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Hostess Brands Moves to Wind Down Operations, Sell Assets

Discussion in 'The OT' started by fluffybear, Nov 16, 2012.

  1. Nov 16, 2012 #1 of 313
    fluffybear

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    From Fox News:

    From Wall Street Journal:

     
  2. Nov 16, 2012 #2 of 313
    WestDC

    WestDC Well-Known Member

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    Biting the Hand feeds
     
  3. Nov 16, 2012 #3 of 313
    fluffybear

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    just some of the Hostess Brands in the United States:

    Baker's Inn
    Beefsteak
    Blue Ribbon
    Bread du Jour
    Butternut Breads
    Colombo
    Cotton’s
    Di Carlo
    Drake's
    Dolly Madison
    Dutch Hearth
    Eddy’s
    Good Hearth
    Holsom
    Home Pride
    Hostess
    J.J. Nissen
    Merita
    Millbrook
    Mrs. Cubbison’s
    Nature's Pride
    Parisian
    Standish Farms
    Sweetheart
    Toscana
    Wonder Bread
     
  4. Nov 16, 2012 #4 of 313
    spartanstew

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    Time to stock up on Twinkies and Ding Dongs
     
  5. Nov 16, 2012 #5 of 313
    MysteryMan

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    I'm sure Michael Bloomberg will take great pleasure hearing about this.
     
  6. Nov 16, 2012 #6 of 313
    dpeters11

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    Tallahassee will definitely not be happy...
     
  7. Nov 16, 2012 #7 of 313
    bobukcat

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    From what I've read the company was planning on closing some locations within the next year anyway (they are in the middle of their 2nd bankruptcy) but it was also ~5000 striking bakers that sealed the fate of all ~18,500 workers.

    That's a lot of jobs lost and if they were moving them overseas the media would be all over this story!
     
  8. Nov 16, 2012 #8 of 313
    Cholly

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    Quite a list of brands there. I recognize several brands of bread that would disappear: Butternut (which I remember from Chicago), Holsum, Home pride, Merita, Millbrook, Nature's Own -- perhaps others that I don't recognize. I would guess that several of them would be picked up by Sara Lee or Stroheman.
    If Twinkies disappear, it would be a blow to state fair vendors (deep fried Twinkies) and Blue Man Group, which uses Twinkies in one of their skits. :lol:

    This is a serious problem for both the company and its employees. If it does indeed go under, The closing would mean the loss of about 18,500 jobs. The company said employees at its 33 factories were sent home and operations suspended Friday and its roughly 500 bakery outlet stores will stay open for several days to sell remaining products.
     
  9. Nov 16, 2012 #9 of 313
    jacksonm30354

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    Just to provide another side to the story:

    http://ronniedobbs.tumblr.com/post/35840920086/apparently-the-only-source-of-useful-information

    I am not against all unions. I think they should be limited to only the company in question, not industry or multi industrywide like the UAW, IBEW, etc. Sometimes management is wrong and if you live in a small town where there aren't other work alternatives, you can't just quit and go somewhere else very easily. And sometimes unions make outrageous demands.

    As with most everything, the truth lies somewhere in the middle.
     
  10. Nov 16, 2012 #10 of 313
    Rich

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    The NY Daily News is calling him "Marathon Mike" now. He wanted to have the NY marathon right after Sandy hit. Much as I like the way he's cleaned up the city, I don't know what he was thinking when he refused to cancel the marathon until the last minute.

    Rich
     
  11. Nov 16, 2012 #11 of 313
    runner861

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    So do people think that the products will go away? Or will someone else buy the company (or the license for the products) and resume operations, possibly in the same factories with the same personnel?
     
  12. Nov 16, 2012 #12 of 313
    alex000

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    If I may quote Darth Vader:

    "NOOOOOOOOOOOOOOO!!!!"
     
  13. Nov 16, 2012 #13 of 313
    alex000

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    Better add bear paws :)
     
  14. Nov 16, 2012 #14 of 313
    runner861

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    Isn't this somewhat short of a done deal? Since Hostess is in bankruptcy, I believe that they have to seek approval of the bankruptcy judge to liquidate. He/she may not agree to it.
     
  15. Nov 16, 2012 #15 of 313
    longrider

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    What I have read is that the brands will probably be purchased but it is unlikely the old bakeries would be used. The buyer would just start producing them in their own facilities

    I believe the bankruptcy judge has approved the liquidation
     
  16. Nov 16, 2012 #16 of 313
    sum_random_dork

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    Most imporant in this, what will happen to the "Twinkie Defense?" As a child growing up in the SF Bay Area I was not allowed to eat Twinkies....my Mom would joke "Twinkies make you crazy and you might kill people." When I was older I finally was able to read/learn about the Milk/Moscone murders and learned it was truly something real.
     
  17. Nov 16, 2012 #17 of 313
    fluffybear

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  18. Nov 16, 2012 #18 of 313
    runner861

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  19. Nov 16, 2012 #19 of 313
    Lord Vader

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    You may.
     
  20. Nov 16, 2012 #20 of 313
    Matt9876

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    In this job starved economy this is the last thing the employees needed to do, Be assured if the doors actually close there is going to be major regrets.

    With the new health care law and higher taxes I expect 100s of companies to pull the plug in the next few years. :(
     

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