| The Hostess Liquidation: A Curious Cast Of Characters As The Twinkie Tumbles | |
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| Tweet Topic Started: Nov 16 2012, 08:59 PM (462 Views) | |
| LTC8K6 | Nov 16 2012, 08:59 PM Post #1 |
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Assistant to The Devil Himself
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Quite a story around this company and it's financial troubles...and the cast of characters therein... http://www.zerohedge.com/news/2012-11-16/hostess-liquidation-curious-cast-characters-twinkie-tumbles |
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| kbp | Nov 16 2012, 09:37 PM Post #2 |
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...The Great Recession hurt many consumer brands generally, and the prices of the commodities that Hostess relied on -- corn, sugar, flour -- went up, which is the opposite of what's supposed to happen in a downturn. I merely quote that to show what biofuel crops do in a recession ...if the government mandates that they be used. Good luck to the poor, the ones with less, if any, disposable income to buy Twinkies with. Hostess was upside down when it came out of the last bankruptcy. The bakers union should have taken anything they could get! Interesting story on the projected outcome for those holding the debt. It would be entirely wrong if Barry stepped in and pulled a "GM" on them! |
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| kbp | Nov 29 2012, 10:41 AM Post #3 |
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Hostess Bakery plants shut down Monday (Nov 26), the result of a union strike idling some 18,000 workers. The Obama administration will hire most all of these displaced employees: The State Department will hire the Twinkies, The Secret Service the Ho Ho’s, The Generals will sleep with the Cupcakes, and all The Ding Dongs are going to Congress. |
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| Kerri P. | Nov 29 2012, 11:21 AM Post #4 |
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| Mason | Nov 29 2012, 01:13 PM Post #5 |
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Parts unknown
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. Hostess Liquidation? Sounds like a Teddy Kennedy / Chris Dodd attack on a Waitress. .. |
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| kbp | Nov 29 2012, 01:29 PM Post #6 |
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Here's the response I gave to the person that emailed me the joke: I truly had expected Obama to step in with another "GM" plan: where secured debt holders only get their "fair share" after the UN-secured debt obligations held by the unions is rewarded with federal funds …a new precedent for bankruptcy laws, though the courts still can't figure out how to make it all legal. Knowing of the billions spent on the green market Volt (the car that sells well to government departments) by GM since then and projected over the next 5 years, it would not have surprised me to next have witnessed Michelle introducing new recipes and Barry mandating that ALL schools serve Hostess for lunch. (I actually believed Barry would bail Hostess out) |
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| Baldo | Feb 5 2013, 04:05 PM Post #7 |
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Twinkies Union Issues Ultimatum: We Get Our Jobs Back Or The Company Gets It Again Following a brief infomercial for Gordian Group's apparent skills in bringing dough-makers and yeast-cooking perfection to the table - arguing that they are here to preserve jobs (for skilled workers who have been apparently working for below-market wages) - and maximizing value for the Bakery Union; Peter Kaufman stops the pretense of helping and goes straight for the threat. "We are here to work with credible bidders to get started right away with a great work-force; on the other hand, if bidders don't want to work with us (and re-hire Hostess employees), the union will ask the AFL-CIO to put any Hostess product on its 'boycott product' list." But "we're here to help," he reminds the somewhat stunned CNBC anchor. It seems beggars are once again choosers... as the entitled roll on. Of course, far be it from us to point out the incredible irony that it was the labor union's unwillingness to negotiate that forced the company to run out of cash; and now that same union, that effectively blew up their employer, demands to have jobs restored as if nothing happened, and likely with the same (apparently higher comp) demands entitlements as before...snipped http://www.zerohedge.com/news/2013-02-05/twinkies-union-issues-ultimatum-we-get-our-jobs-back-or-company-gets-it-again Video at Site Well that ought to make the bankrupt Hostess Company more valuable and attract more bidders
Edited by Baldo, Feb 5 2013, 04:31 PM.
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| kbp | Feb 5 2013, 09:12 PM Post #8 |
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| Baldo | Mar 12 2013, 06:44 PM Post #9 |
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Hostess Picks Apollo-Led Group as New Owner of Twinkies Months after the last Twinkie rolled off the assembly lines at Hostess Brands, the cream-filled legend appears set for a revival. Hostess said on Tuesday that it had picked a partnership of two investment firms, Apollo Global Management and Metropoulos & Company, as the new owner of its snack cake business, officially concluding the sale of the bankrupt baker’s most prized assets. Apollo and Metropoulos bid $410 million for the Hostess brands, the company said. It added that it received no other “qualified” bids for the brands, which also include Ho Hos, Ding Dongs and the Dolly Madison line of products. “It was great to get pricing that we got,” Gregory F. Rayburn, Hostess’ chief executive, told DealBook in a telephone interview. He added that while over 100 parties had expressed interest in the company’s snack cake business, none ultimately made an offer that topped the bid by Apollo and Metropoulos. When the private equity firms were the only bid standing by 5 p.m. on Monday, Mr. Rayburn said, the company and its advisers decided to call off an auction scheduled for Wednesday morning......snipped http://www.businessweek.com/articles/2012-12-06/how-much-is-a-twinkie-wort I have no idea whether that was a good bid or not, but only one bidder isn't a stampede |
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| LTC8K6 | Mar 13 2013, 06:06 AM Post #10 |
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Assistant to The Devil Himself
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http://www.nbcnews.com/business/new-owners-hope-have-twinkies-stores-soon-1C8824840
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