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Will This Be Blamed On Sandy Too?

Tyler Durden's picture





 

Following yesterday's news that the Hostess mediation with its workers has collapsed, formalized earlier today, we get the next update which will likely make for a less than happy thankgsiving for a whole lot of former workers:

  • HOSTESS CEO SAYS MUST TERMINATE 15,000 EMPLOYEES TODAY

We wonder if this surge in initial claims reported next week will also be attributed to Sandy?

 


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Wed, 11/21/2012 - 14:05 | Link to Comment stinkhammer
stinkhammer's picture

if they fire me today; i'm taking my red swingline with me!

Wed, 11/21/2012 - 14:11 | Link to Comment slaughterer
slaughterer's picture

Memo

From: Hostess CEO

To: My 15,000 employees

Happy Thanksgiving.  You are all fired.

Management can collect bonus after we sell the last Twinkies machine.

(Cue: Market surge.  CNBC spin.  And Krugman OpEd seeing this as positive.)

 

 

Wed, 11/21/2012 - 14:13 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

If the executives of this company had taken a pay cut, the company would have been saved. I've done the math, and I calculate that executive pay was 30% of revenue. The unions had no responsibility at all. Only rich people have personal responsibility, not normal people like me.

Wed, 11/21/2012 - 14:19 | Link to Comment EscapeKey
EscapeKey's picture

1/10.

I'm sorry, this is simply terrible trolling.

A simple google search would have told you that Hostess executive salaries were cut to $1 back in April.

http://www.bloomberg.com/video/90283695-big-number-hostess-slashes-execu...

You could at the very least have said "compensation package".

Wed, 11/21/2012 - 14:20 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

Ok smart Alec ... so you support rich successful executive bigshots over average Joe unions just trying to get a fair unconditional pension contribution? Trickle down economics doesn't work moron. 

Wed, 11/21/2012 - 14:24 | Link to Comment camaro68ss
camaro68ss's picture

MDB, your brain is to small to understand free market Principles and wage price points set by those free markets.

Wed, 11/21/2012 - 15:43 | Link to Comment eatthebanksters
eatthebanksters's picture

Folks, no one is as bent as MDB appears...he can't be real in his opines....it's all a big piss at the liberal estatblishment.  If he is for real then he must be in a different country and a relic of some communist regime where he got extra bacon as a kid for blowing the local party boss.

Wed, 11/21/2012 - 16:00 | Link to Comment Badabing
Badabing's picture

Bullish for Drakes I like funny bones

Wed, 11/21/2012 - 14:23 | Link to Comment slaughterer
slaughterer's picture

This is a fake MDB.  The name has a "_" after it.

Wed, 11/21/2012 - 14:28 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Fractal MDB, bitches!

Thu, 11/22/2012 - 08:21 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

What a bitch!

Wed, 11/21/2012 - 14:28 | Link to Comment Sauk Leader
Sauk Leader's picture

Good eye, it looks like Max Fisher stole MDB's identity.

Wed, 11/21/2012 - 14:33 | Link to Comment resurger
resurger's picture

lol is he still alive?

Wed, 11/21/2012 - 16:08 | Link to Comment Nobody For President
Nobody For President's picture

Agreed. The real MDB is much more subtle, and reels in the suckers by the bushel - one of the best trolls around and up to ZH standards. This fake is using a sledgehammer, instead of the real MDB's tackhammer. Or maybe it's the same dude trying different styles, in which case - go back to the tackhammer, much more entertaining.

Wed, 11/21/2012 - 14:31 | Link to Comment fuu
fuu's picture

Both versions registered 1 year 19 weeks ago. The one with _ in front is only 19 weeks old.

Thu, 11/22/2012 - 01:29 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Rome burns. ZH is infested by MDB groupies. You can't make this shit up.

Wed, 11/21/2012 - 14:23 | Link to Comment EscapeKey
EscapeKey's picture

0/10.

A good troll does not resort to name-calling this early in the debate.

Wed, 11/21/2012 - 14:38 | Link to Comment bunnyswanson
bunnyswanson's picture

What the fuck are you talking about?  CEO compensation includes perks that by far make up for this $1.00 salary.  The multimillionaires now running monopolized industry have drained profits and cornered their markets during mergers and acquisitions (Bain Capital). 

