Post Comment Preview Comment
To reply to a Comment: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to.
View All
Favorites
Bloggers
Recency  | 
Popularity
Page:  « First  ‹ Previous  1 2 3 4 5  Next ›  Last »  (85 total)
HUFFPOST SUPER USER
NovemberScorp
10:25 AM on 11/20/2012
Thank God. I was having a meltdown thinking I'd never be able to stick my tongue into a Twinkie and get that cream again! LMAO.
10:20 AM on 11/20/2012
So if Hostess goes into bankruptcy, why not re-organize, bag the unions and hire a non-union work force?
12:35 PM on 11/20/2012
They are based in Texas which is a right to work state, so throw out the union and hire non union labor, and also check to make sure the executives are on the up and up.
02:33 PM on 11/20/2012
So $15 an hour is too much to pay a skilled American worker? And Obama is destroying the middle class, eh? I can see your point though. Saving 50 million a year would truly turn around a company that sells 1.5 billion in product a year.
04:05 PM on 11/20/2012
"Skilled" American worker? OK, if you say so. This is a private company. The owners can either drive it into the ground or make it a success. It's their choice. They are accountable to no one except themselves. The point I was making, which you apparently missed, was under bankruptcy laws, the owners can reorganize and negate all contracts with the unions. By the way, a contract with a union is not always about money as you infer. If I was a private owner, there is no way I would let a union steward dictate my employees' work hours or working conditions. The only obligation I would have is to pay a competitive wage with benefits and provide a safe working environment. I would also have a profit sharing plan with my employees so they would feel their efforts had an impact on their net pay. $50 million is 3.33 % of the gross sales. That is not an insignificant amount if you are losing money.
Tejasdon
If all else fails at least we can secede.
10:20 AM on 11/20/2012
As a Hostess employee who lost my job last Friday and who didn't join the union when I hired on, I think the union did the only thing they could. The company has unsustainable debt and unlike the Feds they can't just print money. The current restructuring plan called for closing 9 more bakeries, add that to the 50% cut in jobs the union has taken since the last bankruptcy, the best hope for keeping jobs was to have Hostess liquidated. Several companies have shown interest in buying it and would have Hostess up and running in 6-12 months.
HUFFPOST SUPER USER
Marc Kivel
42 is still the answer
12:07 PM on 11/20/2012
I sincerely hope things turn around for you, Don. Thanks for your honesty and integrity...may God bless you and yours!
07:00 PM on 11/20/2012
Keeping my fingers crossed for you but it is likely that only the brand rights will be bought and production farmed out on a contract basis or with existing capacity.
Tejasdon
If all else fails at least we can secede.
08:04 PM on 11/20/2012
Of the most likely bidders for the Hostess brands, one is a bread company who wants into the Midwest market and another is a snack company that has no bread or cake plants. Of the 36 that Hostess has 9 were to be closed under the currant restructuring plan. Most of the remaining 25 will need updating and many would not be wanted by a new brand owner. The bakeries in locations that the new owner doesn't have a bakery near by would most likely still be used. Bottom line is allot of us won't get our jobs back but, allot of us would lose our jobs when they closed the 9 bakeries they had planed.
xerocada1
Up North-Down East
10:20 AM on 11/20/2012
Twinkies saved, American health system loses - more obesity, more dialysis & heart disease.
10:33 AM on 11/20/2012
Give it up, it is up to the people to deside what they want eat not the state
xerocada1
Up North-Down East
11:48 AM on 11/20/2012
Yeah, but I don't want to pay for their health costs, either. So, as long as they agree not to ask for expensive remedies for their life-style diseases, I'm fine with their obesity.
photo
mikedavid1
America first
10:14 AM on 11/20/2012
One year of worthless negotiations....looks like the union showed the company who's boss and are going to get what they wanted....unemployment....unless Obama bails out the company saying ...."Twinkies is not just any snack!!" (as he asserted GM just not any car company, when he dumped millions or tax dollars into them to pay union benefits keeping the company going....for now....
11:00 AM on 11/20/2012
Would those dozen management who received an 80% pay hike last spring consider re-negotiating that raise to keep the company functioning?
photo
mikedavid1
America first
11:28 AM on 11/20/2012
People costs: management = 10% plant workers = 90% Certainly, whatever percentage reduction the union takes, the same should apply to management...but that's probably a mute point now.
HUFFPOST SUPER USER
olitenup
10:14 AM on 11/20/2012
"Hostess execs asking court for $1.75 million in bonuses:". Just like the capital vultures did at Hawker-Beechcraft, at the same time Hawker was laying off employees by the hundreds. Judge was appalled, hope the judge in this case says NO too
HUFFPOST SUPER USER
Marc Kivel
42 is still the answer
12:11 PM on 11/20/2012
I hope the judge dismisses the management with cause TODAY as well as the Board of Directors who hired them, reconstitutes a board with competent leadership and seats for the unions
10:10 AM on 11/20/2012
This CEO isn't using his head. All he has to do is declare that Hostess is anti -gay , anti-abortion and the Republicans will run out and purchase hostess products by the case.
photo
CaptainNoLies
Telling the truth since 1776
10:04 AM on 11/20/2012
Watch out workers, or management will give you the ding-dong...
10:00 AM on 11/20/2012
Twinkies and the rest of that Hostess garbage were never going anywhere. They sell tons of that crap. Just another ploy to prevent American workers from receiving fair wages and benefits.

