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awful news reported today

desimo

By desimo,
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desimo Newbie

desimo

Posted
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TELL ME IT ISN'T SO............... The makers of American staples such as Twinkies and Hostess Cupcakes is filing for Bankruptcy......This cannot be....It must not mean the end of an era...Write you Congressment.....do something.....protect our way of life!!!!!!!

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TonyDownTheShore Newbie

TonyDownTheShore

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Posted

Here is a video link from Fox News on Hostess, and it mentioned that the Unions are what is causing them to file for Chapter 11.

http://video.foxbusiness.com/v/1383561509001/unions-killed-twinkie?intcmp=features

You 're one of the most respected members on this site, I respect your opinion but I have mixed feelings when it comes to unions as I'm a union member, most of the time when something goes wrong with a company the unions get blamed, but people forget that CEOs and top management takes the biggest sum of money with their pay and bonus and golden parachute when one retires worth millions, we the little guy have to fight to get .25 cents per hour when their pay raise is always over 10%, my wife works for a bank that just laid off thousands of people, but the CEO gave himself a 3 million dollars raise and millions in bonus to himself and his cronies.

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smee2 Newbie

smee2

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Oh no not the twinkies. Their the all American treat. What's next :(

All American Treat ... hahahahahahahaha

Sorry, couldn't resist.

It would seem that this will not affect the production and sale of Twinkies in Canada ... come on up ... we'll also still have ... Ho Hos, Ding Dongs, Sno Balls ... hahaha

:)

:D

smee2

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Sugar aficionados were dealt a not-so sweet blow on Wednesday as the company behind Twinkies and other plastic-wrapped confections filed for bankruptcy protection.

Hostess Brands Inc. said it filed for Chapter 11 protection amid worsening problems involving benefits, pensions and a harsh economic downturn.

"We remain hopeful that we can reach an agreement that will allow us to amend our labor contracts so that we can emerge from Chapter 11 as a highly competitive company," Hostess President Brian Driscoll said in a statement.

This isn't the first time the Texas-based company has sought bankruptcy protection. The previous reincarnation of Hostess emerged from insolvency proceedings in 2009.

In a released statement, Hostess referred to its previous attempts for financial change as insufficient.

Despite its troubles, Canadians need not worry about Hostess products disappearing anytime soon.

Saputo holds the rights to the Hostess brand in Canada and operates it as a separate entity.

"It's totally separate. We have nothing to do with the Hostess brand in the U.S." Saputo spokesperson Sandy Vassiadis told CTVNews.ca in a telephone interview.

Those curious about the future of Wonder Bread or other Hostess-made products may also be relieved to know that the company plans to continue regular operations during a "comprehensive financial and operation restructuring."

Hostess says the business-as-usual approach will be made possible by $75 million worth of "debtor-in-possession" financing from a group of lenders, led by investment firm Silver Point Capital.

"This Company has tremendous potential if we can remove the barriers to success," said Driscoll.

The 81-year-old company estimates that it has about 19,000 employees and operates 565 distribution centres throughout the United States.

Expert snackers may also be familiar with the company's other treats such as Ho Hos, Ding Dongs, Sno Balls and its bestselling Hostess Snack Cakes.

Read more: http://www.ctv.ca/CTVNews/TopStories/20120111/hostess-brands-120111/#ixzz1jBic6D42

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semichdave Newbie

semichdave

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You 're one of the most respected members on this site, I respect your opinion but I have mixed feelings when it comes to unions as I'm a union member, most of the time when something goes wrong with a company the unions get blamed, but people forget that CEOs and top management takes the biggest sum of money with their pay and bonus and golden parachute when one retires worth millions, we the little guy have to fight to get .25 cents per hour when their pay raise is always over 10%, my wife works for a bank that just laid off thousands of people, but the CEO gave himself a 3 million dollars raise and millions in bonus to himself and his cronies.

Tony,

Unfortunately for you & your Unions, you always get thrown under the bus. Don't take this the wrong way... but I am a business professional (I know that doesnt really matter, but...65K deep in student loan debt to land tha twhite collar career), and I do not get a guaranteed raise every year, health care, etc... nor do I have the ability to walk off the job if I do not get what I want. I get shown the door and replaced the next day. Living here in SE Michigan, it is hard... and I see both sides, daily. Those higher ups piss me off too! Most of what I do makes them look better.

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pattyangel Newbie

pattyangel

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Posted

http://www.divinecaroline.com/22107/35281-twinkie-ingredients-revealed

http://h2g2.com/dna/h2g2/alabaster/A516836

Sell short all of your chemical-company holdings. This IS terrible news, -- losing such an awesome staple! May Twinkies RIP. :(

OMGosh now I see why my twinkies last a long time in the pantry.

I don't care I still love my twinkies. Their so spongy and light.

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Unitedrich Newbie

Unitedrich

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Posted

You 're one of the most respected members on this site, I respect your opinion but I have mixed feelings when it comes to unions as I'm a union member, most of the time when something goes wrong with a company the unions get blamed, but people forget that CEOs and top management takes the biggest sum of money with their pay and bonus and golden parachute when one retires worth millions, we the little guy have to fight to get .25 cents per hour when their pay raise is always over 10%, my wife works for a bank that just laid off thousands of people, but the CEO gave himself a 3 million dollars raise and millions in bonus to himself and his cronies.

Tony,

I highly respect your opinion as well, and please don't think that I personally was "dissing" unions or union members. I was merely saying what the news report said. I totally understand your feelings about the matter. I do feel that in this competitive society we are in, we have to watch our nickels and dimes, because they eventually add up to serious dollars. I also agree with you on executive compensation, because I believe it should be "rewards based" , meaning if the executives can make the entity profitable while they are at the helm, they should be compensated as such. UR

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TonyDownTheShore Newbie

TonyDownTheShore

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Tony,

Unfortunately for you & your Unions, you always get thrown under the bus. Don't take this the wrong way... but I am a business professional (I know that doesnt really matter, but...65K deep in student loan debt to land tha twhite collar career), and I do not get a guaranteed raise every year, health care, etc... nor do I have the ability to walk off the job if I do not get what I want. I get shown the door and replaced the next day. Living here in SE Michigan, it is hard... and I see both sides, daily. Those higher ups piss me off too! Most of what I do makes them look better.

What I have to say is some unions make all the unions look bad. And I feel bad for kids coming out of college nowadays deep in debt and nowhere to go, my daughter just graduated college and she got a job at the mall in a retail store, unfortunately what you said is true, if they let you go there'll be 1000 people looking to replace you and that's all over the country not just SE Michigan, some day when the economy is better we'll look back and appreciate the lessons we've learned through this hard times, good luck to you, maybe soon you'll be able to tell your boss to shove it.

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