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Breaking** Obama is gonna save the Twinkie Industry and bail out Hostess with your money !! !

 
Anonymous Coward
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11/19/2012 10:31 PM
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Breaking** Obama is gonna save the Twinkie Industry and bail out Hostess with your money !! !
Naturally, the immediate outcome of this rather obscene demand, which may fly in a Chapter 11 KERP proposal but hardly is tenable in a liquidation proceeding, is that said US Trustee is now seeking to take control of the liquidation away from the company. As BBG reported earlier, "U.S. Trustee Tracy Hope Davis asked the judge to convert the case to a Chapter 7 from Chapter 11 bankruptcy, based partly on the company’s intent to pay bonuses, and appoint a trustee to supervise the wind-down."

But wait, it gets better: because it is quite likely that should an emboldened US Trustee get her wishes granted, will push to continue operating Hostess as a going concern, potentially with a court appointed, and US Trustee selected management team.

In essence this could result in a stealth nationalization of the junk food maker, which would preserve the jobs of the workers for the time being, but crush the balance of the capital structure, i.e., secured and unsecured creditors.

Impossible, you say? It has happened, to a big extent, before. Recall a certain bankruptcy case of one General Motors, where the claims of creditors were primed by those of the labor unions.

Granted, such a perversion of the bankruptcy process would be historic, but in a country in which everyone is to blame for everything, and in which property rights are becoming a very nebulous concept, we would certainly not be surprised if the US government ends up "bailing out" Hostess by a mandatory flipping the capital structure, over the cries of the company's creditors
, further pushing the country into the twilight Banana zone.

[link to www.zerohedge.com]
Anonymous Coward
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11/19/2012 10:37 PM
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Re: Breaking** Obama is gonna save the Twinkie Industry and bail out Hostess with your money !! !
That would be the pinnacle of hypocrisy what with moooooshelles crusade against junk food and all.
Anonymous Coward
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11/19/2012 10:43 PM
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Re: Breaking** Obama is gonna save the Twinkie Industry and bail out Hostess with your money !! !
I can't wait for Twinkies to come back on the shelves

I never ate one my whole life

I will try every type of Ding Dong
Anonymous Coward
User ID: 3910757
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11/19/2012 10:46 PM
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Re: Breaking** Obama is gonna save the Twinkie Industry and bail out Hostess with your money !! !
I could give a shit if dumbasses want to put that fucking posion in their bodies.

And I wouldn't support this asshole even if he didn't sell baked posion.

I hope they come back so I can fight to BOYCOTT this fuck!!
Anonymous Coward
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11/19/2012 10:54 PM
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Re: Breaking** Obama is gonna save the Twinkie Industry and bail out Hostess with your money !! !
I could give a shit if dumbasses want to put that fucking posion in their bodies.

And I wouldn't support this asshole even if he didn't sell baked posion.
Anonymous Coward
User ID: 3910757
United States
11/19/2012 10:55 PM
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Re: Breaking** Obama is gonna save the Twinkie Industry and bail out Hostess with your money !! !
I hope they come back so I can fight to BOYCOTT this fuck!!
Anonymous Coward
User ID: 3910757
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11/20/2012 12:32 AM
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Re: Breaking** Obama is gonna save the Twinkie Industry and bail out Hostess with your money !! !
I could give a shit if dumbasses want to put that fucking posion in their bodies.

And I wouldn't support this asshole even if he didn't sell baked posion.

I hope they come back so I can fight to BOYCOTT this fuck!!
 Quoting: Anonymous Coward 3910757


^ THIS

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