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Old 11-16-2012, 07:10 AM  
petegz28 petegz28 is offline
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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 11-16-2012, 08:00 AM   #46
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Quote:
Originally Posted by jspchief View Post
That's (somewhat) new. Wasn't the case back when I was on unemployment.
I had that option in 09.

10% federal tax
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Old 11-16-2012, 08:01 AM   #47
dirk digler dirk digler is offline
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Alright I am on the union side now if this true.

Quote:
They watched as the company illegally withdrew from all Taft-Hartley pension plans, saving more than $50 million in the first five months. The BCTGM learned that the then Hostess CEO was to be awarded a 300% raise, and at least nine other top executives were to receive raises ranging between 35% and 80%.

Since the company ceased making contractually obligated payments to the Hostess workers' pensions in July 2011, it has pocketed approximately $160 million – money earned by and owed to its dedicated workforce.


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Old 11-16-2012, 08:06 AM   #48
themanwithnoname themanwithnoname is offline
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I'm not a big fan of unions, but that's not what did this. Looks like Fat Elvis and Mr. Flopnuts have brought some sense to the argument though.

I'm also totally shocked that so many people on here don't understand unemployment either.

Quote:
Originally Posted by Dave Lane View Post
Well this is headed straight to DC. And I think the unions had little to do with this. Peoples eating habits have gotten better and spelled doom for Hostess. The lack of wage concessions was a bandaid at best.

Like TJ Cinnamons another bad to eat product has gone by the wayside.
You're ****ing kidding, right?
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Old 11-16-2012, 08:12 AM   #49
petegz28 petegz28 is offline
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I don't give a shit why it happened. I don't want Twinkies going away!!!
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Old 11-16-2012, 08:15 AM   #50
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Probably want to go ahead and get used to this happening. Downward pressure on american wages will continue until we're India.
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Old 11-16-2012, 08:17 AM   #51
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Originally Posted by Graystoke View Post
Looks like the parasite killed the host....ess
Well said.
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Old 11-16-2012, 08:17 AM   #52
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Here are the teamsters talking about the contract...(teamsters accepted contract, bakers didn't).

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Old 11-16-2012, 08:22 AM   #53
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Old 11-16-2012, 08:23 AM   #54
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Quote:
The contract calls for extreme wage and benefit cuts which amount to 27- 32% overall, with an 8% wage reduction imposed immediately. The company unilaterally ceased making contributions, required by their union contracts, to the workers' pensions in July 2011. Hostess has also imposed draconian cuts in health benefits and eliminated the eight-hour workday.

Read more here: http://www.sacbee.com/2012/11/09/497...#storylink=cpy
The CEO was seeking a $1M pay increase while asking for these concessions.
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Old 11-16-2012, 08:29 AM   #55
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I'm sure the teamsters side of the story is accurate...
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Old 11-16-2012, 08:40 AM   #56
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Quote:
Originally Posted by Fat Elvis View Post
The CEO was seeking a $1M pay increase while asking for these concessions.
From your link....

This section contains unedited press releases distributed by PR Newswire. These releases reflect the views of the issuing entity and are not reviewed or edited by the Sacramento Bee staff. More information on PR Newswire can be found on their web site. You can contact the service with questions or concerns here.

Click here for the free Sacbee iPhone App!

Read more here: http://www.sacbee.com/2012/11/09/497...#storylink=cpy
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Old 11-16-2012, 08:41 AM   #57
jiveturkey jiveturkey is offline
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Quote:
Originally Posted by petegz28 View Post
I don't give a shit why it happened. I don't want Twinkies going away!!!
You probably should have been buying trucks loads of them then. They've been in a downward spiral for years now.
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Old 11-16-2012, 08:41 AM   #58
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Hostess didn't build that.
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Old 11-16-2012, 08:44 AM   #59
dirk digler dirk digler is offline
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Quote:
Originally Posted by jspchief View Post
I'm sure the teamsters side of the story is accurate...
It is but this whole thing is complicated and everyone is to blame. Teamsters did take major concessions 3 years ago and they lost thousands of jobs and yet they turned around and took more concessions this time. The other union isn't willing.

Here is a good story about it...

http://management.fortune.cnn.com/20...kies-bankrupt/
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Old 11-16-2012, 08:45 AM   #60
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Quote:
Originally Posted by HonestChieffan View Post
From your link....

This section contains unedited press releases distributed by PR Newswire. These releases reflect the views of the issuing entity and are not reviewed or edited by the Sacramento Bee staff. More information on PR Newswire can be found on their web site. You can contact the service with questions or concerns here.

Click here for the free Sacbee iPhone App!

Read more here: http://www.sacbee.com/2012/11/09/497...#storylink=cpy
No, the $1M pay increase is from the video I posted....
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