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So much for Twinkie Factories in PalestineFollow

#1 Nov 16 2012 at 11:08 AM Rating: Good
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Hostess is permanently shutting down after a union strike crippled their operations in the middile of the company's financial troubles.

Hostess Official Website wrote:
Hostess Brands to Wind Down Company
After BCTGM Union Strike Cripples Operations

Irving, TX – November 16, 2012 – Hostess Brands Inc. today announced that it is winding down operations and has filed a motion with the U.S. Bankruptcy Court seeking permission to close its business and sell its assets, including its iconic brands and facilities. Bakery operations have been suspended at all plants. Delivery of products will continue and Hostess Brands retail stores will remain open for several days in order to sell already-baked products.

The Board of Directors authorized the wind down of Hostess Brands to preserve and maximize the value of the estate after one of the Company’s largest unions, the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM), initiated a nationwide strike that crippled the Company’s ability to produce and deliver products at multiple facilities.

On Nov. 12, Hostess Brands permanently closed three plants as a result of the work stoppage. On Nov. 14, the Company announced it would be forced to liquidate if sufficient employees did not return to work to restore normal operations by 5 p.m., EST p.m., Nov. 15. The Company determined on the night of Nov. 15 that an insufficient number of employees had returned to work to enable the restoration of normal operations.

The BCTGM in September rejected a last, best and final offer from Hostess Brands designed to lower costs so that the Company could attract new financing and emerge from Chapter 11. Hostess Brands then received Court authority on Oct. 3 to unilaterally impose changes to the BCTGM’s collective bargaining agreements.

Hostess Brands is unprofitable under its current cost structure, much of which is determined by union wages and pension costs. The offer to the BCTGM included wage, benefit and work rule concessions but also gave Hostess Brands’ 12 unions a 25 percent ownership stake in the company, representation on its Board of Directors and $100 million in reorganized Hostess Brands’ debt.

“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” said Gregory F. Rayburn, chief executive officer. “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.”

In addition to dozens of baking and distribution facilities around the country, Hostess Brands will sell its popular brands, including Hostess®, Drakes® and Dolly Madison®, which make iconic cake products such as Twinkies®, CupCakes, Ding Dongs®, Ho Ho’s®, Sno Balls® and Donettes®. Bread brands to be sold include Wonder®, Nature’s Pride ®, Merita®, Home Pride®, Butternut®, and Beefsteak®, among others.

The wind down means the closure of 33 bakeries, 565 distribution centers, approximately 5,500 delivery routes and 570 bakery outlet stores throughout the United States.

The Company said its debtor-in-possession lenders have agreed to allow the Company to continue to have access to the $75 million financing facility put in place at the start of the bankruptcy cases to fund the sale and wind down process, subject to U.S. Bankruptcy Court approval.

The Company’s motion asks the Court for authority to continue to pay employees whose services are required during the wind-down period.

For employees whose jobs will be eliminated, additional information can be found at www.hostessbrands.info. The website also contains information for customers and vendors. Most employees who lose their jobs should be eligible for government-provided unemployment benefits.


I wish the employees the best of luck at finding work, and recommend they bring recipes to Little Debbie as offerings for employment.
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#2 Nov 16 2012 at 11:20 AM Rating: Excellent
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"Hostess" as a brand name always just sounded like a word to me. I never mentally connected it to "hostess", as in a female host. No doubt this is why they ultimately failed.

Also, once when I was in grade school we took a trip to a Wonder Bread bakery and, at the end, they gave each of us a freshly made hot dog bun. It was really good and I guess even the most generic things can taste yummy if you catch them fresh enough.
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#3 Nov 16 2012 at 11:22 AM Rating: Excellent
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Quote:
In addition to dozens of baking and distribution facilities around the country, Hostess Brands will sell its popular brands, including Hostess®, Drakes® and Dolly Madison®, which make iconic cake products such as Twinkies®, CupCakes, Ding Dongs®, Ho Ho’s®, Sno Balls® and Donettes®. Bread brands to be sold include Wonder®, Nature’s Pride ®, Merita®, Home Pride®, Butternut®, and Beefsteak®, among others.


