| Economy Economy discussion forum. Discuss the politics and effects of the general economy and global economic collapse here. Please keep all politics out of the Finance and Investment subforum. |
 |
|
01-10-2012, 05:29 PM
|
#1
|
|
Senior Level 6
Join Date: Sep 2008
Posts: 7,743
Thanks: 123
Thanked 225 Times in 149 Posts
|
Potential National Tragedy Unfolding: Twinkies Maker Prepping For Bankruptcy
More than $860 million in debt, Hostess is preparing to file for Chapter 11 bankruptcy only two years after emerging from it once before.
If ever there was a company that should be bailed out... 
|
|
|
|
The Following User Says Thank You to leistb For This Useful Post:
|
|
|
01-10-2012, 07:04 PM
|
#2
|
|
Beach Fun
Join Date: Aug 2008
Location: SoCal
Posts: 6,396
Thanks: 204
Thanked 145 Times in 128 Posts
|
TTTF
Too Tasty To Fail
__________________
"The danger is not that a particular class is unfit to govern: every class is unfit to govern." Lord Acton
The only way to win is to not play...(like global thermal nuclear war).
|
|
|
|
|
The Following 2 Users Say Thank You to sandyd For This Useful Post:
|
|
|
01-10-2012, 07:10 PM
|
#3
|
|
Senior Level 6
Join Date: Sep 2008
Posts: 7,743
Thanks: 123
Thanked 225 Times in 149 Posts
|
Quote:
Originally Posted by sandyd
TTTF
Too Tasty To Fail
|
You should get that trademarked in a hurry.
|
|
|
|
|
01-10-2012, 07:23 PM
|
#4
|
|
SuperModerator
Join Date: Nov 2008
Location: In my gardens or online
Posts: 20,994
Thanks: 325
Thanked 1,097 Times in 772 Posts
|
Agreed on the trademark comment.
__________________
Shush - because the sofa bears don't know.
|
|
|
|
|
01-10-2012, 08:10 PM
|
#5
|
|
lurker level 3.14
Join Date: Sep 2008
Posts: 785
Thanks: 3
Thanked 10 Times in 8 Posts
|
NOOOOOOOOO!
Say it aint' so!
No more twinkies!
__________________
The best grape kool aid is made with hot tap water then cooled for an hour or more in the fridge. The sugar melts and mixes properly. Making kool aid with cold tap water is just barbaric.
|
|
|
|
|
01-10-2012, 10:11 PM
|
#6
|
|
Dismember
Join Date: Oct 2008
Posts: 35,164
Thanks: 171
Thanked 389 Times in 325 Posts
|
Hostess has some long-establish brands like Twinkies, HoHos, Snoballs and their cupcakes that are too valuable to just disappear. I would guess that somebody will buy them up. Maybe McKee Foods (Little Debbie)?
__________________
* I have the right to live, thus I have the right to defend my life from attackers who would take it from me.
* I have the right to my private property, thus I have the right to defend my property from thieves who would take it from me.
* I have the right to self-determination, thus I have the right to defend my liberty from tyrants who would take it from me.
* The only usable tools for these tasks are guns, and thus I have the right to shoot anyone who would take my guns from me.
|
|
|
|
|
01-10-2012, 10:30 PM
|
#7
|
|
Secretly laughing at the cat
Join Date: Nov 2008
Location: Iowa
Posts: 5,905
Thanks: 819
Thanked 208 Times in 161 Posts
|
Bimbo could buy them, they have a lot of simular products.
__________________
Live as if you were to die tomorrow. Learn as if you were to live forever. ~ Mahatma Gandhi
|
|
|
|
|
01-11-2012, 11:08 AM
|
#8
|
|
new age airy-fairy hippie
Join Date: Aug 2008
Location: North Central Washington State
Posts: 4,463
Thanks: 207
Thanked 256 Times in 185 Posts
|
Quote:
Originally Posted by Ought Six
Hostess has some long-establish brands like Twinkies, HoHos, Snoballs and their cupcakes that are too valuable to just disappear. I would guess that somebody will buy them up. Maybe McKee Foods (Little Debbie)?
|
That would be unfortunate. Little Debbie products are alright, but to my mind, Hostess products are much better.
