Go Back   HFBoards > General Hockey Discussion > The Business of Hockey
Mobile Hockey's Future Become a Sponsor Site Rules Support Forum vBookie Page 2
The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

OT: Twinkies and the NHL

Closed Thread
Thread Tools
11-16-2012, 01:02 PM
Melrose Munch
Registered User
Melrose Munch's Avatar
Join Date: Mar 2007
Posts: 16,234
vCash: 500
OT: Twinkies and the NHL

For those that think the NHL won't shut down for good...

No more Twinkies? Hostess plans to shut down

Hostess CEO says strike was fatal blow for bankrupt company and that it is too late to fix it. Nearly 600 could lose jobs in Schiller Park and Hodgkins bakeries.


12:56 PM CST, November 16, 2012

Hostess Brands on Friday received a court order for an expedited hearing on its request to

The hearing on liquidation request is scheduled for 2 p.m. Eastern time Nov. 19, in bankruptcy court in White Plains, N.Y.

The bankrupt maker of Twinkies and Wonder Bread, said it had sought court permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.

Hostess, which has about $2.5 billion in sales from a long list of iconic consumer brands of snack cakes and breads said it had suspended operations at all of its 33 plants around the United States as it moves to start liquidating assets.

"We'll be selling the brands and as much of the infrastructure as we can," said company spokesman Lance Ignon. "There is value in the brands."

Hostess said a strike by members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union that began last week had crippled its ability to produce and deliver products at several facilities, and it had no choice but to give up its effort to emerge intact from bankruptcy court.

The Irving, Texas-based company said the liquidation would mean that most of its 18,500 employees would lose their jobs.

In the Chicago area, Hostess employs about 300 workers making CupCakes, HoHos and Honey Buns in Schiller Park. Hostess also has a bakery in Hodgkins, where 325 workers make Beefsteak, Butternut, Home Pride, Nature’s Pride and Wonder breads.

Hostess spokesman Tom Becker confirmed that Hostess plants have closed, and the local factories in Hodgkins and Schiller Park ran their last production Friday morning. The company also has a plant in Peoria.

Calls to the Hodgkins and Schiller Park plants were not answered.

"I don't think it's a stretch to say there's a lot of sadness today," Becker said, adding that "18,500 people had jobs yesterday and knew they weren't going to have jobs anymore when they woke up today," referring to Hostess' total employee base.

Melrose Munch is offline  
11-16-2012, 01:18 PM
Trick or ruddy treat
Shrimper's Avatar
Join Date: Feb 2010
Location: Essex
Country: United Kingdom
Posts: 79,509
vCash: 50
What does a confectionery have to do with the NHL?

Shrimper is online now  
11-16-2012, 01:20 PM
Registered User
Join Date: Aug 2010
Posts: 26,473
vCash: 50
Some other company is going to buy the brand and nothing will change. Speaking to the Hostess situation specifically, the pay cuts they had already taken and were asked to take again, given that Obama was re-elected, made their situation such that it would be a disadvantage to return to work as opposed to collecting unemployment for the next several years.

digdug41982 is offline  
11-16-2012, 01:23 PM
Registered User
Hawkscap's Avatar
Join Date: Jan 2007
Posts: 2,322
vCash: 500
or the Hedge Fund that owned Hostess has bled it dry again. CEO and other execs gave themselves some big raises this year.

BCTGM members voted to strike Hostess after the company imposed cuts that included ending payments to the employees’ pension plan while executives awarded themselves massive bonuses. Among the raises was a 300 percent raise (from approximately $750,000 to $2,550,000) for the then-CEO of Hostess. At least nine other top executives of the company also received massive pay raises, including one who received a pay increase from $500,000 to $900,000 and another received one that brought his salary from $375,000 to $656,256.

Hawkscap is offline  
11-16-2012, 01:27 PM
Ok Blue Jays
Inkling's Avatar
Join Date: Nov 2006
Location: Ottawa
Country: Canada
Posts: 3,428
vCash: 500
Just like the NHL, Hostess brands can turn to Canada for safe harbour.

Saputo and Weston own the rights to most of the Hostess brands in Canada, so their US bankruptcy does not affect the Great White North.


Inkling is offline  
11-16-2012, 01:36 PM
Registered User
DaAnimal's Avatar
Join Date: May 2009
Location: Pasadena
Country: United States
Posts: 1,385
vCash: 500
Yall better get your twinkies. They never expire so 20 years from now they could be worth a lot.

I know I'm going to buy a few boxes of them

DaAnimal is offline  
11-16-2012, 02:22 PM
LadyStanley's Avatar
Join Date: Sep 2004
Location: North of the Tank
Country: United States
Posts: 61,045
vCash: 500
Please continue discussion in megathread (where it's been a topic for a while).

LadyStanley is offline  
Closed Thread

Forum Jump


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

All times are GMT -5. The time now is 05:36 PM.

monitoring_string = "e4251c93e2ba248d29da988d93bf5144"
Contact Us - HFBoards - Archive - Privacy Statement - Terms of Use - Advertise - Top - AdChoices

vBulletin Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
HFBoards.com is a property of CraveOnline Media, LLC, an Evolve Media, LLC company. ©2015 All Rights Reserved.