Highest paid CEOs:

http://blogs-images.forbes.com/halahtouryalai/files/2012/06/top-and-bottom.gif

Wed, 11/21/2012 - 15:39 | Link to Comment Joe Davola
Joe Davola's picture

The election's over, give up Bain already.  Read Tyler's article from a few days ago which adressed the multimillionaire D's who run the M&A firm involved in Hostess - as well as the looking 'out for the little guy' Dick Gephart's skim from the deals.

Wed, 11/21/2012 - 15:39 | Link to Comment Metalredneck
Metalredneck's picture

When can I make a Hitler reference?  Before I post cat memes?

Mon, 12/10/2012 - 03:42 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

You have to choose? What kind of troll are you?

Hitler Kitten Speaketh

Wed, 11/21/2012 - 14:24 | Link to Comment akak
akak's picture

You're really off your game today, MDB (not that I appreciate your usual shtick anyway).

Wed, 11/21/2012 - 14:32 | Link to Comment Let The Wurlitz...
Let The Wurlitzer Play's picture

Trickle down economics doesnt work well for lazy people but it is much better than "trickle down socialism".

 

Wed, 11/21/2012 - 14:59 | Link to Comment AldousHuxley
AldousHuxley's picture

trickle down economics is socialism you idiot.

 

socialism for the bankers as they get the first dips into fed money.

first dips = inside trading

 

 

Wed, 11/21/2012 - 15:34 | Link to Comment ZerOhead
ZerOhead's picture

http://en.wikipedia.org/wiki/Trickle-down_economics

Trickle down economics provides a veritable golden shower to the wage slaves below...

Thu, 11/22/2012 - 11:49 | Link to Comment goldfish1
goldfish1's picture

"Today's wage slave is not much different than yesterday's. They are woken to go to work, they punch in and raise capital for their boss, they punch out and spend the little bit of money they earned, go to sleep to rest for the next day, and repeat until they retire or die. They are bound to their bosses by credit card debt, mortgages, and family welfare. In today's tough economic times, wage slaves are bound more than ever. They know if they quit or demand more from their employers they will be easily replaced."

Sun, 12/09/2012 - 15:41 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

The trick is to have no debt, no mortgage & to plow all your extra money into safe investments like gold, silver & land you control completely - and emigrate if you must to do all this - all before having children. Then you can quit when you want, learn how to boss your bosses in a polite but business-sensible manner & keep established, safe & prepped up for disasters. Stored food, water, silver, gold, medicine & tools - that's how you do it.

Wed, 11/21/2012 - 16:42 | Link to Comment Marc45
Marc45's picture

There's a reason that rich people make the rules.  They work much smarter that your "average joe" so they don't have to be at the mercy of a boss.

Why are you trying to penalize people who are smarter, more successful and make a lot more money than you?  Insecurity?

Sun, 12/09/2012 - 15:30 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Unions need to organize bigger strikes & be willing to retrain workers so they can outright quit certain industries to punish them permanently for underpayment - and not retrain their replacements EVER.

Wed, 11/21/2012 - 14:28 | Link to Comment bunnyswanson
bunnyswanson's picture

As typical these days, there is far more to the story. 

 

"...Driscoll, the CEO, departed suddenly and without explanation in March. It may have been that the Teamsters no longer felt it could trust him. In early February, Hostess had asked the bankruptcy judge to approve a sweet new employment deal for Driscoll. Its terms guaranteed him a base annual salary of $1.5 million, plus cash incentives and “long-term incentive” compensation of up to $2 million. If Hostess liquidated or Driscoll were fired without cause, he’d still get severance pay of $1.95 million as long as he honored a noncompete agreement.

When the Teamsters saw the court motion, Ken Hall, the union’s secretary-treasurer and No. 2 man, was irate. So much, he thought, for what he described as Driscoll’s “happy talk” about “shared sacrifice.”