I'd be afraid that another company would change the recipes and ingredients to be more like their own.
|
|
|
|
|
01-11-2012, 11:55 AM
|
#9
|
|
This runner/cyclist fueled by Irish Tea
Join Date: Aug 2008
Location: Thornton, Colorado, USA
Posts: 5,885
Thanks: 1,055
Thanked 32 Times in 28 Posts
|
I find this completely hilarious.
---------- Post added at 09:55 AM ---------- Previous post was at 09:54 AM ----------
Quote:
Originally Posted by Feather
Bimbo could buy them, they have a lot of simular products.
|
Dude. The first time I saw "Bimbo" on a sign down here, I totally about died laughing. BIMBO??? SERIOUSLY??? LOL
__________________
|
|
|
|
|
01-11-2012, 01:11 PM
|
#10
|
|
Quilting Moderator
Join Date: Aug 2008
Location: In front of the computer or the sewing machine.
Posts: 5,400
Thanks: 180
Thanked 288 Times in 175 Posts
|
__________________
~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~
LOVELIEST of trees, the cherry now / Is hung with bloom along the bough,
And stands about the woodland ride / Wearing white for Eastertide.
Now, of my threescore years and ten, / Twenty will not come again,
And take from seventy springs a score, / It only leaves me fifty more.
And since to look at things in bloom / Fifty springs are little room,
About the woodlands I will go / To see the cherry hung with snow.
~ A. E. Housman
~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~
|
|
|
|
|
01-11-2012, 01:16 PM
|
#11
|
|
Secretly laughing at the cat
Join Date: Nov 2008
Location: Iowa
Posts: 5,905
Thanks: 819
Thanked 208 Times in 161 Posts
|
Quote:
Originally Posted by Arianwen
I find this completely hilarious.
---------- Post added at 09:55 AM ---------- Previous post was at 09:54 AM ----------
Dude. The first time I saw "Bimbo" on a sign down here, I totally about died laughing. BIMBO??? SERIOUSLY??? LOL |
I did a double take first time I saw one of their trucks go by. We have a lot of tiendas here and some of the stores close to hispanic neighborhoods carry their products. I still crack up when I see the trucks.
__________________
Live as if you were to die tomorrow. Learn as if you were to live forever. ~ Mahatma Gandhi
|
|
|
|
|
The Following User Says Thank You to Feather For This Useful Post:
|
|
|
01-11-2012, 02:45 PM
|
#12
|
|
This runner/cyclist fueled by Irish Tea
Join Date: Aug 2008
Location: Thornton, Colorado, USA
Posts: 5,885
Thanks: 1,055
Thanked 32 Times in 28 Posts
|
Quote:
Originally Posted by Feather
I did a double take first time I saw one of their trucks go by. We have a lot of tiendas here and some of the stores close to hispanic neighborhoods carry their products. I still crack up when I see the trucks.
|
We should say things like "OMIGAWD LET'S LIKE OMIGAWD GO TO THE MALL!" etc when we see it - though that is more Valley Girl-esque. I guess I don't speak bimbo. 
__________________
|
|
|
|
|
01-11-2012, 03:00 PM
|
#13
|
|
Senior Level 6
Join Date: Sep 2008
Posts: 7,743
Thanks: 123
Thanked 225 Times in 149 Posts
|
Bimbo's parent company is based in Mexico. Travel down there and you'll see all sorts of team sponsored logos and the like on soccer jerseys and other memorabilia.
From the link regarding marketing in the US:
Quote:
|
It does not matter that the name in Spanish has no particular meaning and is simply, according to one explanation offered by the company, a feel-good word created out of whole cloth.
|
|
|
|
|
|
The Following User Says Thank You to leistb For This Useful Post:
|
|
|
01-11-2012, 03:58 PM
|
#14
|
|
Secretly laughing at the cat
Join Date: Nov 2008
Location: Iowa
Posts: 5,905
Thanks: 819
Thanked 208 Times in 161 Posts
|
Their little bear is so cute.
