I just bought some and put them in the freezer
NO more Twinkies? Damn, That was my Armageddon food.
by wha happened? 28 Replies latest social entertainment
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BizzyBee
Formaldehyde? Yummmm....
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talesin
Some insider will buy the assets, re-open as non-union.
I don't eat that stuff, never liked artificial food, but this is the sad part. Someone I know just found out he has no job because of this, and only a few years away from retirement. Thousands of people are now unemployed, and yes, production will probably start up with non union workers ,,,, better for profits, huh?
In a corporatocracy, all that matters to the 'Preferred Shareholders' is the bottom line.
Greed - that's what's why people are starving - that's why there are no jobs - plain and simple.
The same thing happened here last year - Hershey closed down the plant and moved to Mexico. To hell with the loyal workers that had been with the company for decades - profits, that's all that matters.
t
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wha happened?
Hmmmm, sounds like another corporation we're all familiar with
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Hortensia
http://www.amazon.com/exec/obidos/ASIN/B0009R59QY/leitesculinari
http://leitesculinaria.com/71100/recipes-homemade-twinkies.htmlLinks for a Twinkie baking mold and copycat recipe. Actually all you need is any sponge cake recipe and some heavy cream whipped until it is thick and stiff. I think the baking mold is obligatory, however.
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Hortensia
Talesin, besides 18,500 people out of jobs, I read that the company owes it's pension fund $994 million. So not only are they out of a job, they have no retirement benefits as it was an unsecured loan to the company.
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talesin
Yah, and I just read on another thread that the CEO got a 300% raise this year.........
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JeffT
I just googled the salary issue. The only thing I could find from what I would consider a reliable source (all the others were commentary and blogs) was a report in the WSJ that some of the creditors are alleging that some of the executive compensation was changed from performance incentives to salary.
Two things to note:
This is an allegation, not a fact.
If true it was an attempt to sidestep the bankruptcy regulations and they will have to pay it back.
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ÁrbolesdeArabia
http://alaskapride.blogspot.com/2012/11/union-plays-chicken-with-hostess-costs.html
The payrate for most bakers is close to $12 an hour or $24-29k per year, that's poverty wages!
" BCTGM members are well aware that 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"
"I saw the news coverage a guy holding a sign making $29,000! In 2012 that is a disgrace. I do not blame the worker for saying I can not take another hit, I have no golden parachute, I have not a pension but a 401K (worthless), I dont have lobbyiest or lawyers I've got kids to feed."
http://www.nbcnews.com/business/relax-twinkies-likely-live-1C7121954 I agree with this article, we will have Twinkies even though they are selling (supposedly on Ebay for $40-$60 a box, I think it's a spoof bid) for ten times on Ebay, how funny!
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"In an interview with CNBC, the CEO laid the lion's share of the blame at the feet of the striking union. However, he acknowledged that management missteps, particularly ones that saddled the company with debt when it last emerged from bankruptcy after more than four years of restructuring in 2009, also contributed to the company's current situation."
Despite the company's tough talk, though, Hostess still needs to get permission to liquidate from Judge Robert Drain, who is overseeing its Chapter 11 restructuring. An interim hearing is scheduled for Monday afternoon and a final hearing is scheduled for Nov. 29"
How management of troubled companies will tear their companies into shredds with outrageous payrates for no valued added for the company. This comes from a Blog, but it's every common for Vulture Capital to liquidate cash to pay for some hack to walk in their doors. When you think about how bad those Union Workers are, remember management have sucked the filling out of the financial coffiers when they should be taking a pay hit too.