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Old 11-17-2012, 08:49 AM   #31
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The demise of the Twinkie, which could have survived a nuclear war, is surely a sign that the end of days is near. I'm beginning to think December 21, 2012 is all but certain to be the end of life as we know it.
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Old 11-17-2012, 03:17 PM   #32
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It's all coming together.
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Old 11-17-2012, 03:19 PM   #33
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Old 11-17-2012, 03:42 PM   #34
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Don't stop now I'm laughing my butt off over here y'all some crazy people.


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Old 11-18-2012, 12:04 AM   #35
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I liked Golden Cremes (now Cloud Cakes?) better anyway. wish I had at least tried a deep fried twinkie though.
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Old 11-18-2012, 07:30 AM   #36
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A scapegoat is a person or group made to bear the blame for another’s actions, and usually they are easy targets to assign blame for something they had nothing to do with. Republicans have attempted to blame union labor for much of the nation’s economic woes in recent years and, yesterday, the Hostess Brands took a page right out of Republicans’ playbook and blamed a union strike as the reason they were shutting their doors and liquidating their assets costing 18,500 employees their jobs. However, much of the responsibility for Hostess shutting down lies with the company’s management and the private equity firm behind them, and yet union workers are the ones bearing the blame and subsequently will suffer the consequences of the shutdown.

Hostess Brands’ demise is a recurring story that should be well-known after Americans learned the predatory private equity tactics of Bain Capital during Willard Romney’s failed run for the White House. In fact, union president Richard Trumka pointed out that Wall Street investors that own Hostess were disinterested in the company’s success and cited similarities to the situation of Bain Capital and KB Toys in 2000. As a reminder, Bain Capital’s scheme was leveraging companies with crushing debt, cutting workers’ wages and benefits, and when the company can no longer repay their loans they go into bankruptcy, often more than once. Hostess is in bankruptcy for the second time since 2009 and a major factor in their inability to succeed is that over the past eight years, they were owned by Wall Street investors that were restructuring experts, managers from other non-baking food companies, and now a liquidation specialist. There was no plan for Hostess to succeed and it appears that was the objective all along.

Hostess’s failure was compounded by having six CEO’s in 8 years who had no experience in the bread or cake baking industry, and despite their financial woes, the company’s CEO got a 300% salary increase from $750,000 to $2,250,000, and other top executives received raises worth hundreds-of-thousands of dollars; all while the company was struggling. Instead of acknowledging the lack of competent leadership and exorbitant executive salaries as contributing to the company’s decision to close its doors, CEO Gregory Rayburn issued a statement saying, “We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike.” However, Rayburn and Hostess management claimed the strike would be responsible for closing plants even before there was a strike, and they had made plans to close plants whether or not workers accepted the Draconian wage and benefit cuts the company offered, or if they went on strike.

Hostess workers previously made numerous concessions to keep the company afloat, but they were not enough for the company’s management so they stopped making contractually-obligated contributions to employee’s pensions to save money. The employees stayed on the job until management offered a new contract cutting wages and benefits an extra 27 – 32 percent that prompted employees to strike and thus become scapegoats for Hostess’s demise. What Hostess failed to tell the public is that plans were in the works to close plants months before offering to slash workers’ wages. According to the company’s 1113 bankruptcy court filing earlier this year, they planned to close at least nine bakeries as part of its reorganization plan in addition to the three bakeries that were to be closed as a result of the company’s planned sale of its Merita division. In a November article, St. Louis Mayor Francis Slay said, “I was told months ago they were planning on closing the site in St. Louis, and there was no indication at that time it had anything to do with the strike the workers were waging.”

The ideal of blaming unions for Hostess’s bankruptcy and subsequent shutdown is one that transcends corporations and is being used by Republicans in states and at the federal level to garner public support for eliminating unions. Hostess Wall Street investors were not interested in the company’s success or they would have appointed competent managers and a CEO with experience in the baking industry as well as reining in salaries the way they cut worker wages. Using Romney’s tactics of loading up the company with debt it could not possible repay is a proven death-knell for any business, and as usual the losers in the Hostess affair are 18,500 workers who lost not only their pensions, but their jobs. It is the private equity blueprint for enriching a few at the expense of shareholders, lenders, creditors and especially workers.

There is a saying that imitation is the highest form of flattery, and the Hostess story should make Romney proud because the vulture capital tactics Wall Street investors used to destroy the Twinkie manufacturer follow Romney’s creative destruction model explicitly, and it includes eliminating union representation. The idea that union labor is responsible for any company or state’s financial difficulties is fallacious because throughout the Great Recession, union workers in every industry have made concessions, but until all unions are disbanded, conservatives will continue blaming them for America’s economic troubles.



http://www.politicususa.com/romney-v...ss-unions.html
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Old 11-18-2012, 07:42 AM   #37
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So your saying Obama supporters, Bain capital, are the reason the company could not remain profitable vs their vampire unions?

