Nasty union goons and leaders kill Twinkies....


"Hostess, the makers of Twinkies, Ding Dongs and Wonder Bread, is going out of business after striking workers failed to heed a Thursday deadline to return to work, the company said.

“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” Hostess CEO Gregory F. Rayburn said in announcing that the firm had filed a motion with the U.S. Bankruptcy Court to shutter its business. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders.”"

http://www.nbcdfw.com/news/national-international/NATL-Twink...



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The assets will probably be bought up by a Mexican conglomerate, which will avoid paying any US income taxes , at pennies on the dollar, and move most production to Mexico, where it will be hauled to US markets on trucks driven by Mexican truck drivers under NAFTA rules.


18,500 workers laid off in the Obama economy.

18,500 workers lose their pensions and benefits as the company goes bankrupt.

Likely this is the start of a whole raft of industries going bust with all the strangulation from union demands, Obama regulations, Obama rules and ObamaKare.

I wonder what a Mexican made Twinkie will contain and how it will taste? Jalapeno Twinkies? red White and Green wrapper?


t.

telegraph wrote: 18,500 workers lose their pensions and benefits as the company goes bankrupt.

They probably won't lose their pensions.

Pension Benefit Guaranty Corporation
http://www.pbgc.gov

telegraph wrote: 18,500 workers lose their pensions and benefits as the company goes bankrupt.

They probably won't lose their pensions.

Pensions are mostly guaranteed, but payments might be reduced.

Work related benefits will be lost. Cobra doesn't apply when a company stops offering health insurance. Any pay due and vacation are high priority creditors.

At least the strike against Nob Hill/Raleys was short. With increased competition, if the strike had been longer the chain would have folded.

I hope you guys can see this because it made me laugh:

http://www.facebook.com/#!/photo.php?fbid=4686740002839&...

Nasty union goons and leaders kill Twinkies....

Riiiight, those nasty union goons gave the CEO a 300% pay raise, along with executive raises of 35 - 80%:

http://www.inquisitr.com/401545/usps-loss-hostess-bankruptcy...

The BCTGM was informed (via the Unsecured Creditor Committee) that the Hostess CEO was awarded a 300% raise (from approximately $750,000 to $2,550,000) prior to the January 11, 2012 bankruptcy filing. Additionally, at least nine additional top executives also received incredible raises ranging from 35% to 80%. For example, one such executive received a pay increase from $500,000 to $900,000. The chief negotiator for Hostess received a pay increase from $375,000 to $656,256.

Dang unions and their greedy CEOs...oh, wait...

Just curious tele, are you happy to be on the wrong side of *every* issue?

"Ding Dong the company's dead." --William Jacobson

--fleg

jweist wrote: Dang unions and their greedy CEOs...oh, wait...Just curious tele, are you happy to be on the wrong side of *every* issue?


The practical reality is that 18,000 jobs, because of unions, just went "Pfffft!"

18,500 workers laid off in the Obama economy.

18,500 workers lose their pensions and benefits as the company goes bankrupt.

Let them eat cake. They reap what they sow. Go 0bama and his union thug cronies. lol

The practical reality is that 18,000 jobs, because of unions, just went "Pfffft!"



This is a lie.

The practical reality is that 18,000 jobs, because of unions, just went "Pfffft!"

Really? CEOs giving themselves and executives a 300% and average 60% pay increase is because of unions?

The union argument is your emotional reality, but has nothing to do with practical reality.

jweist wrote: Really? CEOs giving themselves and executives a 300% and average 60% pay increase is because of unions? The union argument is your emotional reality, but has nothing to do with practical reality.

If I was the CEO of a corporation that the unions were running into the ground, I'd take the money and run, too. No reason not to.

If I was the CEO of a corporation that the unions were running into the ground, I'd take the money and run, too. No reason not to.

Nice to see those Christian morals so blatantly displayed.

one year ago:

Some creditors question Hostess pay raises approved in late July a year ago

Brian Driscoll, CEO, around $750,000 to $2,550,000
Gary Wandschneider, EVP, $500,000 to $900,000
John Stewart, EVP, $400,000 to $700,000
David Loeser, EVP, $375,000 to $656,256
Kent Magill, EVP, $375,000 to $656,256
Richard Seban, EVP, $375,000 to $656,256
John Akeson, SVP, $300,000 to $480,000
Steven Birgfeld, SVP, $240,000 to $360,000
Martha Ross, SVP, $240,000 to $360,000
Rob Kissick, SVP, $182,000 to $273,008

Now: We demand salary rollbacks of union workers, an end to pension payments, a reduction of benefit costs!

