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Twinkie Maker Hostess To Close

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#21 ATL Bear

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Posted 16 November 2012 - 05:19 PM

If the only way your company can stay viable is to slash employee pay and benefits to the point that they did then my guess is that the company should have gone under well before this.

8% wage cut recovered in 4 years and a suspension of pension contributions for 3 years during one of the worse recessions in our history. Oh the horror and corporate greed!!!

#22 FalconsInstitutionalSize

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Posted 16 November 2012 - 05:20 PM

Twinkies have had a terrible name since the 80s at least surprised they've lasted so long. Always a fat joke involving twinkies, I guess the gays taking the word was the last straw.

#23 unbillievable

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Posted 16 November 2012 - 05:25 PM

I wonder what the 1%ers pay cut was...

According to the article, creditors and investors are going to split the assets. The Public will be on the hook for the 75million loan to get it done. The %1er will probably just start another business somewhere else. (Maybe Texas?) Forcing these people to pay their "fair share" is just forcing them to take their share elsewhere.

#24 kicker

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Posted 16 November 2012 - 06:23 PM

I have to laugh at this epic failure of poker playing by the unions and management. I'm glad to hear they all lost.

#25 Joremarid

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Posted 16 November 2012 - 06:30 PM

it's business.... if you can't cut it, then you go under. the void that was created by this company going under will be filled by a company ran better.

#26 Big Rob 64

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Posted 16 November 2012 - 07:53 PM

If the only way your company can stay viable is to slash employee pay and benefits to the point that they did then my guess is that the company should have gone under well before this.


Cutting wages 8% is not exactly a gutting of worker's salary.
Cutting wages 100% due to the company folding is.

I am philosophically opposed to the existence of unions. Don't like your job? Find another then quit. I've done it. Not often: I tend to stay at jobs long term. But I have done called in for a day off and gone out to find another job.

If I am a business owner, and my employees think they're going to dictate what I'll pay them? They'll all be out of work with my next two words. There are plenty of people needing a job. And yes, in Florida, I could do exactly that. Right-to-work state FTW!!!

#27 GEORGIAfan

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Posted 16 November 2012 - 07:57 PM

8% cut is better than 100% cut and unemployment, plus they got 25% equity of the company in exchange for the cuts they had to make. That seems like a good deal to me, especially since I would rather have a job than looking for a job in this economy.

#28 lostone

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Posted 16 November 2012 - 08:09 PM

Cutting wages 8% is not exactly a gutting of worker's salary.
Cutting wages 100% due to the company folding is.

I am philosophically opposed to the existence of unions. Don't like your job? Find another then quit. I've done it. Not often: I tend to stay at jobs long term. But I have done called in for a day off and gone out to find another job.

If I am a business owner, and my employees think they're going to dictate what I'll pay them? They'll all be out of work with my next two words. There are plenty of people needing a job. And yes, in Florida, I could do exactly that. Right-to-work state FTW!!!

Without unions a lot of the things you enjoy about employment wouldn't exist. I guess you would have had fun working those 18 hour days in a steel mill.

#29 Joremarid

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Posted 16 November 2012 - 08:15 PM

8% cut is better than 100% cut and unemployment, plus they got 25% equity of the company in exchange for the cuts they had to make. That seems like a good deal to me, especially since I would rather have a job than looking for a job in this economy.


25% equity in a failing company isnt really worth that much.

#30 GEORGIAfan

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Posted 16 November 2012 - 08:18 PM

True, but they were trying to turn the company around and had new management. If the company turned it around, that would have been worth a pretty penny, plus if the company did go down, wouldnt the employees get 25% of the money made from the brands being sold?

#31 #1 pickô

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Posted 16 November 2012 - 08:26 PM

I believe the brands, especially Wonder Bread, may live on in Canada. Should also be scooped up by a competitor in the U.S.

Yep. They can still sell the assets but Twinkies are done.

#32 Green Ranger

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Posted 16 November 2012 - 10:23 PM

Yep. They can still sell the assets but Twinkies are done.


Not if somebody buys the rights for them. Boy I would hate to be Tallahassee right about now.

#33 Joremarid

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Posted 16 November 2012 - 10:40 PM

True, but they were trying to turn the company around and had new management. If the company turned it around, that would have been worth a pretty penny, plus if the company did go down, wouldnt the employees get 25% of the money made from the brands being sold?


if they really felt like they could be profitable they would have held out.

#34 kicker

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Posted 17 November 2012 - 09:46 AM

if they really felt like they could be profitable they would have held out.

The executives had threatened to liquidate in the past, only to go through Chapter 11 bankruptcy and reorganize. The unions fully expected this to happen again. Only one of the unions didn't agree to the deal, so they really spoiled the agreement for everyone.

#35 Joremarid

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Posted 17 November 2012 - 10:11 AM

The executives had threatened to liquidate in the past, only to go through Chapter 11 bankruptcy and reorganize. The unions fully expected this to happen again. Only one of the unions didn't agree to the deal, so they really spoiled the agreement for everyone.


no they didn't... this has been going on for what, a week? management is deciding to shut it down b/c they can't wait a week? seems to me that's a business that is doomed to fail.

#36 capologist

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Posted 17 November 2012 - 11:02 AM

Without unions a lot of the things you enjoy about employment wouldn't exist. I guess you would have had fun working those 18 hour days in a steel mill.


Except unions no longer simply want what is fair, they want more than fairness now.

#37 Flip Flop

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Posted 17 November 2012 - 11:06 AM

So, Hostess has to close its doors because a labor monopoly wont let them hire workers at wages that are profitable. Next, the very same union will be saying that Hostess is shipping American jobs over seas. Meanwhile, 23 million Americans are out of work. Read Sig below.

#38 Green Ranger

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Posted 17 November 2012 - 11:20 AM

You guys want to buy some twinkies? Click here

#39 kicker

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Posted 17 November 2012 - 02:07 PM

no they didn't... this has been going on for what, a week? management is deciding to shut it down b/c they can't wait a week? seems to me that's a business that is doomed to fail.

no they didn't what? Everything I said was well documented. The bakers union is the only one that didn't agree to the cuts.

You need to nderstand how bankruptcy functions. Itdoesn't always occur when you run out of your last dollar. It usually occurs when you realize that you won't be able to meet your debt obligations. Without the deal, they wouldn't be able to meet their debt obligations.

#40 kicker

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Posted 17 November 2012 - 02:14 PM

Without unions a lot of the things you enjoy about employment wouldn't exist. I guess you would have had fun working those 18 hour days in a steel mill.

Without the VCR, we wouldn't have had a way to record tv at home for 15 years. That's no reason to maintain antiquated systems forever. We won't jump back to 18 hour workdays if unions are abolished. Most of us are in nonunion industries and somehow we manage to negotiate our own pay, benefits, work schedule, and conditions.