1. Why the company was able to increase the salaries to upper management if profit margins were so thin?
2. Why the company needs judge’s permission to close? What if judge decides that they need to continue their operation. What then?
Not trying to be a smart azz – just really trying to figure those things out.
Oh no, it looks like the Obama worshipers will have to buy Little Debbies cakes with their foodstamps instead! :-o
Because they need smart management to restore the company to profitability. Whether it seems right or not, management salaries are a drop in the bucket compared to the salaries of 18,000 workers.
These people in this type of union are virtually unskilled anyway. Why aren't they minimum wage? They generally don't have anything but a diploma from high school, if that.
It doesn't mattter anyway.......These jobs are going to Mexico, the Americans didn't want them. They should be ineligible for unemployment.
1. The previous CEO raised salaries, got it approved by the judge and left the company for Diamond. The current CEO is a restructuring Officer placed in the interim CEO position until the bankruptcy is over. He reversed the salary raises and dropped the top four executives to one dollar a year until Dec. 31st or the bankruptcy is over.
2. A business as sizeable as hostess cannot make dramatic changes without arbitration by a judge during a bankruptcy debt restructure. Too many people are owed money by Hostess to just walk away without a judge's permission. Their largest unsecured debt, of many, is 732 million. You don't get to run without a judge figuring out how to get these folks their money. They can't be forced to stay open if they don't have the money to pay anyone. It would be forcing them to go further into debt without a means of getting out.
1) Because they didn't.
2) They don't need permission to go out of business, that's not really accurate. The judge can't tell them they have to stay in business.
The hearing is about the bankruptcy filing. It's a bit more complicated than this but for simplicity's sake bankruptcy protection essentially writes off whatever debts the business doesn't have the means to pay either directly or by liquidating it's assets. The hearing is mostly to determine each creditors place in line to get paid with whatever the business has left. It's a big deal because usually unless you're one of the first couple in line you're never going to see a dime.
The unions killed Twinkie. Read fresh political commentary at: http://smallcraftadvisorychronicles.blogspot.com/
Someone should talk about union officials salaries. They make millions off of their members. These are the real parasites. I was in a union for 17 years and saw this 1st hand. They don't care about the worker. They care in as much as this is about money in their koffers and strength at the polls.
The happiest person in America today: Little Debbie.
Hostess needs to file Chapter 11. If hostess was debt free, had no contract with Unions, etc, then they would not need a judge. However, if you are debt free you don't file for bankruptcy. Also even if they were debt free, they have a contract with a Union, to which they cannot break without being in breach. So only a court can resolve the contract if the two parties do not mutually agree to do so.
On a side note to all of you trying to politicizes this - Liberals, Conservatives, Obama, Bush, Palin, Muslim Brotherhood, et al, have nothing to do with this.
How would you like to be the 70% that's not in the union. I bet they would take a $2.00 an hour pay cut to keep their jobs. Any company has to have salery employes to pay the bills and make the decisions. It is the stockholders that make the final decision to shut down a company. If there is no profit they will sell everything including the building and property to recoup their investments.
4800 people =30%
Their stubborness and faith towards their union = 25% cut in and a 26 week vacation....
then their fired and most likely let go by the union by then.
United States: Percent of athiests, agnostic, anti-Christian moral people in the US = 30%
I had a problem with that judges permission to shutter issue also.
Hostess needs to do an organized bankruptcy and then move to right to work states and do it without the stupid union work rules which are just to bring in more union dues. If the unions cared about the workers this strike would never have happened. Hostess will never survive with the union monkey on it's back.
What a shame the unions spent $300 million on Obamas re-election. They could go down to the auction and and compete with all the other bidders and buy the company. That's about 6,000 union jobs and then they could have required the other 12,000 non union memebers to sign up to keep their jobs. This is why you have wage & salery employees. Those 12,000 non-union folks have been saving $100.00 a month over the 30% union that pat dues to go to the Democratic party.
How about some real reporting and real information regarding the wage and benefit concessions already provided to the company rather than the expected anti-union slant. Information regarding salary increases, executive bonuses, stock dividends and the like would also provide a clearer picture on where proportional blame belongs. The products they make are garbage, but obviously some people eat them.
Supply and demand requires paying more to manage a failing company. These managers likely saw their jobs as temporary jobs. Their backs were to the wall with the unions and failure was imminent. I run a small business and I need to be flexible so I can adjust to the market. Unions eliminates flexibility. For years you may be able to afford the added expenses but one day, when times are different you may be toast.
their highest paid CEO made 2,000,000 last year.....Those 18000 workers made 720,000,000 that means the CEO made less than 1/3 of 1% of the what the employee made.
These union workers quit their jobs they should be able to collect unemployment as they quit....and took the comapny down with them.....for their inability to even remotely grasp the concept of graditude I hope they get a true life lesson via a nice long stretch in poverty.
Ding Dong the Twinkies' dead!
Killed by the Unions
Shot in the Head
Ding Dong the Union Twinkies dead!
Hi ho, oh merry oh,
The Twinkies headed south,
Down to Mexico!
Does anyone have any video links to the Union members crying about being unemployed. That would make my weekend a very happy one.
Why on earth would a Judge rule that a private business stay in business if they don't want to. That's like saying you should sell lemonade in the front of your house cause the poor people are thirsty.
at Raging_Waters: Very good point! Unfortunately they are already spending their food stamp money on Little Debbies and wash it down with tons of soda. Then they complain they don't get enough money for food and that it costs too much to eat healthy. Have they ever checked the price on a bag of apples or carrots? Of course we are also paying for their diabetes and cholesterol meds. Later we get to pay for their open heart surgery or nursing home stay after a stroke. Time for personal responsibility.
