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Ding Dong the Twinkie is dead?


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#31 Mr. Ambien

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Posted 17 November 2012 - 01:40 AM

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.

Or modified twinkies using cannabis butter.

#32 avelanch

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Posted 17 November 2012 - 01:04 PM

Or modified twinkies using cannabis butter.

tweakies?

#33 hudson bay rules

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Posted 17 November 2012 - 02:10 PM

Haven't eaten any of their products in years.


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#34 Buddhas Hand

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Posted 17 November 2012 - 08:05 PM

Take note D. Fehr.


Right ON mate :lol:

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#35 PredsFanFromLa

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Posted 17 November 2012 - 10:25 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:



you always have some fried oreos,they are good

#36 DarthNinja

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Posted 18 November 2012 - 05:55 PM

Twinkies will likely survive Hostess sale

There's no need to panic, another snack company will likely buy the profitable Twinkie brand.

5:41PM EST November 18. 2012 -

DETROIT (AP) — Twinkie lovers, relax.

The tasty cream-filled golden spongecakes are likely to survive, even though their maker will be sold in bankruptcy court.

Hostess Brands Inc., baker of Wonder Bread as well as Twinkies, Ding Dongs and Ho Ho's, will be in a New York bankruptcy courtroom Monday to start the process of selling itself.

The company, weighed down by debt, management turmoil, rising labor costs and the changing tastes of America, decided on Friday that it no longer could make it through a conventional Chapter 11 bankruptcy restructuring. Instead, it's asking the court for permission to sell assets and go out of business.

But with high brand recognition and $2.5 billion in revenue per year, other companies are interested in bidding for at least pieces of Hostess. Twinkies alone have brought in $68 million in revenue so far this year, which would look good to another snack-maker.

"There's a huge amount of goodwill with the commercial brand name," said John Pottow, a University of Michigan Law School professor who specializes in bankruptcy. "It's quite conceivable that they can sell the name and recipe for Twinkies to a company that wants to make them."

Hostess has said it's received inquiries about buying parts of the company. But spokesman Lance Ignon would not comment on analysts' reports that Thomasville, Ga.-based Flowers Foods Inc. and private equity food investment firm Metropoulos & Co. are likely suitors. Metropoulos owns Pabst Brewing Co., while Flowers Foods makes Nature's Own bread, Tastykake treats and other baked goods. Messages were left for spokesmen for both companies on Sunday.

"We think there's a lot of value in the brands, and we'll certainly be trying to maximize value, both of the brands and the physical assets," Ignon said Sunday. He said it's possible some of Hostess' bakeries will never return to operation because the industry has too much bakery capacity.

Little will be decided at Monday afternoon's hearing before Bankruptcy Judge Robert Drain, Pottow said. The judge eventually will appoint a company that specializes in liquidation to sell the assets, and the sale probably will take six months to a year to complete, Pottow said.

Irving, Texas-based Hostess filed for Chapter 11 bankruptcy protection in January for the second time in less than a decade. Its predecessor company, Interstate Bakeries, sought bankruptcy protection in 2004 and changed its name to Hostess after emerging in 2009.

The company said it was saddled with costs related to its unionized workforce. The company had been contributing $100 million a year in pension costs for workers; the new contract offer would've slashed that to $25 million a year, in addition to wage cuts and a 17% reduction in health benefits.

Management missteps were another problem. Hostess came under fire this spring after it was revealed that nearly a dozen executives received pay hikes of up to 80% last year even as the company was struggling.

Then last week thousands of members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union went on strike after rejecting the company's latest contract offer. The bakers union represents about 30% of the company's workforce.

By that time, the company had reached a contract agreement with its largest union, the International Brotherhood of Teamsters, which this week urged the bakery union to hold a secret ballot on whether to continue striking. Although many bakery workers decided to cross picket lines this week, Hostess said it wasn't enough to keep operations at normal levels.

The company filed a motion to liquidate Friday. The shuttering means the loss of about 18,500 jobs. Hostess said employees at its 33 factories were sent home and operations suspended. Its roughly 500 bakery outlet stores will stay open for several days to sell remaining products.

News of the decision caused a run on Hostess snacks at many stores around the country, and the snacks started appearing on the Internet at inflated prices.

http://www.usatoday.com/money/


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#37 Common sense

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Posted 18 November 2012 - 07:14 PM

Well, if the union thinks they can do a damn better job, then here's their chance.

#38 Offensive Threat

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Posted 18 November 2012 - 09:08 PM

So the trademarks and recipes etc. all go up for sale. Anything thats profitable, like twinkies, will be back in production by another company soon enough. Maybe a couple months at most. By a company that wont have to deal with the unions that dragged Hostess down.

