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Hostess Brands Closing for good

Last post Nov 18, 2012 10:21 AM by Catmint_WV_49F . 29 replies.


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  • Hostess Brands Closing for good

    What a shame! Over 18,000 jobs gone.

    http://money.cnn.com/2012/11/16/news/companies/hostess-closing/

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  • Re: Hostess Brands Closing for good

    Wow!  Never ate their products, but they were sure an institution.

    Sorry to hear that.

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  • Re: Hostess Brands Closing for good

    Their unions are on strike....some say the threatened closures are just a ploy to get the workers back to work.  If they do indeed close, I am sure someone else will buy the rights to make the twinkies, ho hos etc.  America will not go without their precious chemical/sugar ladden garbage!  

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  • Re: Hostess Brands Closing for good

    Their products are just too dangerous.  I don't eat Twinkies anymore because they don't have a chocolate coating, and germs can get inside.



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  • Re: Hostess Brands Closing for good

    If they really do close I hope another company will take over, and I hope they'll keep the same recipes. I couldn't care less about Twinkies and most of their products, but every few years I get a craving for a Sno-Ball, and the other brands just don't satisfy. I'd also never be able to have coffee and powdered sugar donuts for breakfast again. That's probably a good thing, but you'll never convince my taste buds.

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  • Re: Hostess Brands Closing for good

    LOL CIK  :)

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  • Re: Hostess Brands Closing for good

    It looks like I'd better start hoarding some of my favorites.

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  • Re: Hostess Brands Closing for good

    they are also known as wonder bread.  they are closing and taking jobs froma horrific number of people.  this is because President  Obama got reelected...Really Staunch Americans!!!!!

    ya know, he won fair and square, took the popular vote and theElectoral vote, which is unusual.....someone voted for him.  they, and the rest of the companies that are pulling this are not too smart, if they do try to come back i won't buy any of their product.  i don't consider this a political post, just a cry to the heavens...ct

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  • Re: Hostess Brands Closing for good

    This has nothing to do with the election. It also really has nothing to do with the strike. From what I have read, this outcome was inevitable because their sales are waaaaay down and have been for some time. They have filed for bankruptcy 2x in the last 10 years and filed a chapter 11 last January.  They were going down, pure and simple.

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  • Re: Hostess Brands Closing for good

    I, for one, will miss Suzy Q's.  Wink  No chocolate coating CIK.  Stick out tongue

    When grocery shopping, the Hostess section is about 3 feet of shelf space while the Little Debbie and store brands take up at least 12 feet of space. So, I am not sure if it is the store not stocking as much or Hostess is not as popular.  I do know that some Little Debbie/store brand products are pretty good but others will never measure up -- IMO. Price wise, Hostess is way up there -- I only buy if it is on sales and most of the times, not even then.

    As someone else said, it has nothing to do with the election, same as Papa Johns Pizza -- I am also not sure of what the employees want/are striking for, but this might be a way for the current management (possibly miss-management) to get out high and dry, blame it on it employees strike and hopefully sell out to someone else who cares about both the product and the employees.

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  • Re: Hostess Brands Closing for good

    the way its been said on tv, it is due to the election and there are a lot of companys doing it or talking about it.

     

    we bought one pizza from papa john............he can go outof business right now, i woodn't miss him!!!

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  • Re: Hostess Brands Closing for good

    This has nothing to do with the election and everything to do with a crappy economy and a union not willing to take a cut to help a bankrupt company get back on its feet.

    This is from the Dallas Morning News 6 days ago:
    http://bizbeatblog.dallasnews.com/2012/11/bakers-union-on-strike-against-hostess.html/ 

    The contract calls for an 8 percent wage reduction imposed immediately. With all concessions and give backs the union said the cuts amount to 27 percent to  32 percent overall.

    The company unilaterally ceased making contributions, required by their union contracts, to the workers’ pensions in July 2011 and imposed cuts in health benefits.

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  • Re: Hostess Brands Closing for good

    Not real smart on that unions part ,to go out on strike when they are in bankruptcy. Those on strike won't get un-employment. So really a dumb move on that union who told it's members this is a good idea,

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  • Re: Hostess Brands Closing for good

    www.goiam.org/index.php/imail/latest/10787-hostess-ceo-falsely-blames-bakery-closures-on-strike

    The recent claim by Hostess CEO Greg Rayburn that a strike by members of the Bakery, Confectionery, Tobacco and Grain Millers (BCTGM) is forcing the cake maker to close three of its bakeries is a classic example of a corporation turning on its employees in the midst of a bankruptcy restructuring.
     
    According to documents filed with the bankruptcy court earlier this year, Hostess was planning to close at least nine bakeries as part of its reorganization plan, although the company refused until recently to disclose which bakeries it intended to close.

    St. Louis, MO Mayor Francis Slay also rejected the claim by Hostess that the closures were related to the strike. “I was told months ago they were planning on closing the site in St. Louis,” said Slay. “And there was no indication at that time it had anything to do with the strike the workers were waging.”

    Responding to the statement by Hostess, BCTGM President Frank Hurt declared, “The recent claim by Hostess CEO Greg Rayburn that our strike is the reason for the closure of the three bakeries is simply not true,” said Hurt. “That statement is a continuation of a disturbing pattern by the company of issuing public statements that are erroneous at best and disingenuous at worst.”

    BCTGM members voted to strike Hostess after the company imposed cuts that included ending payments to the employees’ pension plan while executives awarded themselves massive bonuses. Among the raises was a 300 percent raise (from approximately $750,000 to $2,550,000) for the then-CEO of Hostess. At least nine other top executives of the company also received massive pay raises, including one who received a pay increase from $500,000 to $900,000 and another received one that brought his salary from $375,000 to $656,256.

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  • Re: Hostess Brands Closing for good

    whiteflower_pa
    Among the raises was a 300 percent raise (from approximately $750,000 to $2,550,000) for the then-CEO of Hostess.

    I wouldn't think that a bankruptcy court would allow that.

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