NBCDFW: Twinkies Maker Hostess Going Out of Business, CEO Blames Union Strike

[DM72]

Why do people hate on unions so much. If not for unions, practically no one would be kept around long enough to get retirement. You ever wonder why Walmart can treat their employees like crap? Because there's no union. People always like to call unions greedy. What do you want, everyone to make minimum wage?

[Bang]

Why do people hate on unions so much. If not for unions, practically no one would be kept around long enough to get retirement. You ever wonder why Walmart can treat their employees like crap? Because there's no union. People always like to call unions greedy. What do you want, everyone to make minimum wage?

People think that if we trust the job creators, sweatshops will become a thing of the past.

People don't need protection from their employers.

Chinese workers are happy at roughly 75 cents an hour, and bangladeshis are happy to die in garment factory fires for the privelege of having a job.

They'd never allow that here, right?

~Bang

[twa]

There are loads of worker protections here besides unions

The hate for unions largely comes from the choices they have made and and the corruption/cronyism.

[DM72]

There are loads of worker protections here besides unions

Like what? EEOC? The dept of Labor? There all a joke.

[AsburySkinsFan]

Like what? EEOC? The dept of Labor? There all a joke.

And corporate lobbies can be trusted to not gut those protections in the absence of union pressure.

Just repeat this over and over when you begin to doubt: "Don't trust unions....trust the corporations....unions are bad.....corporations are here for your well being....unions are greddy.....corporations love you......"

[zoony]

Yet, they are paying more money to the same people who padded their wallets which led to the problem to begin with.

I haven't seen the evidence that it was managements fault. Do you have it?

[AsburySkinsFan]

I haven't seen the evidence that it was managements fault. Do you have it?

You haven't seen where the executives grated themselves big raises while the company was faultering while at the same time cutting worker benefits and pay? When a company fails to perform like Hostess was, who's fault is that? Surely you aren't going to blame the bakers for Hostess economic failure.

[zoony]

You haven't seen where the executives grated themselves big raises while the company was faultering while at the same time cutting worker benefits and pay? When a company fails to perform like Hostess was, who's fault is that? Surely you aren't going to blame the bakers for Hostess economic failure.

Do you know anything about business or are you just talking straight out of your ass?

There are such things as business cycles and environmental factors. Steve Jobs failed plenty at business.

I will ask again. Show the evidence that management put them out of business. Should be easy for you to provide. After all, you have a very strong opinion on the topic and you've done your research

I have not, which is why I'm asking the question

[twa]

i have seen where execs were working for a dollar before bonuses

I have also seen the workers compensation is well above the median ....is the execs?

I'm not a fan of corps or unions.....especially greedy ones

http://www.forbes.com/sites/susanadams/2012/11/30/hostess-speaks-why-its-executives-deserve-bonuses/

[AsburySkinsFan]

Do you know anything about business or are you just talking straight out of your ass?

There are such things as business cycles and environmental factors. Steve Jobs failed plenty at business.

I will ask again. Show the evidence that management put them out of business. Should be easy for you to provide. After all, you have a very strong opinion on the topic and you've done your research

I have not, which is why I'm asking the question

You make it sound like mangement's inability to adjust to environmental factors and business cycles AREN'T the fault of the management.

Business leaders used to say, "The Buck Stops Here" now it's "Blame the damn union."

[endzone_dave]

Execs want to make millions of dollars and creamy filling stuffers want pensions. It all seems crazy.

[China]

Hostess tapped into pension funds to stay afloat

The Wall Street Journal reports Hostess used employee pension money to stay afloat as it sank deeper and deeper toward bankruptcy.

It isn't clear how much money was taken from those pension funds.

Click on the link for the full article

[China]

Twinkies again by spring? It could happen

It’s not even Christmas, but Twinkies fans may be able to start looking forward to an Easter present.

Bankrupt Hostess Brands has received a number of bids from companies interested in buying the maker of Twinkies, Ho Hos, and Wonder bread, including retail heavyweights such as Wal-Mart Stores Inc. and Kroger Co, Bloomberg News reported Friday, quoting an unnamed person familiar with the matter.

The person asked not to be named because of the confidentiality of the bidding process, Bloomberg reported.

Bloomberg reported that around two dozen possible buyers had emerged, including Wal-Mart , Kroger Mexican bakery giant Grupo Bimbo SAB and Alpha Baking Company.

Wal-Mart, Kroger and Grupo Bimbo declined to comment ; Alpha did not respond to a request for comment from NBC News.

“Hostess does possess several iconic American brands,” said Erin Lash, an equity analyst at Morningstar. Despite concerns about obesity, the snack business is fast-growing, she said. “We’re not surprised there’s interest in those brands.”

Anthony Michael Sabino, a bankruptcy attorney and a professor at St. John's University, said bankruptcy judge Robert Drain was motivated to move quickly. Bidding will likely take place by early January, since the assets — if not the treats themselves — could become stale.

“I think this will move a at a fairly decent pace. He knows what’s at stake here.”

”You could very well see the sale closing by Valentine’s Day or early March,” he said. “There’s a very good chance that, by Easter, there are going to be Twinkies on the shelves again.”

Click on the link for the full article