HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Pabst Owner Metropoulos C...

Fri Nov 16, 2012, 08:08 PM

Pabst Owner Metropoulos Considers Bid for Hostess Brands

Source: Bloomberg

C. Dean Metropoulos & Co., the private equity firm that owns Pabst Brewing Co., is considering an offer to buy Hostess Brands Inc., which said today it plans to liquidate its business. “Our family would love to purchase these iconic brands,” said Daren Metropoulos, a principal at the Greenwich, Connecticut-based firm, which paid $250 million for Pabst in 2010. “We are actively pursuing this deal as no doubt strategics will also.”

C. Dean Metropoulos, founder of the firm, has specialized in purchasing struggling brands, such as Chef Boyardee and Bumble Bee Tuna and turning them around. The firm paid close attention to the maker of Twinkies and Wonder Bread during its bankruptcy proceedings, Daren Metropoulos has said.

We have analyzed this opportunity very carefully for a few years now,” Metropoulos said in an e-mail. “Shedding the complications of the unions and old plants makes it even more attractive.”

The 82-year-old company also makes Hostess CupCakes, Ding Dongs and Ho Hos. The private equity firm is “fully prepared to participate in any process involving selling the brands,” Daren Metropoulos said.





Read more: http://www.bloomberg.com/news/2012-11-16/pabst-owner-metropoulos-is-considering-bid-for-hostess-brands.html

111 replies, 13577 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 111 replies Author Time Post
Reply Pabst Owner Metropoulos Considers Bid for Hostess Brands (Original post)
octoberlib Nov 2012 OP
backscatter712 Nov 2012 #1
octoberlib Nov 2012 #2
Chipper Chat Nov 2012 #78
LTR Nov 2012 #6
MADem Nov 2012 #41
Enrique Nov 2012 #76
AlecBGreen Nov 2012 #66
Enrique Nov 2012 #77
jmowreader Nov 2012 #92
AlecBGreen Nov 2012 #93
MynameisBlarney Nov 2012 #102
mahatmakanejeeves Nov 2012 #107
olddad56 Nov 2012 #32
Kablooie Nov 2012 #83
Eagle_Eye Nov 2012 #3
thelordofhell Nov 2012 #4
Eagle_Eye Nov 2012 #61
niyad Nov 2012 #5
glinda Nov 2012 #8
cstanleytech Nov 2012 #12
Angry Dragon Nov 2012 #22
cstanleytech Nov 2012 #26
Angry Dragon Nov 2012 #42
cstanleytech Nov 2012 #45
Angry Dragon Nov 2012 #46
cstanleytech Nov 2012 #48
Angry Dragon Nov 2012 #49
cstanleytech Nov 2012 #50
Angry Dragon Nov 2012 #52
cstanleytech Nov 2012 #62
Angry Dragon Nov 2012 #65
cstanleytech Nov 2012 #71
Angry Dragon Nov 2012 #73
cstanleytech Nov 2012 #81
Angry Dragon Nov 2012 #82
Angry Dragon Nov 2012 #85
cstanleytech Nov 2012 #88
cstanleytech Nov 2012 #91
Angry Dragon Nov 2012 #94
cstanleytech Nov 2012 #96
Angry Dragon Nov 2012 #97
cstanleytech Nov 2012 #100
Angry Dragon Nov 2012 #101
cstanleytech Nov 2012 #104
Angry Dragon Nov 2012 #105
cstanleytech Nov 2012 #106
Angry Dragon Nov 2012 #108
cstanleytech Nov 2012 #109
Angry Dragon Nov 2012 #110
cstanleytech Nov 2012 #111
smccarter Nov 2012 #84
cstanleytech Nov 2012 #90
Katashi_itto Nov 2012 #60
eggplant Nov 2012 #27
cstanleytech Nov 2012 #30
Ash_F Nov 2012 #51
hexola Nov 2012 #63
Rosa Luxemburg Nov 2012 #75
MynameisBlarney Nov 2012 #103
myrna minx Nov 2012 #15
crunch60 Nov 2012 #23
hexola Nov 2012 #64
svpadgham Nov 2012 #67
theHandpuppet Nov 2012 #72
high density Nov 2012 #7
crunch60 Nov 2012 #24
femrap Nov 2012 #9
Divine Discontent Nov 2012 #13
femrap Nov 2012 #19
Divine Discontent Nov 2012 #57
cstanleytech Nov 2012 #16
femrap Nov 2012 #18
myrna minx Nov 2012 #21
cstanleytech Nov 2012 #25
crunch60 Nov 2012 #29
Cynicus Emeritus Nov 2012 #37
femrap Nov 2012 #53
crunch60 Nov 2012 #59
femrap Nov 2012 #86
crunch60 Nov 2012 #89
femrap Nov 2012 #98
crunch60 Nov 2012 #99
Divine Discontent Nov 2012 #10
femrap Nov 2012 #20
Divine Discontent Nov 2012 #58
obamanut2012 Nov 2012 #11
kestrel91316 Nov 2012 #14
bluedigger Nov 2012 #17
cstanleytech Nov 2012 #28
Cynicus Emeritus Nov 2012 #35
Dr_Scholl Nov 2012 #31
Fearless Nov 2012 #33
Cynicus Emeritus Nov 2012 #34
cstanleytech Nov 2012 #36
AdHocSolver Nov 2012 #43
cstanleytech Nov 2012 #44
Teamster Jeff Nov 2012 #69
WinniSkipper Nov 2012 #70
Teamster Jeff Nov 2012 #74
WinniSkipper Nov 2012 #87
DonCoquixote Nov 2012 #80
Blue Owl Nov 2012 #38
Beacool Nov 2012 #39
Ed Suspicious Nov 2012 #40
mulsh Nov 2012 #47
hexola Nov 2012 #56
Cirque du So-What Nov 2012 #54
hexola Nov 2012 #55
WilliamPitt Nov 2012 #68
valerief Nov 2012 #79
jmowreader Nov 2012 #95

Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:10 PM

1. PBR and Twinkies - two great tastes that go great together!

Especially considering that PBR is the Twinkies of beer!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to backscatter712 (Reply #1)

Fri Nov 16, 2012, 08:12 PM

2. I know, right? I thought the same thing nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Reply #2)

Sat Nov 17, 2012, 07:18 PM

78. Ha Ha. I remember those days well. CIrca 1966.

PBR & Twinkies. Fishing with a bunch of guys; After a weenie-roast; dirty hands and all.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to backscatter712 (Reply #1)

Fri Nov 16, 2012, 08:17 PM

6. Undrinkable beer targeted to hipsters

Because they're the only ones stupid enough to drink it.

Although, to their credit, they did reintroduce the 60s formula Schlitz Gusto, so they get a big thumbs up from me.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to LTR (Reply #6)

Fri Nov 16, 2012, 10:21 PM

41. Hipsters? Times have changed!!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to MADem (Reply #41)

Sat Nov 17, 2012, 07:06 PM

76. does that guy do any songs about Twinkies?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to LTR (Reply #6)

Sat Nov 17, 2012, 08:39 AM

66. eeek!

I love good beer just as much as the next guy (GOOOD beer, not supermarket "good" beer like Heineken) and PBR is my go-to beer. $7 a 12 pack is hard to beat and its far better than High Life, Keystone, etc.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to AlecBGreen (Reply #66)

Sat Nov 17, 2012, 07:10 PM

77. so you don't like Heineken, and you do like PBR...



Reply to this post

Back to top Alert abuse Link here Permalink


Response to Enrique (Reply #77)

Sun Nov 18, 2012, 07:27 AM

92. Let me tell you about Heineken

Heineken is shipped from Holland in unrefrigerated containers. It is stored in an unrefrigerated warehouse, hauled in dry vans to destination, and sold in green bottles. In the US it is the world's skunkiest beer.

