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Twinkies, Ding Dongs Maker Hostess Liquidates Following Failure To Resolve Labor Union Animosity

Tyler Durden's picture





 

Hostess Brands, the company better known as the maker of Butternut, Ding Dongs, Dolly Madison, Drake's, Home Pride, Ho Hos, Hostess, Merita, Nature's Pride, and of course Wonder Bread and Twinkies, and which previously survived one multi-year Chapter 11 bankruptcy process, when it operated as Interstate Bakeries, has just made a splash at the NY Southern Bankruptcy court, for the last time, with a liquidation filing. The reason: insurmountable (and unfundable) difference in the firm's collective bargaining agreements and pension obligations, which resulted in a crippling strike that basically shut down the company. In other words, Twinkies may well survive the nuclear apocalypse, but there was one weakest link: the company making them, was unable to survive empowered labor unions who thought they had all the negotiating leverage...  until they led their bankrupt employer right off liquidation cliff. Will attention now turn to that another broke government entity, the Pension Benefit Guarantee Corp (PBGC), which will have to step in to resuscitate some 18,000 pension plans which suddenly vaporized after labor unions took their "negotiating" freedom a step too far.

From the filing:

Beginning on October 21, 2012, the Debtors began implementing the modifications to the CBAs. On November 7, 2012, the Debtors began to receive strike notices from various local unions affiliated with the BCT. On November 8, 2012, the Debtors received a strike notice from the IUOE. Between November 9 and November 13, 2012, various local unions affiliated with the BCT commenced strikes at 12 of the Debtors' bakeries. At another 12 bakeries, picket lines were set up by striking BCT workers, and certain BCT and other unionized workers at those bakeries chose to honor the picket lines by not reporting for work. As a result, production was significantly disrupted at the 24 bakeries impacted by the Strikes; however, many of the impacted bakeries remained operational to varying degrees due to management filling in for production workers and, in some plants, high numbers of employees crossing picket lines.

 

Since the strikes (the "Strikes") were commenced, the Debtors have urged striking employees to return to work. Unfortunately, at this time, thousands of the Debtors' employees continue to participate in or honor the Strikes. As a result, a sufficient number of the Debtors' baking facilities have become inoperable, and the Debtors are no longer able to fulfill customer orders or sell product at their retail stores. Because of the material impairment of the Debtors' business operations, the Debtors will soon lose access to the funding necessary to operate their businesses, and the Debtors will have triggered certain remedial provisions of the final DIP Order. As a result, the Debtors are beginning to take steps to wind down their business  operations, including the relief requested in this Motion.

In other words, the labor unions representing 18,000 workers fought the company, and the unions won... A very pyrrhic victory. Sadly, they are all now out of a job as the unionized victory just happened to lead to the terminal winddown of their employer.

As to the future of the iconic brands, fear not: Hostess' numerous brands will be bought in a stalking horse auction by willing private buyers, however completely free and clear of all legacy labor and pension agreements which ultimately led to the company's liquidation.

Now if only Hostess had raised taxes... (because they tried cutting spending, and liquidation followed).

Finally, those 18,500 new initial jobless claims next week? Sandy's fault.

Full winddown motion:

 

 


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Fri, 11/16/2012 - 08:30 | Link to Comment BigInJapan
BigInJapan's picture

Fuck unions.
Better yet, stand back and watch as they fuck themselves.

Fri, 11/16/2012 - 08:39 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Workers of the world unite....and kill your leaders.....cause they sure as hell wouldn't think twice about killing you.

Fri, 11/16/2012 - 09:24 | Link to Comment insanelysane
insanelysane's picture

And by "workers" you mean citizens of a 1st world country that manage to learn less than people from 3rd world countries and have as much use and work ethic as Paris Hilton.  You mean those valuable workers?

Fri, 11/16/2012 - 08:33 | Link to Comment Cursive
Cursive's picture

Subtitle for this post:  The parasites or eating the host or how Michael Bloomberg had an orgasm.

Fri, 11/16/2012 - 08:36 | Link to Comment williambanzai7
williambanzai7's picture

THIS WILL MAKE YOUR HAIR STAND ON END (w/Limerick)

Fri, 11/16/2012 - 08:42 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Sheer genius.....take off your shoes. This is wholly ground.

Fri, 11/16/2012 - 08:42 | Link to Comment Savyindallas
Savyindallas's picture

My God! Is that Lloyd Blankfein? It sure looks like him. Look at his face-that evil smile/smirk. Is the squid at work with this Twinkie disaster? Goldman sachs is behind the destruction of another American iconiic institution? Are these cretins not pure evil? Surely this is the  final straw that will unite Americans to take down these cretinous, vulturous vampires.

Fri, 11/16/2012 - 08:45 | Link to Comment williambanzai7
williambanzai7's picture

I don't know what they will do without weaponized twinkies.

Fri, 11/16/2012 - 08:51 | Link to Comment Alpo for Granny
Alpo for Granny's picture

Out friggin standing Banzai. Thanks for the laugh.

Fri, 11/16/2012 - 09:49 | Link to Comment jayman21
jayman21's picture

with Cramer in the background.....+100

Fri, 11/16/2012 - 08:50 | Link to Comment Big Slick
Big Slick's picture

"That's a big Twinkie."

Fri, 11/16/2012 - 10:23 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

The black ones usually are....not that it's really news to anyone.

Fri, 11/16/2012 - 10:24 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I should point out there is the exception.....as clearly someone has found out.

Fri, 11/16/2012 - 08:57 | Link to Comment Big Slick
Big Slick's picture

Vote down if you're a loser

(I love this retro-active editing ability.  Kinda reminds me of POTUS 2012-2016... "Wait, I didn't vote for that")

Fri, 11/16/2012 - 08:56 | Link to Comment stocktivity
stocktivity's picture

Even Cramer is staring from the TV in stunned silence.

