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NextBigThing
Joined: 26 Oct 2009
Posts: 15886
Location: Tuck Rule FTW
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 Posted: Sat Nov 17, 2012 5:51 pm Post subject: |
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Whats the deal with Hostess? Bankruptcy, or just closing down?
Why wouldn't they sell the recipe...?
| iPwn wrote: | | Vikefan79 wrote: | | Some dude has a box of Twinkies on EBay selling for $5000! |
Someone is trying to sell them on Craigslist for $150,000.  |
In an hour it will come down, saying "sorry, got hungry"
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iPwn
Joined: 10 Oct 2009
Posts: 35168
Location: Stand United
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| Posted: Sat Nov 17, 2012 6:24 pm Post subject: |
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| NextBigThing wrote: | Whats the deal with Hostess? Bankruptcy, or just closing down?
Why wouldn't they sell the recipe...? |
Bankruptcy. They'll have to sell off their assets, including all their recipes. I'd expect some competitors to buy the recipes just to sit on them so someone else can't use it.
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SoCalNiner
Joined: 13 Nov 2007
Posts: 18580
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| Posted: Sat Nov 17, 2012 8:52 pm Post subject: |
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This would be awesome if it were all a big lie. Honestly, I kind of want a chocodile now.
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49erjunkie
Joined: 30 Jan 2007
Posts: 2715
Location: Closer than you think
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| Posted: Sat Nov 17, 2012 9:18 pm Post subject: |
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Nothing of value was lost.
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mcmurtry86
Joined: 02 Mar 2010
Posts: 16176
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| Posted: Sat Nov 17, 2012 11:17 pm Post subject: |
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| iPwn wrote: | | I'd expect some competitors to buy the recipes just to sit on them so someone else can't use it. |
This.
People expecting the recipes to get sold off to companies who will start making Twinkies and such using the Hostess recipe will most likely be disappointed. |
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mcmurtry86
Joined: 02 Mar 2010
Posts: 16176
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| Posted: Sat Nov 17, 2012 11:22 pm Post subject: |
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| VikeADunn wrote: | | theJ wrote: | | Totty wrote: | | VikeADunn wrote: | Nice to see unions contributing to the greater good for once.....
oh wait |
Slow your role VAD. The bakers in that union were fighting to keep their pensions and health care. |
Well, the other side of the coin is that now they won't have pensions, health care or a salary. |
Increasing pension and medical costs was the reason Hostess filed for bankruptcy and considered liquidation in the first place. Hostess didn't have the money to keep paying those benefits at their current level (at least this is what they claim). |
| Quote: | | "As the company was preparing to file for bankruptcy earlier this year, the then CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000) and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256." |
They had the money for the pensions and health insurance. They just chose to give huge raises to the top earners at the companies to try to break their union and/or get out from the obligation of having to pay the agreed-to level of compensation to their (factory) workers.
http://politix.topix.com/homepage/3442-unions-hostess-ceo-received-300-raise-before-bankruptcy |
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NextBigThing
Joined: 26 Oct 2009
Posts: 15886
Location: Tuck Rule FTW
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| Posted: Sun Nov 18, 2012 12:36 am Post subject: |
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Everything in excess is bad. That includes unions, which were designed to fight against employees having power in....excess.
I dont know the details about this one. But I do know unions are usually not totally innocent in this kind of stuff.
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Shorty McFast
Joined: 27 Apr 2011
Posts: 745
Location: At the desk
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| Posted: Sun Nov 18, 2012 12:58 am Post subject: |
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| mcmurtry86 wrote: | | They had the money for the pensions and health insurance. |
Hostess has NO money. They are negative about $1 billion.
I'm not getting into the argument about who's at fault (there's plenty to go around IMO). |
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NextBigThing
Joined: 26 Oct 2009
Posts: 15886
Location: Tuck Rule FTW
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| Posted: Sun Nov 18, 2012 1:11 am Post subject: |
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We're all at fault, for only buying two boxes of Twinkees when we should have bought four.
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The King Does As He Pleases
| NFLfan511 wrote: | | NBT, I made an account here just because of you. |
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JammerHammer21
Joined: 27 Dec 2009
Posts: 18032
Location: Anywhere
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| Posted: Sun Nov 18, 2012 1:16 am Post subject: |
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| NextBigThing wrote: | | We're all at fault, for only buying two boxes of Twinkees when we should have bought four. |
Four?
More like 10.
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TheVillain112
Joined: 19 Feb 2010
Posts: 12442
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| Posted: Sun Nov 18, 2012 1:44 am Post subject: |
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This is why pensions should be abolished. As should most unions...
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Thanks Rammy... |
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niner530
Joined: 16 Sep 2008
Posts: 526
Location: Yuba City, CA
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Gmen4ev
Joined: 07 Sep 2009
Posts: 16499
Location: In west Philadelphia born and raised
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NextBigThing
Joined: 26 Oct 2009
Posts: 15886
Location: Tuck Rule FTW
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| Posted: Sun Nov 18, 2012 3:13 am Post subject: |
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| TheVillain112 wrote: | | This is why pensions should be abolished. As should most unions... |
No no no, none of that. They serve a purpose, but when they have too much power, they - like everything pretty much - do more harm than good. That seems to have been the case here.
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The King Does As He Pleases
| NFLfan511 wrote: | | NBT, I made an account here just because of you. |
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LionsFTW
Joined: 25 Jan 2010
Posts: 17034
Location: Rock City, Arkansas
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| Posted: Sun Nov 18, 2012 3:16 am Post subject: |
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As long as Reese's is still doing well....
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