I frankly don't see how any of those are popular.
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#4 Nov 16 2012 at 11:23 AM Rating: Good
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I liked Donettes.
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#5 Nov 16 2012 at 11:24 AM Rating: Good
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Sno Balls are freaking delicious if you like coconut and don't want a Mounds. Never heard of Beefsteak brand bread before though, maybe they were similar to Japanese Meat Buns.

Edited, Nov 16th 2012 12:25pm by Shaowstrike
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#6 Nov 16 2012 at 11:41 AM Rating: Excellent
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Beefsteak was a wide loaf of rye bread, presumably for making large meaty sandwiches.
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#7 Nov 16 2012 at 5:31 PM Rating: Good
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what was or is butternut?
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#8 Nov 16 2012 at 6:06 PM Rating: Excellent
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Split top loaf of white with butter flavor in the crust. Basically a step up from Wonder Bread.
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#9 Nov 16 2012 at 6:07 PM Rating: Good
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Olorinus wrote:
what was or is butternut?


It is like a Cleveland Steamer, but with Squash
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#10 Nov 16 2012 at 6:29 PM Rating: Good
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I like butternut squash... but that bread doesn't sound nice at all
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#11 Nov 16 2012 at 6:31 PM Rating: Excellent
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Yeah, "bread & butter" is a pretty wild flavor combination.
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#12 Nov 16 2012 at 6:47 PM Rating: Good
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It's regular bread. They're all regular breads. They're in like every grocery store I've been in.

*Edit: apparently Butternut is regional. I think the rest are national though.


Edited, Nov 16th 2012 6:48pm by trickybeck
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#13 Nov 16 2012 at 9:44 PM Rating: Good
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Good riddance.
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#14 Nov 16 2012 at 9:57 PM Rating: Good
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How much dairy do you think is in a Sno Ball? Might have to try to find me some before they disappear forever.
#15 Nov 16 2012 at 10:02 PM Rating: Good
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Guenny wrote:
How much dairy do you think is in a Sno Ball? Might have to try to find me some before they disappear forever.


I'd be surprised if there was anything natural in them.
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#16 Nov 16 2012 at 10:09 PM Rating: Good
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I like how we have a thread with Palestine in the title that isn't about the recent escalation over there. I don't think twinkie factories are their biggest concern right now.

Yes, I know about the Israel thread.

Edited, Nov 17th 2012 4:10am by Kavekk
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#17 Nov 16 2012 at 10:26 PM Rating: Good
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Kavekk wrote:
I like how we have a thread with Palestine in the title that isn't about the recent escalation over there. I don't think twinkie factories are their biggest concern right now.

Yes, I know about the Israel thread.

Edited, Nov 17th 2012 4:10am by Kavekk


Pretty sure this thread title is just cross thread shenanigans. Somewhere in the other thread someone made a twinkie comment.
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#18 Nov 16 2012 at 10:36 PM Rating: Good
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TirithRR wrote:
Guenny wrote:
How much dairy do you think is in a Sno Ball? Might have to try to find me some before they disappear forever.


I'd be surprised if there was anything natural in them.


I think the coconut is the only natural ingredient. Anyway here are the ingredients for a Sno Ball:

Sugar, Water, Corn Syrup, Enriched Bleached Wheat Flour, Coconut (Sulfite Treated), Partially Hydrogenated Vegetable and/or Animal Shortening (Soybean, Cottonseed and/or Canola Oil, Beef Fat), High Fructose Corn Syrup. Contains 2% or Less of: Cocoa, Pork Gelatin, Modified Corn Starch, Glucose, Sweet Dairy Whey, Leavenings (Sodium Acid Pyrophosphate, Baking Soda, Monocalcium Phosphate), Mono and Diglycerides, Soy Flour, Polysorbate 60, Soy Lecithin, Cornstarch, Salt, Soy Protein Isolate, Calcium and Sodium Caseinate, Sodium Stearoyl Lactylate, Dextrose, Cellulose Gum, Natural and Artificial Flavors, Potassium Sorbate and Sorbic Acid (to Retain Freshness). Coatings Contain: Blue (FD&C Blue 1 Lake, Blue 2 Lake, Green (Yellow 5 Lake, Blue 1 Lake), Lavender (Blue 2 Lake, Carmine, Red 40 Lake), Orange (Yellow 6 Lake), Red (Red 40 Lake), Pink (Carmine, Red 40 Lake), Teal (Blue 1 Lake, Yellow 5 Lake), Yellow (Yellow 5 Lake)

They contain "Sweet Dairy Whey", but I don't think there is any lactose in it.
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#19 Nov 16 2012 at 11:48 PM Rating: Excellent
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Twinkies have officially reached drug prices. Stock and resell before it's too late.

