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No more Twinkies - Hostess finally went under...

Rod

Rod

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Staff member
Joined
Jan 4, 2001
Messages
10,541
What a shame... Unions sure know how to keep people employed :rolleyes: .
 
It's not the union. This might be verging on political commentary, and I certainly don't want to break the rules of proper decorum, but Hostess got sunk by Bain style vulture capitalism---unions made all KINDS of drastic concessions in Hostess' FIRST bankruptcy, and the equity firms that had taken it over responded by giving the CEO a 300% salary increase and doubling the salaries of another 9 top execs . . . while they were in their SECOND bankruptcy.

There's a lot of noise and propaganda in the media these days that wants to blame unions for shit, but when you really look, it's not usually the unions at fault---it's somebody wanting to stripmine more dollars out of an enterprise than are actually in there. In 'Goodfellas' it was called a bustout . . . on Wall Street it's called "good business."

We want a future for our kids, we need to think about what built the present for US. It surely wasn't corporate executives with our best interests at heart. Power concedes nothing without a demand.

~Boar
 
Not A Nice Person said:
It's not the union. This might be verging on political commentary, and I certainly don't want to break the rules of proper decorum, but Hostess got sunk by Bain style vulture capitalism---unions made all KINDS of drastic concessions in Hostess' FIRST bankruptcy, and the equity firms that had taken it over responded by giving the CEO a 300% salary increase and doubling the salaries of another 9 top execs . . . while they were in their SECOND bankruptcy.

There's a lot of noise and propaganda in the media these days that wants to blame unions for shit, but when you really look, it's not usually the unions at fault---it's somebody wanting to stripmine more dollars out of an enterprise than are actually in there. In 'Goodfellas' it was called a bustout . . . on Wall Street it's called "good business."

We want a future for our kids, we need to think about what built the present for US. It surely wasn't corporate executives with our best interests at heart. Power concedes nothing without a demand.

~Boar
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+1, I could not have said it better.
 
I well refrain from commenting on the false statements above out of respect for the no politics rule.
 
Sorry guys, didn't mean to create a political discussion. I'll reserve further comment on my opinion of unions, which were formed based upon facts and personal experiences.
 
Not a political link, just an econ lesson on how Leveraged Buyout (LBO) firms actually work, for those interested:

http://www.youtube.com/watch?v=mfIEQryzvJ8
 
Backslide said:
I well refrain from commenting on the false statements above out of respect for the no politics rule.
Click to expand...

These are all facts on the ground. You can look them up for yourself. Out of respect for the rules, I will refrain from commenting further.

~Boar
 
drunkfish3 said:
NASTY said:
Right on, Boar!


badwhale said:
Twinkies suck anyway. Who cares?
Click to expand...

And you sir, you just need to get banned for that comment :sign:
Click to expand...


How about the 18,500 people now out of a job? My dad being one of them.
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X2 as it’s my father as well. It sucks that so many people lose their jobs when a year ago when they filed
bankruptcy the executive team got a 80% pay increase while they were in
bankruptcy. The whole situation just sucks.
 
No Political comment.

Aren't twinkies two polymers away from being plastic bags? Healthy American food!

You see some of the pictures of the people buying the store out of 'em- do they really need another! We are sunk, get me to Costa Rica!
 
Many companies are in the works to buy the brands/recipies, they will resurface in a matter of time. I stand nor for the unions, nor the executives, but with a little research it is clear to see why a company such as this could not survive. To find blame,well, just look at who walked away from this with financial stability and who didn't.
 
Personally I like Hoho's better....black cylinders with a white creamy filling? What's not to like?
























(that's what she said)
 
Looks like the Union is going to give in and the brand will survive. Guess it is business as usual.
 
So . . . here's a "New Coke Gambit" conspiracy theory: Hostess, faced with massive debt from being taken over by vulture capitalists, and from cashing out with huge salary increases for the CEO and VP, decides to drum up a little extra cash . . .

. . . by floating rumors that their plants are all closing, prompting a massive run on Twinkies, Ding Dongs, and Swiss Rolls from all the early stage Type 2 diabetes candidates out there. Also, stoners. :whistling:

Quick infusion of cash, good quarterly report, and then they go back to the mediation table like they knew they'd have to all along.

Just saying. ;)

~Boar
 
We make our own Twinkies; they taste better and aren't chemistry experiments.

Hostess will be liquidated. Companies don't last forever...
 
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