Twinkies are back will employ 1500

[jon_berzerk]

No union allowed

The company that bought the Twinkie, HoHo and Ding Dong brands out of bankruptcy is gearing up to reopen plants and hire workers, but it won’t be using union labor.

Hostess Brands — Metropoulos & Co. and Apollo Global Management’s APO -0.58% new incarnation of the baking company that liquidated in Chapter 11 — is reopening four bakeries in the next eight to 10 weeks, aiming to get Twinkie-deprived consumers the classic snack cake starting in July.

Chief Executive C. Dean Metropoulos said the company will pump $60 million in capital investments into the plants between now and September and aims to hire at least 1,500 workers. But they won’t be represented by unions, including the one whose nationwide strike sparked the 86-year-old company’s decision to shut down in November.

New Twinkie Maker Shuns Union Labor - MoneyBeat - WSJ

 

[Esmeralda]

Good God, Twnkies are that popular? This just says something wierd about the United States.

 

[jon_berzerk]

Good God, Twnkies are that popular? This just says something wierd about the United States.

twinkies and hohos have always been popular

--LOL

 

[Mr. H.]

And Ding Dongs.

 

[jon_berzerk]

And Ding Dongs.

exactly

 

[Skull Pilot]

Does anyone older than 6 eat those things?

 

[jon_berzerk]

Does anyone older than 6 eat those things?

yes

to each his own

 

[JoeB131]

No union allowed

The company that bought the Twinkie, HoHo and Ding Dong brands out of bankruptcy is gearing up to reopen plants and hire workers, but it won’t be using union labor.

Hostess Brands — Metropoulos & Co. and Apollo Global Management’s APO -0.58% new incarnation of the baking company that liquidated in Chapter 11 — is reopening four bakeries in the next eight to 10 weeks, aiming to get Twinkie-deprived consumers the classic snack cake starting in July.

Chief Executive C. Dean Metropoulos said the company will pump $60 million in capital investments into the plants between now and September and aims to hire at least 1,500 workers. But they won’t be represented by unions, including the one whose nationwide strike sparked the 86-year-old company’s decision to shut down in November.

New Twinkie Maker Shuns Union Labor - MoneyBeat - WSJ

Again, the hedge fund looted the company and sold off the assets.

Goodfellas Capitalism.

[ame=http://www.youtube.com/watch?v=ZPtjyqgZAUk]Goodfellas Restaurant Scene - YouTube[/ame]

 

[jon_berzerk]

No union allowed

The company that bought the Twinkie, HoHo and Ding Dong brands out of bankruptcy is gearing up to reopen plants and hire workers, but it won’t be using union labor.

Hostess Brands — Metropoulos & Co. and Apollo Global Management’s APO -0.58% new incarnation of the baking company that liquidated in Chapter 11 — is reopening four bakeries in the next eight to 10 weeks, aiming to get Twinkie-deprived consumers the classic snack cake starting in July.

Chief Executive C. Dean Metropoulos said the company will pump $60 million in capital investments into the plants between now and September and aims to hire at least 1,500 workers. But they won’t be represented by unions, including the one whose nationwide strike sparked the 86-year-old company’s decision to shut down in November.

New Twinkie Maker Shuns Union Labor - MoneyBeat - WSJ

Again, the hedge fund looted the company and sold off the assets.

Goodfellas Capitalism.

[ame=http://www.youtube.com/watch?v=ZPtjyqgZAUk]Goodfellas Restaurant Scene - YouTube[/ame]

agreed a hedge fund run by democrats

 

[JoeB131]

[

Again, the hedge fund looted the company and sold off the assets.

Goodfellas Capitalism.

Goodfellas Restaurant Scene - YouTube

agreed a hedge fund run by democrats

Do you have evidence of that, or are you just making shit up?

Here's the reality. A Hedge fund bough the company. They borrowed a shitload of money to pay investors and demanded the unions take pay cuts, benefit cuts, etc to pay back the loans.