The board replaced Driscoll with Greg Rayburn, a restructuring expert Hostess had hired as a consultant only nine days earlier. Rayburn was a serial turnaround specialist who had worked with such high-profile distressed businesses as WorldCom, Muzak Holdings, and New York City Off-Track Betting. He became Hostess’s sixth CEO in a decade. Within a month of taking over, Rayburn had to preside over a public-relations fiasco. Some unsecured creditors had informed the court that last summer — as the company was crumbling — four top Hostess executives received raises of up to 80%. (Driscoll had also received a pay raise back then.) The Teamsters saw this as more management shenanigans. “Looting” is how Hall described it in TV interviews.

Rayburn announced that the pay of the four top executives would go down to $1 for the year, but that their full salaries would be reinstated no later than Jan. 1. Hostess pays Rayburn $125,000 a month, according to court filings.

 

Here’s the union’s take:

Over the past eight years since the first Hostess bankruptcy, BCTGM members have watched as money from previous concessions that was supposed to go towards capital investment, product development, plant improvement and new equipment, was squandered in executive bonuses, payouts to Wall Street investors and payments to high-priced attorneys and consultants.

BCTGM members are well aware that as the company was preparing to file for bankruptcy earlier this year, the then CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000) and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256.

Over the past 15 months, Hostess workers have seen the company unilaterally end contractually-obligated payments to their pension plan. Despite saving more than $160 million with this action, the company continues to fall deeper and deeper into debt. A mountain of debt and gross mismanagement by a string of failed CEO’s with no true experience in the wholesale baking business have left this company unable to compete or survive.

 

http://americablog.com/2012/11/hostess-twinkie-ceo-salary.html

Wed, 11/21/2012 - 18:09 | Link to Comment dark pools of soros
dark pools of soros's picture

the crowd here doesn't care about worker contracts.. they only like ZH since they hate bigger snakes then themselves

Wed, 11/21/2012 - 14:17 | Link to Comment camaro68ss
camaro68ss's picture

go to china you F***ing commie. Stop poisoning my country with the filth that’s spewing out of your mouth.

Wed, 11/21/2012 - 14:18 | Link to Comment economics9698
economics9698's picture

Sometimes MDB is not funny.  I think the 30% was a attempt at humor.

Wed, 11/21/2012 - 14:19 | Link to Comment massbytes
massbytes's picture

Hostess revenue was around 2.5-2.7 billion.  I doubt what you are saying is true.  But don't let that stop you from a good story.

Wed, 11/21/2012 - 15:07 | Link to Comment q99x2
q99x2's picture

Wait until Obamacare comes in full tilt and the workers get sent back to the stone age via layoffs. The Obamaphones are going to be ringing off the hook then. This ain't nothing. Although it shouldn't be too bad if you are in one of the states that opted out.

Wed, 11/21/2012 - 15:49 | Link to Comment eatthebanksters
Wed, 11/21/2012 - 15:51 | Link to Comment Joe Davola
Joe Davola's picture

Even though there is the opt out clause in that Obamination, watch out for that Supremacy Clause lurking just around the corner.

Wed, 11/21/2012 - 15:33 | Link to Comment Navymugsy
Navymugsy's picture

Fake trolls? This is inexcuseable!

Thu, 11/22/2012 - 11:40 | Link to Comment Ctrl_P
Ctrl_P's picture

Running with the theme today...

 

This is inconceivable!

 

There, fixed.

Wed, 11/21/2012 - 15:40 | Link to Comment eatthebanksters
eatthebanksters's picture

MDB...love the humor!

Wed, 11/21/2012 - 23:10 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

Pssstt...MDB...

Just for the record ,you,are not normal.

Wed, 11/21/2012 - 14:32 | Link to Comment slaughterer
slaughterer's picture

Hostess goes Galt.  

Wed, 11/21/2012 - 15:46 | Link to Comment eatthebanksters
eatthebanksters's picture

Where is John Galt?

Wed, 11/21/2012 - 14:48 | Link to Comment Magnix
Magnix's picture

I thought it was 18.5K employees?

Wed, 11/21/2012 - 14:09 | Link to Comment economics9698
economics9698's picture

It's Herbert Hoover's fault.

