Home Discord Chat
Go Back   ChiefsPlanet > Nzoner's Game Room

Reply
 
Thread Tools Display Modes
Old 11-16-2012, 08:10 AM  
petegz28 petegz28 is online now
Supporter
 
petegz28's Avatar
 
Join Date: Feb 2005
Location: Olathe, Ks
Casino cash: $3204127
Say Goodbye to Twinkies and Wonderbread

Sad to see this happen...

Twinkies Maker Hostess Going Out of Business
http://www.nbcdfw.com/news/national-...179643161.html
Posts: 127,840
petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.petegz28 is obviously part of the inner Circle.
    Reply With Quote
Old 12-01-2012, 08:00 AM   #241
Buehler445 Buehler445 is offline
Supporter
 
Buehler445's Avatar
 

Join Date: Apr 2007
Location: Scott City KS
Casino cash: $2724734
That's brutal.
Posts: 56,445
Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.Buehler445 is obviously part of the inner Circle.
    Reply With Quote
Old 12-01-2012, 01:14 PM   #242
patteeu patteeu is offline
The 23rd Pillar
 
patteeu's Avatar
 

Join Date: Sep 2002
Casino cash: $10019237
Quote:
Originally Posted by Dave View Post
They are also not paying pensions that they owe.
Yeah, that definitely sucks, but that happens in bankruptcy situations. If they don't keep people around to wind up the business, even fewer of the creditors will get paid because the liquidation will be less likely to get top dollar.
__________________


“Boy, you all want power. God, I hope you never get it.” - Lindsay Graham
Posts: 110,871
patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.
    Reply With Quote
Old 12-01-2012, 01:47 PM   #243
Bowser Bowser is offline
mod-ish
 
Bowser's Avatar
 

Join Date: Jan 2004
Location: KC North
Casino cash: $3870616
Quote:
Originally Posted by patteeu View Post
Yeah, that definitely sucks, but that happens in bankruptcy situations. If they don't keep people around to wind up the business, even fewer of the creditors will get paid because the liquidation will be less likely to get top dollar.
Agreed.

That being said, do you agree that it is beyond ridiculous to keep a guy on to "wind up the business" at 125,000/month while 30+ year workers get ****ed out of their pensions?
Posts: 100,083
Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.Bowser is obviously part of the inner Circle.
    Reply With Quote
Old 12-01-2012, 03:58 PM   #244
Mosbonian Mosbonian is offline
On Hiatus
 

Join Date: Aug 2000
Casino cash: $2979700
Quote:
Originally Posted by patteeu View Post
Yeah, that definitely sucks, but that happens in bankruptcy situations. If they don't keep people around to wind up the business, even fewer of the creditors will get paid because the liquidation will be less likely to get top dollar.
In bankruptcy the only people to truly get paid are:

Secured Creditors
Attorneys
CPA/Accountants hired for Forensic Account purposes
Employees who wind down the business
"Experts" in bankruptcy wind-down operations (Usually these are the experts who know how to maximize value of the bankruptcy estate)



Everyone else takes a haircut....some get a slight trim, others get it all taken off the top.
Posts: 11,096
Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.Mosbonian is too fat/Omaha.
    Reply With Quote
Old 12-01-2012, 05:32 PM   #245
BigRedChief BigRedChief is offline
Has a particular set of skills
 
BigRedChief's Avatar
 

Join Date: Dec 2003
Location: On the water
Casino cash: $3549627
VARSITY
Quote:
Originally Posted by patteeu View Post
They're paying people to do a job. They're going to stop paying people who aren't doing a job anymore.
They worked for 30 years to get that pension. Now what are they going to live on?.....unemployment and the taxpayer dime. While the executive gets a 300K raise and the junior executives get raises for the fantastic job they did running it into the ground.

You see nothing wrong with this picture?
__________________
Fear leads to anger, anger leads to hate, hate leads to suffering.
-YODA
Posts: 78,627
BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.
    Reply With Quote
Old 12-01-2012, 06:12 PM   #246
patteeu patteeu is offline
The 23rd Pillar
 
patteeu's Avatar
 

Join Date: Sep 2002
Casino cash: $10019237
Quote:
Originally Posted by Bowser View Post
Agreed.

That being said, do you agree that it is beyond ridiculous to keep a guy on to "wind up the business" at 125,000/month while 30+ year workers get ****ed out of their pensions?
How easy is it to find a cheaper alternative and what were the terms of the guy's compensation before the decision to shut down and sell off?
__________________


“Boy, you all want power. God, I hope you never get it.” - Lindsay Graham
Posts: 110,871
patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.
    Reply With Quote
Old 12-01-2012, 06:14 PM   #247
patteeu patteeu is offline
The 23rd Pillar
 
patteeu's Avatar
 

Join Date: Sep 2002
Casino cash: $10019237
Quote:
Originally Posted by BigRedChief View Post
They worked for 30 years to get that pension. Now what are they going to live on?.....unemployment and the taxpayer dime. While the executive gets a 300K raise and the junior executives get raises for the fantastic job they did running it into the ground.

