Reuters reports this morning via the Chicago Tribune:
Hostess Brands Inc., the bankrupt maker of Twinkies and Wonder Bread, said it had sought court permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
Hostess said a strike by members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union that began last week had crippled its ability to produce and deliver products at several facilities.
The Irving, Texas-based company said the liquidation of the company would mean that most of its 18,500 employees would lose their jobs.
Hostess gave striking workers until 4 p.m. Thursday to return to work to avoid this liquidation. The workers have indicated that they have already conceded enough during these bankruptcy proceedings and could not afford another 8 percent reduction in salaries. Now their salaries will be reduced 100 percent.
Peoria’s Hostess plant is located at 1511 W. Lincoln Ave. and and employs about 200 people, according to published reports.
Jim, I don’t consider baking exactly an untrained or unskilled job. They were working for $14 an hour and the 8% cut would have lowered to around 12.75 an hour. They took a cut a few years back from around $18 an hour.
I consider it an unskilled job. That is the starting $ amount. I see the value in the trade unions such as electricians, Steam/pipe fitters, plumbers, etc. I don’t see the value in the twinkie makers international, kroger bag boys, biehls counter employees, or the government secretaries of america.
It is not news because it is not a news source. It is a Billy Dennis opinion piece complete with lies and errors just like everything that slob ever wrote. I could write a column for the examiner right now that could say the exact same thing. Literally. Would that be news?
Well Hostess is going back to the table with the union and may not close after all.
Jim. I am confused. The link I posted, the examiner.com is not written by Billy Dennis. In fact the site has nothing to do with Dennis. So why is it a half a step above Dennis? Because you don’t agree with it?
Also, apparently the union isn’t the reason for Hostess going out of business as a Federal judge has ordered the company to negotiate with the union. So maybe it is good to stand together. I am right, the real reasons this company went under s gross mis management and lack of sales. The strike just brought these problems to light.
Emtronics – the point is that the “examiner” is a blog. It is an opinion website designed similar to Bleacher Report or Rant Sports. They are designed to maximize page views by posting articles on controversial topics into 5 different pages or with 100 pop up ads. It is not a news source at all, so please stop treating it like such.
Ok I get it. This was written by a democrat so….
http://money.cnn.com/2012/11/19/news/companies/hostess-bankruptcy-bonuses/index.html
This is from CNN Money side of their web site.
‘d like everyone to think back to the 1990 hit movie, ‘Pretty Woman’ with Richard Gere and Julia Roberts. Yes, it focused on a ‘Pygmalion-like transformation of a young Los Angeles prostitute’, but remember the other story line with Richard Gere’s character Edward Lewis. His company is a lot like these hedge funds and equity companies. Go in, buy up a company, break it apart, lay off workers, sell it for profit. As Edward started his own transformation, he asked his attorney Philip Stuckey (played by Jason Alexander), ‘what do we make?’, and got the reply,’We make money, lots of it’.(something like that)
Of course, in the end, Edward Lewis decided to end a hostile takeover of a shipbuilding company, and instead help it grow. It’s too bad more ‘money-making’ companies don’t do this.
Hostess is in a situation similar to this. Obviously their sales were down because everyone is more health conscious these days. But if those companies who helped Hostess after the 2004 bankruptcy had invested in new, healthier snack products, that might have helped them do a better turnaround, and not go into bankruptcy a 2nd time.
Dennis,
That’s leftist Hollwood’s stereotype of businessmen. Greedy and evil. Nothing else. Of course, real businessmen risk their capital to build their companies. Sometimes they succeed, sometimes not.
A good example is Bain Capital’s investment in Fort Wayne, Indiana’s Steel Dynamics, which was founded in 1993. Bain provided seed money to help the upstart, which opened its flat rolled steel mill at Butler, Indiana in 1996.
Since then, Steel Dynamics has expanded to become the country’s fifth-largest steel producer. It acquired a failed steel mill at Pittsboro, Indiana (originally Qualitech Steel, which opened the re-bar plant in 1998 along I-74 west of Indianapolis) and built a structural steel and rail mill at Columbia, Indiana in 2003. It has about 6,000 employees at all facilities.
See http://www.steeldynamics.com/
http://news.investors.com/011312-597772-steel-dynamics-says-romney-led-bain-funded-its-success.aspx
” Of course, real businessmen risk their capital to build their companies. Sometimes they succeed, sometimes not.
A good example is Bain Capital’s investment in Fort Wayne, Indiana’s Steel Dynamics, which was founded in 1993.”
LMAO It’s always Left wing dribble if it doesn’t adhere to the Right’s talking points and using Bain Capital as a success story in anything is laughable.
“LMAO It’s always Left wing dribble if it doesn’t adhere to the Right’s talking points and using Bain Capital as a success story in anything is laughable.”
So would you like to point out where my points about Steel Dynamics are incorrect?
Emtronics:
Very sad … “using Bain Capital as a success story in anything is laugable.”