Wed, 11/21/2012 - 14:25 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

 

 

Hoover's role as founder of a revolutionary program of government planning to combat depression has been unjustly neglected by historians. Franklin D. Roosevelt, in large part, merely elaborated the policies laid down by his predecessor. To scoff at Hoover's tragic failure to cure the depression as a typical example of laissez-faire is drastically to misread the historical record. The Hoover rout must be set down as a failure of government planning and not of the free market. To portray the interventionist efforts of the Hoover administration to cure the depression, we may quote Hoover's own summary of his program, during his presidential campaign in the fall of 1932:

 


"We might have done nothing. That would have been utter ruin. Instead we met the situation with proposals to private business and to Congress of the most gigantic program of economic defense and counterattack ever evolved in the history of the Republic. We put it into action.... No government in Washington has hitherto considered that it held so broad a responsibility for leadership in such times.... For the first time in the history of depression, dividends, profits, and the cost of living, have been reduced before wages have suffered.... They were maintained until the cost of living had decreased and the profits had practically vanished. They are now the highest real wages in the world."


 

http://www.lewrockwell.com/rothbard/rothbard184.html

Wed, 11/21/2012 - 17:08 | Link to Comment KCMLO
KCMLO's picture

Well we don't call it the Roosevelt Dam now do we?

Thu, 11/22/2012 - 01:35 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Ding ding ding!!! We have a winner, boys, girls, and MDB.

Wed, 11/21/2012 - 14:14 | Link to Comment Stoploss
Stoploss's picture

Let's hope the union workers are savers.. LOL..

So, how is the " you don't need the employers, they need you!!", union theme working out?

Wed, 11/21/2012 - 14:33 | Link to Comment Manthong
Manthong's picture

 There is an upside in this story.

15,000 or so monthly union extortion dues payments down the tubes.

It’s just a shame that the union bosses are all still collecting their outrageous pay and benefits.

 

 

Wed, 11/21/2012 - 14:51 | Link to Comment Tortfeasor
Tortfeasor's picture

So much to be thankful for.

Fri, 11/23/2012 - 17:46 | Link to Comment TruthHunter
TruthHunter's picture

Let's hope the union workers are savers.. LOL..

 

Expect a 20k spike in foreclosures in about 3 months.

Wed, 11/21/2012 - 14:06 | Link to Comment vinayjha
Wed, 11/21/2012 - 14:07 | Link to Comment Skateboarder
Skateboarder's picture

Bonuses for management, pink slips for the workers. Nothing new here?

Horrible Thanksgiving for those poor folks though. :(

Wed, 11/21/2012 - 14:14 | Link to Comment camaro68ss
camaro68ss's picture

truck drivers making 125k arnt poor folks.

(no that there fired they will be)

 glad the union really stuck to there guns on this one. really showed there for there people. hahaha

hostess is a privet company. they can pay managment all the profits they want.

Wed, 11/21/2012 - 14:16 | Link to Comment ITrustMyGut
ITrustMyGut's picture

were you born this self destructively stupid.. or did you transform a modestly intelligent brain into mush force feeding yourself limpdick and beck?

Wed, 11/21/2012 - 14:20 | Link to Comment camaro68ss
camaro68ss's picture

you must be a union rep.

get back to work knuckle dragger.

Wed, 11/21/2012 - 14:29 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Astroturf is union "work."

Wed, 11/21/2012 - 15:50 | Link to Comment ITrustMyGut
ITrustMyGut's picture

hers a clue...  YOU are labor... and have not a chance in hell to ever be anything but labor...

Thu, 11/22/2012 - 01:36 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Will you be adding value to the conversation anytime soon?

Wed, 11/21/2012 - 14:21 | Link to Comment akak
akak's picture

The precision and elocution of your exquisitely grammatical erudition simply overwhelms me.

Wed, 11/21/2012 - 14:29 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Indubitably.

Wed, 11/21/2012 - 15:30 | Link to Comment Dugald
Dugald's picture

Coo'errr Wot e say?

Wed, 11/21/2012 - 16:47 | Link to Comment Grifter
Thu, 11/22/2012 - 01:37 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Can I get a side of fries with that?

Wed, 11/21/2012 - 15:36 | Link to Comment nodhannum
nodhannum's picture

So pray tell, why doesn't the union buy the company and live in nirvana forever after?

Wed, 11/21/2012 - 14:07 | Link to Comment RacerX
RacerX's picture

Does the severance package include a sampler pack of twinkies, etc?