And you can't figure out why the workers would strike. No wonder American business is in the crapper, with "let them eat cake" support like yours. I remember when Lee Iacocca cut his own salary to $1 a year so he could look the union negotiators in the eye and say "We're all in this together." It appears that no one in management at Hostess - or across a litany of other American enterprises - is that smart.

And you can't figure out why the workers would strike.
----------------------------------------------------

http://www.washingtontimes.com/news/2012/nov/15/us-postal-se...

Despite nearly $16 billion in annual losses announced by the U.S. Postal Service on Thursday, all but one of the top five executives for the nation's mail service had an overall compensation increase this year, records show.

“As we continue to adjust to a changing business environment, it’s important that we recruit and retain the forward-thinking leadership we need to continue to remain viable,” he said. “Compensation is important to that equation.”

Total compensation for top postal executives is capped at $276,840, based on a rule that executives can’t earn more than 120 percent of the salary of the vice president of the United States. But the board of governors, which approves executive compensation for the Postal Service, can authorize hundreds of thousands of dollars in deferred compensation payments.

The Washington Times reported last year, for instance, that retired Postmaster General John E. Potter, now chief executive of the Metropolitan Washington Airports Authority, was still owed more than $800,000 in deferred compensation payments with payouts scheduled over a decade.
--------------------------------------------
Are you upset?

If I was the CEO of a corporation that the unions were running into the ground



There are no such corporations.

GoofusDoofus wrote: And you can't figure out why the workers would strike.

Oh, I figured it out. And now they're unemployed. Good job, union thugs.

>>If I was the CEO of a corporation that the unions were running into the ground<<


There are no such corporations. - FMNH

----------------

That's a lie!

If I was the CEO of a corporation that the unions were running into the ground, I'd take the money and run, too. No reason not to.

Except that they weren't:

http://boards.fool.com/worker-who-had-worked-there-37-years-...

But I expect you'd find any old lame excuse to take the money and run anyway.

jweist wrote: But I expect you'd find any old lame excuse to take the money and run anyway.

You think you have all the available data on which to form your opinion? You do not. You're just a librul who forms opinions on how they make him "feel."

Hostess warned that it would liquidate unless the bakers--just one of several unions involved with Hostess--who were striking in protest against a new contract imposed in bankruptcy courtreturned to work.

One union drove Hostess into bankruptcy. Just one. Only one group of union thugs.

" It appears that no one in management at Hostess - or across a litany of other American enterprises - is that smart. "

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Ahhh.

So as far as business and labor you mean to say that
going out of the Twinkie business is only their

just
dessert?

Howie52

One union drove Hostess into bankruptcy. Just one. Only one group of union thugs.

Correction.

One union drove Hostess into LIQUIDATION rather than reorganization.

Quoted: One union drove Hostess into bankruptcy. Just one. Only one group of union thugs.

warrl wrote: Correction. One union drove Hostess into LIQUIDATION rather than reorganization.

A VERY important distinction! And one which, having not been made by an ignorant media, cost Mitt Romney millions of votes.

warrl wrote: Correction. One union drove Hostess into LIQUIDATION rather than reorganization.

A VERY important distinction! And one which, having not been made by an ignorant media, cost Mitt Romney millions of votes.



Too bad Romney wasn't smart enough to explain it. But then again, he couldn't even hire a competent webmaster. That's why he doesn't have what it takes to be president.

FeedMeCrap wrote: Too bad Romney wasn't smart enough to explain it.

He did explain it--within the context of the op-ed. It was the editor at The New York Times that wrote the headline--column writers don't get to do that--and "Let Detroit Go Bankrupt" became a meme.

You don't even realize how brainwashed you really are, do you?

hostess had 157 union contracts or so.......just too many mergers over too many years.


The mess had to collapse at some point.


You can't run a company with 157 sets of work rules, contract rules, and union thugs each demanding their union get the top perks, benefits, etc.



t.