When you or I or any of us characterize a person or an organization as all “one way or another”, we shut ourselves off to what is uplifting about that person or organization … there is usually a mixed bag for all of us.
However, your comment about Bain misses the point … especially your use of the word ‘anything’
Please take the opportunity to read about what Mitt Romney, whom you seem to despise, did for Mr. Robert Gay, when his 14 year old daughter ended up missing. Mitt decided to tell his partners at Bain Capital and the search efforts began and eventually those supposed ‘evil’ Bain people as well as Price Waterhouse, Goldman, and so on took to the streets and found his daughter by networking with many people and getting the word out. Mr. Gay is forever grateful for Bain’s help.
Read about it hear at a link you might find credible …
http://www.snopes.com/politics/romney/search.asp
and many other places too.
It can be very difficult to determine another’s persons intent from their actions when we view them with negative or disdainful lenses in the glasses we wear.
I don’t despise Mitt anymore than Mitt despises the 47%. (His words) Bain Capital is in the business of buying companies, re-organizing their debt, and taking a huge profit. Now if the company works, ok but in Bain’s case, it is most often add traditional debt so they can take the money, layoff workers, and close the company, then leave. It’s what they do. They aren’t in any other business but to make money off of failing or troubled business. They buy sometimes assets 10 cents to the dollar and take what they can. If they have any success, it is rare and far between.
The point is, this is my opinion on Bain and you don’t have to like it but using Bain as an example for success, only works when Bain succeeds. Usually at the cost of jobs which they have sent plenty to China. Do you think I make this stuff up?
So yes, people, or Capitalist do invest money into many fruitful projects and many do take the risk. The problem with an unwatched Wall street during the Bush years, and even today, is that the investors like to remove risk and circumvent the rules. It caused the collapse of our economy. Romney was deep in this but his wealth, or most of it came from Dad. That is why when he ran as a business man, the Left kept pointing out all the things Bain and Romney did to companies they bought and controlled.
Oh, I am not saying Romney isn’t a caring and good person. Probably is. He just isn’t Presidential material.
The problem with an unwatched Wall street during the Bush years, and even today, is that the investors like to remove risk and circumvent the rules. It caused the collapse of our economy. Romney was deep in this but his wealth, or most of it came from Dad. That is why when he ran as a business man, the Left kept pointing out all the things Bain and Romney did to companies they bought and controlled.
Had Hostess purchased Kool-Aid for liberals, they would be guaranteed profits for a million years 😀
Emtronics:
wrote ‘Romney was deep in this but his wealth, or most of it came from Dad.’
I have repeatedly read that Mitt’s inheritance from his father was donated in total to BYU.
I know that Bush is blamed for all the woes on Wall Street and Main Street … just wondering what your take is on a couple of policies:
(1) Bill Clinton and his policy to assist Americans to become homeowners by relaxing credit/borrowing requirements even for people who really were not able to afford homes but were extended credit via the change in lending criteria and
(2) Barrack Obama with his energy development projects … Solyndra.
and what is your criteria for someone to be deemed ‘Presidential material’?
Thanks for the dialogue.
Obama Administration invested in over 93 green energy companies. Of those 3% failed and yes Solyndra (FOX News mentions this to death) failed. That’s 3%
Bain Capital, while under Romney invested in 80 different companies one being a doll company that would make a doll looking like you went you sent in a picture of yourself or kid. Of those 53% failed. (If you want a laugh and see the FACTS on this, Jon Stewart of the Daily Show did a segment on just this)
So failure happens in all investments.
As for Presidential material, it could be anyone, but not someone who says “I can see Russia from my yard” or who says “47% of the people are takers and I don’t care about them”
As for Clinton and his polices. I don’t understand all but do know that we had a balanced budget, jobs, and he left Bush with a surplus. What did Bush leave?
the daily show for news? Good as Fox for reliability. It’s a comedy show – kinda like a run for city council.
Thanks Emtronics … dialogue is very helpful, especially while we are in the Agora. We will just have to agree to disagree …
Would you consider that the Daily Show is ‘fair and balanced’ or ‘biased’ or funny?
Solyndra is only in the 3% of failures at what dollar level? And then there is the private vs. public dollar investment … you may want to have it both ways … the government picking the winners and losers … it seems that on a local level you are not supportive of the government picking the winners and losers … hotel, ball stadium, Cub Foods …
And while you do not like the 47% comment and it is regrettable that Romney said that …
what might Obama be saying with the ‘microphone off’ in private gatherings … or Joe Biden who is divisive in his comments … throwing words of terrorist and slavery to desccribe Americans … hardly words of unification … us vs. them … instead of looking at policies … resort to name calling to segregate people … it seems like it is okay to segregate people as long as they are not in your circle of inclusion.
