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Ding Dong the Twinkie is dead?


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#1 The Hornet

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Posted 16 November 2012 - 12:54 PM

Twinkie maker Hostess moves to wind down operations, lay off its 18,500 workers



Hostess Brands Inc. says it's going out of business after striking workers across the country crippled its ability to make its Twinkies, Ding Dongs and other snacks.

The company had warned employees that it would file a motion with U.S. Bankruptcy Court Friday seeking permission to shutter its operations and sell its brands if plants hadn't resumed normal operations by a Thursday evening deadline. The deadline passed without a deal.

The closing would mean the loss of about 18,500 jobs across the United States.

"I don't know if they thought that was a bluff," CEO Gregory Rayburn said on CNBC Friday. He said the financial impact of the strike makes it "too late" to save the company even if workers have a change of heart. That's because the clients such as retailers decide to stop carrying products when supplies aren't adequate.

Rayburn said he's hopeful that the company will find buyers for its roster of about 30 brands, which also include Ho Hos, Dolly Madison, Drake's and Nature's Pride snacks and Wonder Bread. The company books about $2.5 billion in sales a year.

In Canada, George Weston Ltd. of Toronto (TSX:WN) counts Wonder Bread among its brands while Montreal-based Saputo Inc. (TSX:SAP) has rights to the Hostess brand but doesn't include Twinkies in its current lineup of snack cakes.

Weston holds the rights to the Wonder Bread name in Canada independently and company spokesman Geoff Wilson said Friday that it has no interest in acquiring the manufacturing assets or brand names of Hostess in the U.S.

Hostess, based in Irving, Texas, said its stores will remain open for several days to sell remaining products. Operations at its 33 factories were suspended Friday. The privately held company filed for Chapter 11 protection in January, its second trip through bankruptcy court in less than a decade.

The move comes after thousands of members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union went on strike last week after rejecting a contract offer that slashed wages and benefits in September. The bakers union represents about 30 per cent of the company's workforce.

Rayburn said the union's leadership had misled members into believing there was a buyer in the wings who would rescue the company. He said the union hadn't returned the company's calls for the past month.

A union representative did not immediately return a call seeking comment.

Hostess had said earlier this week that production at about a dozen of its plants were seriously affected by the strike. Although many workers decided to cross picket lines, the company said it wasn't enough to keep operations at normal levels. Three plants were closed earlier this week.

Hostess had already reached a contract agreement with its largest union, the International Brotherhood of Teamsters. The Teamsters had urged the bakery union this week to hold a secret ballot on whether to continue striking.

Hostess said the company is unprofitable under its current cost structure, in large part because of union wages and pension costs. Rayburn said in a statement on the company website that all employees will eventually lose their jobs, "some sooner than others."

"Unfortunately, because we are in bankruptcy, there are severe limits on the assistance the (company) can offer you at this time," Rayburn wrote.

Hostess, founded in 1930, was fighting battles beyond labour costs. Competition is increasing in the snack space and Americans are increasingly conscious about healthy eating.

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BREAKING NEWS VIA CNBC TWITTER: https://twitter.com/CNBC
Hostess and Bakers Union agree to mediation, preventing shut down.

Edited by The Hornet, 19 November 2012 - 01:23 PM.

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#2 avelanch

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Posted 16 November 2012 - 12:56 PM

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someone will buy the name/rights to make them. i mean, they are about to have an all time sales increase in Colorado and Washington state.
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#3 Armada

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Posted 16 November 2012 - 01:05 PM

So what am I going to eat now if there's thermonuclear war?
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#4 Squeak

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Posted 16 November 2012 - 01:06 PM


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#5 Shift-4

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Posted 16 November 2012 - 01:08 PM

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#6 Tearloch7

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Posted 16 November 2012 - 01:16 PM

Perhaps there IS a God .. B)
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#7 Scottish⑦Canuck

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Posted 16 November 2012 - 01:36 PM

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#8 :D

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Posted 16 November 2012 - 01:46 PM

Good, I hope the striking workers have NOTHING to fall back on either.
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#9 Dancin'Droid

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Posted 16 November 2012 - 01:48 PM

What are the obese children going to eat?
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#10 TOMapleLaughs

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Posted 16 November 2012 - 01:52 PM

Union rep: "Well, you win some, you lose some."
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#11 Mr. Ambien

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Posted 16 November 2012 - 02:26 PM

What are the obese children going to eat?

Back to chips, candy, or some type of intravenously administered source of sugar and cholesterol.
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#12 Armada

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Posted 16 November 2012 - 02:35 PM

Union rep: "Well, you win some, you lose some."


This is why you don't strike.

It accomplished nothing but a thorn in all fat peoples sides.

Edited by Armada, 16 November 2012 - 02:35 PM.

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#13 Grapefruits

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Posted 16 November 2012 - 02:37 PM

Good, I hope the striking workers have NOTHING to fall back on either.


