Last Call for HoHos, Ding Dongs and Twinkies

[BigLouie]

Originally Posted by LexusLover

Grupo Bimbo .... How about an international holding group?

http://www.forbes.com/sites/abrambro...phaned-brands/

They have direct access to the Mexican sugar industry.

Bimbo sounds likes a good choice.

[LexusLover]

Originally Posted by BigLouie

Bimbo sounds likes a good choice.

They know how, and have the international marketing network as well.

This opportunity might be good timing if Bimbo wants to get it on an opportunity that is developing from the re-privatization of some of the sugar mills in Mexico: http://gain.fas.usda.gov/Recent%20GA...o_8-1-2012.pdf

[Chica Chaser]

Originally Posted by BigLouie

Bimbo sounds likes a good choice.

Grupo Bimbo brands:

» ARNOLD
» BALL PARK (BUNS)
» BIMBO
» BOBOLI
» BROWNBERRY
» EARTHGRAINS
» ENTENMANN'S
» FRANCISCO
» FREIHOFER'S
» MARINELA
» MRS BAIRD'S
» OROWEAT
» SARA LEE
» STROEHMANN
» THOMAS'
» TIA ROSA

Not exactly a "Bimbo" company, the Hostess brands would fit right in,

Bimbo Bakeries USA (BBU) bakes and distributes leading brands such as Arnold®, Ball Park®, Bimbo®, Boboli®, Brownberry®, EarthGrains®, Entenmann's®, Francisco®, Freihofer's®, Iron Kids®, Marinela®, Mrs Baird's®, Oroweat®, Sara Lee®, Stroehmann®, Thomas'®, and Tia Rosa®. The company, headquartered in Horsham, Pennsylvania, operates over 13,000 sales routes throughout the United States.

BBU, a division of Mexico's Grupo Bimbo, is one of the world's largest baking companies in the world in terms of production and sales volume. Grupo Bimbo operates in 19 countries throughout the Americas, Asia and Europe with over 126,000 associates. Bimbo's stock trades on the Mexican Stock Exchange under the ticker symbol BIMBO.

[i'va biggen]

We will always have HO HO's and Twinkies here till the right wingers leave....

[cptjohnstone]

Originally Posted by ekim008

We will always have HO HO's and Twinkies here till the right wingers leave....

Are you admitting you are a twinky?

[BigLouie]

[CuteOldGuy]

I don't suppose you have any evidence to support your claim, do you, BigLoser? Didn't think so.

[acp5762]

Originally Posted by Chica Chaser

Most of those "other" bakeries are also Hostess
Hostess Brands include Twinkies®, CupCakes®, Ding Dongs®, Ho Ho’s®, Sno Balls®, Donettes®, Drake's® cakes and Dolly Madison®.
Bread brands include Wonder®, Nature’s Pride®, Merita®, Home Pride®, Butternut®, and Millbrook®, among others.

All these snack names have sexual conotations. How can they go out of buisness, lol.

[Chica Chaser]

Only in your perverted mind acp!

[Chica Chaser]

Originally Posted by CuteOldGuy

I don't suppose you have any evidence to support your claim, do you, BigLoser? Didn't think so.

I would like to see that myself Louie, that would affect my opinion of this situation. I know I read earlier that Hostess was offering the union an ownership stake in the company in exchange for the wage concession. I'll have to go find that again.

I would also be surprised if the average union wage was less than $20/hr

[BossyWillson]

Originally Posted by BigLouie

Management raided the kitty

[Chica Chaser]

Here it is. Lets see your cite for the claims you made Sir.

From the company website itself

http://hostessbrands.com/Closed.aspx

The BCTGM in September rejected a last, best and final offer from Hostess Brands designed to lower costs so that the Company could attract new financing and emerge from Chapter 11. Hostess Brands then received Court authority on Oct. 3 to unilaterally impose changes to the BCTGM’s collective bargaining agreements.

Hostess Brands is unprofitable under its current cost structure, much of which is determined by union wages and pension costs. The offer to the BCTGM included wage, benefit and work rule concessions but also gave Hostess Brands’ 12 unions a 25 percent ownership stake in the company, representation on its Board of Directors and $100 million in reorganized Hostess Brands’ debt.

[LexusLover]

First, I believe Bimbo will know how to address the union issues ... effectively. Secondly, propoganda rumors by unions and/or managements are difficult most of the time to sort from the truth, but an example cited as to the "waste" was a union requirement that bread had to be delivered in a separate truck from snacks .... that may sound "petty" on the surface, but that type of bullshit is what drives up costs unnecessarily and artificially creates jobs that would need to be eliminated if belt tightening were in order.

As for "executive" pops immediately prior to bankruptcy .. the Court can address those if brought to the Court's attention ... and if done "in contemplation of filing" it won't take long to deal with it.

It is also reported that in the first bankruptcy the management agreed not to toss the union agreements but leave them intact, an option that is available in the bankruptcy proceeding.

As for pension fund plans ... that is a matter of auditting and are treated as fiduciary obligations. There are state and federal criminal statutes to address those issues ... either on the union side or the management side ... who ever is "controlling" the plan.

I can imagine if Bimbo takes over the brand the financial house will be put in order.

[BigLouie]

I am amazed at all you morons who believe as gospel everything printed by crap pot right wing web sites but can't believe real info posted in public.

Wall Street Journal : Creditors of Hostess Brands are questioning large executive pay raises made prior to the baking company's bankruptcy filing.

It is quite clear that the company is stealing the money and hiding it in the executives pockets along with the Hedge Funds who own Hostess. Let's do the math. 18,000 employees. The average yearly cost per employee with benefits is $50,000. I am high balling it just to see. That comes out to about 1 billion a year in wages and benefits. That leaves the company with 1.5 billion dollars! Their expenses are not more than 1.5 billion dollars! They are fabricating the books and the executives are pocketing serious money. In the hundreds of millions! Let the company burn! Period! Greg Rayburn is a liquidation specialist. They hired him a couple of months ago to liquidate the company. Don't get it twisted.
Salary Increases at Hostess.

Some creditors question Hostess pay raises approved in late July.

Brian Driscoll, CEO, around $750,000 to $2,550,000.
Gary Wandschneider, EVP, $500,000 to $900,000.
John Stewart, EVP, $400,000 to $700,000.
David Loeser, EVP, $375,000 to $656,256.
Kent Magill, EVP, $375,000 to $656,256.
Richard Seban, EVP, $375,000 to $656,256.
John Akeson, SVP, $300,000 to $480,000.
Steven Birgfeld, SVP, $240,000 to $360,000.
Martha Ross, SVP, $240,000 to $360,000.
Rob Kissick, SVP, $182,000 to $273,008.

This is Bain capitalism at its worst........a company using bankruptcy as a bargaining chip........it failed so they are liquidating a profitable company.........

[Guest040616]

Originally Posted by BigLouie

Wall Street Journal : Creditors of Hostess Brands are questioning large executive pay raises made prior to the baking company's bankruptcy filing..............This is Bain capitalism at its worst........a company using bankruptcy as a bargaining chip........it failed so they are liquidating a profitable company......... .

I doubt that you will find much sympathy from the Far Right Wing-Nuts about Hostess Executives doing essentially the same thing that Romney did at Bain Capital.

According to the Think Progress website: "While the company was filing for bankruptcy, for the second time, earlier this year, it actually tripled its CEO’s pay, and increased other executives’ compensation by as much as 80 percent."

http://thinkprogress.org/economy/201...esss-downfall/