Twinkies (or Wonderbread) No More: Hostess to Close

[palbert]

Hostess, the maker of Twinkies and Wonder Bread, plans to go out of business, lay off its 18,500 workers and sell its snack cake and bread brands.

The Irving, Texas, company said a nationwide strike crippled its ability to make and deliver its products, which also include Ding Dongs, Ho Ho's and Home Pride bread.

http://finance.yahoo.com/news/hostess-close-cites-nationwide-worker-123953115.html

The end of an American icon -- at least the Twinkies you buy now will be good for years.

I never got into this kind of twinkie -- what about you?

 

[gsdx]

Tom Murphy is way behind the times. This news came out months and months ago. We had a lengthy discussion about it here.

 

[palbert]

Tom Murphy is way behind the times. This news came out months and months ago. We had a lengthy discussion about it here.

From the cited article:

The company 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. The privately held company filed for Chapter 11 protection in January, its second trip through bankruptcy court in less than a decade.

The new news is it's closing -- under Chapter 11 Bankruptcy you reorganize but stay in business.

 

[roadtripboy]

Not buying the excuse that blames it on the union. This company clearly had other major problems.

 

[Beachguyj]

The end of an American icon -- at least the Twinkies you buy now will be good for years.

That's a myth,

 

[umjreon88]

An example of what happens when employees are too selfish to even see that their employer is going out of business! Now they are out of jobs too! Oh well...

 

[roadtripboy]

declining sales are probably the root of it, but the Bakers' Union's refusal to renegotiate their contract in the face of changing economic conditions and the subsequent strike crippled their ability to even think about trying to recover.

even the Teamsters' Union had been criticizing the Baker's in this... flat/declining sales + increased wage/benefit costs is not sustainable, especially when the Union turns off the production lines so that the company's income drops to 0.

The reason I'm not buying the union blame thing is: They're owned by a hedge fund. To the hedge fund the brand names are worth more than the company. They will end up making a killing. The only people who will suffer are the employees.

 

[BFizzle]

One step closer to ending obesity.

 

[palbert]

That's a myth,

.... Twinkies do have an sell-by window, and it's only about 25 days. After about a month Twinkies start to get hard and brittle.

Steve Ettlinger, author of the book "Twinkie, Deconstructed," says Twinkies get hard, but that doesn't mean you can't eat them.

"I've got some that are 8 years old. They are hard but they are not spoiled," he said.

So Twinkies could last 30 years, but they just might not be that fun to eat. And one thing different about Twinkies is they don't rot.

http://www.scpr.org/programs/take-two/2012/11/16/29310/how-long-is-the-shelf-life-of-a-twinkie/

Seems both positions are possible.

 

[cgymike]

Where are the 18.5K employees going now besides Texas Unemployment Office?

 

[palbert]

Where are the 18.5K employees going now besides Texas Unemployment Office?

To unemployment offices in Wahington state, California, Illinois, and Indiana, to name just a few plant locations.

 

[rareboy]

This is what upsets me the most.

 

[jackoroe]

The labor unions refused to accept an 8% pay cut and now they've got themselves a 100% pay cut. Congratulations!

 

[cgymike]

Ding Dong the wicked Twinkie is dead!!!

 

[palbert]

For those facing withdrawal, a HOME MADE TWINKIE RECIPE is at:

http://www.nytimes.com/2012/03/07/dining/homemade-twinkies-recipe.html?ref=dining

 

[RaKroma]

The labor unions refused to accept an 8% pay cut and now they've got themselves a 100% pay cut. Congratulations!

Current labor unions are modeled after 19th/early 20th centuries. They need to be reorganized and heavy shake up could help too. I'll bet you the union heads will not be struggling with unemployment checks as they tend to sit on 6 figure salaries and other perks. The current union mantra is that every company and employer is greedy. They feed this to their union members and expect unrealistic demands. They thought some bread company was like Mitt Romney's Bain Capital and they lost. When a new company will buy twinkie out, they won't be hiring back all 18,000 people.

 

[secondmonkey]

Fucking unions....

 

[maxpowr9]

I remember before the mall was in built in Natick, it was a hostess factory. Now that space is occupied by "Needless Markup". Unions are only a part of the problem but between declining sales and a "bilge and purge" mantra, this was gonna end badly.

 

[PreTTy PeTe]

This is what upsets me the most.

not to worry dear boy. and I loveeeeeee Hickory Sticks too.

Snack giant Hostess shuttering US business, but Canada unaffected

 

[zoltanspawn]

I feel nostalgic about...shit?