Wed, 11/21/2012 - 14:14 | Link to Comment Big Corked Boots
Big Corked Boots's picture

All U can eat!

Wed, 11/21/2012 - 15:13 | Link to Comment DeadFred
DeadFred's picture

Caution: the LD50 for Twinkies is 3.72/ day.

Wed, 11/21/2012 - 14:08 | Link to Comment EscapeKey
EscapeKey's picture

Strongly bullish - that's 15,000 people who will sit at home and eat twinkies all day. Oh wait a mi

Wed, 11/21/2012 - 15:16 | Link to Comment fuu
fuu's picture

They will now qualify for 99 weeks funemployment, SNAP, WIC, O-Phones, and other assorted services. Gotta be bullish.

Wed, 11/21/2012 - 14:08 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

This is what happens when you warehouse Twinkies alongside DTCC records.

Wed, 11/21/2012 - 14:08 | Link to Comment HD
HD's picture

My twinkie is soggy...

Wed, 11/21/2012 - 14:14 | Link to Comment ptoemmes
ptoemmes's picture

Yeah, don't eat any Twinkies (or any other Hostess shit) dated on or after, say, Nov 14 2012 cause, you know, there might just be some Hostess shit in them.

Wed, 11/21/2012 - 14:12 | Link to Comment strangeglove
strangeglove's picture

Fried Twinky FIRE!

Wed, 11/21/2012 - 14:13 | Link to Comment Richard Head
Richard Head's picture

Blame it all on "The Big Hurt", Frank Hurt that is!

Wed, 11/21/2012 - 14:13 | Link to Comment piceridu
piceridu's picture

We wonder if this surge in initial claims reported next week will also be attributed to Sandy?

No it will be attributed to her really naughty sister Hoho
Wed, 11/21/2012 - 14:14 | Link to Comment Dr. Engali
Dr. Engali's picture

Have a happy fucking Thanksgiving. Forget about the turkey feel free to gab some reject twinkies on the way out the door.

Wed, 11/21/2012 - 14:16 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

".....reject twinkies..."

Is that an oxymoron?  :)

Wed, 11/21/2012 - 14:36 | Link to Comment Dr. Engali
Dr. Engali's picture

You caught that huh? ;->

Wed, 11/21/2012 - 14:15 | Link to Comment yogibear
yogibear's picture

It's Bush's fault! (sarc)

Wed, 11/21/2012 - 14:15 | Link to Comment lizzy36
lizzy36's picture

Horrible way for 15,000 to start thanksgiving.

Wed, 11/21/2012 - 14:17 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Good news. It wasn't just before Christmas.

/sarc

Wed, 11/21/2012 - 14:38 | Link to Comment gmrpeabody
gmrpeabody's picture

I was asked to fire a young assistant once, after close on Christmas Eve. I refused and was subsequently fired along with that young assistant. I had a good Christmas anyway!

Wed, 11/21/2012 - 14:49 | Link to Comment RopeADope
RopeADope's picture

We always made it a policy to do layoffs well after the holidays. Nothing worse to someone that telling them their income has stopped right after they spent their annual savings on worthless consumer junk. But then we also paid employees out of our own personal savings when times were rough if we knew orders would pick up shortly.

 

Makes you wonder where the U.S.A went and moved to...

 

 

Wed, 11/21/2012 - 15:13 | Link to Comment Trimmed Hedge
Trimmed Hedge's picture

Nothing wrong with November lay-offs

At least that way, the affected won't buy a ton of Christmas crap

 

Right before (Dec) or right after (Jan) is kinda douchey...

Wed, 11/21/2012 - 15:15 | Link to Comment Trimmed Hedge
Trimmed Hedge's picture

Jewish boss?

Wed, 11/21/2012 - 16:49 | Link to Comment gmrpeabody
gmrpeabody's picture

He was Greek, actually. He loved himself very much.

Wed, 11/21/2012 - 16:17 | Link to Comment ElvisDog
ElvisDog's picture

Hostess liquidation scorecard:

Winners: Hostess senior management, Union reps

Losers: Worker bees.

Wed, 11/21/2012 - 14:16 | Link to Comment Pants McPants
Pants McPants's picture

So...a parasite cannot live after the Host(ess) dies?