__________________
Live as if you were to die tomorrow. Learn as if you were to live forever. ~ Mahatma Gandhi
|
|
|
|
|
The Following User Says Thank You to Feather For This Useful Post:
|
|
|
01-11-2012, 08:00 PM
|
#15
|
|
Simplify, Do or Die
Join Date: Aug 2008
Location: Arkansas
Posts: 6,529
Thanks: 241
Thanked 463 Times in 329 Posts
|
I haven't eaten a Twinkie since I was a kid. For years they were the only "food" that I was allergic too. It was only after other foods entered the market that were as highly processed that I found more. For me, not eating Twinkies has simply been a fact of life. When they started mass producing things like donuts I felt a pang of loss...
__________________
Life is short. Break the rules. Forgive quickly.
Kiss slowly. Love truly. Laugh uncontrollably,
and never regret anything that made you smile.
Women are Angels and when someone breaks our wings we simply continue to fly...on a broomstick. We are flexible like that
|
|
|
|
|
01-11-2012, 10:24 PM
|
#16
|
|
Shufflin'
Join Date: Jul 2009
Location: Cackalacky
Posts: 380
Thanks: 7
Thanked 23 Times in 16 Posts
|
The problem for Hostess is that labor unions are killing their profitability. Bankruptcy provides an easy way to get out from under the thumb of the Teamsters and their ilk. You could think of this as similar to the recent American Airlines Chap 11.
http://online.wsj.com/article/SB1000...317896574.html
|
|
|
|
|
01-12-2012, 12:55 AM
|
#17
|
|
Omne ignotum pro magnifico
Join Date: Aug 2008
Posts: 20,787
Thanks: 45
Thanked 750 Times in 524 Posts
|
Quote:
Originally Posted by Arianwen
I find this completely hilarious.
---------- Post added at 09:55 AM ---------- Previous post was at 09:54 AM ----------
Dude. The first time I saw "Bimbo" on a sign down here, I totally about died laughing. BIMBO??? SERIOUSLY??? LOL |
Quote:
Originally Posted by Feather
I did a double take first time I saw one of their trucks go by. We have a lot of tiendas here and some of the stores close to hispanic neighborhoods carry their products. I still crack up when I see the trucks.
|
Pronounced "bEmbo"
Bimbo Bakeries US owns a lot of brands you already know. Entemann's, Boboli, Mrs Bairds, Oroweat, Thomas bagels, etc.
http://www.bimbobakeriesusa.com/abou...dia_center.php
__________________
Socialism is the philosophy of failure, the creed ignorance, and the gospel of envy; its inherent virtue is the equal sharing of misery.
Winston Churchill
|
|
|
|
|
11-16-2012, 11:20 AM
|
#18
|
|
Senior Level 6
Join Date: Sep 2008
Posts: 7,743
Thanks: 123
Thanked 225 Times in 149 Posts
|
Collective bargaining unions kill the Twinkie.
Instead of an 8% pay cut they chose the more prudent route and went with a 100% cut.
Quote:
Hostess, the makers of Twinkies, Ding Dongs and Wonder Bread, is going out of business after striking workers failed to heed a Thursday deadline to return to work, the company said.
“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” Hostess CEO Gregory F. Rayburn said in announcing that the firm had filed a motion with the U.S. Bankruptcy Court to shutter its business. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders.”
"Most employees who lose their jobs should be eligible for government-provided unemployment benefits," Hostess said.
|
|
|
|
|
|
11-16-2012, 11:36 AM
|
#19
|
|
berserkergang
Join Date: Aug 2008
Location: Carmel, IN
Posts: 3,933
Thanks: 1
Thanked 85 Times in 59 Posts
|
Hostess closes up. 18,500 jobs lost due to union intransigence
__________________
"There is another class of colored people who make a business of keeping the troubles, the wrongs, and the hardships of the Negro race before the public. Having learned that they are able to make a living out of their troubles, they have grown into the settled habit of advertising their wrongs — partly because they want sympathy and partly because it pays."