What they didn't do was what htey promised... improved automation, invest in new equipment, and so on. Hostess was just a big fat asset to be looted, which is what they did.

And again, this is how Mitt Romney made his fortune, and people claimed he was a genius.

 

[jon_berzerk]

[

Again, the hedge fund looted the company and sold off the assets.

Goodfellas Capitalism.

Goodfellas Restaurant Scene - YouTube

agreed a hedge fund run by democrats

Do you have evidence of that, or are you just making shit up?

Here's the reality. A Hedge fund bough the company. They borrowed a shitload of money to pay investors and demanded the unions take pay cuts, benefit cuts, etc to pay back the loans.

What they didn't do was what htey promised... improved automation, invest in new equipment, and so on. Hostess was just a big fat asset to be looted, which is what they did.

And again, this is how Mitt Romney made his fortune, and people claimed he was a genius.

The Hostess Liquidation: A Curious Cast Of Characters As The Twinkie Tumbles

Perhaps one of the most interesting aspects of the just announced Hostess liquidation, one that will be largely debated and discussed in the media, or maybe not at all, is the curious cast of characters and the peculiar history of this particular bankruptcy. Some may not be aware that the company's Chapter 11 (or colloquially known as 22) bankruptcy filing this January, which today became a Chapter 7 liquidation, was the second one in the company's recent history, with Hostess, previously Interstate Bakeries, emerging from its previous protracted multi-year bankruptcy in 2009. What is curious is that its emergence had all the drama of a anti-Mitt Romney PAC funded thriller, with a PE firm, in this case Ripplewood holdings, injecting $130 million in order to obtain equity control of Hostess as it was emerging last time. There were also more hedge funds, investment banks, strategic buyers, politicians involved in this particular story than one can shake a deep fried numismatic value Twinkie at. More importantly, however, as America has been habituated following the last season of the reality TV show known as the presidential election, if Private Equity then "bad." Only this time there is a twist: because it wasn't really PE that was the pure evil in the Obama long-term campaign, it was associating PE with Republicans, and thus: with jobs outsourcing. And here comes the Hostess twist: because Tim Collins of Ripplewood, was a prominent Democrat, a position which allowed him to get involved in the first bankruptcy process in the first place, due to his proximity with the Teamsters' long-term heartthrob Dick Gephardt (whose consulting group just happens to also be an equity owner of Hostess). In other words, the traditional republican-cum-PE scapegoating strategy here will be a tough one to pull off since the narrative collapses when considering that it was a Democrat who rescued the firm, only to see it implode in a trainwreck that has resulted in the liquidation of a legendary brand, and 18,500 layoffs.

The Hostess Liquidation: A Curious Cast Of Characters As The Twinkie Tumbles | Zero Hedge

 

[JoeB131]

So you were just making shit up... th ought so.

 

[jon_berzerk]

So you were just making shit up... th ought so.

well with names like Collins and Gephardt

it is pretty hard to blame it on republicans

naw the dems owned that train wreck

 

[JoeB131]

So you were just making shit up... th ought so.

well with names like Collins and Gephardt

it is pretty hard to blame it on republicans

naw the dems owned that train wreck

No, greedy hedge funds did...

The thing is, Republicans seem to think that's an awesome thing to loot companies and destroy good paying jobs.

 

[Skull Pilot]

So you were just making shit up... th ought so.

Just taking a page out of your playbook.

 

[jon_berzerk]

So you were just making shit up... th ought so.

well with names like Collins and Gephardt

it is pretty hard to blame it on republicans

naw the dems owned that train wreck

No, greedy hedge funds did...

The thing is, Republicans seem to think that's an awesome thing to loot companies and destroy good paying jobs.

nope democrat fingerprints all over this one

 

[JoeB131]

So you were just making shit up... th ought so.

Just taking a page out of your playbook.

Your Hero demands you obey!!!