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Hostess bankruptcy: Twinkies-maker Hostess Brands to go into liquidation, files for bankruptcy
wptv.com ^ | Nov 16, 2012 | James O'Toole

Posted on 11/16/2012 9:33:44 AM PST by LucianOfSamasota

UPDATE: Twinkies-maker Hostess Brands says it has asked court to allow it to close its business and sell its iconic brands.

PREVIOUS STORY:

NEW YORK -- Is this the end for Twinkies?

Hostess Brands said Wednesday that it will go into liquidation unless bakers striking in protest against a new contract imposed in bankruptcy court return to work by the end of the day Thursday.

"We simply do not have the financial resources to survive an ongoing national strike," Hostess CEO Greg Rayburn said in a statement.

The liquidation would result in Hostess' nearly 18,000 workers losing their jobs. The bakers' union represents around 5,000.

The union did not immediately respond to a request for comment Wednesday, but has called the concessions demanded in the new contract "outrageous."

"Our members are on strike because they have had enough," bakers' union president Frank Hurt said in a statement Tuesday. "They are not willing to take draconian wage and benefit cuts on top of the significant concessions they made in 2004 and give up their pension so that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars."

(Excerpt) Read more at wptv.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; News/Current Events
KEYWORDS: classenvy; classwarfare; hostess; o; obamanomics; obamunism; twinkies; uniongreed; unions
Marxism in progress.
1 posted on 11/16/2012 9:33:51 AM PST by LucianOfSamasota
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To: LucianOfSamasota

Another company will buy the brand names and recipes and produce them, they won’t need the factories or workers.


2 posted on 11/16/2012 9:36:11 AM PST by GeronL (http://asspos.blogspot.com)
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To: LucianOfSamasota

Unions tend to be parasites which ultimately destroy their hostesses.


3 posted on 11/16/2012 9:36:30 AM PST by Unknowing (Now is the time for all good men to come to the aid of their country.)
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To: LucianOfSamasota

I seriously doubt the 18,000 are part of the one-percenters.


4 posted on 11/16/2012 9:36:53 AM PST by Steelfish (ui)
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To: LucianOfSamasota

Twentieth Century Twinkies....


5 posted on 11/16/2012 9:38:16 AM PST by GeronL (http://asspos.blogspot.com)
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To: LucianOfSamasota
"Our members are on strike because they have had enough"""".....

ROFL.....NO, mr union prez., there's MORE...as in "your unemployed" big mouth....lol.

some people are just so damned dense.

6 posted on 11/16/2012 9:38:26 AM PST by annieokie
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To: LucianOfSamasota

Congratulation union bastards. Have been a member of unions in the past as a condition of employment. Never gave them a moment of support. Corrupt, always.


7 posted on 11/16/2012 9:38:37 AM PST by Minnesota fox
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To: LucianOfSamasota

Congratulation union bastards. Have been a member of unions in the past as a condition of employment. Never gave them a moment of support. Corrupt, always.


8 posted on 11/16/2012 9:38:37 AM PST by Minnesota fox
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To: LucianOfSamasota

The Teamster union recommended, after looking at Hostess’ books, that the worker’s union accept this contract. But I guess they decided not to.


9 posted on 11/16/2012 9:45:56 AM PST by rawhide
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To: Unknowing

Unions tend to be parasites which ultimately destroy their hostesses.
_________________________________________________________

Nice one.

I’m upset I’m losing part of my childhood.......but I’d REALLY be ticked if they come after my Moon Pies.


10 posted on 11/16/2012 9:46:19 AM PST by RushIsMyTeddyBear (Great vid by ShorelineMike! http://www.youtube.com/watch?v=KOZjJk6nbD4&feature=plcp)
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To: LucianOfSamasota

“Hostess says Twinkies Liquidated.” I like my headline better. Or

“Snack Food Baker Says Union A Taker, Business No Money Maker, Threats No Faker.”


11 posted on 11/16/2012 9:48:36 AM PST by count-your-change (You don't have to be brilliant, not being stupid is enough.)
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To: LucianOfSamasota
They are not willing to take draconian wage and benefit cuts on top of the significant concessions they made in 2004 and give up their pension so that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars.

The "Wall Street vulture capitalists in control of this company" will probably still walk away with millions of dollars in the liquidation, with the left hand selling the assets to the right hand, and then hiring new non-union workers. The Bakers Union is committing suicide here, but the Teamsters will feel it the most.

12 posted on 11/16/2012 9:48:39 AM PST by Uncle Chip
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To: LucianOfSamasota

The sad part of this story is there were probably many union members who wanted to take the deal offered by management.


13 posted on 11/16/2012 9:54:22 AM PST by Huskrrrr
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To: LucianOfSamasota

Does this mean all pensions currently active and those still accruing go tits up?


14 posted on 11/16/2012 9:55:16 AM PST by eyedigress ((zOld storm chaser from the west)/?)
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To: Steelfish

Frankly, I’m WAAAYY beyond caring about these Union Workers no longer having a job. They can enjoy their 99 weeks and free Medicare, then feign an injury and draw disability. Twinkies can be produced in Mexico for all I care.