How conservative was this guy?

"... Meticulous attention should be paid to the special relationships and obligations of public servants to the public itself and to the government. All Government employees should realize that the process of collective bargaining, as usually understood, cannot be transplanted into the public service. It has its distinct and insurmountable limitations ... The very nature and purposes of Government make it impossible for ... officials ... to bind the employer ... The employer is the whole people, who speak by means of laws enacted by their representatives ...

"Particularly, I want to emphasize my conviction that militant tactics have no place in the functions of any organization of government employees. Upon employees in the federal service rests the obligation to serve the whole people ... This obligation is paramount ... A strike of public employees manifests nothing less than an intent ... to prevent or obstruct ... Government ... Such action, looking toward the paralysis of Government ... is unthinkable and intolerable." - Franklin D Roosevelt
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Old 11-18-2012, 07:53 AM   #38
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Quote:
Originally Posted by rottnrog View Post
A scapegoat is a person or group made to bear the blame for another’s actions, and usually they are easy targets to assign blame for something they had nothing to do with. Republicans have attempted to blame union labor for much of the nation’s economic woes in recent years and, yesterday, the Hostess Brands took a page right out of Republicans’ playbook and blamed a union strike as the reason they were shutting their doors and liquidating their assets costing 18,500 employees their jobs. However, much of the responsibility for Hostess shutting down lies with the company’s management and the private equity firm behind them, and yet union workers are the ones bearing the blame and subsequently will suffer the consequences of the shutdown.

Hostess Brands’ demise is a recurring story that should be well-known after Americans learned the predatory private equity tactics of Bain Capital during Willard Romney’s failed run for the White House. In fact, union president Richard Trumka pointed out that Wall Street investors that own Hostess were disinterested in the company’s success and cited similarities to the situation of Bain Capital and KB Toys in 2000. As a reminder, Bain Capital’s scheme was leveraging companies with crushing debt, cutting workers’ wages and benefits, and when the company can no longer repay their loans they go into bankruptcy, often more than once. Hostess is in bankruptcy for the second time since 2009 and a major factor in their inability to succeed is that over the past eight years, they were owned by Wall Street investors that were restructuring experts, managers from other non-baking food companies, and now a liquidation specialist. There was no plan for Hostess to succeed and it appears that was the objective all along.

Hostess’s failure was compounded by having six CEO’s in 8 years who had no experience in the bread or cake baking industry, and despite their financial woes, the company’s CEO got a 300% salary increase from $750,000 to $2,250,000, and other top executives received raises worth hundreds-of-thousands of dollars; all while the company was struggling. Instead of acknowledging the lack of competent leadership and exorbitant executive salaries as contributing to the company’s decision to close its doors, CEO Gregory Rayburn issued a statement saying, “We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike.” However, Rayburn and Hostess management claimed the strike would be responsible for closing plants even before there was a strike, and they had made plans to close plants whether or not workers accepted the Draconian wage and benefit cuts the company offered, or if they went on strike.

Hostess workers previously made numerous concessions to keep the company afloat, but they were not enough for the company’s management so they stopped making contractually-obligated contributions to employee’s pensions to save money. The employees stayed on the job until management offered a new contract cutting wages and benefits an extra 27 – 32 percent that prompted employees to strike and thus become scapegoats for Hostess’s demise. What Hostess failed to tell the public is that plans were in the works to close plants months before offering to slash workers’ wages. According to the company’s 1113 bankruptcy court filing earlier this year, they planned to close at least nine bakeries as part of its reorganization plan in addition to the three bakeries that were to be closed as a result of the company’s planned sale of its Merita division. In a November article, St. Louis Mayor Francis Slay said, “I was told months ago they were planning on closing the site in St. Louis, and there was no indication at that time it had anything to do with the strike the workers were waging.”

The ideal of blaming unions for Hostess’s bankruptcy and subsequent shutdown is one that transcends corporations and is being used by Republicans in states and at the federal level to garner public support for eliminating unions. Hostess Wall Street investors were not interested in the company’s success or they would have appointed competent managers and a CEO with experience in the baking industry as well as reining in salaries the way they cut worker wages. Using Romney’s tactics of loading up the company with debt it could not possible repay is a proven death-knell for any business, and as usual the losers in the Hostess affair are 18,500 workers who lost not only their pensions, but their jobs. It is the private equity blueprint for enriching a few at the expense of shareholders, lenders, creditors and especially workers.

