Bad Movie Logo
"A website to the detriment of good film"
Custom Search
HOMEB-MOVIE REVIEWSREADER REVIEWSFORUMINTERVIEWSUPDATESABOUT
Welcome, Guest. Please login or register.
Did you miss your activation email?
March 19, 2024, 06:31:01 AM
712927 Posts in 53040 Topics by 7722 Members
Latest Member: GenevaBarr
Badmovies.org Forum  |  Other Topics  |  Off Topic Discussion  |  Hostess goes Bankrupt!!!!! « previous next »
Pages: [1] 2 3 ... 5
Author Topic: Hostess goes Bankrupt!!!!!  (Read 22162 times)
El Misfit
[Insert witty here]
B-Movie Kraken
*****

Karma: 1103
Posts: 12884


Hi there!


« on: November 16, 2012, 09:52:57 PM »

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

Hostess suspended bakery operations at all its factories and said its stores will remain open for several days to sell already-baked products.

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.

"Many people have worked incredibly long and hard to keep this from happening, but now Hostess Brands has no other alternative than to begin the process of winding down and preparing for the sale of our iconic brands," CEO Gregory F. Rayburn said in a letter to employees posted on the company website.

He added that all employees will eventually lose their jobs, "some sooner than others."

"Unfortunately, because we are in bankruptcy, there are severe limits on the assistance the (company) can offer you at this time," Rayburn wrote.

Thousands of members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union went on strike last week after rejecting in September a contract offer that cut wages and benefits. Hostess said Friday the company is unprofitable "under its current cost structure, much of which is determined by union wages and pension costs."

A union representative did not immediately return a call from The Associated Press seeking comment on the company's announcement.

Hostess has said that production at about a dozen of the company's 33 plants has been seriously affected by the strike. Three plants were closed earlier this week.

Hostess had already reached a contract agreement with its largest union, the International Brotherhood of Teamsters.

The company, founded in 1930, was fighting battles beyond labor costs. Competition is increasing in the snack space and Americans are increasingly conscious about healthy eating. Hostess also makes Dolly Madison, Drake's and Nature's Pride snacks.



Logged

yeah no.
indianasmith
Archeologist, Theologian, Elder Scrolls Addict, and a
B-Movie Kraken
*****

Karma: 2590
Posts: 15177


A good bad movie is like popcorn for the soul!


« Reply #1 on: November 16, 2012, 10:09:00 PM »

Union Greed sinks another company.  Welcome to Obama's America.
Logged

"I shall smite you in the nostrils with a rod of iron, and wax your spleen with Efferdent!!"
Ed, Ego and Superego
Frightening Fanatic of Horrible Cinema
****

Karma: 300
Posts: 3016



« Reply #2 on: November 16, 2012, 10:46:09 PM »

Really Indy,  You have my utmost respect most of the time but this blame Obama thing is getting old. 
I'm sorry your guy lost, I'm sorry you don't like who won.  But the UN tanks will not roll nor will we be calling each other Comrade next week.

But you are a historian, a very smart man,  and a teacher, how much power does President REALLY have?
Nixon, Reagan, Bush II, and even Clinton swung more weight and did more substantive changes than Obama has so far and with far less opposition, and how much did the country REALLY change?  Did we go down the toilet THEN? Why would we do so suddenly now?

The system is set up to keep the Dictators out, and frankly a Republican house, and a right leaning supreme court have and will keep things going centered for another four years and Hey Presto we get another shot at another president.  Maybe then the republicans will not put up a clueless semi-Aristocrat and will get it back, maybe not.   

Before liberalism gets bandied about, I was huge McCain supporter in 2000 and had he gotten the nomination we'd be a better country now.  But I won't support the party of the tea party conspiracy theorists, or ultra rich plutocrats, or some of the racists I'm seeing.  I believe in a balanced budget, strong military, and capital punishment.  I also believe in taking care of people so they can contribute to society. I DON'T Believe in entitlement, corporate personhood, lobbyist rule, or multigenerational welfare.

Anyway I still consider you a friend and will seek your wisdom any time, but on this we gotta disagree. 

Just to get back on topic, I bet the Hostess thing is MORE a lousy corn harvest, high transportation costs, and the bottom dropping out of the semi-synthetic snack market. 

Sorry to rant, hope we can be cool. 
-Ed


Logged

Quantum materiae materietur marmota monax si marmota monax materiam possit materiari?

Si Hoc Legere Scis Nimium Eruditionis Habes
indianasmith
Archeologist, Theologian, Elder Scrolls Addict, and a
B-Movie Kraken
*****

Karma: 2590
Posts: 15177


A good bad movie is like popcorn for the soul!


