clearvision Posted November 16, 2012 Share Posted November 16, 2012 CNN: Hostess Brands -- the maker of such iconic baked goods as Twinkies, Devil Dogs and Wonder Bread -- announced Friday that it is asking a federal bankruptcy court for permission to close its operations, blaming a strike by bakers protesting a new contract imposed on them. The closing will result in Hostess' nearly 18,500 workers losing their jobs as the company shuts 33 bakeries and 565 distribution centers nationwide. The bakers' union represents around 5,000. Hostess will move to sell its assets to the highest bidder. That could mean new life for some of its most popular products, which could be scooped up at auction and attached to products from other companies. ------- More unemployment payments and US having to bail out another pension plan. Link to comment Share on other sites More sharing options...
pollyannaish Posted November 16, 2012 Share Posted November 16, 2012 It's only beginning. Between this and what is likely to be a all out war in the ME perhaps We didn't want the presidency anyway. Let the Obamessiah contend with the consequences of his own policy. Link to comment Share on other sites More sharing options...
pollyannaish Posted November 16, 2012 Share Posted November 16, 2012 It is also sad that 5k can do that much harm to innocent by standing 13k + Link to comment Share on other sites More sharing options...
Valin Posted November 16, 2012 Share Posted November 16, 2012 Now I'm not saying Zombieland is the GREATEST film ever made, but Ya got Zombie killing in many creative ways (take notes...you never know), Bill Murray, hair brushing & Twinkies. What more can a person want? Link to comment Share on other sites More sharing options...
SrWoodchuck Posted November 16, 2012 Share Posted November 16, 2012 Just so we all know what's at stake with a Hostess Bankruptcy: Yes, it is a euphemism for our pResident.....but the loss of the "Twinkie" is one of the signs of The End Times. The Tribulation has begun. Sorry.....couldn't help it.......I'm collating & printing for my prison ministry tomorrow & it's in the Readings & Gospel...... 1 Link to comment Share on other sites More sharing options...
Pepper Posted November 16, 2012 Share Posted November 16, 2012 @SrWoodchuck Don't forget the Ding Dong in the White House and his Hostess 4 Link to comment Share on other sites More sharing options...
SrWoodchuck Posted November 16, 2012 Share Posted November 16, 2012 Link to comment Share on other sites More sharing options...
Casino67 Posted November 16, 2012 Share Posted November 16, 2012 Unions sure is smart. Let's all go on strike and lose our jobs. Don't worry guys, they will back down. Link to comment Share on other sites More sharing options...
Valin Posted November 17, 2012 Share Posted November 17, 2012 The Hostess Liquidation: A Curious Cast Of Characters As The Twinkie Tumbles Tyler Durden 11/16/2012 Perhaps one of the most interesting aspects of the just announced Hostess liquidation, one that will be largely debated and discussed in the media, or maybe not at all, is the curious cast of characters and the peculiar history of this particular bankruptcy. Some may not be aware that the company's Chapter 11 (or colloquially known as 22) bankruptcy filing this January, which today became a Chapter 7 liquidation, was the second one in the company's recent history, with Hostess, previously Interstate Bakeries, emerging from its previous protracted multi-year bankruptcy in 2009. What is curious is that its emergence had all the drama of a anti-Mitt Romney PAC funded thriller, with a PE firm, in this case Ripplewood holdings, injecting $130 million in order to obtain equity control of Hostess as it was emerging last time. There were also more hedge funds, investment banks, strategic buyers, politicians involved in this particular story than one can shake a deep fried numismatic value Twinkie at. More importantly, however, as America has been habituated following the last season of the reality TV show known as the presidential election, if Private Equity then "bad." Only this time there is a twist: because it wasn't really PE that was the pure evil in the Obama long-term campaign, it was associating PE with Republicans, and thus: with jobs outsourcing. And here comes the Hostess twist: because Tim Collins of Ripplewood, was a prominent Democrat, a position which allowed him to get involved in the first bankruptcy process in the first place, due to his proximity with the Teamsters' long-term heartthrob Dick Gephardt (whose consulting group just happens to also be an equity owner of Hostess). In other words, the traditional republican-cum-PE scapegoating strategy here will be a tough one to pull off since the narrative collapses when considering that it was a Democrat who rescued the firm, only to see it implode in a trainwreck that has resulted in the liquidation of a legendary brand, and 18,500 layoffs. But it only gets better. Because the full cast of characters involved here is quite stunning, as David Kaplan summarized so well recently: (Snip) Link to comment Share on other sites More sharing options...
pollyannaish Posted November 17, 2012 Share Posted November 17, 2012 Great article @Valin. We are going to see a whole lot more of this. It doesn't help that another Democrat constituency is actively trying to get rid of junk food. This makes Bloomberg and Michelle very, very happy. So it seems to me that there is even more blame to be spread around the left side of the aisle. Link to comment Share on other sites More sharing options...
Valin Posted November 17, 2012 Share Posted November 17, 2012 Great article @Valin. We are going to see a whole lot more of this. It doesn't help that another Democrat constituency is actively trying to get rid of junk food. This makes Bloomberg and Michelle very, very happy. So it seems to me that there is even more blame to be spread around the left side of the aisle. Getting rid of munchies...just when Col. Wash. have legalized grass! Hey Man...like Bummer! Link to comment Share on other sites More sharing options...
clearvision Posted November 17, 2012 Author Share Posted November 17, 2012 Thanks @Valin. Interesting that article is from August. Link to comment Share on other sites More sharing options...
pollyannaish Posted November 17, 2012 Share Posted November 17, 2012 Great article @Valin. We are going to see a whole lot more of this. It doesn't help that another Democrat constituency is actively trying to get rid of junk food. This makes Bloomberg and Michelle very, very happy. So it seems to me that there is even more blame to be spread around the left side of the aisle. Getting rid of munchies...just when Col. Wash. have legalized grass! Hey Man...like Bummer! duuuuude! Whoa. Now whatta we gonna do? Cheetos? Link to comment Share on other sites More sharing options...
SrWoodchuck Posted November 17, 2012 Share Posted November 17, 2012 duuuuude! Whoa. Now whatta we gonna do? Cheetos? Crunchy, cheesy is the best.......... 1 Link to comment Share on other sites More sharing options...
quantim Posted November 17, 2012 Share Posted November 17, 2012 Hostess kills 20,000+ jobs as the second tier of job cuts not directly union will be enormous. Notice that there aren't any 'occupy' demonstrations going on. Link to comment Share on other sites More sharing options...
quantim Posted November 17, 2012 Share Posted November 17, 2012 1 Link to comment Share on other sites More sharing options...
quantim Posted November 17, 2012 Share Posted November 17, 2012 Link to comment Share on other sites More sharing options...
RidesAPaleHorse Posted November 17, 2012 Share Posted November 17, 2012 EXTRY! EXTRY! READ ALL ABOUT IT! TWINKIE THE KID DEAD! UNEXPECTED WINDFALL RESULTS! 2 Link to comment Share on other sites More sharing options...
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