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Hostess Brands Closing!
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Let's see how much that Union cares for its members now.
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I can see it now - speculators selling twinkies on eBay for $10 each!
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Looks like I nailed it! I guess pretty soon, Ho Hos will cost more than just hos! 
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Damn. No more Coffee Cakes. 
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there'll be snacks just not by hostess. there's was a huge debate at work going on over this. the fat kids getting chaptered out of the Army seemed really upset as well.
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I really hope someone either buys the brand or the recipes. No one makes those cream filled chocolate cupcakes like Hostess. No one!!
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Remember - Drake's was owned by Hostess too. So they're gone. And Wonder Bread in the US was produced by Hostess as well. So, that's gone. It's a lot bigger than just Twinkies. 
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lol.
This is NOT a story. Businesses close all the time. For myriad reasons.
Someone else will, of course, buy the recipes and sell them, probably even under the same name.
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Flagwaver wrote:Damn. No more Coffee Cakes. Oh man, I haven't had those in forever! I forgot how good they were.
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comicscastle wrote:Let's see how much that Union cares for its members now. More than Hostess did, obviously. Rather than give in to a pay raise or a concession or two to their lower middle class employees.....they shut the company down. then the execs. are going to sell the company name and the recipes and make a friggin' fortune! And, they are filing for bankruptcy on top of it....so they don't have to pay any debts. yeah, don't worry yourself over the board and the execs. they'll be fine. As usual, though, middle and lower class workers take another hit, while the rich get richer. It ain't the unions who are wrong here. And...that's my rant for the day.
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comicuniversity wrote:
More than Hostess did, obviously. Rather than give in to a pay raise or a concession or two to their lower middle class employees.....they shut the company down. then the execs. are going to sell the company name and the recipes and make a friggin' fortune! And, they are filing for bankruptcy on top of it....so they don't have to pay any debts.
yeah, don't worry yourself over the board and the execs. they'll be fine. As usual, though, middle and lower class workers take another hit, while the rich get richer.
It ain't the unions who are wrong here.
And...that's my rant for the day.
Yeah, I read somewhere how the executives at the company got raises in the months preceding the Chapter 11. Funny how that works.....
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comicuniversity wrote:comicscastle wrote:Let's see how much that Union cares for its members now. More than Hostess did, obviously. Rather than give in to a pay raise or a concession or two to their lower middle class employees.....they shut the company down. then the execs. are going to sell the company name and the recipes and make a friggin' fortune! And, they are filing for bankruptcy on top of it....so they don't have to pay any debts. yeah, don't worry yourself over the board and the execs. they'll be fine. As usual, though, middle and lower class workers take another hit, while the rich get richer. It ain't the unions who are wrong here. And...that's my rant for the day. But yet, the company has been bleeding money for years and only ONE of the unions involved refused to work with the company and re-negotiate. Am I saying that the executives were in the right? No. But to blame it ALL on them isn't right either. There's blame on both sides. I've been part of unions and generally, I dislike their practices. I'm sure the executives will have trouble finding jobs, just like the everyday workers. It's not like there are many executive job openings available either. They might have it easier in the short term, but I doubt it will be a cakewalk (heh, cakewalk) for them in the long run. 4saken1 wrote:
Yeah, I read somewhere how the executives at the company got raises in the months preceding the Chapter 11. Funny how that works.....
Probably because of contracts they have with the company - kind of like the ones the unions have with required pay increases. Could they have turned them down? Most likely. Did they? doubt it. Would you?
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Like nobody is going to buy that company. Americans are too fat anyway. Maybe this will help us thin down some.
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The_Ghost wrote:Like nobody is going to buy that company.
Americans are too fat anyway. Maybe this will help us thin down some. From what I understand, sales in general have been slumping for them due to competition but also from people choosing to eat healthier. The sad truth is, while we all love 'em, we ain't buying them so much anymore.
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scotteaves wrote:Probably because of contracts they have with the company - kind of like the ones the unions have with required pay increases. Could they have turned them down? Most likely. Did they? doubt it. Would you? As I understand it, executives' raises in the company were previously performance based, but were switched to guaranteed salary in order to get around Chapter 11 regulations. The CEO's salary went from $750,000 to $2.55 million as a result. Other executives' pay went up an average of over 50%. FWIW, as I understand it, the Hostess' insolvency was so bad due to decrease in demand that even if workers had conceded pay cuts and exorbinant bunuses weren't given to top earners, the company still wouldn't have been salvageable. But hey, at least the fat cats made it out OK!
