Goodbye Hostess: JUDGE APPROVES MOTION TO WIND DOWN COMPANY

Yes. General Motors.

jesus the union did not run them out of business

why the fuck do you people hate on the fellow worker who works for prob 15/an hr and DESERVES IT


why are you cheering on the dismantling of the middle class? you people here buy right into it

great, lets all make 8/hr and work 16 hr days with no sick time or vaca and by the way, your little kid goes to work too at TEN yrs old

Vulture management, employees locked into union bullshit, shitty product line. And they are going out of business? Whodathunk? Buh-Bye.

This is what happens when you don't factor in anything but growth in your risk management models.

Newsflash a company can not support tons of retiree's if there is a recession. Ie Kodak, 5000 workers can NOT support 15,000 retiree's. Short term thinking and wanted all for today but saving nothing for tomorrow is the problem.

In debt we trust.

Ain't that the truth. When the anti-union crowd sees there great grandkids working at 12 and being paid in company tokens that can only be spent in the company store they will be wondering what the fuck happened. But unions are not guiltless here either. Greed fucked them up too. The truth and the solution, as always, lies somewhere in the middle.

if you are a hard working person would you be happy getting the same raise in wages as another person who is lazy , fool around at work all day ? union prevent company from firing such type of workers ( just look at school teachers or police force ) and the more seniority/years with the union the lazier they are and if you are a hard working person who just got hired but company needs to scale down guess who is going out first ?...not the lazy ones and that's why company can't stay in business forever..in case you are too dense to get it --- lazy workers are unproductive... and cost the company too much money.

Correct it was Ripplewood Holdings that was the private firm that did them in.

How the only union part that hurt them was the logistic and drivers with unloading their trucks.

But that doesnt seem to fet the "bash on Unions / rep side.

You people really need to do some actually research before you play the blame game.

What should sheeple there are here on the site.

Reality in this case is the high cost of sugar in the USA and the equally high cost of basic labor at Hostess.. The top bidder is a Mexican company that tried to buy them up a few years back. They are of course NON-UNION. The people will be offered their jobs back but at half pay with no benefits. Example, the small Ford (Festival??) made in Mexico by workers earning $5 an hour. or Reserve Mining Co Babbit,Mn. This practice has been going on for a long time.......

the Long Night begins.........

The company was already in chapter 11, what did they think was going to happen?

True.

I haven't seen around you in awhile.

Have some coffee on me.

HA! I just said the EXACT Same words as i was clicking on this thread! JINX!

Has everything to do with the fact that people aren't eating the crap anymore.

""It wasn't the union. Union employees took a pay cut a while back to help the company. It was marketing and up level management.""



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Are you really that blinded by liberal bliss or are you always in La La land ??

I just don't get how so many people have heads in the sand like an ostrich and no matter what it's always a businesses fault

Shesh

Last Edited by ThePatriotMind on 11/21/2012 07:31 PM

Yep....been on the low-down for a while.
....but I'm here now to narrate to the uninitiated about the the ongoing decay and demise of America.

It's baked in at this point.

Sorry! Of course the UAW was/is a larger and more powerful union. My step-father received 90% of his wages ( state and union combined), plus health benefits while on lay-off or on strike. Like I said,"I have no sympathy for, nor do I support unions".

It was truly Bush and the Illuminati that took down Hostess. Not the unions or the idiotic anti-business model Obama embraces.

Cut pay and benefits? OH NO! I'd rather be homeless and out of a job than accept less pay and benefits!

To think that they believe I could find another job.

Twinkies were the last part of the overall 9-11 endgame.

Yeah sure blame it on the unions....


[link to www.teamliquid.net]




More at link

Hostess is not and will not be viable: If Hostess emerges from bankruptcy under its present plan,
it will still have too much debt, too high costs and not enough access to cash to stay in business for
the long term. It will not be able to invest in its plants, in new products and in new technology.

Since 2002, Hostess has had six CEOs. None of which has been successful in turning
the company around.
Instead of planning to share in the sacrifices, the BCTGM learned that the then Hostess
CEO was to be awarded a 300% raise and at least nine other top executives were to
receive raises ranging between 35% and 80%.

Problems began in the 1990’s after the company went on an acquisition spree
that more than doubled the company’s production plants and employee count.
In the late 1990’s, the company initiated a company-wide restructuring as we witnessed
operating income decline, and total debt increase.

In the early 2000’s the company began to aggressively repurchase shares,
puzzling investors. According to one report “rather than benefitting from this action the
company is paying for it today via increased interest expense (on the debt), and balance sheet
degradation.”

Those problems led the company to file for bankruptcy protection in 2004. During this
bankruptcy, BCTGM union members agreed to significant concessions. According to one
report, Hostess saved $110 million from the concessions of its unionized
workforce. The company also closed 21 plants through the 2000’s and saw
its workforce go from 35,000 employees to 18,000.

Deserves it? Based on what? Being an uneducated lazy asshat?

You need to go get an education and start taking a little responsibility little twinkie cream squirters. Then you can see how the concept of business operates.

Yes, elections have consequences, and now that the election has been stolen, forget you fools! Ha ha ha... still blame Bush? Oh right. Of course they still do.

Wrong. They cannot collect unemployment after a strike leads to a situation like this. Do some research on it. Not being rude just saying that research can give more insight on this as I cannot explain it well. Government won't approve unemployment if the strike lead to being laid off or fired. I wonder how they feel now. Im sure the workers were excited to get a pay raise and thought everything was going to be fine, its hostess, who thought they would liquidate their assets. Sucks for them. That's why it's always better to be a leader than a follower.

Not necessarily Bush as much as its just the "white man" then again, its always just an excuse. Me - Hey, why'd you vote for obama? Black friend - Cause hes black. Me - your fucking retarded.

Its ok twinkytards, your precious cream filled moorish snack will not die, it will prolly be bought out and then the former staff will hopefully get the jobs back, unless Bimbo group that makes wonder decides to buy it and move operations to a cheaper production center in Medico hut hey, at least twinkies will be on sale again



Everyones a winner baybeh

All union vs management banter aside; when a hedge fund buys your company, that's the time to look for other work.