Wed, 11/21/2012 - 14:53 | Link to Comment FuzzyDunlop21
FuzzyDunlop21's picture

I like this

Wed, 11/21/2012 - 14:59 | Link to Comment Buzz Fuzzel
Buzz Fuzzel's picture

Except when the central planners execute a "managed bankruptcy" and attach the parasite to the tax payers.  In that case the parasite survives till the entire system colapses which is likely soon.

Wed, 11/21/2012 - 15:12 | Link to Comment WillyGroper
WillyGroper's picture

There's a shred of hope.

Wed, 11/21/2012 - 14:16 | Link to Comment blunderdog
blunderdog's picture

I realize those folks don't have jobs anymore, but isn't killing them going a bit far?

Wed, 11/21/2012 - 14:18 | Link to Comment Sofa King
Sofa King's picture

No Shit...but at least we can call Myanmar, Burma again.

 

Wed, 11/21/2012 - 14:33 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

 

 

"Burma!"

"Why'd you say 'Burma?'"

"I panicked."

 

http://www.youtube.com/watch?v=1k1ccguXiws

Wed, 11/21/2012 - 14:17 | Link to Comment papaswamp
papaswamp's picture

Recipes to be purchased by China....good bye jobs.

Wed, 11/21/2012 - 14:19 | Link to Comment I Am Not a Copp...
I Am Not a Copper Top's picture

Just when I thought I could get a job filling twinkies...

Wed, 11/21/2012 - 14:24 | Link to Comment akak
akak's picture

Too late --- Bawney Fwank and several thousand Catholic priests already claimed all available such positions years ago.

Wed, 11/21/2012 - 14:20 | Link to Comment yogibear
yogibear's picture

The union taught Hostess a lesson. To unlatch a union you go out of business.

Public workers are the last refuge for the radical unions.

Wed, 11/21/2012 - 14:22 | Link to Comment Zap Powerz
Zap Powerz's picture

I no longer believe anything the government tells me.

Wed, 11/21/2012 - 14:22 | Link to Comment monopoly
monopoly's picture

A truck driver making $125,000.00 delivering crap that kills. You are joking are you not?

Wed, 11/21/2012 - 15:15 | Link to Comment WillyGroper
WillyGroper's picture

I'll believe they made $125K when I read their contract book. Union wages are normally scaled to the cost of living in the geographic location. East & west cost make much more than the MW. There's no way in west hell that a local delivery person, teamsters or not, made that kind of money. 

Wed, 11/21/2012 - 14:24 | Link to Comment the not so migh...
the not so mighty maximiza's picture

Happy Holiday fuckers

 

Wed, 11/21/2012 - 14:25 | Link to Comment Seasmoke
Seasmoke's picture

That gives new meaning to Thanksgiving stuffing in your Twinkies

Wed, 11/21/2012 - 14:26 | Link to Comment Seasmoke
Seasmoke's picture

Cant ever think of a better day to fire union thugs than today !!!........EXCEPT YESTERDAY !!!!!!!!!!!!!

Wed, 11/21/2012 - 14:29 | Link to Comment Northeaster
Northeaster's picture

Citi just announced 31 branch closings. Unfortunately the TRILLIONS Citi got through the front and backdoor will never be recouped. However, much like status quo, they pay well for legal fraud and corruption:

http://www.opensecrets.org/orgs/summary.php?id=D000000071

Wed, 11/21/2012 - 14:30 | Link to Comment Debeachesand Je...
Debeachesand Jerseyshores's picture

Good bye Twinkies,Michelle will be so happy this Thanksgiving knowing that another unhealthy snack has bit the dust.

Mayor Bloomburg must be happy as shit too.

Wed, 11/21/2012 - 14:31 | Link to Comment resurger
resurger's picture

WHY DONT HE FIRE HIMSELF FIRST!

Cocksucker!

Sorry for caps, but this is Bullshit!

Wed, 11/21/2012 - 14:30 | Link to Comment FatFingered
FatFingered's picture

Op, Op, Op, Oppa Bammacare!

Wed, 11/21/2012 - 14:32 | Link to Comment Lost Wages
Lost Wages's picture

The only way this could be more painful is if Hostess made something in the shape of a turkey.