Fri, 11/16/2012 - 09:14 | Link to Comment AurorusBorealus
AurorusBorealus's picture

Hostess didn't make this twinkie.  Somebody else made this twinkie.

Fri, 11/16/2012 - 10:29 | Link to Comment Race Car Driver
Race Car Driver's picture

"The meme is weak, Cap'tn - ya c'not push it no further."

"One or two more uses and it'll be dead, Jim."

"Stand down you two and put those phasers away! That's an order! This isn't your meme! You didn't create it! Somebody else started it!

But the History Eraser Button ... oh, the shiney red button ... it's mine! All mine, I tell you! Ha ha! Ha ha!

Now get the fuck outta my way!"

 

Fri, 11/16/2012 - 09:51 | Link to Comment Oldballplayer
Oldballplayer's picture

Check out the semen stained undies on the floor.  That touch is pure genius.

Fri, 11/16/2012 - 09:53 | Link to Comment Calculated_Risk
Calculated_Risk's picture

Is kramer staring at his ass?! I knew that guy was a fucking perv!

And it looks like he pissed on the shelves... hehe

nice!

Fri, 11/16/2012 - 08:36 | Link to Comment billwilson
billwilson's picture

Fantastic day for the health of Americans. About time companies that make crap for customers to eat go out of business.

Fri, 11/16/2012 - 08:43 | Link to Comment lolmao500
lolmao500's picture

Next up : McDonalds.

Fri, 11/16/2012 - 09:06 | Link to Comment inevitablecollapse
inevitablecollapse's picture

jesus christ - does everyone now have to have their hand held?  be told what to eat? what to put in their bodies? each and every one of us is a sovreign and if i want to stuff my fucking face with twinkies, while doing blow off a hooker's ass then it's my perogative.  until we get out of the mindset of playing nanny for one another, the human race will come nowhere near it's potential.

Fri, 11/16/2012 - 10:04 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

According to at least one person the answer to that is.......yes.

Fri, 11/16/2012 - 13:21 | Link to Comment inevitablecollapse
inevitablecollapse's picture

oh...ok, well...ah fuck it - i give, someone direct me to the nearest overeaters anonymous / food adiction self help group

Fri, 11/16/2012 - 08:38 | Link to Comment buzzsaw99
buzzsaw99's picture

No word on how much the money grubbing execs looted the company for? No mention of mismanagement? Blame the unions and don't dig any further? Who looted the pension fund? Weak. Fucking really weak. Way to side with the maggots again zh.

Fri, 11/16/2012 - 08:48 | Link to Comment mumbo_jumbo
mumbo_jumbo's picture

fucking aye dude, WTF! isn't there 2 sides of every story? the brainwashing of some people is amazing.

in a fair well managed balanced company a union would never be formed...unions don't exist cause management/capital have  always been playing fair....wake the fuck up.

Fri, 11/16/2012 - 10:12 | Link to Comment Urban Redneck
Urban Redneck's picture

two unions- one chose to strike while the company was in the middle of a bankruptcy reorg, and one chose not to strike

the stupdity of one union

end of company

end of story

 

Fri, 11/16/2012 - 08:49 | Link to Comment youngman
youngman's picture

"Who looted the pension fund"

Well now they are free to fund their own pensions fund....I call it savings....no looting involved...the Unions destroyed this company..they have struck many time over many years...I know there is a factory/bakery in my home town..

Fri, 11/16/2012 - 12:46 | Link to Comment Matt
Matt's picture

Was the pension fund goalseeking 8% returns forever? The Bernanke might have some blame in this mess ...

Fri, 11/16/2012 - 09:18 | Link to Comment j0nx
j0nx's picture

Agreed buzz. My thoughts exactly. I wonder how many execs would be driving up in a new Maranello on Jan 1st after demanding that the workers take an 8% pay cut and pensions be cut. Scorched Earth is the new black. At least that way ALL sides get the shaft. I encourage all workers to do the exact same thing unless their execs accept a 50% pay cut in wages and benefits as a good will gesture to the average workers. Leadership comes from the top and we are sorely missing that now in business and politics.

Fri, 11/16/2012 - 11:41 | Link to Comment ElvisDog
ElvisDog's picture

You seem to be under the impression that those Hostess execs will "get the shaft". The reality is they (a) probably already have enough money to live on the rest of their lives and (b) it will be easy for them to get a senior exec job at a new company because they have demonstrated their steely resolve at Hostess.

Your "scorched earth" approach may allow you to puff your chest, but the only people it really hurts are the workers who are mis-led down that path. "Yeah, we showed 'em. Fucking A. Oh, wait, my mortgage payment is due next week".

Fri, 11/16/2012 - 10:17 | Link to Comment ebworthen
ebworthen's picture

buzzsaw99 - Agreed, I'd like to hear the other side too.

Bankers and the rest of the finance industry don't need a union, they've got the FED (Congress too).

The death of an iconic American company has to be about more than just the union.

BTW - is this another sign of the "recovery"?

Fri, 11/16/2012 - 10:20 | Link to Comment ElvisDog
ElvisDog's picture

You can blame management mis-steps if you want, but it was the union leaders and specifically the union leaders that cost all their workers their jobs through arrogance and stupidity. Did they really think if they talked tough and didn't budge an inch, that Hostess management would cave in. Fucking stupidity is not an effective negotiation strategy.

One thing I don't understand about modern-day unions and modern-day progressives (I assume you are one), is they don't seem to grasp 5th-grade mathematics, addition and subtraction. If there's not enough money to pay the current contract, then there's not enough fucking money. What exactly was Hostess supposed to do? If they raise prices, sales volume falls and they don't make enough money. There was no way for them to pay that contract and stay in business.

