Twinkies going down!

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Submitted by no_such_reality on November 12, 2012 - 5:25pm

Submitted by patb on November 12, 2012 - 6:05pm.

1) Twinkies and HoHo's suck.

2) so what if the Hostess files for bankruptcy. Either the bankers can run the company, or sell them.

3) The real problem is a Romney issue, the baker has a couple billion in debt
and can't service it. Paying debt by screwing the workers isn't a viable busienss model.

Submitted by poorgradstudent on November 12, 2012 - 6:34pm.

I'm pretty sure there would be several potential buyers out there for the Hostess Brand.

Submitted by SK in CV on November 12, 2012 - 7:25pm.

Given the recent election results in Washington and Colorado, this would indeed be bad timing. Surely there is a need to be filled in those states. Who will supply the sno balls?

Submitted by patb on November 12, 2012 - 7:45pm.

little debbie, fig newtons or the people at Dominos

Submitted by desmond on November 13, 2012 - 1:49pm.

I thought twinkies enjoyed going down.

Submitted by SK in CV on November 13, 2012 - 2:39pm.

desmond wrote:
I thought twinkies enjoyed going down.

My brother's college girlfriend was called twinkies. I heard otherwise.

Submitted by UCGal on November 13, 2012 - 4:33pm.

My best friend and I have done blind taste tests PROVING that ding dongs in the foil wrappers (the ones sold in boxes) taste better than ding dongs sold in the 2 packs. This taste test was done 25-30 years ago. May need to update the results.

Just saying.

Note to self - a box of ding dongs, foil wrapped, might make a good funny christmas gift for her.

Submitted by desmond on November 13, 2012 - 6:42pm.

UCGal wrote:
My best friend and I have done blind taste tests PROVING that ding dongs in the foil wrappers (the ones sold in boxes) taste better than ding dongs sold in the 2 packs. This taste test was done 25-30 years ago. May need to update the results.

Just saying.

Note to self - a box of ding dongs, foil wrapped, might make a good funny christmas gift for her.

UC,
I never saw a ding dong not in a foil wrapper, you might have compared the ding dong to the Hostess chocolate cupcakes that were sold in the two pack? As a kid I loved them all and usually got one packed in a lunch for school. The real treat was when a Hostess Pie was in my lunch.

Submitted by UCGal on November 15, 2012 - 9:39am.

desmond wrote:
UCGal wrote:
My best friend and I have done blind taste tests PROVING that ding dongs in the foil wrappers (the ones sold in boxes) taste better than ding dongs sold in the 2 packs. This taste test was done 25-30 years ago. May need to update the results.

Just saying.

Note to self - a box of ding dongs, foil wrapped, might make a good funny christmas gift for her.

UC,
I never saw a ding dong not in a foil wrapper, you might have compared the ding dong to the Hostess chocolate cupcakes that were sold in the two pack? As a kid I loved them all and usually got one packed in a lunch for school. The real treat was when a Hostess Pie was in my lunch.


If you buy the 2 pack that's sold at 7/11 or similar, no foil wrapping. I guess they assume both ding-dongs will be consumed at one time.
Here's an example of a package that would have foil-free ding dongs (which don't taste as good.)
http://www.walgreens.com/store/c/hostess...

Submitted by flu on November 16, 2012 - 7:05am.

Going....going.... gone....

Bye bye 18,500 jobs... No worries, I'm sure there's plenty of better paying jobs out there....Besides, I'm sure people feel these 18,500 jobs are too menial for American people to be doing!

And if not, I'm sure it's ok..There's extended unemployment benefits...And that's ok too. Because someone else is paying for that...

And as far as Hostess brand and assets, I'm sure some company from china will pick them up..I'm sure Foxconn workers can pick up the slack and do it for much cheaper...Besides, all that Melamine has to go somewhere.....

But hey, it's China's fault... Buy American!

http://money.cnn.com/2012/11/16/news/com...

NEW YORK (CNNMoney) -- Hostess Brands -- the maker of such iconic baked goods as Twinkies, Devil Dogs and Wonder Bread -- announced Friday that it is asking a federal bankruptcy court for permission to close its operations, blaming a strike by bakers protesting a new contract imposed on them.

The closing will result in Hostess' nearly 18,500 workers losing their jobs as the company shuts 33 bakeries and 565 distribution centers nationwide. The bakers' union represents around 5,000.

Hostess will move to sell its assets to the highest bidder. That could mean new life for some of its most popular products, which could be scooped up at auction and attached to products from other companies.

"We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike," said CEO Gregory Rayburn in a statement.

The company had given a 5 p.m. ET deadline for the bakers to return to work or face a shutdown of the company. The unions at Hostess could not be reached immediately for comment on the decision.

