If it wasn’t obvious after the Wisconsin tirade of union abuse that big business wants to bust all unions – it certainly should be now. Looking at any company’s or municipality’s financial debacle you will usually find a link to bad Wall Street advice or investments. This is certainly true for Hostess Brands.
Founded in 1930 by Ralph L. Nafziger, the sad story of the demise of Hostess Brands, formerly known as Interstate Bakeries Corporation, and its bankruptcies stem from more recent bad management and investment decisions which created the loss of its employee pension funds – a problem that our government fails miserably to protect and properly regulate.
Hostess had 39 bakeries and approximately 21,000 employees. It generated revenue through sales of baked goods to supermarkets, mass marketers, and convenience stores in the US. The privately-held bread and snack food manufacturer also sold directly to consumers through Hostess Brands retail bakery outlets. The company’s brands include Twinkies, Wonder, Home Pride, Hostess Fruit Pies, and Ho-Hos.
If Hostess had paid more attention to marketing and product development rather than Wall Street – it might be alive and well today.