Fri, 11/16/2012 - 10:56 | Link to Comment j0nx
j0nx's picture

Did the execs and board accept a 50% cut in compensation before asking the workers to accept their cut? If not then FOAD and burn the mofo down. Scorched Earth is the new black when it comes to corporate greed.

Fri, 11/16/2012 - 11:24 | Link to Comment ElvisDog
ElvisDog's picture

Regarding 50% exec pay cut, probably wasn't offered. But that is completely irrelevant. Ask yourself, who was hurt by the union's hardball tactics (that blew up in their faces)? The union reps? Nope. They work for the union and will simply move on to their next gig. In fact, their resume is strengthened by their tough negotiating techniques. The senior management of Hostess? Nope. They will move on to their next company or simply retire with their big pile of cash. The people who are hurt by your "FOAD and burn the mofo down" approach are the rank-and-file union workers. Good job. You made your point and screwed the working stiff. Congrats.

Fri, 11/16/2012 - 23:40 | Link to Comment j0nx
j0nx's picture

I think not. The execs will never work as execs again and don't have nearly enough money to retire knowing their lifestyles. Burn it down works great from where I sit. Everyone here got stiffed which is exactly what needs to happen.

Fri, 11/16/2012 - 08:36 | Link to Comment scatterbrains
scatterbrains's picture

See that's that old booolshit..  they just trying to ween me off my EBT card.. aint gonna work Romney.. nice try though.

Fri, 11/16/2012 - 09:04 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Not gonna work.....period. When do we get paid?

Fri, 11/16/2012 - 08:37 | Link to Comment gsferg
gsferg's picture

The company had an seriously under-funded pension plan. Go figure.

Fri, 11/16/2012 - 10:24 | Link to Comment Papasmurf
Papasmurf's picture

Pension plan?  That's the company rainy day fund.

Fri, 11/16/2012 - 08:37 | Link to Comment jughead
jughead's picture

No more Twinkies?  The freakin Mayans called it...THE WORLD IS ENDING!

I'm kinda a freaking out here...but please, no hugs, just throw me some Twinkies.

Fri, 11/16/2012 - 08:52 | Link to Comment kralizec
kralizec's picture

The zombie apocalypse will just totally suck without twinkies.  ;(

Fri, 11/16/2012 - 09:05 | Link to Comment Big Slick
Big Slick's picture

"The zombie apocalypse will just totally suck without twinkies."

Would suck worse without Remington and Mossberg

Fri, 11/16/2012 - 09:33 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Remington and Mossberg

 

Evil corporations....makes me want to go right out and crap on a cop car.

Fri, 11/16/2012 - 10:22 | Link to Comment GeezerGeek
GeezerGeek's picture

I haven't heard of Smith & Wesson or Sturm Ruger laying off anyone or threatening to go out of business. Anyone have a good explanation for this?

Maybe we should have elected Christie (?, NJ) as president. It appears that he could have kept Hostess in business all by himself.

Fri, 11/16/2012 - 08:41 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

in an insane world it's the sane who are nuts. buzz guess which one you are. oh you gotta phone the Whitehouse first ok.

Fri, 11/16/2012 - 08:39 | Link to Comment lolmao500
lolmao500's picture

BALLS. SHE HAS THEM.

Fri, 11/16/2012 - 08:41 | Link to Comment lizzy36
lizzy36's picture

Fri, 11/16/2012 - 08:45 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

damn you lizzy damn you...oh the humanity.

Fri, 11/16/2012 - 08:47 | Link to Comment williambanzai7
williambanzai7's picture

Is this one of the new Goldman partners?

Fri, 11/16/2012 - 09:18 | Link to Comment Silverhog
Silverhog's picture

I think those are her two pet turkeys.

Fri, 11/16/2012 - 09:29 | Link to Comment williambanzai7
williambanzai7's picture

A moment of silence for the brave photographer who took this photo and expired seconds later...

Fri, 11/16/2012 - 09:56 | Link to Comment sunnyside
sunnyside's picture

Though an inanimate object, I mourn for the chair.

Fri, 11/16/2012 - 10:06 | Link to Comment krispkritter
krispkritter's picture

Chair? What chair?

Fri, 11/16/2012 - 10:24 | Link to Comment GeezerGeek
GeezerGeek's picture

For a moment I thought you were working your Photoshop magic again. Then I saw it wasn't yours.

The picture makes me want to move to NYC and vote for Bloomberg.

Fri, 11/16/2012 - 09:27 | Link to Comment my puppy for prez
my puppy for prez's picture

That is just so wrong in so many ways......

Fri, 11/16/2012 - 09:30 | Link to Comment Dr. Engali
Dr. Engali's picture

I don't eat Twinkies now, and this just made certain I won't in the future.

Fri, 11/16/2012 - 09:57 | Link to Comment Calculated_Risk
Calculated_Risk's picture

How does she shave? Wrap your brain around that one!

Fri, 11/16/2012 - 10:42 | Link to Comment redeals
redeals's picture

lawn service -- weed eater

Fri, 11/16/2012 - 10:53 | Link to Comment Temporalist
Temporalist's picture

I'm still working on - how does she go to the bathroom, how does she find underwear that fits, how does she get into a car, how does she walk through any door, how does she walk down stairs, how does she ever stand up?

Fri, 11/16/2012 - 10:23 | Link to Comment ElvisDog
ElvisDog's picture

Got to hand it to that woman, she is owning it. Not only did it take years to acheive those thighs, but she is bringing them to the public with that two-piece .

Fri, 11/16/2012 - 10:25 | Link to Comment Cosimo de Medici
Cosimo de Medici's picture

I'm bringing this picture to the hearing next time the Kansas School Board insists on teaching "Intelligent Design".  Of course they'll try to argue that God bought his wind tunnel in China.

Fri, 11/16/2012 - 08:41 | Link to Comment lordbyroniv
lordbyroniv's picture

This is really bad news guys.

