Hostess Bakery going under!

[twobit]

ALARM!

They have been hiding it from us by keeping us worried about all-out war in Israel, firearms bans, tax hikes....... but now the tragic news...and IT'S NOT BUSH'S FAULT!

http://finance.yahoo.com/news/hostes...210000309.html

Hostess Bakeries is on the verge of closing forever! No more Twinkies! The hording has begun! With a shelf life of 48 years, the last Twinkie may disappear from earth within some of our lifetimes.

[bamajoey]

If they close down I hate it for the company and stock holders. I don't feel sorry for the ones on strike. The main stream media will blame the Hostess co because they didn't give more perks. Unions suck.

[cheesewiz]

9mm check, 12 Ga check , 22 check , twinkee's check, Ho Hos check , it's all part of prepping besides twinkee's have a huge shelf life

[flyingtiger85]

They said they would close if they went on strike!Dahhh!!!!!Striking in a bad economy isn't to smart.They should be happy they had a job.Ask for better deals when we recover from this.But that doesn't look very good now!

[1 Eyed Jack]

Originally Posted by flyingtiger85

They said they would close if they went on strike!Dahhh!!!!!Striking in a bad economy isn't to smart.They should be happy they had a job.Ask for better deals when we recover from this.But that doesn't look very good now!

Yea that, I would be, I was laid off from my last job after having it for just over 3 years, it was a tough job, I worked many nights, weekends etc. without pay(salary job), when it got to be too much all I had to do was think about what it was like to be unemployed and looking for work, that would instantly cure any thoughts of quitting, I was an operations manager managing a team that performed maintenance/upkeep/upgrades on PBX's(inhouse telecom equipment), about 225 sites in all spread out from the Mexican border to WA state and Colorado to the west coast, plus Hawaii, customers were mostly hotel's, hospitals, state/govt agencies etc.,

My wife says 3 years at that job aged me at least 10 years, I think she is right, it ran me into the ground on a regular basis, mentally and physically, but would I still be glad to have it? of course, I have no sympathy for anyone that has a job but refuses to do it unless their demands are met, they must have never been unemployed in the last 10 years, if that's the case, a very rude awakening is in store,

That's when the 20/20 hindsight will kick in, which is always too late,

[Marlin T]

Fricken unions always wanting more even when things are bad.

[dad2thebone]

the twinkiee rumor has been floating around forever. when i see it i'll believe it lol

[Marlin T]

From the hostess website;

Hostess to Liquidate if Strikes Impede Normal Operations Past 5 Thursday

Wednesday, November 14, 2012 at 4:00PM
Hostess Brands Inc. announced today that it will file a motion with the U.S. Bankruptcy Court on Friday to liquidate the entire Company if enough striking employees do not return to work by 5 p.m., EST, Thursday to enable the Company to resume normal operations. The strikes were called on November 9 by the Bakery, Confectionery, Tobacco Workers and Grain Millers Union (BCTGM).
“We simply do not have the financial resources to survive an ongoing national strike,” said Gregory F. Rayburn, the Company’s Chairman and CEO. “Therefore, if sufficient employees do not return to work by 5 p.m., EST, on Thursday to restore normal operations, we will be forced to immediately move to liquidate the entire Company, which will result in the loss of nearly 18,000 jobs. It is now up to Hostess’ BCTGM represented employees and Frank Hurt, their international president, to decide if they want to call off the strike and save this Company, or cause massive financial harm to thousands of employees and their families.”
Hostess has done everything in its power to pursue a reorganization of its business as a going concern, including spending the better part of 18 months negotiating with its key constituents to obtain a consensual agreement. As previously disclosed, the Company has obtained the support of its largest union, the International Brotherhood of Teamsters, and its lenders. With the support of the BCTGM, Hostess believes it would successfully reorganize.
If sufficient employees do not return to work by the deadline to restore normal operations, the liquidation process will unfold as follows:

• Hostess will file a motion with the U.S. Bankruptcy Court on Friday, November 16, 2012 requesting to wind-down the Company and sell all of its assets;
• Hostess has requested a hearing on the motion for Monday, November 19, 2012;
• If the motion is granted at this hearing, Hostess Brands will begin to close all of its operations as early as Tuesday, November 20, 2012. The closures will include the termination of all employees except small, temporary crews to clean, secure and prepare facilities and other assets for sale.

[25yretcoastie]

The unions are in business for them self's not the employees. Change the union leadership and problems go away.

The twinkiee's will last longer than the wrapers time to stock up

[al45lc]

The shelf life of an unrefrigerated twinkie is 25 days. It doesn't have diary in it, but it is made with eggs, so like all baked products with eggs, it's shelf life is severly limited.
Sorry to break the bubble.

[jlloyd73]

did they go back to work?

[jbmid1]

Bankruptcy won't necessarily mean the end of Hostess. They'll get bought out and restarted with new management and employees.

[Marlin T]

Originally Posted by jlloyd73

did they go back to work?

No they did not.

[stumpjumper]

what I thought astonishing is that the union financial gurus said after looking at the books that the company was being honest about going under. and yet the union, or should i say union bosses would rather have 18k of their peons lose their jobs . funny how they're bitchin about having to pay into their retirement accounts. how you gonna do that with umemployment? oh well, they'll all get alibaba phones

[wv hillbilly]

November 16, 2012 (WLS) -- Hostess Brands announced Friday that it is winding down operations and has filed a motion with the U.S. Bankruptcy Court seeking permission to close its business and sell its assets, including its iconic brands and facilities.



Bakery operations have been suspended at all plants. Delivery of products will continue and Hostess Brands retail stores will remain open for several days in order to sell already-baked products.

[carver]

Hostess Brands says it is going out of business, closing plants that make Twinkies and Wonder Bread and it will lay off all of its 18,500 workers.

The Irving, Texas company says a nationwide worker strike crippled its ability to make and deliver its products at several locations.

Hostess had warned employees that it would file a motion in U.S. Bankruptcy Court to unwind its business and sell assets if plant operations didn't return to normal levels by Thursday evening.
http://www.actionnewsjax.com/content...F306vzNtg.cspx

[ka64]

I guess this is the meaning of Moving FORWARD..........NOT!!!!!!!!

[hstout1143]

Prayers going out to families that are facing a tough economy that will only get tougher in the coming months.

[Caneman]

the hostess twinkie will live on... hostess will just license the "twinkie" name and recipe to any number of eager and greedy suitors who will be more than happy to bake and distribute twinkies... the real loser here is the unions, they are slowly killing off the goose that laid the golden egg...

[Carne Frio]

I think your right Caneman. We will still have our twinkies,
but they will be produced by non-union workers, who will
be happy to have a job. Have you tried a deep-fried twinkie ?
http://www.friedtwinkies.com/recipe.html

[nynomad]

Maybe they were too quick to shut down... Colorado just passed a law to legalize pot - that should save the twinkie business!

[Dog Soldier]

This food line is being attacked by the Government Food Nazis. The Left Wing Labor Unions are attacking. The stock holders of Hostess are getting out before they lose everything.
Some bakery will pick up the lines of Hostess and Dolly Madison. The Hostess plants and labor will not be used however. All of the American Bakers many nonunion have extra production space and people during this poor econmy.

[Nighthawk]

[rimmer1]

I just got my 4 boxes of cupcakes, and 2 cherry pies.
These should help me wean myself off of these products.
They just wouldn't taste right made in China.

[MSGT-R]

Originally Posted by nynomad

Maybe they were too quick to shut down... Colorado just passed a law to legalize pot - that should save the twinkie business!

That's just funny!

Unfortunately, the Hostess bakery in Denver will be shutting down too.