11 total posts
Perhaps we'll see Twinkie knock offs?
A guy will open wide his trench coat and, instead of Rolex watches,....
I like this idea, Steve. Rob
Bound to be sold
The news offered that Twinkies made $60M for the company, so its bound to be brought as part or parcel of that product alone. It will remain as it was, keeping with the same formula as it were in order to be sold under some other name or label. maybe Dolly Madison will step in or provide their version more of. No sugar or lard rush for me. adios -----Willy
Other Side of the Story: Vulture Capitalism ate your Twinkie
""When a highly respected financial consultant, hired by Hostess, determined earlier this year that the company's business plan to exit bankruptcy was guaranteed to fail because it left the company with unsustainable debt levels, our members knew that the massive wage and benefit concessions the company was demanding would go straight to Wall Street investors and not back into the company," recalled BCTGM president Frank Hunt, who described why the union struck Hostess rather than accept a demand from management for more pay and benefit cuts."
Naturally the Capital firm wished to dissemble and lie and camouflage the fact that they, and not the unions, were ruining the firm. After all what is the good of having a reputation for destroying companies when you are trying to get others to hire you or are letting others buy it out only in order to wreck it. Gordon Gekko is alive and well, and still living on Wall Street.
do you understand what you read?
Did you even ask yourself why they were in bankruptcy court in the first place? Buying companies out of bankruptcy is like buying a used car at the junk yard. Will you be the lucky one? Or did you get a real junker that could still manage to get you far enough down the road they could make some money on the tow back?
Except the car at the junk yard
probably doesn't have an extensive record of all it's maintainence, damages, useage, etc.
The corporation under bankruptcy would have to disclose all it's records to any potential buyer.
Isn't that what Bain did?
See what good people they really were! Trying to save or salvage companies.
Such good Samaritans
and it could be nothing would save it
and that is why the plan was deemed unsalvageable.
In that case, the question is how much did the workers lose by striking now and closing with a chance of getting some of their benefits continued, such as under COBRA for 18 months at their expense. Or would it have been long enough working under the new rules to make more? Don't forget, if they agree to cut health benefits, and then it closes, their COBRA will be under the new lower level of coverage. The same could apply to retirement and servence packages.
IF and that's a big if,it was doomed to fail anyway, which way cost them more?