So, Happy Thanksgiving … I do think that we can agree that there is so much to express gratitude, starting with our families! 🙂
Actually what Obama said on mic was scary. “I’ll have more freedom after the election”, Karrie, you are beating your head against the wall. Much like the stubborh Hostess employees who will be at the Salvation Army for Christmas this year. He is running for council. They don’t listen or learn either. such as Warehouse requires a much larger vision…..that means “the taxpayers will foot an even larger bill for an area that has NO private money lined up. I will be shopping, eating, and enjoying more and more in East Peoria where public safety and private funds encourage my dollars to be spent there.
So we are going to second guess what Obama might be saying off mic? Really? The Daily Show is bias but damn more accurate than Fox. Like I said, check the segment I mentioned and tell me if the facts don’t match up. The 3% was dollar value in total investment. Again, watch the segment. And to bring up what he said to the Russian President is again a Fox talking point. I know, if I don’t agree with you and your assessments then I am drinking the kool aid. or I am an idiot. Never mind that 53% of the country felt, as I do, that Obama was the right choice. At least I am in the majority. Happy Thanksgiving.
There are more idiots than geniuses. Being part of a majority doesn’t mean you are right, just that you have company. As far as idiots go, at least you are proving yourself qualified for City Council. Good luck.
Emtronics,
You want accuracy, huh? Start with these:
“I can see Russia from my yard”
Sarah Palin actually said, “They’re our next-door neighbors, and you can actually see Russia from land here in Alaska, from an island in Alaska.”
Her statement is 100% true. Little Diomede island is three miles from Russia’s Big Diomede. They are within eyesight of the other.
Read more at http://www.snopes.com/politics/palin/seealaska.asp#BfBJQziAdMhphiJC.99
http://www.snopes.com/politics/palin/seealaska.asp
“47% of the people are takers and I don’t care about them.”
Mitt Romney actually complained that 47% of the nation receives some kind of government entitlement, and that “[his] job is not to worry about those people. I’ll never convince them they should take personal responsibility and care for their lives.” (i. e., they’re being taken care of by government, or think they are).
I get a kick out of liberals who complain about Fox News and then admit they get their information from a certified clown like Jon Stewart on Comedy Central.
Anyway, Happy Thanksgiving to all.
Really? Defending Sara Palin? Ok Good luck with that. Yes Romney said 47% and that included the elderly, veterans, and everyone else including low wage working Americans that don’t gross enough in a year to pay taxes. It was an insensitive remark lumping people together and it most likely sealed his fate. Keep defending him.
As for Jon Stewart, yes he is a comedian, but he uses facts and video to show how off Fox News really is. Yes, it helps he puts a funny spin on it, but those with half a brain can get it. Tell me, have you watched the show? It is good enough and dead on to get Bill O’Rielly to show up and dispute Stewart.
Oh and you are right about how Palin could see Russia from land in Alaska. She used that analogy as her experience in foreign policy. Yep, I can see Russia so I am good at foreign policy. LMAO
I don’t watch fox news. I don’t understand why you keep assuming I do.
And to bring up what he said to the Russian President is again a Fox talking point..
Doesn’t matter whose “talking point” it was, Obama said this none the less, into a live mic and was caught, you are making the same assertation. Quite Frankly, Romney was correct. the increasing number of unemployed, the increasing number of people expecting the government to pay for everything from their housing to food to children that they don’t even know who the fathers are as well as the men who will knock up anything and refuse to provide. Those are in fact the population growing by leaps and bounds, mainly because children are expensive and if you work then you can’t afford a 1/2 dozen of them. Peoria is a prime example and it all feeds into the problems at schools and in the community.
Emtronics,
You’re proving my point. I offer you actual quotes to correct your Daily Show-inspired distortions but then you keep harping that show’s interpretations.
Jon Stewart is openly liberal, with a leftist slant to his show. His editing is a la Michael Moore – dishonest. That liberals get their news from comedians. How fitting.
Please Tell me where I can get everything Yes Stewart id Liberal. What’s wrong with that? Somebody has to be right and it sure as hell hasn’t been the GOP.
Liberals get their news from all kinds of sources….Right wing nuts get theirs from Fox. Period.
Hey all you Rightwinged dips. Obama pardoned a turkey yesterday. Fox News is saying the criminal turkey got away because of the light hearted Socialist. They are calling it Turkeygate and are demanding Congressional hearings McCain is outraged. Hannity’s head is about to explode. Limbaugh vows to eat the entire turkey.
All these posts under “Hostess to liquidate” Amazing what people can spin an issue.
It’s on target. Everyone including Rightwingnuts enjoy a Hostess product from time to time.
There you have it! Future mayor pro tem, is it? I could see you reach out across the horseshoe, maybe for a turkey leg or a rasberry zinger. At least your Biden-like quotes and analysis will have PJStar back in the black in no time.
Hey all you Rightwinged dips. Obama pardoned a turkey yesterday. Fox News is saying the criminal turkey got away because of the light hearted Socialist. They are calling it Turkeygate and are demanding Congressional hearings McCain is outraged. Hannity’s head is about to explode. Limbaugh vows to eat the entire turkey.
And you completely made that up 🙁
No David. Give it time. Fox News will have the endless story 😉
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