« Reply #3 on: November 16, 2012, 10:56:14 PM »

Of course we are.  I'm not saying that Obama is directly responsible for Hostess going down, but I do believe that this uber-Union-friendly administration has created a climate where Unions are going to demand more and more, and many companies on the brink will find it cheaper to go bankrupt than to cave in to people whose default setting is always to demand more, no matter whether the company is Union friendly or not.

But think about this . . . the country is legalizing pot, and TWINKIES are out of business?  There is a conspiracy afoot!!!!
Logged

"I shall smite you in the nostrils with a rod of iron, and wax your spleen with Efferdent!!"
lester1/2jr
B-Movie Kraken
*****

Karma: 1109
Posts: 12256



WWW
« Reply #4 on: November 16, 2012, 11:02:49 PM »

Small | Large


The Unions deserve much of the blame but the products weren't as popular as they once were.
Logged
LilCerberus
A Very Bad Person, overweight bald guy with a missing tooth, and
Frightening Fanatic of Horrible Cinema
****

Karma: 702
Posts: 9058


Quis custodiet ipsos custodes?


« Reply #5 on: November 16, 2012, 11:10:29 PM »

I heard this afternoon that The Teamsters backed down, but the Bakers union wouldn't.

I heard a rumor that it was actually the Wonder Bread branch that was losing money.

I've also heard speculation that this strike stemmed from a previous compromise in 2006...... Meaning, they already are/ still are blaming Dubya, thus lending some credence to Indy's Bamster comment. TongueOut
Logged

"Science Fiction & Nostalgia have become the same thing!" - T Bone Burnett
The world runs off money, even for those with a warped sense of what the world is.
Ed, Ego and Superego
Frightening Fanatic of Horrible Cinema
****

Karma: 300
Posts: 3016



« Reply #6 on: November 16, 2012, 11:14:10 PM »

Of course we are...

But think about this . . . the country is legalizing pot, and TWINKIES are out of business?  There is a conspiracy afoot!!!!

I'm glad to hear that. I respect the heck out of you.

On that same note... I don't know why the head of Papa John's is so anti legal pot.  In the old days I knew guys who could clear 3 pizzas a Friday night.
-Ed
Logged

Quantum materiae materietur marmota monax si marmota monax materiam possit materiari?

Si Hoc Legere Scis Nimium Eruditionis Habes
AndyC
Global Moderator
B-Movie Kraken
****

Karma: 1402
Posts: 11156



« Reply #7 on: November 16, 2012, 11:54:09 PM »

Surely someone will continue to manufacture the snack cakes and fruit pies. Otherwise, how on earth are superheroes going to stop all the third-rate villains with their plans to slightly inconvenience the public?
Logged

---------------------
"Join me in the abyss of savings."
LilCerberus
A Very Bad Person, overweight bald guy with a missing tooth, and
Frightening Fanatic of Horrible Cinema
****

Karma: 702
Posts: 9058


Quis custodiet ipsos custodes?


« Reply #8 on: November 17, 2012, 12:20:53 AM »

I've always been a Little Debbie person, myself.
Still, I wouldn't mind seeing Moon Pies & Uncle Al's Stage Planks get some recognition.

Surely someone will continue to manufacture the snack cakes and fruit pies. Otherwise, how on earth are superheroes going to stop all the third-rate villains with their plans to slightly inconvenience the public?
Logged

"Science Fiction & Nostalgia have become the same thing!" - T Bone Burnett
The world runs off money, even for those with a warped sense of what the world is.
lester1/2jr
B-Movie Kraken
*****

Karma: 1109
Posts: 12256



WWW
« Reply #9 on: November 17, 2012, 08:47:56 AM »

ceo was on CNBC yesterday talking about the Bakers Union, etc

http://video.cnbc.com/gallery/?video=3000129674&play=1#eyJ2aWQiOiIzMDAwMTI5ODU2IiwiZW5jVmlkIjoicVJ3NnFHOFNseGtCUnFmTmRtSWhHQT09IiwidlRhYiI6InRyYW5zY3JpcHQiLCJ2UGFnZSI6IiIsImdOYXYiOlsiwqBMYXRlc3QgVmlkZW8iXSwiZ1NlY3QiOiJBTEwiLCJnUGFnZSI6Miwic3ltIjoiIiwic2VhcmNoIjoiIn0=
Logged
bob
I survived Bucky Larson
Frightening Fanatic of Horrible Cinema
****

Karma: 730
Posts: 8887


Torgo watches you masterbate!


« Reply #10 on: November 17, 2012, 09:52:35 AM »

Really Indy,  You have my utmost respect most of the time but this blame Obama thing is getting old. 