 

Jesus.

 

End of the world.

 

:(

Fri, 11/16/2012 - 08:49 | Link to Comment Catullus
Catullus's picture

Another union destroys jobs.  It's how they've always operated.  Everyone involved is just lucky they didn't turn violent as they normally do. 

I guess Hostess didn't have enough workers in swing states or enough derivatitives on their debt for Obama to send in Steve RatBoy to fuck over creditors.

Fri, 11/16/2012 - 09:22 | Link to Comment j0nx
j0nx's picture

Greedy execs destroyed another company. FIFY. If someone shows me that the execs at Hostess agreed to a 50% cut in their pay and benefit package after asking the workers to do the same then I will humbly accept that what was done here is the fault of the unions. Otherwise fuck that.

Fri, 11/16/2012 - 11:18 | Link to Comment WillyGroper
WillyGroper's picture

Much like the austerity our elected reps will impose on themselves to save us from the fiscal cliff they created. 

Fri, 11/16/2012 - 09:31 | Link to Comment semperfi
semperfi's picture

PARASITES destroy the host(ess) body.  That's what they do.  And this is a microcosm of greater USA.  The 47% PARASITE NATION is destroying the host body USA. 

FUCK UNIONS

FUCK PARASITES

Fri, 11/16/2012 - 09:36 | Link to Comment j0nx
j0nx's picture

I'm still waiting for someone to show me that the execs took a huge hit in their compensation before asking the workers to do the same? Bueller, bueller? Down arrowing me before you show me the proof is unsportsmanlike.

Fri, 11/16/2012 - 10:52 | Link to Comment Dumpster Fire
Dumpster Fire's picture

Gregory Rayburn, a restructuring expert who took over as chief executive last month, said the top four Hostess executives reporting to him agreed to cut their annual salaries to $1 until the company either emerges from bankruptcy or Dec. 31, the Wall Street Journal reported. Four other executives agreed to return pay increases they received last July, six months before the company’s January bankruptcy filing.

 

http://blog.chron.com/lorensteffy/2012/04/hostess-execs-find-their-paych...

Fri, 11/16/2012 - 15:32 | Link to Comment Cathartes Aura
Cathartes Aura's picture

from Dumpster's link,

The committee of unsecured creditors said the company switched executive pay from performance-based bonuses to salary in what appears to be a maneuver around bankruptcy limits on retention pay, the Wall Street Journal reported.

According to the paper:

Last July, the court documents said, the compensation committee of Hostess’s board approved an increase in then-chief executive Brian Driscoll’s salary from to $2.55 million from around $750,000. The company had hired restructuring lawyers in March 2011, the creditors said, and filed for bankruptcy protection on Jan. 11.

Mr. Driscoll is no longer with the company and wasn’t reached for comment.

A spokesman for Hostess said Wednesday the company doesn’t believe the creditors’ “theory has any basis in law.” He said the executives’ salaries were increased at a routine compensation review “to align them with industry standards and because the executives were being asked to take on significant additional responsibilities associated with trying to restructure the company outside of bankruptcy proceedings.”

Not surprisingly, news of the executive pay changes outraged unions representing Hostess workers, who have been asked to accept a pay freeze as part of the company’s reorganization.

http://blog.chron.com/lorensteffy/2012/04/extreme-filling-twinkie-makers...

kind of makes the point, hmm?  funneling the fiat upwards, the new norm - let's give those execs a rousing cheer!

still, it's so much fun to defend eating "twinkies" *wink wink* and post fat people pics to mock.

Fun Club!!!

Fri, 11/16/2012 - 23:47 | Link to Comment j0nx
j0nx's picture

Amen brother. My point EXACTLY. FUCK these exec mofos. Like the average workers weren't being asked to take on even more responsibility but their pay sure as shit wasn't tripled for their efforts now was it. Burn it down. May all the regular workers have the strength to do what these workers did. Either way eventually they are losing their jobs anyway. May as well be on their terms and take down all the greedy execs with them before they have a chance to loot the company any more than they already have. My patienece for this shit = ZERO.

Fri, 11/16/2012 - 08:42 | Link to Comment Uncle Remus
Uncle Remus's picture

Bloomburg should be happy.

Fri, 11/16/2012 - 08:46 | Link to Comment DanDaley
DanDaley's picture

Family Feud:

Michelle is extatic over the death of Twinkies, while Barry Frank-Marshall-Davis Obama is crying for his unions.  So sad, so sad.

Fri, 11/16/2012 - 08:47 | Link to Comment buzzsaw99
buzzsaw99's picture

They shouldn't call this fight club they should call it billionaire dick sucking club.

Fri, 11/16/2012 - 09:27 | Link to Comment Dr. Engali
Dr. Engali's picture

Why because we believe that a business owner should be able to have a return on their investment and not overpay some schlub for watching a machine stick a twinkie in a package?

Fri, 11/16/2012 - 10:57 | Link to Comment hardcleareye
hardcleareye's picture

The old question, how much of a return on there investment should they be due???? (Remember pigs get fed and hogs get slaughtered in lean times....)

If the investors are dumb asses are they still due a "ROI"? 

Should the ones paying the price for the mistakes be the workers?  And investors/management not held accountable?

"“The crisis facing Hostess Brands is the result of nearly a decade of financial and operational mismanagement that resulted in two bankruptcies, mountains of debt, declining sales and lost market share,” the union said yesterday in a statement. The company “attempted to resolve the mess by attacking the company’s most valuable asset -- its workers.”

IMO it is not that cut and dry.  The only reason there is a union in a facility is because somewhere along the way management dropped the ball........  that is why union's exist, bad incompetent management.... (of course union workers need there own "union's" to protect them from union management, which IMO is usually extremely incompetent.....)