Couldn't agree more. It's about time Unions received a dose of reality.
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#14 AbbyNucksFan

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Posted 16 November 2012 - 03:37 PM

NHLPA should read this story...
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#15 theminister

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Posted 16 November 2012 - 03:45 PM

Anyone want to chip in and buy the rights?
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#16 avelanch

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Posted 16 November 2012 - 03:45 PM

Anyone want to chip in and buy the rights?

depends on the asking price.
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#17 nucklehead

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Posted 16 November 2012 - 03:46 PM

Couldn't agree more. It's about time Unions received a dose of reality.

Problem is it's a new reality and scenarios like this will become more common. Be glad you have a job, it seems like the majority of the worlds pop. doesn't or soon won't.
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#18 Jägermeister

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Posted 16 November 2012 - 03:47 PM

This dealt a serious blow to my lifelong dream of eating a deep-fried twinkie.
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Gone but never forgotten :sadno:
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#19 Ossi Vaananen

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Posted 16 November 2012 - 04:45 PM

THE TWINKIE WILL NEVER DIE, AS THE INEVITABLE ZOMBIE APOCALYPSE WILL POINT OUT, TWINKIES ARE THE ONLY FOOD THAT WILL NEVER EXPIRE AND FEED US UNTIL WE ARE ABLE TO KILL ALL THE ZOMBIES.

I PITY YOU AND YOUR IGNORANCE ABOUT THE ZOMBIE APOCALYPSE
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#20 Offensive Threat

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Posted 16 November 2012 - 05:01 PM

THE TWINKIE WILL NEVER DIE, AS THE INEVITABLE ZOMBIE APOCALYPSE WILL POINT OUT, TWINKIES ARE THE ONLY FOOD THAT WILL NEVER EXPIRE AND FEED US UNTIL WE ARE ABLE TO KILL ALL THE ZOMBIES.

I PITY YOU AND YOUR IGNORANCE ABOUT THE ZOMBIE APOCALYPSE


I pity your ignorance of the shelf life of Twinkies. Aprox 25 days. Which is very long for a baked good. The chances are eating a older one wont kill you but it sure wont have a positive impact on your health. A canned good, like Spam, is a much better choice for nutritional content and longevity.
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#21 Gunner Garrison

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Posted 16 November 2012 - 05:04 PM

I pity your ignorance of the shelf life of Twinkies. Aprox 25 days. Which is very long for a baked good. The chances are eating a older one wont kill you but it sure wont have a positive impact on your health. A canned good, like Spam, is a much better choice for nutritional content and longevity.


maybe i

zuk ya dek
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#22 Ossi Vaananen

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Posted 16 November 2012 - 05:04 PM

I pity your ignorance of the shelf life of Twinkies. Aprox 25 days. Which is very long for a baked good. The chances are eating a older one wont kill you but it sure wont have a positive impact on your health. A canned good, like Spam, is a much better choice for nutritional content and longevity.


I see you don't have a sarcasm detector.


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#23 unknown33429

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Posted 16 November 2012 - 05:18 PM


I absolutely despise Unions, but I don't agree with the owners coming together, and deciding the limits to players' salary. The owners are coming together and acting like a union in the CBA disagreement as well, since there are multiple owners of businesses trying to impose wage limits on all hockey professionals.


I don't get why people don't see it. The players aren't all holding out for more money, instead the owners are holding out for less costs. It's the opposite of a strike. An individual player should be able to charge whatever the free market allows him to do so, instead of owners coming together and putting salary limits.

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Are you CRAZY??? Trade Green for ONE first round pick?? He's restricted after this season.... He WILL get an offer sheet for 7-8 million from a number of teams regardless if he plays another minute for us or not. That offer sheet would be worth 4 first round draft choices.


Some fans overrate their players, and then there is this guy.

#24 Common sense

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Posted 16 November 2012 - 05:18 PM

It's too bad, really. They can now join the 8% of Americans who are unemployed, I guess...
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#25 WHL rocks

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Posted 16 November 2012 - 07:50 PM

Take note D. Fehr.
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#26 Wilfred

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Posted 16 November 2012 - 08:10 PM

I pity your ignorance of the shelf life of Twinkies. Aprox 25 days. Which is very long for a baked good. The chances are eating a older one wont kill you but it sure wont have a positive impact on your health. A canned good, like Spam, is a much better choice for nutritional content and longevity.

cantellifsrs
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#27 Upshall18

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Posted 16 November 2012 - 09:25 PM

As long as I can still get my Hickory Sticks
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#28 -Vintage Canuck-

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Posted 16 November 2012 - 09:46 PM

Noooooo!!!!

:(
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#29 Five For Fighting

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Posted 16 November 2012 - 09:48 PM

As long as I can still get my Hickory Sticks


Hostess hasn't owned Lays who makes Hickory Sticks for a long time. Y
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#30 Offensive Threat

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Posted 17 November 2012 - 01:37 AM

cantellifsrs


Im just trying to improve the quality of life we can all expect to bask in in the futureland of Post Zombie apocalypse Canada. Your welcome.
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