November 16, 2012

Friday Off-Topic (Moderated) Open Thread (111612)

Filed under: Economy,Taxes & Government — Tom @ 6:05 am

Rules are here. Possible comment fodder follows. Other topics are also fair game.

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Ding, Dong, Hostess is Dead — Barring a last-second turnaround of some kind, Hostess, the maker of the Twinkie, Ding Dong, and other snacks will be dead on Tuesday. Already in bankruptcy, the company has decided to liquidate because, according to its CEO, “we do not have the financial resources to weather an extended nationwide strike.” Chalk it up as yet another suicidal move by what’s left of private-sector organized labor.

I suspect that the products will reappear at some point when whoever buys the brands and recipes in bankruptcy acquires them, but there’s no way most of the 18,000 jobs lost are coming back.

I guess First Lady Michelle Obama will be happy that at least for a while a leading form of so-called junk food will be unavailable.

UPDATE: More from Cincinnati.com a few days ago, demonstrating how deep the delusion is among those who have taken Hostess to the brink of closure –

“Some employees are apparently under the misimpression that if they force Hostess to liquidate, another company will buy our bakeries and offer them employment,” Rayburn said. “The fact is, the bakery industry already has far too much capacity, and there is a strong risk that many of our facilities may never operate as bakeries again once they are closed. I believe the leadership of the Bakers Union knows this fact, but is willing to sacrifice its Hostess employees for the sake of preventing other bakery companies from asking for similar concessions.”

… “That hardest part of the decision to close any facility is knowing that it will result in the loss of jobs for those Hostess Brands employees who did not support the strike and who wanted to help revive the Company,” Mr. Rayburn said. “They didn’t ask for these strikes, but they are paying a terrible price for them.”

Clearly, the union could care less about those who will soon be on the street.

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2 Comments

  1. Obama economic stimulus:
    “Most employees who lose their jobs should be eligible for government-provided unemployment benefits,” Hostess said.
    http://www.nbcdfw.com/news/national-international/NATL-Twinkies-Maker-Hostess-Going-Out-of-Business-179643161.html

    Comment by Jim — November 16, 2012 @ 8:27 am

  2. So it’s all okay. Just ask Sherrod Brown and Nancy Pelosi. (/sarc)

    Comment by Tom — November 16, 2012 @ 8:35 am

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