Just so you know the Twinkies are put in the package in a automated production line, the operation and maintenance of the automated production line is done by a trained skilled workers, not a "sclub",,,,  you obviously missed "management charm school"...... lol

A little clarification, I have never been in a union and have always sat on the management side of the table........

Fri, 11/16/2012 - 15:35 | Link to Comment Cathartes Aura
Cathartes Aura's picture

aye, best to concentrate the corporate wealth in a few special hands, and keep it out of the worker's dirty fists, who knows what they might do with monies. . .

Fri, 11/16/2012 - 08:47 | Link to Comment rodocostarica
rodocostarica's picture

Best to just get it over with now. Bloomberg would have shut em down anyway for the high sugar content of the products.

Fri, 11/16/2012 - 08:52 | Link to Comment Zgangsta
Zgangsta's picture

Yo Ding Dong man.  Ding Dong.  Ding Dong yo.

Fri, 11/16/2012 - 10:17 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

You beat me to it.  I can't freaking believe someone else posted that lyric.

Fri, 11/16/2012 - 08:53 | Link to Comment Cman5000
Cman5000's picture

Well that turned out good ...

Fri, 11/16/2012 - 08:54 | Link to Comment Seasmoke
Seasmoke's picture

I was wondering why I just paid 99 cents for a loaf of Wonder. Boy those are some well known brand names , will be strange not seeing them. Sums fucking union thugs all need to choke on a Twinkie.

Fri, 11/16/2012 - 09:50 | Link to Comment Whoa Dammit
Whoa Dammit's picture

99 cents for a loaf of Wonder Bread, when all of the other bread in the grocery store is $2.99 and up. That should tell you the real story. All of their product lines were underpriced given the rising cost of corn and wheat, Either management was seriously delusional about their input costs, or (most likely) it was a designed fail for one of their buddies to pick up the pieces of the company for pennies  (after they vaporized the pension fund) while hiring back senior management.

Fri, 11/16/2012 - 10:26 | Link to Comment ElvisDog
ElvisDog's picture

$2.99? where do you live? In my neck of the woods, regular price for bread is $5-6 a loaf.

Fri, 11/16/2012 - 14:07 | Link to Comment Lednbrass
Lednbrass's picture

$2.99? In my neck of the woods its usually 2/$4.

I don't think I ever want to be near your woods, sounds like they should be left to burn down.

Fri, 11/16/2012 - 08:58 | Link to Comment Massholio
Massholio's picture

Maybe the union knew they ship was going down and wanted thier free shit while they could still get it.

Fri, 11/16/2012 - 09:01 | Link to Comment Nikao7
Nikao7's picture

I undertstand why there are so many who hate unions.  But not all regions are the same.  I work out of Central Illinois and I can tell you that there is no comparison to Industrial Painters here and one's say in New York,  Detroit,  etc.  I've worked with guys from those areas and was appauled at there work ethic.  They don't last long with a contractor around my parts.  Every job I've worked (minus BP refinery in Northwest Indiana) it's balls to the wall.  Along with many skipped breaks to get the job done on time(Union worker skipping a break??? Surely I jest,  NOT).  The guys mentioned above will go out of their way to drag the job out(along with gravy o.t. pay).  I've seen it first hand and heard about it often.  That shit is Greek to me.  Just sayin.....

Fri, 11/16/2012 - 09:41 | Link to Comment Orly
Orly's picture

That is the mind-set that should be fostered in a union.  Unfortunately, it is not the norm.

I did a stint at the VA hospital and the guy I was working with was the union liaison for the hospital workers.  He was an MRI tech.  Come six o'clock, he told the boss, "Hey, it's my quittin' time."  Boss says, "Yeah well, such and so is running a little late, so I don't have anyone to take over right now."

At six o'clock, he got up and clocked out...leaving a veteran of a foreign war inside the MRI machine.  Boss noticed half an hour later.

Now that's what a union is to me.  Just self-entitled, lazy idiots who hide behind "rules and regulations" to get away with murder.

:/

Fri, 11/16/2012 - 09:57 | Link to Comment jayman21
jayman21's picture

It sounds like a narrative from Fox News or MSNBC depending on what the color of the day is(Red vs. Blue).

Fri, 11/16/2012 - 10:05 | Link to Comment Orly
Orly's picture

Absolutely true story. Same guy was caught screwing an X-ray student upstairs.  He was reprimanded.  Then he got caught having his friend in Personnel omit that from his record.  She got fired.  He's still the union liaison.

:/

Fri, 11/16/2012 - 10:05 | Link to Comment Metalredneck
Metalredneck's picture

I was a steward (briefly) with United Steel & Rubber workers.  I quit after watching some of my cohorts doing coke & making a nap-room in the upper deck of the cardboard shelves.

I have seen good & bad, but the bad was fucking BAD.

Fri, 11/16/2012 - 10:46 | Link to Comment DOT
DOT's picture

The Davis-Bacon Legislation gives the hint about where work effeciency is best. Compare the wages for your area (Springfield Zone) to the wages up in Chicago. 

 

I miss my pole guns.

Fri, 11/16/2012 - 09:00 | Link to Comment orangegeek
orangegeek's picture

18,500 workers go down the tube and the "save their pension" government organization can't pay out.

 

See this chart of the SP500 falling?

 

http://bullandbearmash.com/chart/sp500-daily-drops-15-today-forecast/

 

It's not going to be pretty out there.

Fri, 11/16/2012 - 09:01 | Link to Comment Mr. Lucky
Mr. Lucky's picture

We need to put some twinkies in  cryogenic  storage.  Then hope a cure for this situation is found in the distant future.

Fri, 11/16/2012 - 10:37 | Link to Comment redeals
redeals's picture

No need. They have a half life of 5000 years.

Fri, 11/16/2012 - 13:50 | Link to Comment Mr. Lucky
Mr. Lucky's picture

Touche.