Logged

Kubrick, Nolan, Tarantino, Wan, Iñárritu, Scorsese, Chaplin, Abrams, Wes Anderson, Gilliam, Kurosawa - the elite



I believe in the international communist conspiracy to sap and impurify all of our precious bodily fluids.
FatFreddysCat
Movies, Metal, Beer!
Frightening Fanatic of Horrible Cinema
****

Karma: 388
Posts: 4703



WWW
« Reply #11 on: November 17, 2012, 10:49:41 AM »

So THIS explains why Wonder Bread was a dollar a loaf yesterday at Shop Rite. It's the beginning of the Big Sell Off!!

I haven't had a Twinkie in years but it'll be sad to see them pass into history. Anyone else remember years ago when Twinkies, Cup Cakes, etc. used to have baseball cards printed on the bottom of the boxes? My brother and I used to pester the hell out of my Mom to buy Twinkies just so we could get the cards. Haha.

From what I've been able to gather, the Hostess company has had problems with mismanagement for quite some time (this was not their first go round with bankruptcy) so even if they'd been able to settle with the union this time out, they probably would've only held off the inevitable for a little while longer anyway.
Logged

Hey, HEY, kids! Check out my way-cool Music and Movie Review blog on HubPages!
http://hubpages.com/@fatfreddyscat
LilCerberus
A Very Bad Person, overweight bald guy with a missing tooth, and
Frightening Fanatic of Horrible Cinema
****

Karma: 702
Posts: 9058


Quis custodiet ipsos custodes?


« Reply #12 on: November 17, 2012, 11:08:10 AM »

I believe what truly makes this O'Bama's America, is the number of numbnuts desperate enough to think they can get rich selling the last box of Twinkies on Ebay. Bluesad

Union Greed sinks another company.  Welcome to Obama's America.
Logged

"Science Fiction & Nostalgia have become the same thing!" - T Bone Burnett
The world runs off money, even for those with a warped sense of what the world is.
El Misfit
[Insert witty here]
B-Movie Kraken
*****

Karma: 1103
Posts: 12884


Hi there!


« Reply #13 on: November 17, 2012, 12:20:26 PM »

Can we not fight, and just mourn Hostess? -_____-


I'll be honest- I never like Twinkies, nor Sno-Balls. They tasted like crap to me.

Logged

yeah no.
Mofo Rising
Global Moderator
Frightening Fanatic of Horrible Cinema
****

Karma: 460
Posts: 3222


My cat can eat a whole watermelon!


WWW
« Reply #14 on: November 17, 2012, 12:33:31 PM »

But think about this . . . the country is legalizing pot, and TWINKIES are out of business?  There is a conspiracy afoot!!!!

If they had legalized pot years ago, Twinkies would not be in dire straits. You wouldn't even be able to keep them on the shelves.
Logged

Every dead body that is not exterminated becomes one of them. It gets up and kills. The people it kills, get up and kill.
Pages: [1] 2 3 ... 5
Badmovies.org Forum  |  Other Topics  |  Off Topic Discussion  |  Hostess goes Bankrupt!!!!! « previous next »
    Jump to:  


    RSS Feed Subscribe Subscribe by RSS
    Email Subscribe Subscribe by Email


    Popular Articles
    How To Find A Bad Movie

    The Champions of Justice

    Plan 9 from Outer Space

    Manos, The Hands of Fate

    Podcast: Todd the Convenience Store Clerk

    Faster, Pussycat! Kill! Kill!

    Dragonball: The Magic Begins

    Cool As Ice

    The Educational Archives: Driver's Ed

    Godzilla vs. Monster Zero

    Do you have a zombie plan?

    FROM THE BADMOVIES.ORG ARCHIVES
    ImageThe Giant Claw - Slime drop

    Earth is visited by a GIANT ANTIMATTER SPACE BUZZARD! Gawk at the amazingly bad bird puppet, or chuckle over the silly dialog. This is one of the greatest b-movies ever made.

    Lesson Learned:
    • Osmosis: os·mo·sis (oz-mo'sis, os-) n., 1. When a bird eats something.

    Subscribe to Badmovies.org and get updates by email:

    HOME B-Movie Reviews Reader Reviews Forum Interviews TV Shows Advertising Information Sideshows Links Contact

    Badmovies.org is owned and operated by Andrew Borntreger. All original content is © 1998 - 2014 by its respective author(s). Image, video, and audio files are used in accordance with the Fair Use Law, and are property of the film copyright holders. You may freely link to any page (.html or .php) on this website, but reproduction in any other form must be authorized by the copyright holder.