The union really hit that one out of the ballpark. Id love to hear how they told the employees that they lost all their jobs "You know how you all didnt want that 30% pay decrease? Well guess what? You dont have to worry about that anymore" Game over.

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#39 Pouria

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Posted 19 November 2012 - 12:49 AM

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.

With files from the Canadian Press


Read it on Global News: Global Edmonton | Twinkie maker Hostess moves to wind down operations, lay off its 18,500 workers



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#40 hockeyville88

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Posted 19 November 2012 - 01:14 PM

Not so fast!

CNBC@CNBC

BREAKING: Hostess and Bakers Union agree to mediation, preventing shut down.


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#41 nucklehead

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Posted 19 November 2012 - 01:17 PM

I don't think I've ever had a Twinkee. Might have, just can't recall ever having one. Do they sell them up here?

 


#42 ronthecivil

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Posted 19 November 2012 - 01:20 PM

Anyone want to chip in and buy the rights?


As long as it doesn't come complete with the union contract....

Don't worry, someone will buy the rights to it and start making them again.

#43 The Hornet

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Posted 19 November 2012 - 01:26 PM

Just read this on CNN. Could this be why Hostess is back?

Hostess may have a buyer.

FORTUNE -- Private equity firm Sun Capital Partners wants to buy bankrupt bakery Hostess Brands Inc., Fortune has learned.
The proposal would be to operate Hostess as a going concern, including reopening the shuttered factories and continuing union representation of Hostess workers.
Sun Capital privately expressed interest in acquiring Hostess earlier this year, but the bakery's creditors chose for an alternate reorganization plan that ultimately failed. Following Friday's liquidation, Sun reengaged by contacting Hostess advisor Perella Weinberg Partners. It also plans to contact the relevant labor unions.
"I think that we could offer a slightly better, more labor-friendly deal than what was on the table last week," says Sun co-CEO Marc Leder, in an interview with Fortune. "We also think that one point the unions have made is that there hasn't been a great amount of reinvestment in the business. We've found that investing new capital into companies like this can be very positive for brand, people and profitability... We would look to invest in newer, more modern, manufacturing assets that would enable the company to become more productive and to innovate.""
MORE: The end of Hostess
Sun's earlier proposal would have maintained the existing lenders -- led by Silver Point Capital and Monarch Alternative Capital -- and would expect to do the same this time around. But Sun also believes that it could "make the company immediately profitable on an EBITDA basis," which could open the door for the current lenders to exit and new ones to step in.
Leder also thinks that Hostess would be a relatively easy company to restart, particularly given that most of its vendors still have empty shelves where Hostess products used to reside. Moreover, he doesn't buy the argument that Hostess is a long-term loser due to the changing American diet:
MORE: Don't worry, Twinkies will survive
"Do you see M&Ms or Mars having any trouble? Or Haagen Dazs or Godiva? People like to indulge in desserts. Obviously you don't eat only Twinkies for breakfast, lunch and dinner, but people love them as a snack."
Sun Capital is based in Boca Raton, Fla. and focuses on companies with significant challenges (including those in bankruptcy). It currently is in the process of raising $3 billion for its sixth fund. Notable portfolio companies in the food and beverage space include Contessa, Creekstone Farms and Harry's Fresh Foods.

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#44 Spitfire_Spiky

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Posted 19 November 2012 - 02:00 PM

Sad to hear but someone will buy up the Twinkie brand simply because it is so marketable.
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#45 red&white

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Posted 19 November 2012 - 02:00 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.


Well, if the union thinks they can do a damn better job, then here's their chance.



The unions can't be blamed for this. There have been huge differences in diet and consumer preferences down in the states and Hostess has completely failed to adapt. Americans aren't eating wonder bread as a dinner side dish like they used to and with the popularity of yogurt and energy bars now, they aren't limited to toast as a quick and easy breakfast anymore. Add that to the reliance of nostalgia,a failure in marketing and a higher health consciousness, hostess didn't stand a chance with or without unions. Completely blaming unions for this is both ignorant and irresponsible.

#46 nucklehead

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Posted 19 November 2012 - 03:11 PM

Sad to hear but someone will buy up the Twinkie brand simply because it is so marketable.


Did you read the post above yours that was posted 34 minutes sooner?

 


#47 Common sense

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Posted 19 November 2012 - 03:32 PM

The unions can't be blamed for this. There have been huge differences in diet and consumer preferences down in the states and Hostess has completely failed to adapt. Americans aren't eating wonder bread as a dinner side dish like they used to and with the popularity of yogurt and energy bars now, they aren't limited to toast as a quick and easy breakfast anymore. Add that to the reliance of nostalgia,a failure in marketing and a higher health consciousness, hostess didn't stand a chance with or without unions. Completely blaming unions for this is both ignorant and irresponsible.


