RIP, Twinkies . . .

[Panacea]

Thanks for the link. I don't usually go into the Pop culture forum.

I found it interesting that the top execs had their pay cut to $1 as a union appeasing measure. Still, it looks as though the strike simply hastened the inevitable. That the poor performance of the company execs was to blame for the closure, the unions for the timing.

The Bakers can't make enough to support their families under the proposed contract. They would have to quit anyway. My grandfather was a baker for Wonderbread; there's more to it than mixing batter in a bowel. It's skilled labor; hard to hire a whole new crew off the streets. The execs ran the company into the ground, and now want the Bakers to pick up the cost.

They're going to have to give the Bakers a reason to stick around to end the strike. A symbolic move like top execs taking $1 in salary (while still getting their bonuses no doubt) isn't going to cut it.

[EricKei]

A symbolic move like top execs taking $1 in salary (while still getting their bonuses no doubt) isn't going to cut it.

...There's also the fact that, if they're wise, most of their prior paychecks are either squirreled away somewhere safe, or else converted to gold/other valuables/stocks.

[XCashier]

"What about the Twinkie?"

Was wondering when someone was going to bring out the Ghostbusters quote!

but Funny Bones...those were soo good frozen.

SuzyQ's were good frozen, too. It's been decades since I've had one...

A Mexican company, who has been eyeing Hostess for 10 years now, may look to swoop in and pick up the company for a song.

http://worldnews.nbcnews.com/_news/2...-twinkies?lite

So, will we be seeing Bimbo HoHos soon?

[Andara Bledin]

Don't seal up that coffin yet, folks.

At a judge's urging, Hostess and the Union are heading to mediation.

Not sure that it will do more than just delay the inevitable, but we'll see what happens.

Article at the NY Times

^-.-^

[Teysa]

I hope they're able to come to some sort of agreement. I don't even like Twinkies all that much, but it would be a shame for all of those people to be out of work.

[Panacea]

Little Debbie and Tasty Cakes are two other "fast cake/pastry" makers and they are not owned by Hostess, so you can see if you can stock those instead or if you already do sell them point the pot people toward those. (Zebra cakes are good, and Tasty Cakes makes a bunch of different kinds of mini-pies that are delicious.)

Blech. Can't stand any of those products. Ding Dongs used to be my crack cocaine, but I had to quit eating them; I got too chunky.

As others have pointed out, it's very probable that someone will buy the Snack Foods brand from Hostess Inc, and resume production of Twinkies, Ding-Dongs, and all the rest, just under a different branding.

Exactly. Which is why I think anyone dumb enough to buy these products on eBay is a sucker who deserves what they get.

I found another informative poster, people love to make these things.



So please, anyone who thinks it was the fault of those 5000 workers that everyone got laid off and the brand went into liquidation. Think again.

My grandfather retired from Wonder Bread in the 70's (he was a baker and a member of the original bakers union). His pension and social security was the only income my grandmother had, other than the sale of her house, before she died a couple of years ago. It's scary to think that if she were still alive, she'd be stripped of that income by this.

Even more so; Grandpa put a lot of pressure on Dad to stay with the bakery after Dad got out of the Navy (Dad worked with the engineers keeping the machinery going while he went to college). If Dad had caved and stayed there, Mom would have lost her pension as well and Brother and I would be wondering how we would be able to afford taking care of her.

[Tanasi]

Fortunately for folks there is a government agency that steps in and takes over those pension obligations. The pensioners will still receive a check but it would most likely be reduced.

What I would like to know is why did the Teamsters believe management and the bakers didn't??? Heck the Teamsters even crossed the picket lines.

[Aethian]

Our Hostess store here had everything 50% off but most of the snack goods were gone before the sale started. One of the workers said that everything will most likely be gone by friday and then they just need a wrecker to take the truck that had been waiting for repairs and the shop would be closed.

[mikoyan29]

Fortunately for folks there is a government agency that steps in and takes over those pension obligations. The pensioners will still receive a check but it would most likely be reduced.

What I would like to know is why did the Teamsters believe management and the bakers didn't??? Heck the Teamsters even crossed the picket lines.

So in other words, the hedge folks can steal the money and pass it off on the taxpayers. I guess the only contracts that matter these days are the ones with the movers and shakers.

[s_stabeler]

So in other words, the hedge folks can steal the money and pass it off on the taxpayers. I guess the only contracts that matter these days are the ones with the movers and shakers.

not in the pension itself. What happens is the government agency takes over the pension, including assets. It then pays out whatever percentage of the original benefit the pensionholders will now get; it's mostly paid for by said assets.

[Tanasi]

Correct and whatever amount that wasn't funded or underfunded can not be collected so the pension plan will have to go on without it.


I didn't know until yesterday that Merita bread was owned by the bunch and the local bakery was closed. We've been eating Merita Autumn Grain whole wheat bread for over 30 years and now we have to find a new brand.
Do they still make Roman Meal bread???

[EricKei]

Yes. Roman Meal is still arround, iirc. They're independent.


Potential good news on Hostess: a bankruptcy court has reportedly given the go-ahead to liquidate/sell their assets -- which includes brand names and recipes.

[mikoyan29]

not in the pension itself. What happens is the government agency takes over the pension, including assets. It then pays out whatever percentage of the original benefit the pensionholders will now get; it's mostly paid for by said assets.

Well maybe not directly on the taxpayers but it is still a goverment agency that from what I hear is woefully underfunded. But hey, that seems to be the way for hedge fund folks...privatized gains and socialized losses.

[AmbrosiaWriter]

Whelp, now if you weren't sure if the top executives weren't greedy assholes trying to milk every last bit of money out of the company they could:


Hostess Executive Bonuses: Twinkie-Maker To Seek Approval For $1.8 Million In Bonuses During Liquidation

[Cats]

My local grocery chain has come out with their own store brand now of some Hostess and Little Debbie snacks. I have to say that was really fast, unless the idea was already on the table and the demise of Hostess was what rushed it into production.

Since I'm not big on those snack products, I haven't bought nor tasted them.


Another side effect of the Hostess crash that I hadn't realized that's making our customers sad: We no longer carry bread. Every brand we carried was Hostess owned and delivered.

No idea if/when we are going to replace those products with something different, but I'm sure at corporate level there have probably been talks.