~ Booker T. Washington
Last edited by Lars; 11-16-2012 at 11:48 AM.
|
|
|
|
|
11-16-2012, 12:03 PM
|
#20
|
|
Not Indebted
Join Date: Aug 2008
Location: South of the South
Posts: 1,239
Thanks: 23
Thanked 28 Times in 17 Posts
|
not just an 8% pay cut, but also losing all their pensions (which is quite substantial). Hostess was already in Ch. 11, and was owned by a couple hedge funds who bought it out of bankruptcy in 2009, when the unions took a fairly large cut in pay and benefits then... basically, the management didn't have a good working model for the business, and was bleeding cash @ $2 mil per day, forcing their hand... I'm not sure who really is at fault here, but the only winners in this whole deal will be the creditors, who get all the assets (which are substantial) and whoever buys the brands for cheap (probably Bimbo, from Mexico).
Good article on ZeroHedge on this... http://www.zerohedge.com/news/2012-1...winkie-tumbles
Franc (penguinzee)
__________________
"Get Busy Living, or Get Busy Dying" Andy Defresne, The Shawshank Redemption
|
|
|
|
|
11-16-2012, 12:08 PM
|
#21
|
|
Senior Level 1
Join Date: Aug 2008
Posts: 1,713
Thanks: 28
Thanked 139 Times in 98 Posts
|
Instead of Ding Dongs being blown up by an evil Mitt-Romney style PE (Private Equity) firm, it was blown up by an evil democrat PE firm.....
Too bad we cannot do the same thing to government unions.
|
|
|
|
|
The Following User Says Thank You to Pablo Escobar For This Useful Post:
|
|
|
11-16-2012, 12:36 PM
|
#22
|
|
Senior Level 5
Join Date: Aug 2008
Location: Sammamish Plateau, WA
Posts: 5,442
Thanks: 31
Thanked 90 Times in 76 Posts
|
The wolves (poor management, PE firms, hedgies, creditors, intransigent unions) brought this one down a long time ago. For years, it has only been a question of who would get to loot the corpse. Sounds like the creditors and hedgies won. Durden has it as a microcosm of the U.S. as a whole. Sadly, he may have it right.
|
|
|
|
|
11-16-2012, 12:37 PM
|
#23
|
|
Senior Level 1
Join Date: Aug 2008
Posts: 1,713
Thanks: 28
Thanked 139 Times in 98 Posts
|
Seen today on a desk in my office!
|
|
|
|
|
The Following User Says Thank You to Pablo Escobar For This Useful Post:
|
|
|
11-16-2012, 02:20 PM
|
#24
|
|
Not Indebted
Join Date: Aug 2008
Location: South of the South
Posts: 1,239
Thanks: 23
Thanked 28 Times in 17 Posts
|
How much you wanna bet a bunch of other hedge funds are going to try the same thing-threaten the employees with deep cuts, or else close the company and sell off the assets?
This might be the tip of the iceberg...
Franc (penguinzee)
__________________
"Get Busy Living, or Get Busy Dying" Andy Defresne, The Shawshank Redemption
|
|
|
|
|
The Following User Says Thank You to penguinzee For This Useful Post:
|
|
|
11-16-2012, 05:49 PM
|
#25
|
|
Senior Level 6
Join Date: Sep 2008
Posts: 7,743
Thanks: 123
Thanked 225 Times in 149 Posts
|
There's a run on Twinkies, man! I had to go to two different grocery stores for different items and in both the Hostess shelves were empty. This was not on my prep list darn it!!!
|
|
|
|
|
|
|
Tags
|
500, bankruptcy, closes, due, hostess, intransigence, jobs, lost, maker, national, potential, prepping, tragedy, twinkies, unfolding, union  |
| Thread Tools |
Search this Thread |
|
|
|
| Display Modes |
 Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
All times are GMT -4. The time now is 08:25 AM.
|