Hostess filed for bankruptcy in January, its second trip to bankruptcy court since 2004. It previously emerged from restructuring in 2009 after a four-and-a-half year process.

The company is now controlled by a group of investment firms including hedge funds Silver Point Capital and Monarch Alternative Capital.

In September, one of its major unions, the International Brotherhood of Teamsters, voted narrowly to accept a new contract with reduced wages and benefits. The bakers' union rejected the deal, however, prompting Hostess management to secure permission from a bankruptcy court to force a new concession contract on workers.

The new contract cut salaries across the company by 8% in the first year of the five-year agreement. Salaries were then scheduled to bump up 3% in the next three years and 1% in the final year.

Hostess also reduced its pension obligations and its contribution to the employees' health care plan. In exchange, the company offered concessions, including a 25% equity stake for workers and the inclusion of two union representatives on an eight-member board of directors.

Submitted by scaredyclassic on November 16, 2012 - 8:10am.

we are not allowed to have twinkies at our place. so a few years back i illicitly bought a pack. I was going to split it w my middle kid. we were saving it for some reason in the overhead storage compartment int he minivan. no one ever used it. We wereall in the car and for some reason another kid reached for the compartment and unlatched it;randomly; no reason. the twinkies fell out of the compartment.

it was utterly hilarious...

Submitted by svelte on November 16, 2012 - 8:49am.

Hilarious scaredy!

It has been so long since we've had a hostess product in our house I can't recall the last time - probably on the order of 20 years.

It's funny, I can remember in my 20s buying a dozen donuts a few times a year so the 3 of us (me, wife, son) could have 4 each. That sounds so preposterous now that I can't believe we did it. Luckily we kicked that habit before it caught up with us.

Submitted by Aecetia on November 16, 2012 - 12:44pm.

Save the Twinkie: A "talk show host has started an online campaign to prevent the perishing of the notoriously nonperishable spongy snack, which she calls a “golden symbol of the American dream” in her first pro-Twinkie PSA."

http://www.washingtonpost.com/blogs/cele...

Submitted by Diego Mamani on November 16, 2012 - 1:10pm.

Frigging unions... the terms were very reasonable given the circumstances. Even the IBT union agreed to them, but not the bakers' union.

Submitted by KSMountain on November 16, 2012 - 2:37pm.

Just had 2 twinkles as a parting shot. Absolutely delicious. The world is a sadder place without them.

Submitted by doofrat on November 16, 2012 - 3:08pm.

Let me get this straight:

We're in the midst of a really bad recession. High school kids are competing with 50 year old's for jobs.
These guys are making 40K a year (with access to health care and pensions) operating a machine that squirts filling into Twinkies. And they decide this is a good time to strike?!?

Submitted by flu on November 16, 2012 - 4:25pm.

doofrat wrote:
Let me get this straight:

We're in the midst of a really bad recession. High school kids are competing with 50 year old's for jobs.
These guys are making 40K a year (with access to health care and pensions) operating a machine that squirts filling into Twinkies. And they decide this is a good time to strike?!?

It could be worse. You could be living in Long Island without power for 3 weeks...LIPA is state owned by the way.....Oops, did I say that...

http://dailycaller.com/2012/11/03/amid-s...


Amid Sandy’s devastation, Long Island union sent written demand to Florida utilities: Pay dues or stay home....

The Florida Municipal Electric Association is a statewide trade group that represents 34 separate utility companies. The letter, Moline said, was sent to Florida’s nonunion power companies.

“We had crews ready to go on Monday when the storm hit,” he told TheDC. ”We had dozens of line workers ready to go. There have been hundreds of line workers who have been told, ‘We don’t want you unless you’re part of the union.’ And as a result, people in New York and New Jersey are having the power turned on slower than everywhere else.”

“The word we were getting all week was that New York was short by hundreds of [electric] linemen,” he told TheDC. “Well, okay. We’ve got them. Florida is two days away, so you need a head start.”

Of those workers who were ready to drive north, he said, “probably about 25 stayed put” because of the Long Island IBEW local’s demands. “Another 35 were delayed by five days.”

Submitted by Diego Mamani on November 16, 2012 - 4:50pm.

KSMountain wrote:
Just had 2 twinkles as a parting shot. Absolutely delicious. The world is a sadder place without them.
They are not going away. The intellectual property is much too valuable; some company will acquire the rights to the Twinkie name and recipe. Even the Hostess name will likely survive. What will likely not survive are the 18500 jobs killed by this intransigent union.