Fri, 11/16/2012 - 09:02 | Link to Comment topspinslicer
topspinslicer's picture

My union brothers, I, Barrack Hussein Obama, stand with you with food stamps at the ready, godspeed

Fri, 11/16/2012 - 09:20 | Link to Comment semperfi
semperfi's picture

Don't forget their ObamaPhones

Fri, 11/16/2012 - 09:02 | Link to Comment DavidC
DavidC's picture

I live in the UK. I tried Twinkies once, when someone brought some back from the USA. They were disgusting.

DavidC

Fri, 11/16/2012 - 09:09 | Link to Comment Big Slick
Big Slick's picture

Well maybe that's why we came to the New World, DavidC.

Fri, 11/16/2012 - 09:11 | Link to Comment Nikao7
Nikao7's picture

LMFAO

Fri, 11/16/2012 - 09:43 | Link to Comment Orly
Orly's picture

He would prefer a breakfast of bangers and kidneys with a side of Spotted Dick.

Fri, 11/16/2012 - 09:52 | Link to Comment Legolas
Legolas's picture

Stick to your Turkish Delight, then.  I'd take a twinkie over that any day.

I'm convinced that Turkish Delight is bleached, dried barf; probably devised by a Queen for her subjects.

Fri, 11/16/2012 - 09:54 | Link to Comment moonman
moonman's picture

Thats a surprise you would think they would be easy to eat for you rotten toothed Brits

Fri, 11/16/2012 - 10:40 | Link to Comment Cosimo de Medici
Cosimo de Medici's picture

There was a world survey taken a few years back to determine the World's Worst Cuisine.  You may be proud to know the UK came in 1st.  Philippines and Russia rounded out the top three. 

Take the Twinkies.  It's an improvement.

Fri, 11/16/2012 - 11:02 | Link to Comment Temporalist
Temporalist's picture

Says the people who invented deep frying Twinkies and Snickers to make them taste "better".

Fri, 11/16/2012 - 09:08 | Link to Comment wonderatitall
wonderatitall's picture

about time. so tired of the producers and owners complaining. close it down, go on strike. obama and the crime lords known as "union goons" will not stop unless on break destroying and looting. let them fend for themselves , that should be a nice spectacle....bastard union thugs stabbing each other in the back for 5 cents makes a nice festival for me. 

as our gubmint lords of corruption and fat union goons shout in rage i can laugh and enjoy myself. 

end the fasciti loving democrat dictatorship and ignore the useless idiots of the repubs. 

its time for a 3rd revolution and it begins by saying fuck you obama and bankers

Fri, 11/16/2012 - 09:18 | Link to Comment semperfi
semperfi's picture

"obama and the crime lords known as "union goons"

formally known as The Kenyan Thug and his Union Thug Army

Fri, 11/16/2012 - 09:08 | Link to Comment holdbuysell
holdbuysell's picture

It's events like these that scream with flashing lights that the standard of living in the US will drop, regardless of how much kicking and screaming ensues.

Got Math?

Fri, 11/16/2012 - 09:11 | Link to Comment flapdoodle
flapdoodle's picture

No more Twinkies, Ding Dongs and Ho Hos.

 

Truly a black day in history...

Fri, 11/16/2012 - 09:44 | Link to Comment dobermangang
dobermangang's picture

I love my Ho Hos.  They are so goooooooooooooood.

Fri, 11/16/2012 - 09:13 | Link to Comment Downtoolong
Downtoolong's picture

This sounds like a case for Goldman. I thought this was precisely the kind of problem they exist to solve. I can’t believe Goldman isn’t able to come up with some kind of derivative based on the Euro, interest rates, and carbon credits, to help them out of this jam.

As for me, I’m going out to buy a couple of cases of Twinkies today. They’ll be a collector item in five years and I’ll be selling them on eBay for $50 apiece. Surely you don’t think the fat fucks who typically buy these things have the willpower to avoid eating the last ones they own.  

Fri, 11/16/2012 - 10:35 | Link to Comment redeals
redeals's picture

And the scary thing is that in five years the twinkies would still be edible. Or at least as edible as a twinkie can be.

Fri, 11/16/2012 - 09:13 | Link to Comment lordbyroniv
lordbyroniv's picture

I draw the line at Table Talk pies....

 

if those cease to exist...

 

I am leaving America.

 

Fuck this shit.

Fri, 11/16/2012 - 09:19 | Link to Comment Big Slick
Big Slick's picture

DavidC says England is nice

Fri, 11/16/2012 - 10:10 | Link to Comment Metalredneck
Metalredneck's picture

No free phone, but we do have health care.  Bring a toque & shovel...

Fri, 11/16/2012 - 09:16 | Link to Comment Oldrepublic
Oldrepublic's picture

lots of interesting comments over at the wall street journal blog

on this company http://blogs.wsj.com/corporate-intelligence/2012/11/15/hostess-strike/ta...

 

Fri, 11/16/2012 - 09:14 | Link to Comment j0nx
j0nx's picture

It's always austerity for the little guy while the execs get bonused to the 9's and drive up in a Ferrari on Jan 1st. Perhaps scorched Earth is the best policy now for all concerned. At least that way both sides get the shaft and this insanity ends sooner. If there is one silver lining to this cloud it's that the execs involved will be humping the street looking for a new job along with all the union grunts and all of them will have a big black mark on their resume labeled HOSTESS.

Fri, 11/16/2012 - 11:15 | Link to Comment Temporalist
Temporalist's picture

Yeah!  And while we're at it why not just have flash mobs of shoplifters and looters because why should other people have things and why should companies be allowed to sell things that other people can afford to buy when others can't?

 

Oh?  That already happens?  Whocouldanoed?