PBR is at least fresh.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Enrique (Reply #77)

Sun Nov 18, 2012, 08:39 AM

93. Heineken is drinkable

The meaning I was trying to convey is that I really really REALLY like good beer. Stone, Rogue, Anderson Valley, Youngs, Lagunitas(!), etc. Even so, since I cant afford to drink $3 bottles of beer all day, Ill take PBR. Its far better than most 'cheap' beers like Coors, Bud, Keystone, Miller, etc.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to AlecBGreen (Reply #66)

Sun Nov 18, 2012, 06:34 PM

102. INORITE!

I'm drinking PBR right now, lol

Reply to this post

Back to top Alert abuse Link here Permalink


Response to AlecBGreen (Reply #66)

Mon Nov 19, 2012, 10:51 AM

107. 18-packs of PBR were on sale at the Rite Aid last week

for $9.99. Sadly, not a one was to be found. I tried two different Rite Aids several times. Sometimes, life is not fair.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to backscatter712 (Reply #1)

Fri Nov 16, 2012, 09:56 PM

32. maybe they buy the right to the Twinkie and change thename of the beer to Pabst Blue Twinkie Beer.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to backscatter712 (Reply #1)

Sat Nov 17, 2012, 08:14 PM

83. They are great to dunk. Mmm.

Wet soggy Twinkies in flat, tasteless beer.

What could be better! Yum!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:15 PM

3. My red neck, white socks, and Blue Ribbon ... Ding Dongs!

Sorry Johnny Russell, but it was too good to pass up.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:15 PM

4. Bumble Bee Tuna sandwich for lunch, Chef Boyardee Ravioli for dinner, PBR to wash it all down

Now including a Twinkie for dessert........they're a Jimmy Dean Sausage away from ruining a whole day of food.............

Reply to this post

Back to top Alert abuse Link here Permalink


Response to thelordofhell (Reply #4)

Sat Nov 17, 2012, 06:00 AM

61. Fried egg sandwich on white bread, and wash it down with a PBR

That is a good redneck breakfast.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:16 PM

5. “Shedding the complications of the unions . . "

that said everything we need to know right there. I have, in the past, enjoyed a cupcake or two, but never again.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to niyad (Reply #5)

Fri Nov 16, 2012, 08:23 PM

8. Well how convenient.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to niyad (Reply #5)

Fri Nov 16, 2012, 08:33 PM

12. I cannot blame Pabst for making a business decision.

Sure, it will suck for the workers but that doesnt mean a new union cannot form eventually and maybe it will be a better union than the one that decided to play chicken and torpedo Hostess.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #12)

Fri Nov 16, 2012, 09:12 PM

22. What a bunch of bull in your post

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #22)

Fri Nov 16, 2012, 09:35 PM

26. How so? Pabst isnt the one that forced Hostess under is it?

If they did then I apologize to you but before I issue such an apology I am going to have to demand you produce evidence that showes it was the fault of Pabst.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #26)

Fri Nov 16, 2012, 10:39 PM

42. It is not the Pabst part of your post that is bull It is the last part.

Then you should have no problem producing evidence that the union was playing chicken torpedoed Hostess.
Unless you feel that people wanting a decent wage with benefits is playing chicken.
You are running a company and it goes into bankruptcy and you ask the unions to give back a little, they do.
In the course of time the company goes through 6 management changes and the current management are hedge funds and a Wall Street investment group that has put on enormous debt. None of which know anything about the baking industry. You go into bankruptcy again and you ask the union to once again give back, wages, pensions, pay more for health care. The people, 92%, say no. Meantime, under bankruptcy, the company because it is being run so well decides to give the CEO a pay increase from $750,000 to $2.5 million. The next 9 execs also get pay raises, they are not making as much nor do they get as much percentage in pay raises. But they get raises. And you can bet your ass that the execs were not asked to give up their pensions nor pay more into their health care plan.

I was a baker, I belonged to that union, I negotiated union contracts.

If anything you owe a HUGE apology to unions. I might even go as far as to tell you to start a new post with your apology. Unions are the reason why the middle-class ever existed. With out them you will have no middle-class. They are the backbone of the Democratic party.