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4saken1 wrote:scotteaves wrote:Probably because of contracts they have with the company - kind of like the ones the unions have with required pay increases. Could they have turned them down? Most likely. Did they? doubt it. Would you? As I understand it, executives' raises in the company were previously performance based, but were switched to guaranteed salary in order to get around Chapter 11 regulations. The CEO's salary went from $750,000 to $2.55 million as a result. Other executives' pay went up an average of over 50%. FWIW, as I understand it, the Hostess' insolvency was so bad due to decrease in demand that even if workers had conceded pay cuts and exorbinant bunuses weren't given to top earners, the company still wouldn't have been salvageable. But hey, at least the fat cats made it out OK! They ALWAYS do....and the rank and file employees ALWAYS get screwed. It's why I just can't believe it....I just don't understand how people side with execs. over unions when it comes to big corporations. The execs are always making enormous scads of money and the rank and file are always making less than the rate of inflation. Unions are just trying to redress some of that. And...before the tired comment "if you don't like it, go work soemwhere else" gets trotted out again.....you realize that if workers somewhere don't make stands, we will all be the victims. We will maek less and elss and less as prices rise and rise and rise.
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comicuniversity wrote:4saken1 wrote:scotteaves wrote:Probably because of contracts they have with the company - kind of like the ones the unions have with required pay increases. Could they have turned them down? Most likely. Did they? doubt it. Would you? As I understand it, executives' raises in the company were previously performance based, but were switched to guaranteed salary in order to get around Chapter 11 regulations. The CEO's salary went from $750,000 to $2.55 million as a result. Other executives' pay went up an average of over 50%. FWIW, as I understand it, the Hostess' insolvency was so bad due to decrease in demand that even if workers had conceded pay cuts and exorbinant bunuses weren't given to top earners, the company still wouldn't have been salvageable. But hey, at least the fat cats made it out OK! They ALWAYS do....and the rank and file employees ALWAYS get screwed. It's why I just can't believe it.... I just don't understand how people side with execs. over unions when it comes to big corporations. The execs are always making enormous scads of money and the rank and file are always making less than the rate of inflation. Unions are just trying to redress some of that. And...before the tired comment "if you don't like it, go work soemwhere else" gets trotted out again.....you realize that if workers somewhere don't make stands, we will all be the victims. We will maek less and elss and less as prices rise and rise and rise. Because it seems like half the time the unions are just as corrupt or incompetent as management. Trust me, I've worked with unions. They take a lot in dues and most times do very little. In regards to Hostess, there were two unions representing the workers. The teamsters and the baker's union. The teamsters union voted to approve the new contract. The baker's union did not and the teamsters blame both management and the baker's union for the closing.
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KingZombie wrote:comicuniversity wrote:4saken1 wrote:scotteaves wrote:Probably because of contracts they have with the company - kind of like the ones the unions have with required pay increases. Could they have turned them down? Most likely. Did they? doubt it. Would you? As I understand it, executives' raises in the company were previously performance based, but were switched to guaranteed salary in order to get around Chapter 11 regulations. The CEO's salary went from $750,000 to $2.55 million as a result. Other executives' pay went up an average of over 50%. FWIW, as I understand it, the Hostess' insolvency was so bad due to decrease in demand that even if workers had conceded pay cuts and exorbinant bunuses weren't given to top earners, the company still wouldn't have been salvageable. But hey, at least the fat cats made it out OK! They ALWAYS do....and the rank and file employees ALWAYS get screwed. It's why I just can't believe it.... I just don't understand how people side with execs. over unions when it comes to big corporations. The execs are always making enormous scads of money and the rank and file are always making less than the rate of inflation. Unions are just trying to redress some of that. And...before the tired comment "if you don't like it, go work soemwhere else" gets trotted out again.....you realize that if workers somewhere don't make stands, we will all be the victims. We will maek less and elss and less as prices rise and rise and rise. Because it seems like half the time the unions are just as corrupt or incompetent as management. Trust me, I've worked with unions. They take a lot in dues and most times do very little. In regards to Hostess, there were two unions representing the workers. The teamsters and the baker's union. The teamsters union voted to approve the new contract. The baker's union did not and the teamsters blame both management and the baker's union for the closing. LOL. Agreed! Unions have execs too. I guess what I meant was a little more nuanced. The union heads themselves are, sometimes, just as greedy as the corporate boards. However, the corporate boards represent their own money. The unions at least represent the money of ALL the workers.
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