Flash Mob in NYC's Bergdorf Goodman

http://www.youtube.com/watch?v=rFP7cXpLwP0

 

Urban Youths Loot $3,000 Worth of Designer Jeans in Chicago Flashmob

http://www.youtube.com/watch?v=8f6opssNxLY

 

Shoplifter Flash Mob

http://www.youtube.com/watch?v=ucLGpHeWU5I

 

Flash Mob: Urban Youths Pillage Walmart In Jacksonville

http://www.youtube.com/watch?v=4I_w60PzXoE

 

Urban Youths Pillage Convenience Store in Portland, Oregon (Third Flashmob in a Month)

http://www.youtube.com/watch?v=n2pDWkCJ1T8

 

Another Flash Mob Robbery, This Time in Dallas

http://www.youtube.com/watch?v=QCICkfL1qpY

 

Nordstrom Flash Mob / Case # 12-031295

http://www.youtube.com/watch?v=i604Bs4GoM4

Fri, 11/16/2012 - 23:49 | Link to Comment j0nx
j0nx's picture

Nothing you posted makes any sense and is not relevant AT ALL to my point.

Fri, 11/16/2012 - 09:14 | Link to Comment AU5K
AU5K's picture

Why is hostess allowed to fail, and other companies are bailed out?

Fri, 11/16/2012 - 09:16 | Link to Comment justanothersucker
justanothersucker's picture

Their management contributed to Romney?

Fri, 11/16/2012 - 11:29 | Link to Comment ElvisDog
ElvisDog's picture

Hostess should have made twinkies and solar panels or ho-hos and student loans. Then, they would have had no problems getting the govt bailout.

Fri, 11/16/2012 - 13:07 | Link to Comment Matt
Matt's picture

Ironically, the maker of Twinkies is NOT Too Big To Fail. 

Fri, 11/16/2012 - 15:17 | Link to Comment Big Slick
Big Slick's picture

"Why is hostess allowed to fail, and other companies are bailed out?"

Because 'Big Twinkie" has crappy lobbyists

Fri, 11/16/2012 - 09:15 | Link to Comment justanothersucker
justanothersucker's picture

Well, at least the BLS won't have to struggle to explain NEXT week's poor jobs report.  RIP Twinkies.  I'm going to Costco, LOADING UP and Ebay here I come!

Fri, 11/16/2012 - 09:16 | Link to Comment HurricaneSeason
HurricaneSeason's picture

This isn't over yet. Twinkie workers have been a member of the Gambino crime family for 60 years. We'll see what the judge thinks when he finds a horses head in his bed. "Back to work Twinkie men!"

Fri, 11/16/2012 - 09:16 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

I wish the same would happen to public schools and teachers unions. My property tax bill would evaporate.

Fri, 11/16/2012 - 09:22 | Link to Comment AynRandFan
AynRandFan's picture

Nice try, but public sector unions can just keep blackmailing us until we comply.

Fri, 11/16/2012 - 09:17 | Link to Comment khotel
khotel's picture

What demands were the unions making that Hostess was not willing to meet?  I haven't seen any details.

Fri, 11/16/2012 - 09:17 | Link to Comment fijisailor
fijisailor's picture

Well good riddance.  This junk food fest can fade into oblivion.  They get about the same rating as a coke dealer (both types).

Fri, 11/16/2012 - 09:18 | Link to Comment Seasmoke
Seasmoke's picture

If they just could have held on for six more months they could have got $100 for a loaf of Wonder.

Fri, 11/16/2012 - 09:21 | Link to Comment Pig Brotha
Pig Brotha's picture

I've been on both sides of the union/management scenario in NYC hotels, it is a fuckin' disgrace. You have illiterate pieces of shit barely able to speak the English language being treated as if they were untouchables because they are in the union. How about some dumb skill less fuck making $30+ per hour to wash dishes, or should I say feed and remove the dishes from a Hobart dish machine and do nothing but complain. Once these maggots are hired and enter the union it is nearly impossible to get rid of them regardless of work performance, attendance etc. As management we constantly try to create a better work environment (new cafeteria with free food, new lockers rooms, new uniforms, employee recognition days etc) and it is all a waste of time. The moment anything that could remotely be construed as a slight against a union member occurs, all hell breaks loose and they start screaming (literally) about their rights and call the business agent in. Unless you experienced this bullshit for yourself you have no idea how bad things are. The unions are destroying my industry, imagine having a 90% occupancy rate and still barley being able to keep the doors open. Unions cater to the least among the masses, those who don't give a fuck nor have the intelligence to realize they are destroying themselves.

Fri, 11/16/2012 - 09:56 | Link to Comment AnAnonymous
AnAnonymous's picture

As management we constantly try to create a better work environment (new cafeteria with free food, new lockers rooms, new uniforms, employee recognition days etc) and it is all a waste of time.
_____________________________________

Absolute waste of time. It reads more like 'american' attempts by the 'american' management to justify their management positions (something had to be done in order to fill those management work hours) than attempts to better the work environment.

Typical 'american' attitude, as 'americans' run a business of extorting the weak, farming the poor.

This kind of 'american' initiatives only have one goal: help the so called helper.

And you will find it anywhere there are 'americans', public or private sector, charity or for profit businesses etc

This is how you spur consumption in an 'american' environment.

Fri, 11/16/2012 - 10:06 | Link to Comment Pig Brotha
Pig Brotha's picture

If you weren't such a large American penis envying Chink I would respond to you...

Fri, 11/16/2012 - 10:13 | Link to Comment Metalredneck
Metalredneck's picture

One of my friends makes those Hobart dishwashers.  He gets $14.75/hr.