You see nothing wrong with this picture?
If the judge who has all the information approves it, why should I come to a different conclusion based on almost no information?
__________________


“Boy, you all want power. God, I hope you never get it.” - Lindsay Graham
Posts: 110,871
patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.patteeu is obviously part of the inner Circle.
    Reply With Quote
Old 12-01-2012, 06:18 PM   #248
DaFace DaFace is offline
Kind of a mod
 
DaFace's Avatar
 

Join Date: Aug 2005
Location: Donkey Land
Casino cash: $2436899
Quote:
Originally Posted by patteeu View Post
If the judge who has all the information approves it, why should I come to a different conclusion based on almost no information?
Though it sounds awful and I don't blame the workers for being pissed, I agree with pat on this one. If you literally just fold up shop, there's even less money in the company to pay off debts and salvage whatever they can of those workers' pensions. It sounds like a lot of money to me for sure, but if they think they can save $200k per month by paying that guy $150k per month, they're making positive progress for everyone even if it doesn't seem that way.

Last edited by DaFace; 12-01-2012 at 06:32 PM..
Posts: 51,548
DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.DaFace is obviously part of the inner Circle.
    Reply With Quote
Old 12-01-2012, 06:21 PM   #249
Jenson71 Jenson71 is offline
fides quaerens intellectum
 
Jenson71's Avatar
 

Join Date: Oct 2003
Location: United States
Casino cash: $8330900
Quote:
Originally Posted by DaFace View Post
Though it sounds awful and I don't blame the workers for being pissed, I agree with pat on this one. If you literally just fold up shop, there's even less money in the company to pay off debts and salvage whatever they can of those workers' pensions. It sounds like a lot of money to me for sure, but if they think they can save $200k per month by paying that guy $150k per month, they're making positive progress for everyone even if it doesn't seem that way.
Yeah, I guess there's not much more to do. I guess this is cheaper than paying a receivership to handle this (or maybe receiverships do not make those kinds of decisions).

Or, I will volunteer to do the job for 140K per month, and I will follow all the judge's decisions for who has priority of the remaining assets.

Last edited by DaFace; 12-01-2012 at 06:31 PM..
Posts: 15,986
Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.
    Reply With Quote
Old 12-01-2012, 06:27 PM   #250
Trevo_410 Trevo_410 is offline
Veteran
 
Trevo_410's Avatar
 

Join Date: Jan 2011
Location: Independence, Missouri
Casino cash: $5445380
just fyi, walmart bought out a lot of the hostess stuff still left at the hostess factory's. I don't know about other walmarts, but the one by me has 8 pallets full of zingers($2).

I know they aint twinkies, but may make for a good investment...?

who knows there still maybe twinkies at some of the other walmarts...
__________________
http://www.chiefsplanet.com/BB/signaturepics/sigpic14670_4.gif
Posts: 1,498
Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.Trevo_410 has just been standing around suckin' on a big ol' chili dog.
    Reply With Quote
Old 12-01-2012, 06:33 PM   #251
BigRedChief BigRedChief is offline
Has a particular set of skills
 
BigRedChief's Avatar
 

Join Date: Dec 2003
Location: On the water
Casino cash: $3549627
VARSITY
Quote:
Originally Posted by Literature View Post
Yeah, I guess there's not much more to do. I guess this is cheaper than paying a receivership to handle this (or maybe receiverships do not make those kinds of decisions).

Or, I will volunteer to do the job for 140K per month, and I will follow all the judge's decisions for who has priority of the remaining assets.
Letting the executives that ran the company into the ground to profit while the working stiffs lose their pensions? In what world does that make sense?
__________________
Fear leads to anger, anger leads to hate, hate leads to suffering.
-YODA
Posts: 78,627
BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.BigRedChief is obviously part of the inner Circle.
    Reply With Quote
Old 12-01-2012, 06:37 PM   #252
Jenson71 Jenson71 is offline
fides quaerens intellectum
 
Jenson71's Avatar
 

Join Date: Oct 2003
Location: United States
Casino cash: $8330900
Quote:
Originally Posted by BigRedChief View Post
Letting the executives that ran the company into the ground to profit while the working stiffs lose their pensions? In what world does that make sense?
As mentioned, in a world where we care about creditors and think the old executives are best able to handle the assets creditors are owed. Are the old executives taking advantage of the situation? Yeah, most likely. What is the cheaper alternative for wind-up management? Is it the receivership? I don't know.
Posts: 15,986
Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.Jenson71 has an IQ even higher than Frankie's.
    Reply With Quote
Old 12-10-2012, 08:43 PM   #253
tk13 tk13 is offline
...
 
tk13's Avatar
 

Join Date: Nov 2001
Casino cash: $2372500
More fun with Twinkies.