If you do not feel this way I am wondering why you are on this board and why you are a democrat.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #42)

Fri Nov 16, 2012, 11:22 PM

45. That part is based purely on what I have read which is that

Hostess tried to strike a deal and the unions said no to it and thats purely the facts of what has been reported in the news, if you can refute those facts with something else other than conjecture over why it happened then please do so and as for me being a democrat....I find it interesting that you are using a very similar tactic practiced by the more conservative republicans against their more moderate brethren.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #45)

Fri Nov 16, 2012, 11:27 PM

46. What part of my post was conjecture??

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #46)

Fri Nov 16, 2012, 11:51 PM

48. My bad, how about we replace conjecture with innuendo?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #48)

Fri Nov 16, 2012, 11:58 PM

49. Then what part of my post was innuendo??

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #49)

Sat Nov 17, 2012, 12:14 AM

50. How about we start with where you said

"If you do not feel this way I am wondering why you are on this board and why you are a democrat." and work back from there?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #50)

Sat Nov 17, 2012, 12:19 AM

52. How about we start at the beginning of my post and work our way to the end??

Because everything before leads into the end ...........

But you are free to address why you do not feel this way

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #52)

Sat Nov 17, 2012, 08:11 AM

62. We we can if we ignore that the question you asked was "Then what part of my post was innuendo??"

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #62)

Sat Nov 17, 2012, 08:30 AM

65. You were complaining because you needed more facts

I gave you more facts and you refuse to talk about these facts.


' and maybe it will be a better union than the one that decided to play chicken and torpedo Hostess.'Do you still hold this opinion after receiving more facts??
I find this a strange opinion for a democrat to hold ..............
Let's discuss why you would believe this

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #65)

Sat Nov 17, 2012, 02:08 PM

71. No, I was pointing out that we lack access to things like say internal emails that prove that this

was their plan, you were the one that threw the innuendo in not me at the end just because I refuse to automatically take your word or anyones word that x event has happened without anything to back it up.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #71)

Sat Nov 17, 2012, 06:38 PM

73. But you had no problem saying that the workers torpedoed the company

without any facts to back it up , but I guess in your world that is okay
because workers should just work for whatever the company is willing to pay them because they should just be happy to have a job

Now if you want you could respond to the information that I provided to you .......

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #73)

Sat Nov 17, 2012, 07:57 PM

81. Actually I am willing to amend that part somewhat.

The fact is it was only some of the workers who rejected the offer so only some of the workers torpedoed it or are we now pretending the union didnt reject the offer after being warned the company would be forced into declaring bankruptcy if they rejected it?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #81)

Sat Nov 17, 2012, 08:14 PM

82. 92% rejected it

I see you have limited reading comprehension
I gave you all kinds of facts and you did not bother reading them

I will repeat some of them:
They are already in bankruptcy
They gave their top execs 200-300% pay raises WHILE they are in bankruptcy
So if they can do this then how do they justify asking the workers for money back??
The workers had already given back to the company during the last bankruptcy
Six changes of management in the last 8 years
Company added $900 million in debt

Workers can not torpedo a company
I can see by your words that you feel that the company was being well run and would not go out of business if it was not for the workers just trying to keep their same pay and benefits. Not getting a raise but just to keep what they had.

Would you like it if you had your pay cut twice, lose your pension, and pay more into your health insurance??

It would be nice if you started answering the questions put to you instead of throwing other things out there.

Reply to this post

Back to top Alert abuse Link here Permalink



Response to Angry Dragon (Reply #85)


Response to Angry Dragon (Reply #85)

Sun Nov 18, 2012, 05:07 AM

91. See my reply to smccarter then. nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #91)

Sun Nov 18, 2012, 09:02 AM

94. I read it and you did not address my questions .... now would be a good time

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #94)

Sun Nov 18, 2012, 01:16 PM

96. You mean the question you started by maturely insulting me? Well gee I wonder why

I might have ignored it.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #96)

Sun Nov 18, 2012, 02:28 PM

97. I mean the other ones

and you did not even bother answering that one either

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #97)