Submitted by doofrat on November 16, 2012 - 6:00pm.

flu wrote:

It could be worse. You could be living in Long Island without power for 3 weeks...LIPA is state owned by the way.....Oops, did I say that...

http://dailycaller.com/2012/11/03/amid-s...

Wow the arrogance of some unions would be comical if the results weren't so severe. And I thought gouging in the middle of a disaster was illegal.

Submitted by SK in CV on November 16, 2012 - 6:19pm.

KSMountain wrote:
Just had 2 twinkles as a parting shot. Absolutely delicious. The world is a sadder place without them.

Indeed a sadder place. But stoners can rejoice, there is an alternative:

Twinkies
Ingredients
4 egg whites
One 16-ounce box golden pound cake mix
2/3 cup water

Filling
2 teaspoons very hot water
1/4 teaspoon salt
2 cups marshmallow creme (one 7-ounce jar)
1/2 cup shortening
1/3 cup powdered sugar
1/2 teaspoon vanilla

You will need a cream canoe baking pan (or foil and a round spice jar to shape the "canoes"), a cake decorator or pastry bag, and a chopstick.

Preheat oven to 325ºF.

If using the foil: fold each piece of aluminum foil in half twice. Wrap the folded foil around the spice bottle to create a mold. Leave the top of the mold open for pouring in the batter. Make 10 of these molds and arrange them on a cookie sheet or in a shallow pan. Grease the inside of each mold with a light coating of non-stick spray (Pam or Baker's Joy).

Ignore the directions on the box of cake mix. Instead, beat the egg whites until stiff. In a separate bowl combine cake mix with water and beat until thoroughly blended (about 2 minutes). Fold egg whites into the cake batter and slowly combine until completely mixed.

Pour the batter into the molds, filling each one about 3/4 of an inch. Bake in the preheated oven for 30 minutes, or until the cake is golden brown and a toothpick stuck in the center comes out clean.

For the filling, combine salt with the hot water in a small bowl and stir until salt is dissolved. Let this mixture cool. Combine the marshmallow creme, shortening, powdered sugar and vanilla in a medium bowl and mix well with an electric mixer on high speed until fluffy. Add the salt solution to the filling mixture and combine.
When the cakes are done and cooled, use a skewer or chopstick to make three holes in the bottom of each one. Move the stick around inside of each cake to create space for the filling.

Using a cake decorator or pastry bag, inject each cake with filling through all three holes.

SnoBalls
Cakes:
4 egg whites
1/2 cup butter
1 cup granulated sugar
1/2 teaspoon vanilla extract
1/2 teaspoon almond extract
Rind of 1 lemon, finely grated
2 cups sifted cake flour
1 tablespoon baking powder
2/3 cup milk
2 to 3 cups sweetened shredded coconut

Frosting:
1 (16 ounce) package powdered sugar
1 (7 ounce) jar JET-PUFFED Marshmallow Creme
1/4 cup margarine or butter, softened
1 teaspoon vanilla extract
1 to 2 tablespoons milk

Heat the oven to 350ºF. Butter and flour muffin tins or dome shaped baking molds and set aside.

Whip the egg whites in a clean bowl until stiff but not dry and place in the refrigerator while you make the rest of the batter. Cream the butter and add the sugar. Continue mixing to blend well. Add the vanilla extract, almond extract and lemon rind and mix well.

Sift the flour 3 times with the baking powder then add it to the butter mixture alternately with the milk in 3 additions. Fold in the whites and pour the batter into the molds, filling about 3/4 of the way up. Bake for 20 to 25 minutes until batter is firm to the touch in the center.

Frosting: Beat sugar, Marshmallow Creme, margarine or butter and vanilla extract with electric mixer at medium speed, beating in milk as needed to desired frosting consistency.

Place the coconut in a bowl and add 1 drop of red or green food coloring for a pale color. Toss until food coloring is well mixed in and the coconut is the desired color. Frost the top and sides of the cakes and dip/roll in coconut to make them look like snowballs.

Submitted by flu on November 16, 2012 - 8:10pm.

Updated article.

http://money.cnn.com/2012/11/16/news/com...

I don't get it... 5000 screws it for 18500 others...Makes sense to me...Guess everyone's happier now that everyone's unemployed....

Submitted by CA renter on November 17, 2012 - 3:33am.

While I agree that the concessions seemed pretty reasonable, there is more to the story:

...
Hostess was able to exit bankruptcy in 2009 for three reasons. The first was Ripplewood's equity infusion of $130 million in return for control of the company (it currently owns about two-thirds of the equity). The second reason: substantial concessions by the two big unions. Annual labor cost savings to the company were about $110 million; thousands of union members lost their jobs. The third reason: Lenders agreed to stay in the game rather than drive Hostess into liquidation and take whatever pieces were left. The key lenders were Silver Point and Monarch. Both are hedge funds that specialize in investing in distressed companies -- whether you call them saviors or vultures depends on whether you're getting fed or getting eaten.