Quote:
Hostess Workers' Pension Money Diverted For Other Uses: Report

Hostess Brands acknowledged for the first time in a news report Monday that the company diverted workers' pension money for other company uses.

The bankrupt baker told The Wall Street Journal that money taken out of workers' paychecks, intended for their retirement funds, was used for company operations instead. Hostess, which was under different management at the time the diversions began in August 2011, said it does not know how much money it took.

"It's not a good situation to have," Hostess CEO Gregory Rayburn told the WSJ.

"Whatever the circumstances were, whatever those decisions were, I wasn't there," Rayburn added. As the founder and owner of Kobi Partners, a restructuring advisory firm, Rayburn was appointed acting CEO in March 2012.

Hostess Brands, which filed for bankruptcy for a second time in January, started liquidating its operations in November after the bakers' union refused to take another pay cut and went on strike. The liquidation will leave about 18,000 workers without jobs.
http://www.huffingtonpost.com/2012/1...n_2271868.html
Posts: 54,828
tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.tk13 is obviously part of the inner Circle.
    Reply With Quote
Old 12-10-2012, 08:53 PM   #254
Brock Brock is offline
Say hello to my little friend
 
Brock's Avatar
 

Join Date: Aug 2000
Location: Larryville
Casino cash: $9598422
Of course they did. Now the government is going to have to rescue that pension like they did those companies Romney's outfit ran into the ground.
Posts: 47,314
Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.Brock is obviously part of the inner Circle.
    Reply With Quote
Old 01-11-2013, 08:08 PM   #255
Mr. Laz Mr. Laz is offline
Don't Tease Me
 
Mr. Laz's Avatar
 

Join Date: Dec 2000
Location: KS
Casino cash: $11047037
HOSTESS TO SELL WONDER BREAD TO MAKER OF TASTYKAKE
By CANDICE CHOI
— Jan. 11 8:56 PM EST


NEW YORK (AP) — Hostess has found a new home for its most popular breads, including the iconic Wonder bread.

The bankrupt maker of Twinkies, Devil Dogs and other snack cakes said late Friday that it selected bids by rival bakery Flower Foods Inc. to buy six of its bread brands for $390 million. Flower Foods, based in Thomasville, Ga., is best known for Tastykakes but also makes breads including Nature's Own and Cobblestone Mill.

Hostess is expected to announce buyers for its famed dessert cakes in coming weeks. The company has said a wide variety of parties have expressed interest in its brands, including national supermarket chains and the makers of brand name packaged foods.

Flower Foods was selected as the "stalking horse" bidder for the bread brands. That means higher competing bids can still be made and the final deal must be approved in bankruptcy court. The company made two separate bids for the Hostess breads; a $360 million bid for Wonder, Nature's Pride, Butternut, Home Pride and Merita, along with 20 bakeries and 38 depots. Another $30 million bid was made for Beefsteak.

Taken together, Hostess said those breads generated just under $1 billion in sales last year, with Wonder bread accounting for about half of that. Flower Foods, which generates about $3 billion in annual sales, said it expects the deals to be accretive to its earning this year. The company plans to finance the deal through a mix of cash and debt.

Hostess Brands Inc., based in Irving, Texas, announced in November that it was shutting down its business and selling its breads and snack cakes.

The company's demise came after years of management turmoil and turnover, with workers saying the company failed to invest its brands. Hostess filed for its second Chapter 11 bankruptcy in less than a decade this January, citing costs associated with its unionized workforce. It had about 18,500 employees when it announced that it was shutting down after it was unable to reach a deal on a new contract with striking workers.

Hostess CEO Gregory Rayburn, who was hired last year to help orchestrate a turnaround, said in a statement that negotiations were continuing with parties for its snack cakes and remaining bread bands. The company has stressed in bankruptcy court that it would need to move quickly in the sales to capitalize on the outpouring of nostalgia prompted by its shuttering.
__________________
Posts: 95,626
Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.Mr. Laz is obviously part of the inner Circle.
    Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump




All times are GMT -6. The time now is 08:22 PM.


This is a test for a client's site.
Fort Worth Texas Process Servers
Covering Arlington, Fort Worth, Grand Prairie and surrounding communities.
Tarrant County, Texas and Johnson County, Texas.
Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2024, vBulletin Solutions, Inc.