Wed, 11/21/2012 - 14:43 | Link to Comment HardlyZero
HardlyZero's picture

Or a delicious pie in the shape of Hurricane Sandy...call it the "Sandy" pie or cake.

Wed, 11/21/2012 - 14:40 | Link to Comment Buzz Fuzzel
Buzz Fuzzel's picture

Nothing to worry about.  The Dear Leader and his gang of central planners will step it to "save" these jobs by violating property law, securities law and the conscience of any fair minded judges who might be remaining in our bankruptcy court system.

Wed, 11/21/2012 - 14:43 | Link to Comment GOSPLAN HERO
GOSPLAN HERO's picture

Hostess will soon become the first USSA state owned bakery.

FORWARD, comrades!

Wed, 11/21/2012 - 14:49 | Link to Comment rogerthat
rogerthat's picture

Now that 5,000+ are out of a job from Frank Hurt's union, I wonder if he will be taking a pay cut anytime soon?

2011 PRESIDENT   $262,654.00

http://www.unionfacts.com/employee/Bakery%2C_Confectionary%2C_Tobacco_Wo...

Seems someone was a little paycheck envy......

Wed, 11/21/2012 - 14:51 | Link to Comment Buzz Fuzzel
Buzz Fuzzel's picture

Why are workers entitled to a job when the employer is not entitled to customers?  If the owner can change suppliers to his business process when somone offers him a better item at a better price why is he not allowed to change his workers?  Labor unions have long since outlived their productive usefulness.  They are now more destructive to their own employment prospects than the greediest of business owners.

Wed, 11/21/2012 - 15:00 | Link to Comment kralizec
kralizec's picture

Sandy is one angry bitch, must have been on Obama's payroll, all is going according to plan.

Wed, 11/21/2012 - 15:13 | Link to Comment Count de Money
Count de Money's picture

Apparently, Hostess was caught in the middle of an inter-union pissing contest. WSJ explains:

http://online.wsj.com/article/SB1000142412788732435200457813091215051261...

Money quote:

"As the bakers rightly saw it, they were being asked once more to prop up Teamster jobs that would likely guarantee that any Hostess resurrection would be short-lived."

Wed, 11/21/2012 - 16:31 | Link to Comment quasimodo
quasimodo's picture

As the "bakers" saw it.

LMAO right there. Bakers? Does me popping a hot pocket in the microwave make ME a baker? Pushing some fucking buttons after the nasty ass shit is ready for the oven on the automated line makes them bakers?

Good grief

 

Wed, 11/21/2012 - 15:07 | Link to Comment CoolBeans
CoolBeans's picture

TEAM TWINKIE!

I am very sorry that the worker-pawns and their families will have to start the Thanksgiving holiday sans jobs.  Unions...once served an honorable purpose...now, not so much.

 

Wed, 11/21/2012 - 15:09 | Link to Comment Irene
Irene's picture

So, where's Obama's famous Labor Relations Board when you need them, eh?

Wed, 11/21/2012 - 15:21 | Link to Comment earleflorida
earleflorida's picture

were sorry:

we're sorry we can't help you with a mortgage modification,

we're sorry we can't lower your utility bills,... electric, heating, water, and sewage,

we're sorry we can't lower your property taxes, state, and municipal,

we're sorry that our/your payroll taxes will be increasing... so think of the firing as a favor?,

we're sorry that your next employer will be unemployment or social security,

but, if you relocate south of the border, or even north... i'm sure there will be plenty of low rising dough to be made at half your extinct current wage benefit package!,

we're sorry

*[ insert other thought here,...     ]

the hostess management and mr. twinkie thankyou

sorry!? 

Wed, 11/21/2012 - 15:30 | Link to Comment jmcadg
jmcadg's picture

I actually gave MDB a greenie! Am I fuckin' insane???

Wed, 11/21/2012 - 15:34 | Link to Comment Schmuck Raker
Schmuck Raker's picture

There is nothing worse than a Sandy Twinkie.

 

Happy Turkey Day Y'all

Wed, 11/21/2012 - 15:41 | Link to Comment nodhannum
nodhannum's picture

Yes there is something worse...a sandy muff!