This video of an Indianapolis employee confronting the Hostess strikers in Indianapolis gets me every time!
November 20, 2012 at 7:50pm
So what if I shove my genitals in her face, would she consider that normal. I mean, I did not mean to disrespect her…
October 24, 2012 at 10:43am
Oops! I meant to say “Very well put sir!”
October 24, 2012 at 10:25am
I am from USSR.
Razvedka means recon.
October 24, 2012 at 9:37am
Very we put sir! I could not have said it better.
I have the right to express myself (or I thought I had it), so no one can tell me to tolerate or “like” other race or other people.
Look, I strongly dislike American black people for what they do to our country. NOTE: I said American blacks. Seems to me (from my experience and interactions) that black people from other parts of the world are much more friendly and likable and do not have that attitude of blacks in America.
I also strongly dislike some white people.
I hate muslims because I have personal history with them. They are the reason my family and I had to leave our home and run away. Otherwise we would be murdered, as many of my people were.
Thanks to USA for taking us in.
Disclaimer: We are immigrated legally in 1991. We are naturalized citizens. We were never on welfare. The biggest crime that any of us committed was speeding.
August 7, 2012 at 11:16am
In BOLT we trust! LOL
As a naturalized citizen, I would have done the same for any country’s anthem.
Usually I am not big on what athletes or celebrities do but Bolt has my respect.
July 18, 2012 at 1:47pm
What if she decided to climb a public tree in her scooter?
Would she sue the city when she falls?
I mean she should be able to climb trees in her scooter right?
Or city should place warning signs next to every tree?
Where did the common sense go?
July 17, 2012 at 1:10pm
I don’t know about this one.
If you point a gun on me, I have the right to shoot to kill.
Even if it means to chase you down.
Once you cross that line there should not be way back.
As far as I see, once they point a gun at someone, they stopped being human beings. In my eyes they are insects. I feel no sorrow for insects.
I know what would many people say: Oh that’s cruel or whatever. But if I let him/them go and the next day they kill someone in your family, you would sing a different tune.
Just my 2c.
July 17, 2012 at 1:05pm
What do you think, how many of the people who were there would go and buy guns? I bet all of them! Got mine.45 and CC!
Nice going Grandpa! Too bad it wasn’t two head shots, otherwise I loved what I’ve seen!
July 16, 2012 at 7:45pm
He is white.
July 13, 2012 at 12:56am
They really need to take a GOOD look at definition of racist in dictionary. They have been throwing it around like its nothing. All they do is just create some label and throw it at us without much thinking. How is it that word 0bamacare is racist? I just don’t understand – how? What is racist? Maybe someone can explain it to me – I am lost.
Also, what is the role of NAACP? Really, what do they do? I could understand the creation of that organization in 1902 is it? But now – what do they do???
July 10, 2012 at 9:34pm
WOW! This was like political pornography! I just got a hard-on!
That’s some good stuff right there!
I did not know we had such outspoken Republicans.
Hello. Just curious, what would those people do if I went there with an American flag and start chanting “USA! USA!” or something in that nature. Do you think I would make it out if there in one piece?
On the other hand, I realize that they have the freedom of speech (as much as cringe when I hear what they have to say).
Freedom of speech is one thing, but when these animals become violent, that’s entirely different story. They do not have freedom to burn and damage public property (I think last time I checked they did not).
July 4, 2012 at 10:16pm
This article is invalid.
As of today July 4th, 10:15PM Eastern time I can Google ammo and guns under Shopping section of Google. Search returns plenty of results.
That may be true - I wouldn't know because I'm not going to make the effort to give them ONE CLICK; however, I do know they collect all info on all your travels via google, and they are very open to sharing that info with the US Gobblement for the most trivial of reasons -
Patrick Ewing (retired basketball player) looks like gorilla.
GW Bush (former president) looks like a chimp.
Does that make me a racist?
May 30, 2012 at 4:09pm
If they could only channel all that effort and energy in learning real skills, they would not have time for this BS. What a brainless bunch of individuals (collective?)
Hey! I got better curriculum. For starters:
Education – light, no education – darkness.
May 1, 2012 at 12:37pm
It is just amazing what some poeple think.
OK so let’s suppose you destroyed that bridge, then why stop there?
Let’s destroy the whole city, then why stop there?
Let’s destroy the whole country.
I am just truly stumbled here. What then?
Is that where their thought process comes to an end?
Fawking low-brow knuckle dragging morons.
fawkes is right, and they should be treated just like he was when he was caught trying to blow up parliment.
May 1, 2012 at 12:27pm
April 24, 2012 at 1:29pm
Got my LTC a couple of month ago.
Got my Ruger .45 last week along with hollow point ammo and some regular FMJ
Got gold and silver.
Will be getting a shotgun soon.
Will be defending my family and my neighborhood to the death if it comes to that.
I do not have “white guilt” – never had.
Started following politics closely back in 2008, when I heard Ron Paul speak.
Did some research on what he is talking about.
He was right on everything he predicted.
If he or a person with the same ideas is not elected to be the president, we will fail as a nation.
A lot of people say “we are equal”. I say What?
We are not equal. We are not even equal within the same race as White People. We are all different. Some are smarter, some work harder, some are …
We have equal OPPORTUNITIES to become whatever we want, but you cannot say we are equal.
I sure as hell do not consider myself an equal with a lazy-azz-wellfare-receiving-oprah-watching ********.
Equal? Think again.