----------

Even as it played the numbers game, Hostess had to face chaos in the corner office at the worst possible time. Driscoll, the CEO, departed suddenly and without explanation in March. It may have been that the Teamsters no longer felt it could trust him. In early February, Hostess had asked the bankruptcy judge to approve a sweet new employment deal for Driscoll. Its terms guaranteed him a base annual salary of $1.5 million, plus cash incentives and "long-term incentive" compensation of up to $2 million. If Hostess liquidated or Driscoll were fired without cause, he'd still get severance pay of $1.95 million as long as he honored a noncompete agreement.

When the Teamsters saw the court motion, Ken Hall, the union's secretary-treasurer and No. 2 man, was irate. So much, he thought, for what he described as Driscoll's "happy talk" about "shared sacrifice." Hall says he tracked Driscoll down by phone and told him, "If you don't withdraw this motion, these negotiations are done." Hostess withdrew the motion a few weeks later when Driscoll left -- the same Driscoll who, Hostess told the court in its motion, was "key" to "reestablishing" Hostess's "competitive position going forward." Abbott and Costello couldn't have made this stuff up if they'd gone to Wharton.

The board replaced Driscoll with Greg Rayburn, a restructuring expert Hostess had hired as a consultant only nine days earlier. Rayburn was a serial turnaround specialist who had worked with such high-profile distressed businesses as WorldCom, Muzak Holdings, and New York City Off-Track Betting. He became Hostess's sixth CEO in a decade. Within a month of taking over, Rayburn had to preside over a public-relations fiasco. Some unsecured creditors had informed the court that last summer -- as the company was crumbling -- four top Hostess executives received raises of up to 80%. (Driscoll had also received a pay raise back then.) The Teamsters saw this as more management shenanigans. "Looting" is how Hall described it in TV interviews.
Dick Gephardt, former House majority leader and current CEO , Gephardt Group

Dick Gephardt, former House majority leader and current CEO , Gephardt Group

Rayburn announced that the pay of the four top executives would go down to $1 for the year, but that their full salaries would be reinstated no later than Jan. 1. Hostess pays Rayburn $125,000 a month, according to court filings. At the same time Rayburn became CEO, Gephardt's son Matthew, 41, the COO of the Gephardt Group, was put on the Hostess board as a $100,000-a-year independent director.

http://management.fortune.cnn.com/tag/si...

Submitted by ocrenter on November 17, 2012 - 7:52am.

the typical battle of pro-union vs pro-business is once again playing out, we'll probably see another 100 posts back and forth.

bottom line, sales have been declining for years, everyone proclaim love for it, but how many would eat it? The company was in bankruptcy 5 of the last 8 years! yes it makes for a great headline--"union strike leads to company's death, killing jobs for 18000 workers," but essentially we are looking at a fast quick death vs a few more months on artificial life support.

face it, the stuff is simply not fit for human consumption.

Submitted by scaredyclassic on November 17, 2012 - 8:58am.

when i ate one a couple years back, it did not meet my recollected expectation of gastronomic ecstatsy. it was kind of bad tasting.

Submitted by flu on November 17, 2012 - 11:07am.

Twinkles were so good, but my favorites where ding dongs...

Submitted by JohnAlt91941 on November 17, 2012 - 2:14pm.

svelte wrote:

It's funny, I can remember in my 20s buying a dozen donuts a few times a year so the 3 of us (me, wife, son) could have 4 each. That sounds so preposterous now that I can't believe we did it. Luckily we kicked that habit before it caught up with us.

Seriously? A few times a year would be a problem? Lighten up Francis.

Submitted by JohnAlt91941 on November 17, 2012 - 2:17pm.

IMHO Hostess products are just too expensive. They may be a tad better than store brand but they cost quite a bit more.

Submitted by CDMA ENG on November 17, 2012 - 7:18pm.

flu wrote:
Twinkles were so good, but my favorites where ding dongs...

Did everyone forget about Zingers! They were the best!

CE

Submitted by flu on November 17, 2012 - 7:53pm.

CDMA ENG wrote:
flu wrote:
Twinkles were so good, but my favorites where ding dongs...

Did everyone forget about Zingers! They were the best!

CE

Crap.. I thought someone else made those...

You know the sad part is my kid won't ever know.

Submitted by moneymaker on November 17, 2012 - 7:55pm.

I'll be taking 2 Cupcakes to work with me tomorrow in my lunch. No matter how expensive they are, I paid $2.50 for a box of 8. It is still cheaper than eating out.

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