15 posted on 11/16/2012 9:55:27 AM PST by radioone
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To: Unknowing
Unions tend to be parasites which ultimately destroy their hostesses.

And now they'll be parasites upon all of us, getting welfare, section 8, food stamp EBTs, Obamaphones...

16 posted on 11/16/2012 10:00:50 AM PST by JimRed (Excise the cancer before it kills us; feed &water the Tree of Liberty! TERM LIMITS, NOW & FOREVER!)
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To: LucianOfSamasota
"Our members are on strike because they have had enough," bakers' union president Frank Hurt said in a statement Tuesday.

Well, there's at least one union guy whose cushy job won't be affected.

17 posted on 11/16/2012 10:02:03 AM PST by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: LucianOfSamasota

“Our members are on strike because they have had enough,” bakers’ union president Frank Hurt said in a statement Tuesday. “They are not willing to take draconian wage and benefit cuts on top of the significant concessions they made in 2004 and give up their pension so that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars.”

Frank Hurt sez, “Let them eat cake”. Now 18,000 people have nothing. Good job Frankie.


18 posted on 11/16/2012 10:03:10 AM PST by headstamp 2 (What would Scooby do?)
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To: Huskrrrr

Don’t bet on it. The Seattle Times talked to some strikers at the Hostess factory here, they are true believers. Can you say Jonestown? Such moron’s.

I wish I had a spare million or two, I’d buy the assets and move them to a right to work state!


19 posted on 11/16/2012 10:15:52 AM PST by bigfootbob
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To: LucianOfSamasota

Idiot headline writer at work. They filed for bankruptcy some time back.


20 posted on 11/16/2012 10:34:10 AM PST by PAR35
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To: rawhide
The Teamster's Union which represented delivery employees approved of the contract. It was the Baker's union that rejected it. So, now, both groups of employees are unemployed, as well as non-union employees.
21 posted on 11/16/2012 11:04:58 AM PST by reg45 (Barack 0bama: Implementing class warfare by having no class.)
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To: annieokie

Sadly, the union president will keep his job - it’s a one percenter job - while the rank and file workers from the factory and the delivery people will lose theirs.


22 posted on 11/16/2012 11:09:48 AM PST by reg45 (Barack 0bama: Implementing class warfare by having no class.)
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To: bigfootbob
In order to supply fresh product, bakeries are located close to their customers. This necessitates having bakeries in almost every state.
23 posted on 11/16/2012 11:13:51 AM PST by reg45 (Barack 0bama: Implementing class warfare by having no class.)
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To: LucianOfSamasota

I have yet to read anywhere exactly what the contract offer was. Anyone have a link????????/


24 posted on 11/16/2012 11:16:44 AM PST by Captain Peter Blood
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To: Captain Peter Blood

I think the offer was an 8% cut, with compensation being restored to the current level over about a three-year period.

Since 2004, I’ve lost 5% once and 100% three times.

Color me “unsympathetic”.


25 posted on 11/16/2012 11:22:16 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: LucianOfSamasota

They can outsource to China,since there’s nothing non-chemical in a twinkie!


26 posted on 11/16/2012 11:22:36 AM PST by Dr. Ursus
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To: LucianOfSamasota

Trial lawyers lose. There goes the Twinkie defense.


27 posted on 11/16/2012 11:26:39 AM PST by LoneRangerMassachusetts (The meek shall not inherit the Earth)
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To: LucianOfSamasota

Where are these job losses? The HQ is in north Texas, but the actual layoffs are probably elsewhere, and I can’t find anything about that in any of these stories.


28 posted on 11/16/2012 11:29:49 AM PST by Mamzelle
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To: reg45

Not with Twinkies, LOL, them and cockroaches are indestructible, except Twinkies have a vulnerability to unions.


29 posted on 11/16/2012 11:32:00 AM PST by bigfootbob
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To: LucianOfSamasota

Democrats told us if we voted for Mitt Romney there would be massive layoffs. They were right!


30 posted on 11/16/2012 11:53:18 AM PST by superloser
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To: GeronL

They’ll end up at the Vermont Country Store:

http://www.vermontcountrystore.com/store/jump/Gifts/Brands_From_The_Past_/cat560003


31 posted on 11/16/2012 12:15:58 PM PST by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: LucianOfSamasota
"Our members are on strike because they have had enough," bakers' union president Frank Hurt said in a statement Tuesday.

Had enough Twinkies??

"They are not willing to take draconian wage and benefit cuts on top of the significant concessions they made in 2004 and give up their pension so that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars."

Yes, so you, Mr. Hurt, would rather have people making $0.00/hour then the amount Hostess would pay? Nice Thinking, MORON!!

32 posted on 11/16/2012 1:15:03 PM PST by ExCTCitizen (More Republicans stayed home then the margin of victory of O's Win...)
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To: PLMerite

Good one!


33 posted on 11/21/2012 5:29:39 AM PST by Maudeen (Proverbs 3:5-6)
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