Hostess is going out of business

:( Sorry Americans but you're gonna have to have them shitty versions of twinkies now. Just like here in the UK there is shitty versions of Jafa Cakes but the good company isn't out of business yet.
 
DrMuttonstache said:
gg twinkies and ho hos.

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didnt they tell us this last year?
 
And its because the workers refused to take a 8% pay cut. The Teamsters Union Representatives went to them and said 'look, we've seen the books, this is the real deal. They are going to shut their doors if you refuse' And...they still refused. And they were set to be slightly above their current pay rates in 4 years with small increases after the initial cut. So instead of taking a slight reduction in pay temporarily, they chose to not have jobs at all. Makes sense, right? Some of them were even operating under the logic of 'its the principle of the matter' - the cut itself wasnt that important to them. I dont know about you guys, but Id rather take a pay cut than not have a job. As a matter of fact, I did just that in 2010.
 
I kind of want to go to Walmart and see if there a bunch of large people in sweatpants running for the hostess isle, sweating profusely with a look of panic... 'Murica!! Seriously though.. Sad day :-(
 
They're selling the brands, so we're just going to have another company making our twinkies from now on. Not even that big a deal for the consumer.
 
Dave the Manly said:
They're selling the brands, so we're just going to have another company making our twinkies from now on. Not even that big a deal for the consumer.
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Yes, but the Brand Name and the formula and procedure are different things. It remains to be seen whether or not they are the same quality product. I imagine it would be; since their quality and tastiness isnt whats putting them out of business. But you never know....
 
agent00kevin said:
Yes, but the Brand Name and the formula and procedure are different things. It remains to be seen whether or not they are the same quality product. I imagine it would be; since their quality and tastiness isnt whats putting them out of business. But you never know....
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I really hope they taste the same, I haven't been able to find a different brand of twinkie that tastes the same to me as hostess
 
agent00kevin said:
And its because the workers refused to take a 8% pay cut. The Teamsters Union Representatives went to them and said 'look, we've seen the books, this is the real deal. They are going to shut their doors if you refuse' And...they still refused. And they were set to be slightly above their current pay rates in 4 years with small increases after the initial cut. So instead of taking a slight reduction in pay temporarily, they chose to not have jobs at all. Makes sense, right? Some of them were even operating under the logic of 'its the principle of the matter' - the cut itself wasnt that important to them. I dont know about you guys, but Id rather take a pay cut than not have a job. As a matter of fact, I did just that in 2010.
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Granted the workers played their role in not accepting certain terms, but just doesn't fall on them alone. The company was cutting off pension payments. I don't know about you but I work for my pension and contribute money to it and if the State just decided one day to stop paying it out after I had put all the money in... I would not be able to retire after putting my 20-30 years in. I am covered by a union being a State employee and sometimes they are idiots, but they recognize when to give in. We worked furlough days (which is essentially working and not getting paid) also working 80hrs every two weeks and getting paid for 78 the year before and so forth. I do find it quite interesting that the CEO took a 300% pay raise in July....
.:suspicious:

Hostess pay raises approved in late July.

Brian Driscoll, CEO, around $750,000 to $2,550,000.
Gary Wandschneider, EVP, $500,000 t
o $900,000.
John Stewart, EVP, $400,000 to $700,000.
David Loeser, EVP, $375,000 to $656,256.
Kent Magill, EVP, $375,000 to $656,256.
Richard Seban, EVP, $375,000 to $656,256.
John Akeson, SVP, $300,000 to $480,000.
Steven Birgfeld, SVP, $240,000 to $360,000.
Martha Ross, SVP, $240,000 to $360,000.
Rob Kissick, SVP, $182,000 to $273,008.

 
bigshula said:
Granted the workers played their role in not accepting certain terms, but just doesn't fall on them alone. The company was cutting off pension payments. I don't know about you but I work for my pension and contribute money to it and if the State just decided one day to stop paying it out after I had put all the money in... I would not be able to retire after putting my 20-30 years in. I am covered by a union being a State employee and sometimes they are idiots, but they recognize when to give in. We worked furlough days (which is essentially working and not getting paid) also working 80hrs every two weeks and getting paid for 78 the year before and so forth. I do find it quite interesting that the CEO took a 300% pay raise in July....
.:suspicious:

Hostess pay raises approved in late July.

Brian Driscoll, CEO, around $750,000 to $2,550,000.
Gary Wandschneider, EVP, $500,000 t
o $900,000.
John Stewart, EVP, $400,000 to $700,000.
David Loeser, EVP, $375,000 to $656,256.
Kent Magill, EVP, $375,000 to $656,256.
Richard Seban, EVP, $375,000 to $656,256.
John Akeson, SVP, $300,000 to $480,000.
Steven Birgfeld, SVP, $240,000 to $360,000.
Martha Ross, SVP, $240,000 to $360,000.
Rob Kissick, SVP, $182,000 to $273,008.
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As I like to be informed about what Im talking about before doing so, can you please link me to your source? I would certainly like to verify that upper management took such chunky raises while cutting the workers' pay.
 
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