“Bless you, Scotty!*” The bankrupt assets of Hostess Brands, Inc., the company responsible for Twinkies, Ho Ho’s, Sno Balls and Ding Dongs, are being put back to work by a buyout firm. What’s not being put back to work are the former Hostess unionized employees. Basically, the new owners (Apollo Global Management LLC, and Metropoulos & Co.) aren’t subject to the old union contract from | Read More »
With the demise of 18,000 jobs weighing on their shoulders (though certainly not their consciousness’) and just in time for the Sunday morning talk shows union bosses are now trying desperately to point fingers at the victim (and Mitt Romney) for the union’s strike that ultimately destroyed Hostess and its 18,000 jobs. This blame game is going on despite the fact that the bakers’ union | Read More »
The events of this past week have Sno Balled rather quickly and Suzie Q is still in a state of shock. Teamsters are calling the striking bakery union a bunch of Ding Dongs and Ho Ho’s. Yes, it’s true. The great Twinkie is dead. And, it’s no Wonder. Like so many before it, Twinkie the kid has been killed off by a union strike.
Read More »On today’s edition of Coffee and Markets, Brad Jackson is joined by Francis Cianfrocca to discuss the closing of Hostess Brands because of a moronic union strike, a plan by Denny’s to hike prices to pay for Obamacare and a surprisingly sharp rise in jobless claims in the week after the election.
Read More »Very possibly. Background here and here: the short version is that Hostess Foods is in horrible financial shape; it’s in the process of trying to stave off bankruptcy via drastically renegotiated emergency union contracts with the Teamsters and bakers’ unions; the Teamsters took a look at the books, blanched, swallowed hard, and took the deal; the bakers’ unions did not, and decided to go on | Read More »
Last January, Hostess Brands, the company that built such iconic lunch-bag stuffers as Twinkies, Ding Dongs and Wonder Bread filed for bankruptcy. In an era of greater competition and a more health conscious public, Hostess’ problems stem, in part, to the heavy costs its union contracts have placed on the company. Now, as the company and union leaders have hammered out tentative contracts that would | Read More »
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