Twinkies may liquidate if workers don't cut pay& bene's by 35- 40% by 5 PM today. Wholly cow, the ramifications of another 4 years or Obama.
By JEANETTE TORRES
Nov. 15, 2012
The end for Twinkies may just be hours away. Hostess Brands Inc., the maker of the iconic snack, announced on Wednesday that it will liquidate the entire company if not enough striking employees return to work by Thursday evening.
"We simply do not have the financial resources to survive an ongoing national strike," Hostess CEO Gregory Rayburn said in a statement Wednesday. "Therefore, if sufficient employees do not return to work by 5 p.m., EST, on Thursday to restore normal operations, we will be forced to immediately move to liquidate the entire company, which will result in the loss of nearly 18,000 jobs."
The strikes began on Nov. 9, when the company imposed a contract that would cut workers' wages by 8 percent. The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM) said the contract would also cut benefits by 27 to 32 percent.
I would like to discuss how the other folks on this messageboard feel, staring into the abyss of the fiscal cliff.
Obama claims he saved the car industry, why didn't he save our twinkees. China will end up with all are historic pastries.
As comic relief in the classic Bruce Willis movie "Die Hard," a beleaguered Bruce, fighting off terrorists in a high-rise building, finds an ancient but still edible Twinkie. He reaches out by radio to Twinkie-addicted police Sgt. Al Powell (portrayed by Reginald Vel Johnson) and asks what's in a Twinkie.
"Sugar, enriched flour, partially hydrogenated vegetable oil, polysorbate 60 and yellow dye No. 5," Al replies. "Everything a growing boy needs."
Well, yes. But as America has learned since Hostess Brands — bakers of Twinkies, Ho-Hos, Drake's Cakes, Ding-Dongs, Wonder Bread and dozens of other delicious delights — filed for bankruptcy protection on Wednesday, the entire American economy is inside a Twinkie, slathered in a mysterious cream-like filling.