And we (government) allow it.
09:58 AM on 11/20/2012
Yes, it was always about the Twinkie. This is why El Snacktator went out on his own, decades ago. Hemingway and Picasso were much more exciting than Twinkie the Kid.
photo
HUFFPOST SUPER USER
Alan Kent Shoemaker Sr
Just trying to survive long enough to die!
09:56 AM on 11/20/2012
They should fire every one of the employees that chose to go on strike instead of come to work and hire some of the 23 million people without a job that would love to have this one!
11:03 AM on 11/20/2012
What about the dozen management who received an 80% pay hike in the spring? That was definitely a necessity to keep the company running in such shipshape condition, wasn't it?
HUFFPOST SUPER USER
Marc Kivel
42 is still the answer
12:12 PM on 11/20/2012
Maybe ya oughta check out the mismanagement before ya make a commitment, Alan....
09:51 AM on 11/20/2012
This is a story of how "Small Business has been working for the past 20 years in America... If the CEO is making less than 2 million a year it isn't worth making products here in America. The company that bought Hostess is taking their profits off the backs of american workers... Why should they take another cut in pay.... or work for less benifits. ?? The Unions are NOT to blame.... the mentality of todays Wall Street business men... is the problem.
photo
unkeat
Freedom is the Issue
10:14 AM on 11/20/2012
Profits off the backs of American workers? You mean they are hired by a company because the company can make more money from their work than they cost? That's true...its there something sinister in there I don't see? Isn't that actually a pretty good system, because it puts a value on labor, and allows workers to accept that value, or get a skill that the market values higher.
HUFFPOST SUPER USER
Marc Kivel
42 is still the answer
12:15 PM on 11/20/2012
That system also expects owner/managers to keep their contractual obligations in good faith and that doesn't include running a company that provides 18,500 folk a livelihood into the ground by looting and mismanaging the firm...vulture capitalism isn't fit for moral or ethical people - could it be why Mr. Romney didn't make the cut?
10:32 AM on 11/20/2012
The union is not to blame, only the stupid union workers who would rather walk a picket line and then collect their 99 week unemployment checks.
I worked for a company who had been around for over 135 years, the UAW workers who were not auto workers went on strike for over a year, the company shifted mfg. to Mexico,
kept going for another year were told to settle because of their gov. work, did not, gov. said company had to mfg. in US. Grand old company closed in bankruptcy. Good Job union
HUFFPOST SUPER USER
Marc Kivel
42 is still the answer
12:16 PM on 11/20/2012
Hey, put the blame where it belongs: management. They get paid the big bucks to manage and grow the company...they don't they need to go and pay back their compensation for the period they failed to perform...
09:46 AM on 11/20/2012
This article is incorrect. Hostess is not hurt by rising labor costs. The Union employees have not received any increase in pay since 2004, while the CEO and Board have received increases of over 40%, some making more than a million a year. Hostess has been hurt not by the Union, but by poor management which failed to change it's business model in response to a changing market.
10:01 AM on 11/20/2012
The crippler for Hostess was the $2B in debt to various multi-employer union pension funds. Every year the cost of participating in these funds has increased as fewer and fewer employers survive to keep them propped up. Hostess offered to maintain the same retirement benefits for its own past, current and future employees in its own fund -- the union wanted to keep Hostess locked in for fear the fund will collapse. (It will eventually anyway and sooner now with all these unfunded Hostess retirements now falling to other employers)
The problem is the union has not changed its business model, particularly when it comes to managing their pension funds. For decades they've been simply sliding the shortfall onto participating employers and could never compete with private pension providers in the open market.
The union work rules in over 300 collective bargaining agreements also made it almost impossible to make the sweeping innovations needed to keep the company viable. Even Solomon could not have managed this company to viability without considerable concessions from the unions. And they all seemed to understand that -- except the bakers union whose pension fund is about to belly up.
HUFFPOST SUPER USER
olitenup
10:15 AM on 11/20/2012
This company was BAINed. Do you work for BAIN or another capital vulture firm?
This user has chosen to opt out of the Badges program
photo
HomeGrower
Independent - so both sides hate me
10:35 AM on 11/20/2012
These are the same legacy costs that are killing cities and school boards around the country.

Unions can try, but pensions will soon be dinosaurs. Eventually all union members will be expected to pay for their own retirement.

OMG, they'll have to put away their own money and live on SS and MCare like the rest of us.

The HORROR !!!
09:42 AM on 11/20/2012
Petulant executive management.
09:40 AM on 11/20/2012
the company needs a shakeup at the management level. maybe including union representation on the board, or making the company a esop might help.
photo
bknfan
Husband, Father, Veteran, Soccer Fan.
09:46 AM on 11/20/2012
This man wants to save the twinkie. Give this man the job.

CEOs cut pay & benifits and then give themself a raise.

anyone else see anything wrong of why the company is failing? Corporate Greed.
09:54 AM on 11/20/2012
The union was offered representation on the board and still declined the offer. The sticking point for the union was Hostess participation in the union's pension fund. Hostess wanted out with the guarantee to fully fund the promised retirements of its own past, current and future employees.
The bakers' union would not let Hostess out of it's own grossly underfunded pension plan which requires employers shoulder the burden not only of their own employees but those of companies no longer in business. The baker's fund in particular is on the critical list and as it is, even with Hostess still contributing, those currently under 55 will likely see little or any retirement income from it. The union is its own failing business model attempting to shift the results of its own mismanagement onto companies like Hostess.
HUFFPOST SUPER USER
Marc Kivel
42 is still the answer
12:26 PM on 11/20/2012
So who pays your check, GRO?

Offering someone 25% of the chairs on a sinking ship wouldn't impress me either; now if they had given the unions 50.1% ownership in exchange for lowering a portion of the unfunded pension obligations and then the unions could have canned the execs with no severance and the unions were allowed to sue all previous owners and execs for the last 8 years to claw back the loot owners & managers took out of the company, THEN it might have been a reasonable offer...but of course that would have meant trusting workers to do what was good for themselves and their company which as we all know is the owner and managers' job...or is it?