Is that why 1/3 of Americans are (still) classified as obese? - http://www.cdc.gov/o...data/adult.html

The union said "screw you" to management and went on strike, not the other way around with a lockout. If union thinks they can do a better job in managing workers, increasing wages and benefits, as well as increasing revenue, then they should buy the brand and take it over. What better way to show management you deserve better than to do it yourself?

#48 Wetcoaster

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Posted 19 November 2012 - 03:44 PM

The bankruptcy court judge was quite puzzled by the way in which the union acted in going on strike without even filing an objection to the offer or attempting the "critical step" of mediation. It now seems that mediation will begin on Tuesday.


Twinkies won't die that easily after all.


Hostess Brands Inc. and its second largest union will go into mediation to try and resolve their differences, meaning the company won't go out of business just yet. The news came Monday after Hostess moved to liquidate and sell off its assets in bankruptcy court citing a crippling strike last week.


The bankruptcy judge hearing the case said Monday that the parties haven't gone through the critical step of mediation and asked the lawyer for the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, which has been on strike on Nov. 9, to ask his client, who wasn't present, if the union would agree to participate. The judge noted that the bakery union went on strike after rejecting the company's latest contract offer, even though it never filed an objection to it.


Last ditch effort


"Many people, myself included, have serious questions as to the logic behind this strike," said Judge Robert Drain, who heard the case in the U.S. Bankruptcy Court in the Southern District of New York in White Plains, N.Y. "Not to have gone through that step leaves a huge question mark in this case."


Hostess and the union are expected to begin the mediation process on Tuesday.

http://www.cbc.ca/news/business/story/2012/11/19/hostess-twinkie.html
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#49 red&white

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Posted 20 November 2012 - 11:55 AM

Is that why 1/3 of Americans are (still) classified as obese? - http://www.cdc.gov/o...data/adult.html

The union said "screw you" to management and went on strike, not the other way around with a lockout. If union thinks they can do a better job in managing workers, increasing wages and benefits, as well as increasing revenue, then they should buy the brand and take it over. What better way to show management you deserve better than to do it yourself?



Twinkies and Wonder Bread had much higher sales when a lower percentage of Americans were considered obese so that figure is irrelevant. Like I said, there is more choice for Americans. Whatever companies have owned Wonder Bread, Twinkies and all the rest haven't kept up to the times. The employees had already accepted wage and benefit concessions a few years ago after a previous bankruptcy, yet Hostess is still drowning in close to $1 billion in debt. The current model they are operating on won't work no matter what the employees are making. If they accept these latest wage concessions all they are doing is prolonging the inevitable.

#50 Common sense

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Posted 20 November 2012 - 04:11 PM

Twinkies and Wonder Bread had much higher sales when a lower percentage of Americans were considered obese so that figure is irrelevant. Like I said, there is more choice for Americans. Whatever companies have owned Wonder Bread, Twinkies and all the rest haven't kept up to the times. The employees had already accepted wage and benefit concessions a few years ago after a previous bankruptcy, yet Hostess is still drowning in close to $1 billion in debt. The current model they are operating on won't work no matter what the employees are making. If they accept these latest wage concessions all they are doing is prolonging the inevitable.


If the current model doesn't work and union doesn't want to negotiate (as seen in their non-action to go to arbitration), then what are management to do except shut the whole thing down? Why should management continue to operate under an environment where they are bleeding out money to the point of a second bankruptcy and the union is stubborn, refusing to negotiate?

I say for Hostess, go ahead and shut operations down. Let the union die out a painful death.

Edited by Common sense, 20 November 2012 - 04:12 PM.


#51 red&white

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Posted 20 November 2012 - 10:51 PM

With the amount of liability Hostess has and how much new wage concessions would save, it would be like putting a band aid on a gun shot wound. The numbers tell the story and at the end of the day mismanagement is what killed Twinkies plain and simple.

#52 Mr. White

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Posted 21 November 2012 - 08:48 AM

Or modified twinkies using cannabis butter.


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#53 debluvscanucks

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Posted 21 November 2012 - 08:53 AM

Haven't eaten any of their products in years.


It's all my fault


Yep, after that surge as a kid, I too contributed to the downfall.

But, never fear, this guy's got us covered...

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#54 ronthecivil

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Posted 21 November 2012 - 08:57 AM

Or modified twinkies using cannabis butter.


I wonder if they have plants in Colorodo or Washington.

They could produce limited edition sold only in appropriate facilities "Tweakies!".




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