Twinkies maker Hostess plans to go out of business

[cardmasters]

(Reuters) - Hostess Brands Inc, the bankrupt maker of Twinkies and Wonder Bread, has sought a U.S. court's permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.

http://news.yahoo.com/hostess-brands...--finance.html

[mrveggieman]

Such a sad day in our history.

[jlzinck]

Such a sad day in our history.

You like Twinkies?

[Wickabee]

"Twinkies" will live on. That name and product is probably the most valuable thing they own.

[MadMan1978]

Another fine LBO...Was Bain in on this deal ?

[AUTaxMan]

Another fine LBO...Was Bain in on this deal ?

Ripplewood Holdings

[MadMan1978]

Yeah i did

[AUTaxMan]

Yeah i did

Apparently they were able to negotiate with all but one of the unions they deal with, and that one killed the whole thing.

[Wickabee]

I like what Unions have done for workers' rights over the years, but more and more I find myself wondering if they haven't outgrown their usefulness.

[indexed]

I like what Unions have done for workers' rights over the years, but more and more I find myself wondering if they haven't outgrown their usefulness.

Look at what the people at the top of the unions are making its worse then the CEO/employee ratio considering they do absolutely no work other then shrug shoulders with politicians in DC that were elected with the union dues of the people now losing there jobs. Yes, they have outgrown there usefulness. They are politically motivated spin machines that do nothing else then feed the general population a bunch of propaganda. THese thousands of people losing there jobs Im sure were not told they were risking it all when they went on strike.