Hostess gets green light from bankruptcy court judge to start winding down its operations

  • Article by: CANDICE CHOI , Associated Press
  • Updated: November 21, 2012 - 7:01 PM
  • 15
  • Comments

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obamafone4meNov. 21, 12 5:58 PM

Ahhh... it feels so good to be out of work during the holidays. 3,500 greedy union employees put 15,000 other union employees out of work. We know... management is also to blame, but it wasn't management that put this company out of business.

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localguyNov. 21, 12 7:55 PM

"it wasn't management that put this company out of business." When management and a union fail to reach an agreement, it could be either sides' fault. Considering that the unions accepted pay and benefit cuts before while over a dozen members of management gave themselves raises of 80% while the company was struggling, it's pretty clear that it was management that was bargaining in bad faith.

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theagonybhoNov. 22, 12 7:55 AM

I just read union workers said we would rather go out of business, quit and collect unemployment than take a pay cut. Says alot about the union and the general direction this country is headed. My friend just sold his business and said im taking my money and getting in line with my hand out like everybody else.

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nomedsNov. 22, 12 8:26 AM

The average wage for a Baker's union member at Hostess was $16 per hour or $32K per year, and the CEO at Hostess got a raise to $2.25 million per year. Does anything else really need to be said?

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theagonybhoNov. 22, 12 9:36 AM

nomeds, whats your point? 1 guy runs a billion dollar company and the other bakes bread.

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nomedsNov. 22, 1210:42 AM

CEOs are overpaid for what they do. They delegate the running of the companies to others at every level, they don't have a clue about the products, they are nothing but figureheads. As a Registered Patent Attorney, I have dealt with many, many companies and I have been told by every single CEO that they don't know anything about their products and not ask them any questions.

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obamafone4meNov. 22, 1211:06 AM

"CEOs are overpaid for what they do". Apparently you have no idea what they do.

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obamafone4meNov. 22, 1211:08 AM

"I have been told by every single CEO that they don't know anything about their products" Sure they don't. You can't make this stuff up!

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nomedsNov. 22, 12 1:32 PM

@obamafone4me - Obviously they don't do much since they don't have a clue about patents. Gee, what's a provisonal patent app. Gee, what's a non-provisonal patent app. Gee, What's 35 U.S.C. 102 rejection? What's a 35 U.S.C. 103 rejection? You simply can't make this stuff up when dealing with them.

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falcon1681Nov. 22, 12 2:14 PM

theagonybho - nomeds, whats your point? 1 guy runs a billion dollar company and the other bakes bread. ------------- What's your point? The company has filed for bankruptcy twice now in the last 10 years. And it wasn't the bakers making the financial decisions. That's all that really need be said about Hostess and the guy making the billion dollar decisions.

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