R.I.P. Ding Dong, Twinkie, Sno Ball, etc.

[Wasillaguy]

Hostess bites the dust.
18,500 union members out of work.

http://www.hostessbrands.com/Closing.aspx

[d-ray657]

Once again, incompetent management costs workers jobs.

Regards,

D-Ray

[Wasillaguy]

Originally Posted by d-ray657

Once again, incompetent management costs workers jobs.

Regards,

D-Ray

Maybe it was Michelle's healthy eating campaign.

[bhunter]

Originally Posted by Wasillaguy

Maybe it was Michelle's healthy eating campaign.

That was my initial thought. Maybe Grupo Bimbo will buy them up since they seem to own quite a number of brands. Those folks shrunk my Entenmann's chocolate covered donuts I've been purchasing for 30 years. Between the shrink ray and Michelle, I'm going to need to order wholesale quantities.

[icenine]

Are they really going under? Or will they outsource production? Hard to fathom no more Hostess twinkies....has there been a big decrease in sales? Has stock fallen? I can tell you the trademark is not going anywhere.

[noonereal]

Originally Posted by icenine

Are they really going under? Or will they outsource production? Hard to fathom no more Hostess twinkies....has there been a big decrease in sales? Has stock fallen? I can tell you the trademark is not going anywhere.

They will sell off the brands and teh stockholders will be fine. It is only the workers that are screwed.

[icenine]

Originally Posted by noonereal

They will sell off the brands and teh stockholders will be fine. It is only the workers that are screwed.

I hope Little Debbie is safe.....


I heard overheard some Marines today saying "Obama" and "18,500" earlier today at work....I did not get the rest of it but once I read this post I knew what they were talking about. I imagine they are blaming Obama for this....please...

Yeah the workers will be screwed and the trademark will go to a Chinese cupcake factory...soon the twinkie boxes will say made in china....

[merrylander]

Originally Posted by icenine

I hope Little Debbie is safe.....


I heard overheard some Marines today saying "Obama" and "18,500" earlier today at work....I did not get the rest of it but once I read this post I knew what they were talking about. I imagine they are blaming Obama for this....please...

Yeah the workers will be screwed and the trademark will go to a Chinese cupcake factory...soon the twinkie boxes will say made in china....

Meanwhile the Pension Benefit Guarantee Agency is going bankrupt as all these corporations are allowed by crooked judges to duck their responsibilities.

[ebacon]

Originally Posted by noonereal

They will sell off the brands and teh stockholders will be fine. It is only the workers that are screwed.

Bankruptcy law defines the priority order that people get paid. Stockholders are at the bottom of the list. From memory the order goes something like this.

1) Lawyers
2) Lenders after bankruptcy filing and taxes
3) Unsecured creditors and employees
4) Shareholders

Secured creditors get whatever asset(s) was pledged as security.

In most cases there is not enough money to pay everyone. Unsecured creditors usually get pennies on the dollar and shareholders get diddly squat.

[finnbow]

Everybody remembers that stuff fondly, but nobody eats it anymore. If anyone here has any interest in what comprises modern processed food, there's a book that analyzes all the ingredients of a Twinkie. It's actually a very interesting read.