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Old 11-16-2012, 08:10 AM  
petegz28 petegz28 is online now
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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
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Old 11-18-2012, 12:16 PM   #226
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Hi:

Can someone please start an early games discussion thread.

Thanks in advance.
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Old 11-18-2012, 12:18 PM   #227
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Quote:
Originally Posted by Dave View Post
Not if no one buys them from Hostess.
Hmmm...didn't realize that Dolly Madison was a subsidiary of Hostess. Probably should have known this but didn't for sure.
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Old 11-18-2012, 12:22 PM   #228
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Originally Posted by DeezNutz View Post
Hmmm...didn't realize that Dolly Madison was a subsidiary of Hostess. Probably should have known this but didn't for sure.
I didn't know either until all this went down.
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Old 11-18-2012, 12:29 PM   #229
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Get used to stories like this...US going to hell.

Watch 2016.
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Old 11-18-2012, 12:29 PM   #230
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Originally Posted by DeezNutz View Post
Hmmm...didn't realize that Dolly Madison was a subsidiary of Hostess. Probably should have known this but didn't for sure.
Mentioned this earlier, but Dolly Madison management ran Dolly Madison out of business, and Hostess bought the label, and placed former Dolly Madison management in charge.

Guess what happened?
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Old 11-18-2012, 12:34 PM   #231
DeezNutz DeezNutz is offline
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Originally Posted by milkman View Post
Mentioned this earlier, but Dolly Madison management ran Dolly Madison out of business, and Hostess bought the label, and placed former Dolly Madison management in charge.

Guess what happened?
Sad but incredibly predictable.
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Old 11-19-2012, 08:25 AM   #232
ChiefsandO'sfan ChiefsandO'sfan is offline
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It’s a golden opportunity.

Hostess Brands is going out of business and it’s possible the company’s most iconic sugary confection – Twinkies -- could be bought by a Mexican business.

Mexico’s Grupo Bimbo, the world's largest bread-baking firm, could be on the short list for acquiring some of the Texas-based Hostess’ foodstuffs, according to Forbes. Grupo Bimbo already owns parts of Sara Lee, Entenmann’s and Thomas English Muffins.

Other firms that could be in the running include ConAgra and Flowers Food, the American company behind Nature Valley granola, as well as McKee Foods, baker of Little Debbie snack cakes, the Christian Science Monitor reports.

Pepperidge Farm, a division of Campbell Soup Co., is also considered a prospective buyer, analysts told Fox Business.

The Monitor reports Bimbo has already been present around the bankruptcy proceedings that have haunted Hostess for a decade, in a bid to further expand its North American portfolio and pad its $4 billion net worth.

According to Forbes, Bimbo put in a low-ball bid of $580 million a few years ago. But Hostess may turn out to be a steal with a reported worth of $135 million today.

The Hostess brands “most likely will be purchased by a competitor that will bolt the additional sales to a more efficient delivery system,” David Pauker, a food industry restructuring specialist, tells Reuters. “The company itself won't survive.”

Daniel Servitje Montull runs Grupo Bimbo along with his family. Under his leadership, which began in 1997, Daniel Servitje positioned the company for rapid growth. This included a battle with Mexico’s tortilla king and bringing white bread to Latin American markets, according to Forbes.

Today Bimbo, which reportedly competes with U.S. companies like Kellogg, Hershey and General Mills, is a $10 billion sales business with $200 million cash on its balance sheet, according to Forbes.

That’s a lot of Twinkies.


Read more: http://www.foxnews.com/us/2012/11/18...#ixzz2Cg8RSdnb
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Old 11-19-2012, 09:04 AM   #233
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Quote:
Originally Posted by ChiefsandO'sfan View Post
It’s a golden opportunity.

Hostess Brands is going out of business and it’s possible the company’s most iconic sugary confection – Twinkies -- could be bought by a Mexican business.

Mexico’s Grupo Bimbo, the world's largest bread-baking firm, could be on the short list for acquiring some of the Texas-based Hostess’ foodstuffs, according to Forbes. Grupo Bimbo already owns parts of Sara Lee, Entenmann’s and Thomas English Muffins.

Other firms that could be in the running include ConAgra and Flowers Food, the American company behind Nature Valley granola, as well as McKee Foods, baker of Little Debbie snack cakes, the Christian Science Monitor reports.

