Hostess Brands Says It Will Liquidate

[garbon]

Twinkies and valium?

Sutafed.

Wal-Phed!

[katmai]

When the employees are willing to take a drastic pay-cut with even more drastic cuts to benefits in order to at least have a job but the union won't let them, well, yeah, I blame the union.

5,000 employees spread out over multiple states out of 18,000+ employees does not break a company: the "private equity" firm that came in after Hostess' leadership hauled ass and filed does.
An 8% salary cut, cutting healthcare and retirement contributions?  On top of the concessions from the last time?

But no, management still gets theirs:

he company is also seeking permission to pay a group of 19 managers bonuses ranging from 25% to 75% of their annual base compensation. Those payments would total up to $1.75 million, the company said. In addition, it wants to pay 3,200 employees bonuses equal to 25% of what they will earn from Friday until their wind-down-related duties are completed. Those payments would total $4.36 million.

19 managers share $1.75M.  But they need 8% salary cut.  You should've voted for Romney, after all; you support the model.  Sucker.

I you.

In a completely prison way.

[Neil]

When the employees are willing to take a drastic pay-cut with even more drastic cuts to benefits in order to at least have a job but the union won't let them, well, yeah, I blame the union.

5,000 employees spread out over multiple states out of 18,000+ employees does not break a company: the "private equity" firm that came in after Hostess' leadership hauled ass and filed does.
An 8% salary cut, cutting healthcare and retirement contributions?  On top of the concessions from the last time?

But no, management still gets theirs:

he company is also seeking permission to pay a group of 19 managers bonuses ranging from 25% to 75% of their annual base compensation. Those payments would total up to $1.75 million, the company said. In addition, it wants to pay 3,200 employees bonuses equal to 25% of what they will earn from Friday until their wind-down-related duties are completed. Those payments would total $4.36 million.

19 managers share $1.75M.  But they need 8% salary cut.  You should've voted for Romney, after all; you support the model.  Sucker.

Damn.  When are you going to get a job and stop it with all the crybaby shit?  If you envy management so much, just get your MBA.

[Tonitrus]

There's probably a fair chance someone will buy up the rights to the more marketable products.

[Barrister]

There's probably a fair chance someone will buy up the rights to the more marketable products.

...and move production to a right-to-work state.

Twinkies will live again.  These jobs, however, will not.

[garbon]

When the employees are willing to take a drastic pay-cut with even more drastic cuts to benefits in order to at least have a job but the union won't let them, well, yeah, I blame the union.

5,000 employees spread out over multiple states out of 18,000+ employees does not break a company: the "private equity" firm that came in after Hostess' leadership hauled ass and filed does.
An 8% salary cut, cutting healthcare and retirement contributions?  On top of the concessions from the last time?

More than a quarter of employees striking at a beleaguered company isn't a substantial issue?

[Barrister]

When the employees are willing to take a drastic pay-cut with even more drastic cuts to benefits in order to at least have a job but the union won't let them, well, yeah, I blame the union.

5,000 employees spread out over multiple states out of 18,000+ employees does not break a company: the "private equity" firm that came in after Hostess' leadership hauled ass and filed does.
An 8% salary cut, cutting healthcare and retirement contributions?  On top of the concessions from the last time?

More than a quarter of employees striking at a beleaguered company isn't a substantial issue?

Especially when the workers in question are bakers working for a baked goods company?

[merithyn]

There's probably a fair chance someone will buy up the rights to the more marketable products.

...and move production to a right-to-work state.

Twinkies will live again.  These jobs, however, will not.

Isn't Illinois a right-to-work state?

[Barrister]

There's probably a fair chance someone will buy up the rights to the more marketable products.

...and move production to a right-to-work state.

Twinkies will live again.  These jobs, however, will not.

Isn't Illinois a right-to-work state?

Apparently not.

http://www.nrtw.org/rtws.htm

[DGuller]

Why are anti-union states called "right to work" states?  Is this one of those Orwellian terms Republicans like to come up with?

[garbon]

Why are anti-union states called "right to work" states?  Is this one of those Orwellian terms Republicans like to come up with?

Because not being forced to join a union is rather terrible.

[Admiral Yi]

Why are anti-union states called "right to work" states?  Is this one of those Orwellian terms Republicans like to come up with?

Unlike, say, anti-union, which is so neutral and accurate.

[dps]

In this case, it's the truth. The employees were ready to deal months ago, but the union refused to do it. Now, the union is throwing Hostess down the river in order to protect their interests elsewhere.

They started the strike in November.  The company filed for Chapter 11 in January.  Hostess had a lot more systemic issues in its model than the Teamsters.

The problem wasn't the Teamsters--they had settled with them.

If the actual employees wanted to deal, but the union didn't, the employees probably should have decertified them.  But I guess that, unlike, say, NBA players, Hostess employees didn't have anyone besides the union leadership to give them advice.

[The Brain]

Why do people join unions?

[Ed Anger]

People are paying 60 bucks on eBay for a box of twinkies.

http://abcnews.go.com/Business/hostess-twinkies-sell-60-box-ebay/t/story?id=17739110