Fri, 11/16/2012 - 12:32 | Link to Comment Pig Brotha
Pig Brotha's picture

He must feel great knowing that a person that just pushes the rack of dishes in the machine and pulls them out when completed is making more than double the salary of the person that helped build the machines. BTW out of the 7 hours dishwashers work a day (sorry we don't do 8 hour days in NYC) he might actually work 2 or 3 hours. And no you can't assign different work during down time, his title is dishwasher and that is all he will do. Yep we are most definitively ready to compete on the world market...

Fri, 11/16/2012 - 10:43 | Link to Comment Alpha Monkey
Alpha Monkey's picture

I've never had a union job, unless you count military service, which to me is just a giant fucking union.  However, I have had a few non-union jobs.  I'd have to say, listening to the way you talk about being a manager and remembering the way my managers were, it seems to me like there is a huge failure on the side of management.  I have yet to meet a truly competent manager that wasn't just another self serving POS like you sound to be.  Oooh, I see you're trying to make it sound like you are the good guy, getting new cafeterias, lockers, etc. but last time I checked, that wasn't the sole job of a manager.  Managers are meant to be leaders, and as such, they are meant to be able to connect with people and inspire them towards a common goal.  Most of what I've seen has been using things like, "we got you a new coffee maker, so now you should be 20% more effecient and productive.... we need to justify this cost somehow, or we'll have to start cutting back on labor..."  Leadership isn't meant to just wipe asses and then hold that asswiping over someone as a reason for them to work harder.  It surely sounds to me like you have an Us vs Them mentality instead of a leadership mentality.  If you are the common example of what passes for leadership in your company, then it's no wonder you can have a 90% occupancy rate and still barely be able to keep the doors open.

It all comes down to entitlement.  You feel entitled to worker loyalty, when you have done shit to earn it, and the workers feel entitled to higher wages when they are working their asses off to support the poor leadership taking the biggest peices of the pie.  I see there's a lot of plus signs on your name.  I wonder how many of them consider themselves proper leaders, when in fact they are nothing more than glorified slave drivers with no real backbone or intelectual creativity that's required to connect with people and produce real results.  It's easy to flail a whip around.

I'm glad you posted that racist comment in response to a response of your post, it makes understanding your small mind that much easier.  You don't deserve to be a manager, and there's no way you should consider yourself a leader.

Fri, 11/16/2012 - 12:12 | Link to Comment Pig Brotha
Pig Brotha's picture

It all comes down to entitlement.  You feel entitled to worker loyalty, when you have done shit to earn it,

Apparently you do not read/comprehend English very well. As I stated I have been on both sides on the union/management scenario meaning that I started in the union (even the military union) many years ago and worked my way up to executive management. Iv'e learned leadership through a concept of "leadership by example" and most of my team are loyal to me and the property. However there is a hardcore 25 - 30% of the union staff that don't give a fuck, you try operating a business when 30% of your staff are not even trying. As far as inspiring people, I have over 10 men in the field currently that I have assisted in moving from hourly wage earners to middle and upper management, something they never thought  possible. I help manage over 1000 employees at my property, all within the confines of the collect bargaining agreement so leadership is not a luxury it is a necessity. And as far as I feeling entitled to worker loyalty I don't feel entitled, I earn loyalty. You apparently are living in a far different world than I, where managers are not held accountable. In my 14 years at my current property we've had 9 general managers, each held accountable for their lack of performance. I assure you a commensurate amount of  union members have not been terminated during this time.

Regarding my "racist comment", man the fuck up bitch. This is fight club.

Fri, 11/16/2012 - 16:00 | Link to Comment waterhorse
waterhorse's picture

lol on ripping the other poster for "entitlement."  People who live in glass houses...

Fri, 11/16/2012 - 09:21 | Link to Comment Pumpkin
Pumpkin's picture

Well Fuck!  Now the shit has hit the fan!  No more fucking twinkies?

Fri, 11/16/2012 - 09:22 | Link to Comment Professor Fate
Professor Fate's picture

It's a victory for M & M's (Michael and Michelle).  Let all rejoice with another anti-obesity victory for the komrades.  The children shall survive on cabbage smoothies (under 16 ounces of course)

Fri, 11/16/2012 - 09:28 | Link to Comment FrankDrakman
FrankDrakman's picture

I can hear Bambam now:

"That Twinkie you're eating? You didn't bake that."

Fri, 11/16/2012 - 09:37 | Link to Comment Vince Clortho
Vince Clortho's picture

$$Billions for Bank$ta$ but not a penny for Twinkies.

Fri, 11/16/2012 - 09:37 | Link to Comment wagthetails
wagthetails's picture

time for a Twinkies summit.  although Michelle might take issue with that. 

This is only the beginning i fear.  the end will be the eventual insurmountable gov't divide...then the people strike.

Fri, 11/16/2012 - 09:40 | Link to Comment semperfi
semperfi's picture

how about the "producers", the "taxpayers" strike - where do I sign up?

Fri, 11/16/2012 - 09:50 | Link to Comment Let The Wurlitz...
Let The Wurlitzer Play's picture

Taxpayers Unite - It not just a slogan anymore.

 

Fri, 11/16/2012 - 09:38 | Link to Comment Fix It Again Timmy
Fix It Again Timmy's picture

Bakers' Union - bringing a dull, 1" knife to a gun fight.  Seriously, is this a good environment in which to lose your jobs?  It's not like you have indispensable skills that require 8 - 10 years of post-high school education.  Have your union-employed advisors lost their jobs?  Rule #1 - don't be a dumb shit.  Rule #2 - repeat rule #1.  I used to work for the International Brotherhood of Firemen & Oilers - there are times to play your hand and times to fold 'em.

Fri, 11/16/2012 - 09:37 | Link to Comment Sig Sauer
Sig Sauer's picture

"Finally, those 18,500 new initial jobless claims next week? Sandy's fault"

Priceless

Fri, 11/16/2012 - 09:39 | Link to Comment semperfi
semperfi's picture

nope - still Bush'es fault

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