Wed, 11/21/2012 - 15:35 | Link to Comment Navymugsy
Navymugsy's picture

Your twinkie's stuffing isn't as strong after 40...

Wed, 11/21/2012 - 15:46 | Link to Comment akak
akak's picture

That's OK --- neither is the Ding-Dong.

Wed, 11/21/2012 - 15:46 | Link to Comment youngman
youngman's picture

One they had a declining market share....two their costs were going up....so to keep in business they had to make a choice....labor cost were to high....can´t cut the ingredients cost...can´t cut fixed costs...real estate...energy..taxes...labor had to move...they didn´t...they thought the new owners would take their contracts....NOT....so the equipment gets sold...and so does the real estate....probably to Bimbo and it gets moved to Mexico I bet....where it will be back in production in no time...see ya Unions...and no I do not shed a tear for stupid people...making a TWINKIE does not require a $100,000 year job.....now they know

Wed, 11/21/2012 - 17:01 | Link to Comment edifice
edifice's picture

And Bimbo will produce a better product, for 10% the cost.

Wed, 11/21/2012 - 16:11 | Link to Comment JSD
JSD's picture

Union Member:  We thank you for your membership and continued support throughout the negotiations. We realize that this will be a trying holiday season for you for you and your family.  Rest assured we will be thinking of you.  

 

Please make your donation payable to The Bakery, Confectionary, Tobacco Workers and Grain Millers International Union.  Thanks for your continued loyalty.

 

P.S.

You NEVER go FULL RETARD.

 

 

Wed, 11/21/2012 - 16:12 | Link to Comment edifice
edifice's picture

Memo
From: Hostess CEO
To: Ex-Hostess Employees

Suck it in and cope, buddy... Suck it in and cope...

Wed, 11/21/2012 - 16:28 | Link to Comment quasimodo
quasimodo's picture

Terminated JIT for Thanksgiving.

Gobble....Gobble

 

Wed, 11/21/2012 - 17:51 | Link to Comment Translator
Translator's picture

HOSTESS is Bush's fault, since it happened on Obama's watch............

Wed, 11/21/2012 - 21:01 | Link to Comment Never One Roach
Never One Roach's picture

Hostess is not GM.

Wed, 11/21/2012 - 22:36 | Link to Comment orangegeek
orangegeek's picture

Perhaps one of the most interesting words
in the English language today, is the word FUCK.

Out of all of the English words which begin with the letter F, FUCK is the only word referred to as the "F" word, it's the one magical word.
FUCK as most words in the english language, is derived from German, the word "fricken[?]", which means to strike.

In English, FUCK falls into many grammatical categories.

As a transitive verb, for instance.
John FUCK-ed Shirley.
As an intransitive verb, Shirley FUCKS.
It's meaning's not always sexual;
it can be used as an adjective, such as
John's doing all the FUCK-ing work.
As part of an adverb,
Shirley talks too FUCK-ing much.
As an adverb enhancing an adjective,
Shirley is FUCK-ing beautiful.
As a noun, I don't give a FUCK.
As part of a word abso-FUCKING-lutely,
or in-FUCKING-credible.
And, as almost every word in the sentence,
FUCK the FUCK-ing FUCK-ers.

As you must realize,
there aren't too many words
with the versatility of FUCK.
As in these examples describing situations
such as fraud,
I got FUCK-ed at the used car lot.
Dismay, Aw FUCK it.
Trouble, I guess I'm really FUCK-ed now.
Agression, Don't FUCK with me buddy.
Difficulty, I don't understand this FUCK-ing question.
Inquiry, Who the FUCK was that?
Dissatisfaction, I don't like what the FUCK is going on here.
Incompetence, He's a FUCK-off.
Dismissal, Why don't you go outside and play hide-and-go-FUCK yourself?

I'm sure you can think of many more examples.
With all these multi purpose applications,
how can anyone be offended when you use the word?
We say, use this unique, flexible word more often in your daily speech.
It will identify the quality of your character immediately.
Say it loudly, and proudly!
FUCK you!

Thu, 11/22/2012 - 07:09 | Link to Comment giggler123
giggler123's picture

It's because of a Twinkie, 35feet long, weighing approximately 600lbs.

 

www.youtube.com/watch?v=pzaQjS1JstY

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