Twinkie maker Hostess files for bankruptcy
- Thread starter Straight Shooter
- Start date
Will E Worm
Conspiracy...
They did this in 2004. They should be fine.
I hope they come back stronger and bring back some old favorites.
(ChocoBliss, Chocodiles, and Pudding Pie)
I hope they come back stronger and bring back some old favorites.
(ChocoBliss, Chocodiles, and Pudding Pie)
I work for Hostess Brands and you can still get those items most places. The company was purchased out of bankruptcy by Ripplewood Investments. Before emerging from bankruptcy the employees accepted a rather lopsided salary and benefits reduction. The sales department, Teamsters employees, agreed to pay 20% of their healthcare costs and also around a $600 a month cut in monthly salary. Where as Bakery and Confectioners Union employees took a $10 a week paycut. This new contract was agreed to in 2010 and was to expire in 2014. As soon as this was agreed to the sitting CEO stepped down having triped a clause in his contract that payed him a several million dollar bonus for 'improving the profitability of the company.' Ripplewood stepped in put a new CEO into place and we as a company moved out of bankruptcy to much chest pounding and fanfare. Six months later the company announces that the contract that was just agreed to is 'unfair to the company and we as employees must allow them to cancel our agreement and agree to accept even deeper cuts and proceeded to stop honoring heath and welfare/pension agreements right there and then. The Unions that represent the employees immediately sat down to try to put together some kind of settlement and were told that none of the just signed contracts would be honored and if litigation was filed they would immediately file bankruptcy. It is a common belief at Hostess Brands that this is an attempt to get a Bankruptcy Judge to allow them to void their present agreements and sell the best parts of the company to a second party thus making Ripplewood and huge profit on the resale. This company did nearly 3 billion dollars in sales last year it is my belief that this was the investment companies strategy all along to try and shed the union contracts thus freeing them up to sell with no outside parties being involved. America at its finest. There is no way these products are going anywhere they sell way too much product for that to happen I should know been selling this stuff for 16 years. Just make a buck and fuck you very much economics as usual in the good ol USA.
Hondarobot
Banned
Heh. . .
Homer: Gee, Mr. Burns, you're the richest guy I know; way richer than Lenny.
Mr. Burns: Yes, but I'd trade it all for a little more.
Homer: Gee, Mr. Burns, you're the richest guy I know; way richer than Lenny.
Mr. Burns: Yes, but I'd trade it all for a little more.
squallumz
knows petras secret: she farted.
i can beat you there. about 15 years for me.
no reverence
Hondarobot
Banned
You are less interesting than Jim Carrey in "The Cable Guy", you're just weird.
Ace Bandage
The one and only.
Hondarobot
Banned
Nope, but I imagine he's now bashing his head against a wall screaming "I'm not Jim Carrey!"
I honestly don't know who he is, but he follows me around on internet forums.
I honestly don't know who he is, but he follows me around on internet forums.
Supafly
Retired Mod
My view on this:
If you have a company in the food industry, and you are either unable or unwilling to change with the times and the markets, you are prone to go. It's just bad you are taking down a lot of workers and therefor, families with you.
I'm not saying you need to stop producing all those junky 'Twinkies', 'Ho-Ho's' etc... they can stay as a niche product.
But healthy and wholesome snacks have long been growing in demand. Roll with it.
If you have a company in the food industry, and you are either unable or unwilling to change with the times and the markets, you are prone to go. It's just bad you are taking down a lot of workers and therefor, families with you.
I'm not saying you need to stop producing all those junky 'Twinkies', 'Ho-Ho's' etc... they can stay as a niche product.
But healthy and wholesome snacks have long been growing in demand. Roll with it.
Whatever ass hat
Good thing Twinkies last forever!
I was never a Twikie fan, but the fruit pies, loved them.