There is a saying that imitation is the highest form of flattery, and the Hostess story should make Romney proud because the vulture capital tactics Wall Street investors used to destroy the Twinkie manufacturer follow Romney’s creative destruction model explicitly, and it includes eliminating union representation. The idea that union labor is responsible for any company or state’s financial difficulties is fallacious because throughout the Great Recession, union workers in every industry have made concessions, but until all unions are disbanded, conservatives will continue blaming them for America’s economic troubles.



http://www.politicususa.com/romney-v...ss-unions.html
100% No one ever blames the managment/CEO's, and in this case they were making saleries of $750,000-$2,250,000 That is a hell of a lot of twinkies to pay for that bill. The union members already took a pay cut to there retirment plans back in 2000 or so. Not one person here would want to take a 10%-15% pay cut while your boss's get there fat saleries. You better bielieve the CEO's/share holders didn't take a pay cut. They always blame the little guy, and some how they get every one else to do the same.
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Old 11-18-2012, 08:12 AM   #39
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I agree with blaming the shareholders and Management.. it was their own fault for creating the company or producing those jobs.

Maybe the unions can create a company and run it more efficiently? I wonder why that business model isn't widespread..

What about the union fatcats who get rich while their constituents lose their jobs?
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Old 11-18-2012, 08:22 AM   #40
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I agree with blaming the shareholders and Management.. it was their own fault for creating the company or producing those jobs.

Maybe the unions can create a company and run it more efficiently? I wonder why that business model isn't widespread..

What about the union fatcats who get rich while their constituents lose their jobs?
And thats the facts Jack
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Old 11-18-2012, 08:38 AM   #41
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100% No one ever blames the managment/CEO's, and in this case they were making saleries of $750,000-$2,250,000 That is a hell of a lot of twinkies to pay for that bill. The union members already took a pay cut to there retirment plans back in 2000 or so. Not one person here would want to take a 10%-15% pay cut while your boss's get there fat saleries. You better bielieve the CEO's/share holders didn't take a pay cut. They always blame the little guy, and some how they get every one else to do the same.
Do you really think that 2 million dollars would have made a difference to the bottom line if the Ceo chose to work for free? Beyond that what should a guy running a big company like that make? What's fair? Let's say he worked for a dollar a year what''s that going to benefit the workers? Roughly $2.71 a year so that whole theory is shot to hell
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Old 11-18-2012, 08:55 AM   #42
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I love these unions who are to smart for their own good. The teamsters settled and agreed to accept the benefit cuts knowing full well with the company in bankruptcy it was either that or nothing. The Baker's union decided to play hardball and say no all the while many of their members understood the dire situation and crossed the picket lines. The teamsters advised the baker's to hold a secret ballot vote on continuing the strike....knowing the bulk of the members wanted to go back to work. In the end, the union leadership wanted to continue to play hardball and decided that 72%>0% was the wrong decision to make. And now in a feeble attempt to save face the union heads blame management.

I am willing to bet that the now unemployed Baker's union members will think long and hard at the Thanksgiving dinner table about joining a union again..... does anyone truly believe the union heads had the best interests of their members in mind when they decided to strike?

On a brighter note there's talk about tastykake or a mexican baker picking up the twinkie....all is not lost in this. Perhaps the tax payers can subsidize the twinkie to keep it rolling, for every Volt sold you get a box of twinkies.
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Old 11-18-2012, 09:04 AM   #43
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I was just thinking of something else too..... this could be a good comparison case to the auto industry bailout. If the twinkie isn't bailed out it will be intersting to see if the entire cup cake eating world will collapse as a result.
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Old 11-18-2012, 09:12 AM   #44
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Do you really think that 2 million dollars would have made a difference to the bottom line if the Ceo chose to work for free? Beyond that what should a guy running a big company like that make? What's fair? Let's say he worked for a dollar a year what''s that going to benefit the workers? Roughly $2.71 a year so that whole theory is shot to hell
It is not just one guy. There is a board of directors at that company, and never mind the shareholders. I do believe the ceos/shareholders deserve their pay, but not one of them took a pay cut, or were asked to. The company would never even ask the shareholders to give back. The Blue collar workers at Hostess already took a pay cut a few years back and now are asked to do it again. It sucked that this all went down, just like a lot of company's across this country, but all am saying is everyone points to blame the little guy or in this case unions. It all starts at the management, when things are good they raise their salaries, to the millions, and get huge bonus's. Then when time gets tuff, they don’t take a pay cut, but ask the little guy? Their salaries and bonuses are million upon millions of dollars. If they gave a % back to the company, it would have done well. It might have saved the company? No one will ever know.
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Old 11-18-2012, 09:33 AM   #45
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It is not just one guy. There is a board of directors at that company, and never mind the shareholders.
There were no shareholders since Hostess inc was not a publicly traded company.


Quote:
I do believe the ceos/shareholders deserve their pay, but not one of them took a pay cut, or were asked to.
In March of this year, the Chief Restructuring Officer, Greg Rayburn, cut the salaries of the top four Hostess executives to $1 immediately upon his hire.

http://management.fortune.cnn.com/20...kies-bankrupt/

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The company would never even ask the shareholders to give back.
Because there were no shareholders. In fact the company offered 25% ownership to union employees in the the deal they turned down.
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