Amazon

eBay
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#20 Nov 17 2012 at 1:26 AM Rating: Good
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Shaowstrike the Shady wrote:
Twinkies have officially reached drug prices. Stock and resell before it's too late.

Amazon

eBay


That's just stupid. The recipes and brand names are too valuable to not sell off. This is just a temporary shortage until some other company starts making them.
#21 Nov 17 2012 at 5:46 AM Rating: Good
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Shaowstrike the Shady wrote:
Twinkies have officially reached drug prices. Stock and resell before it's too late.

Amazon

eBay


Hmm someone with three star rating is selling a box for just under one million plus shipping. Seems legit.
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#22 Nov 17 2012 at 7:39 AM Rating: Good
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Beefsteak Marble Rye is so good.
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#23 Nov 17 2012 at 7:55 AM Rating: Excellent
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Twinkies are old news. I'm going to corner the market on Butternut bread on eBay.
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#25 Nov 17 2012 at 1:08 PM Rating: Good
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The obamaconomy at work.


Fix'd

You can at least try to be witty when you act so stupid.
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#26 Nov 17 2012 at 1:09 PM Rating: Good
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TirithRR wrote:
crazylegz1975 wrote:
The obamaconomy at work.


Fix'd

You can at least try to be witty when you act so stupid.


I don't think it is an act.
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#27 Nov 18 2012 at 10:41 AM Rating: Decent
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Professor stupidmonkey wrote:
TirithRR wrote:
crazylegz1975 wrote:
The obamaconomy at work.


Fix'd

You can at least try to be witty when you act so stupid.


I don't think it is an act.

It's the greatest act ever, and we're all just a bunch of suckers.
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#28 Nov 18 2012 at 12:08 PM Rating: Excellent
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I read an account from one of the union members as to why they held their line, even knowing the corporate board wasn't bluffing.

Hostess wanted an 8% wage cut this year, ramping up to a 27% overall cut five years from now. The now ex-employee said he'll miss the job he had before, but he sure as **** won't miss the job they were going to give him. If he's only going to make $20,000 a year as a truck driver, it wasn't going to be for "those @#%^s."

Edited, Nov 18th 2012 1:08pm by catwho
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#29 Nov 19 2012 at 7:58 AM Rating: Good
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catwho wrote:
I read an account from one of the union members as to why they held their line, even knowing the corporate board wasn't bluffing.

Hostess wanted an 8% wage cut this year, ramping up to a 27% overall cut five years from now. The now ex-employee said he'll miss the job he had before, but he sure as **** won't miss the job they were going to give him. If he's only going to make $20,000 a year as a truck driver, it wasn't going to be for "those @#%^s."

Edited, Nov 18th 2012 1:08pm by catwho
Hostess bought out one of the larger bakeries here, JJ Nissans, a decade or so ago. The message from the striking employees from the beginning has never been one of negotiation or compromise. They wanted Hostess gone with the hope that someone else would buy the Nissan bakeries.


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#30 Nov 19 2012 at 8:06 AM Rating: Good
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It's the greatest act ever, and we're all just a bunch of suckers.
Am not.
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#31 Nov 19 2012 at 2:29 PM Rating: Good
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According to CNBC's Twitter feed, Hostess and the Bakers Union have agreed to mediation which will currently delay the closure of Hostess.
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#32 Nov 19 2012 at 2:31 PM Rating: Excellent
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So what am I supposed to do with these $750 boxes of Twinkies I bought off eBay?!?
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#33 Nov 19 2012 at 2:44 PM Rating: Excellent
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Jophiel wrote:
So what am I supposed to do with these $750 boxes of Twinkies I bought off eBay?!?


Donate them to a thrift store/food shelter and claim them as a tax deduction. Make sure you print a record of the eBay sale in case the IRS wants to audit you.
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#34 Nov 19 2012 at 11:34 PM Rating: Excellent
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Aged Vintage twinkies are worth more anyways.
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#35 Nov 20 2012 at 9:12 AM Rating: Good
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They should, since they don't age.
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