Pepperidge Farm, a division of Campbell Soup Co., is also considered a prospective buyer, analysts told Fox Business.

The Monitor reports Bimbo has already been present around the bankruptcy proceedings that have haunted Hostess for a decade, in a bid to further expand its North American portfolio and pad its $4 billion net worth.

According to Forbes, Bimbo put in a low-ball bid of $580 million a few years ago. But Hostess may turn out to be a steal with a reported worth of $135 million today.

The Hostess brands “most likely will be purchased by a competitor that will bolt the additional sales to a more efficient delivery system,” David Pauker, a food industry restructuring specialist, tells Reuters. “The company itself won't survive.”

Daniel Servitje Montull runs Grupo Bimbo along with his family. Under his leadership, which began in 1997, Daniel Servitje positioned the company for rapid growth. This included a battle with Mexico’s tortilla king and bringing white bread to Latin American markets, according to Forbes.

Today Bimbo, which reportedly competes with U.S. companies like Kellogg, Hershey and General Mills, is a $10 billion sales business with $200 million cash on its balance sheet, according to Forbes.

That’s a lot of Twinkies.


Read more: http://www.foxnews.com/us/2012/11/18...#ixzz2Cg8RSdnb
That's what I figured. And it is pretty horrible news for the 18,500 unemployed.

The names and recipes will be bought, produced, and distributed through another company's system.
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Old 11-19-2012, 02:35 PM   #234
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"New lifeline for Hostess workers: Bankruptcy judge orders company to enter mediation with Bakers Union (from AP)'
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Old 12-01-2012, 01:41 AM   #235
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Amazed this didn't get posted. I will post it without comment and let you all fight it out.

Quote:
A federal bankruptcy judge has approved bonuses for executives of Hostess, the maker of Twinkies, who stay on as the company is broken up and sold off.

On Thursday, as part of a plan to liquidate the company and lay off 18,000 workers, a federal judge in White Plains, N.Y., approved paying 19 Hostess executives bonuses totaling $1.8 million. Hostess has said it has interest from at least 110 firms who want to buy pieces of the operation.

The decision comes as the company, known for its iconic snack cakes like Ho Hos and Ding Dongs, says it doesn't have enough cash on hand to pay retirement benefits to some former employees.

The bonuses do not include pay for CEO Gregory Rayburn, who was brought on as a restructuring expert earlier this year, according to The Associated Press. Rayburn is being paid $125,000 a month.

Former employees are outraged over the bonuses handed out to high ups.
"Anybody's got a reason to be upset who lost their job if there handing out large amounts of money," Paul Carroll told ABC News.

In a statement overnight, Hostess said the bonuses are designed to keep top brass from leaving before winding down what's left of the company "quickly and cost-effectively."

"I was qualified to draw my pension, with no notice I lost about 70 or 75 percent of it I didn't work 34 years to lose it," Carroll said.

Hostess was given interim approval for its wind-down last week, which gave the company the legal protection to immediately fire 15,000 union workers. Hostess said last week it will retain about 3,200 employees "to assist with the initial phase of the wind-down," which is expected to last about a year.
http://gma.yahoo.com/bankrupt-hostes...opstories.html
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Old 12-01-2012, 01:47 AM   #236
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Old 12-01-2012, 01:57 AM   #237
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So, they are taking money that is owed to the workers and giving it to the executives before the ship sinks all the way to the bottom?

WOW. Straight up corporate theft right there.
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Old 12-01-2012, 04:43 AM   #238
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So, they are taking money that is owed to the workers and giving it to the executives before the ship sinks all the way to the bottom?

WOW. Straight up corporate theft right there.
They're paying people to do a job. They're going to stop paying people who aren't doing a job anymore.
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Old 12-01-2012, 05:33 AM   #239
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Quote:
Originally Posted by BossChief View Post
So, they are taking money that is owed to the workers and giving it to the executives before the ship sinks all the way to the bottom?

WOW. Straight up corporate theft right there.
Only the middle class people working in a union are greedy. Executives making 20-50 times what the regular hourly employee of the company are somehow not considered greedy.
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Old 12-01-2012, 06:43 AM   #240
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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 are also not paying pensions that they owe.
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