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Uncle Stan

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: November 16, 2012, 02:10:57 PM

Hostess Brands Inc. says it's going out of business after striking workers across the country crippled its ability to make its Twinkies, Ding Dongs, Wonder Bread and other snacks.

The company had warned employees that it would file a motion with U.S. Bankruptcy Court Friday seeking permission to shutter its operations and sell assets if plants didn't resume normal operations by a Thursday evening deadline.

The closing would mean the loss of about 18,500 jobs.

"Many people have worked incredibly long and hard to keep this from happening, but now Hostess Brands has no other alternative than to begin the process of winding down and preparing for the sale of our iconic brands," CEO Gregory Rayburn said in a letter to employees posted on the company website.

He added that all employees will eventually lose their jobs, "some sooner than others."

"Unfortunately, because we are in bankruptcy, there are severe limits on the assistance the (company) can offer you at this time," Rayburn wrote.

Hostess, based in Irving, Texas, suspended bakery operations at its 33 factories and said its stores will remain open for several days to sell already packaged products. The privately held company filed for Chapter 11 protection in January, its second trip through bankruptcy court in less than a decade.

Thousands of members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union went on strike last week after rejecting in September a contract offer that slashed wages and benefits. Hostess said Friday the company is unprofitable "under its current cost structure, much of which is determined by union wages and pension costs."

Learn to disagree without being disagreeable-Ronald Reagan circa 1981

mwk

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#1 : November 16, 2012, 02:14:09 PM

Cut off their noses to spite their faces. Have unions outlived their usefulness?

mwk

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#2 : November 16, 2012, 02:23:40 PM

Wait... so what am I supposed to eat for breakfast and lunch now?

Skull and Bones

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#3 : November 16, 2012, 03:14:42 PM

Wait... so what am I supposed to eat for breakfast and lunch now?
little Debbie


mwk

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#4 : November 16, 2012, 04:03:51 PM

Wait... so what am I supposed to eat for breakfast and lunch now?

TastyCake

JavaRay

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#5 : November 17, 2012, 07:43:50 AM

Pensions for unskilled people making cupcakes.   Ridiculous.


tripblood

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#6 : November 17, 2012, 08:17:43 AM

Ill put $20 dollars on it they sell the rights to Twinkie to a competitor.


Twinkie will live on

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FIRE SCHIANO!!!!

Its so hard for me to sit back on this forum, lookin at a guy on here, holler in\' my name!  When last year i spent more on 5 electric bills from this side of the country to the other, than you made! You\'re talkin to the Rolex wearing, diamond earring wearing, kiss-stealin, WOOOO!, wheelin dealin\', CTS drivin, jet-flyin sonofagun.. And I\'m havin a hard time holding these alligators down! WOOOO!

chace1986

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#7 : November 17, 2012, 08:37:28 AM

Yea, either that, or a knockoff version will arise. Twinkies are probably the most overrated dessert item anyway. The "fruit" pies Hostess makes are so much better.


Until preseason, you stay classy Red Board.

tripblood

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#8 : November 17, 2012, 08:50:50 AM

Yea, either that, or a knockoff version will arise. Twinkies are probably the most overrated dessert item anyway. The "fruit" pies Hostess makes are so much better.

I lost my taste for the kind of stuff years ago. I ate way to much of it as a kid.

Ramen noodles, and canned pasta fall into the same category

Show No MRSA..

FIRE SCHIANO!!!!

Its so hard for me to sit back on this forum, lookin at a guy on here, holler in\' my name!  When last year i spent more on 5 electric bills from this side of the country to the other, than you made! You\'re talkin to the Rolex wearing, diamond earring wearing, kiss-stealin, WOOOO!, wheelin dealin\', CTS drivin, jet-flyin sonofagun.. And I\'m havin a hard time holding these alligators down! WOOOO!

JavaRay

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#9 : November 17, 2012, 08:51:55 AM

Little Debbie is also good.   But Hostess is delicious stuff too.


Biggs3535

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#10 : November 17, 2012, 08:53:29 AM

Have unions outlived their usefulness?

Yes, about 40-50 years ago.


chace1986

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#11 : November 17, 2012, 08:54:15 AM

Yea, either that, or a knockoff version will arise. Twinkies are probably the most overrated dessert item anyway. The "fruit" pies Hostess makes are so much better.

I lost my taste for the kind of stuff years ago. I ate way to much of it as a kid.

Ramen noodles, and canned pasta fall into the same category

Yea, I agree...and now days if I have any sort of snack cake, it seems like 5lbs get added. So I gotta watch that sh*t.


Until preseason, you stay classy Red Board.

CBWx2

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#12 : November 17, 2012, 09:47:20 AM

The first time Hostess filed for bankruptcy back in 2004, the workers agreed to a pay cut to keep the doors open. How dare they refuse to take yet another pay cut to save a business that has had to file for bankruptcy twice in a decade. I'd bet if they chose to all work for minimum wage, that would have kept Hostess running for at least another decade until they had to file for bankruptcy again. Damn greedy workers.


JavaRay

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#13 : November 17, 2012, 09:51:17 AM

The first time Hostess filed for bankruptcy back in 2004, the workers agreed to a pay cut to keep the doors open. How dare they refuse to take yet another pay cut to save a business that has had to file for bankruptcy twice in a decade. I'd bet if they chose to all work for minimum wage, that would have kept Hostess running for at least another decade until they had to file for bankruptcy again. Damn greedy workers.

go start your own companies and try to pay those pensions to your employees.   See how that works out for you.

Pensions need to be abolished in every company and replaced with 401k's.


Bucman

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#14 : November 17, 2012, 10:02:18 AM

The first time Hostess filed for bankruptcy back in 2004, the workers agreed to a pay cut to keep the doors open. How dare they refuse to take yet another pay cut to save a business that has had to file for bankruptcy twice in a decade. I'd bet if they chose to all work for minimum wage, that would have kept Hostess running for at least another decade until they had to file for bankruptcy again. Damn greedy workers.

go start your own companies and try to pay those pensions to your employees.   See how that works out for you.

Pensions need to be abolished in every company and replaced with 401k's.
Uh, most pensions don't pay you nearly enough to stay afloat. Which is why most companies offer both. Put into 401k while you work there and that money evens out with the pensions till your SS kicks in.

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