Hostess Brands closes 3 plants and laysoff 600+ workers

[LDB]

Many executives are worthless, doing little more than drawing their overly large compensation. Many unions are worthless, doing little more than insuring minimal work requirement for maximum compensation. Union bosses are even worse, caring little for the workers while being compensated more than fairly and for some also skimming wherever possible. They all shot themselves in the foot and in a just world would be crippled for life by their bad choices.

 

[Tennesseahawk]

AP news because workers refuse to go back to work the company will close down all plants and go out of business. Just a thought but maybe the stupid union should buy the company or start a new one if their so smart on running a company instead of running them into the ground

Like GM, once the union controls the situation, the first thing they'll do is slash workers' wages.

 

[Tennesseahawk]

Sounds like the company complied completely with the conditions imposed by the bankruptcy court, who would certainly have been aware of any potential buyers. Maybe the union thought Barack Hussein Obama would come to their rescue and go into the Ding Dong business.

He already has. He is the King... Ding... Dong.

 

[bobwg]

They are looking for buyers for the brands which means who ever buys a brand like the Twinkie or wonder bread will buy the product and does not mean jobs for the idiot union. Wonder if the union will put its money where it mouth is and buy ?

 

[Crazynuff]

I think Bimbo is in no hurry to buy another American bakery

Grupo Bimbo saw its third-quarter earnings tumble 82% after it incurred a jump in pension costs and charges from the integration of the Sara Lee business the bakery giant acquired in North America.

Grupo Bimbo food business news, Grupo Bimbo company profile, Grupo Bimbo analysis, comment and interviews

 

[billg27]

Did you see this?

 

[Tennesseahawk]

Did you see this?

Hard to read, but awesome nonetheless.

 

[Turtle]

Ding-Dong, the Twinkie's dead.
Ho-Ho... Zingers
Donettes, Sno Balls
Ding-Dong, the Honey Bun's gone, too!

 

[OntarioVanMan]

I think Bimbo is in no hurry to buy another American bakery
Grupo Bimbo food business news, Grupo Bimbo company profile, Grupo Bimbo analysis, comment and interviews

Did anyone actually read the whole article? LOL. Sales from Sara Lee actually increased sales 34.7%company said the pension decision was an economic benefit to them.

 

[pandora2112]

)O( ~ Namaste ~ )O(

 

[skyraider]

No more Hostess and so on, and now waistlines will be smaller, fewer trips to the Dentist, fewer folks at the gym, hey , the economy is gonna crash, oh,,I forgot, it has already done that.

 

[cheri1122]

Many executives are worthless, doing little more than drawing their overly large compensation. Many unions are worthless, doing little more than insuring minimal work requirement for maximum compensation. Union bosses are even worse, caring little for the workers while being compensated more than fairly and for some also skimming wherever possible. They all shot themselves in the foot and in a just world would be crippled for life by their bad choices.

Did Congress kill the Twinkie? The tariff tale behind the Hostess demise.(+video) - CSMonitor.com

Or maybe it's just waaay easier for management to blame the unions [as opposed to Congress].....

 

[davekc]

Did Congress kill the Twinkie? The tariff tale behind the Hostess demise.(+video) - CSMonitor.com

Or maybe it's just waaay easier for management to blame the unions [as opposed to Congress].....

That is very interesting and surely played a part in their bankrupty. It does beg the question as to whether other bakeries face that same problem? It appears where it has affected others they just move out of the country. Good post though. Not sure where that line is verses tariffs or union problems with reagards to their balance sheet. Maybe a combo of the two.

 

[cheri1122]

Who's to Blame for the Hostess Bankruptcy: Wall Street, Unions, or Carbs? - Jordan Weissmann - The Atlantic

Yet another perspective - this one mentions the role of private capital [oh dear!] but even more, management stupidity.
Hey, the CEO only gets a paltry $2M - not even enough to impress the caddy, much less the big guns at the golf course, so expecting him to be competent may be a stretch, granted.
It's just so much easier to pin ALL the blame on the unions [who may deserve some of it, but they did make concessions in the last bankruptcy, just 4 years ago] than to try to discover the truth - and maybe learn something that would help prevent it next time.

 

[davekc]

Possibly. They had all kinds of problems with unions only being a part. At the end of the day, no one blinked and they are shutting the doors. A buyer may pick up a part of them (big maybe) but you can be assured it will be with non-union workers.

 

[cheri1122]

Proving that I can be as self centered as anyone, it doesn't matter to me - I've got a recipe for a Ho Ho cake that's even better than the real thing, lol.

 

[Turtle]

I think it'll be awesome if Bimbo out of Mexico buys at least some of the brands. I'd buy a box of Bimbo Ho-Hos.

 

[muttly]

This article pretty much has the skinny,er, or is that fatty, about what happened at Hostess. Any way, its an excellent explanation, although a little long. Reading it along with a couple of zingers and a glass of milk might put you to sleep.
The Hostess Liquidation: A Curious Cast Of Characters As The Twinkie Tumbles | ZeroHedge

 

[Ragman]

Tragic. Marketplace realities.

 

[BobWolf]

Its safe to say that the government fabricate annother lie and say there was a rise in consumer sales, spending and booming economy since everyone is rushing to get the last of the snack foods.
Oh yeah, I see the propaganda machine giving the fuher a major pump on this.

Bob Wolf.