Sun Nov 18, 2012, 05:37 PM

100. Link it then and I will give it a shot assuming its an actual question and not just more opinion.

Edit: And assuming I havent answered it already in this thread of course.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #100)

Sun Nov 18, 2012, 05:47 PM

101. You can look through the thread and answer the questions as asked

You have not answered anything

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #101)

Sun Nov 18, 2012, 08:20 PM

104. You were the one that claimed I avoided answering a question so please have

the common courtesy to link to which one you are referring to specifically.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #104)

Sun Nov 18, 2012, 09:08 PM

105. Start with post #42 and go from there

You accuse me of making statements that I did not make.
I asked numerous questions throughout my posts and you fail to answer them
You make a complaint and I ask you where and then you change the complaint ... you even failed to answer why you are here if you do not support unions
On and on the questions were asked and you did not answer
So answer them now ............

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #105)

Mon Nov 19, 2012, 10:31 AM

106. I asked you for evidence though, you provided opinion pieces that had alot of speculation instead.

And I skimmed a bit from 42 to try and find it but I refuse to reread every post of yours because you claim I didnt answer a question, so please have the decency to post a link what the freaking question is that I allegedly didnt answer.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #106)

Mon Nov 19, 2012, 07:02 PM

108. I listed facts ...... not my opinion

If you do not like the facts I listed then have the decency to refute them
You accused me of blaming Pabst ............ I never did ........
You refused to answer a lot of questions I don't feel I should have to point them out to you because YOU refused to answer them as they were asked.......
You accused the union of torpedoing Hostess ........ I wonder what you base this opinion on

Do you feel workers should work for and wage and benefits a company feels is fair in their minds??

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #108)

Mon Nov 19, 2012, 10:23 PM

109. It appeared to me that you were blaming Pabst but maybe I misunderstood in

which case I apologize to you for that.
As for not answering a lot of questions, I finally reviewed more of your posts to me and maybe I am wrong but I did not see a single question that I failed to answer before you started with the insults around post #82, if I am mistaken about that please point it out to me.

And one of the unions did torpedo Hostess or atleast thats what Hostess is claiming and furthermore we have been over that already and that isnt an opinion its a fact that one of the unions did say no to the deal Hostess offered, a deal which if I recall the other unions took.


"Do you feel workers should work for any wage and benefits a company feels is fair in their minds??"
Thats not the topic here, I will try to answer it though.
No, the unions should fight hard to get the workers the best deal possible.
Was the deal hostess made a good one? I do not know, what I do know though is the other unions involved accepted it so they must have thought it was fair which makes me wonder if Hostess was offering the same deal offered to all of the unions or if the bakers union got the short end of the stick when it came to the deal Hostess offered them.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #109)

Tue Nov 20, 2012, 01:18 AM

110. How about we start over??

Pabst has nothing to do with where Hostess finds itsself today.
One union group of workers did reject the company offer by 92%

This sub-thread started out by me questioning your use of the term 'one of the unions did torpedo Hostess'
I worked in a bakery for 20 years, I belonged to that same union during that time, I served on 5 contract negioations, I was a shop stewart for about 13 years. One must understand that the International Union represents the workers. They do not control them. I have seen Unions do stupid things and good things. So I am open to seeing a Union from both sides.
To blame the workers one must know that they were asking for too much. I do not know what the offer was, but to the workers it was too much of a giveback. I saw the Hostess value put at $950million to $980million. Hostess is carrying $850million to $900million in debt. That is NOT good management.
To ask for givebacks and the workers to accept them the workers need to trust management. The workers have seen how the company is being run and the workers found no trust. The management has changed 6 times over the last 10 years. Giving management pay raises when going into bankruptcy is not a good management decision.

And I do question someone that just takes management explanation for the downfall of a company.

As far as your last paraghaph, that is the topic. I have seen companies offer different union workers different packages. If you do not know the facts such a statement as 'torpedo' is offensive to union workers. To make such a statement you need to put yourself in their place and look at the history.

http://thinkprogress.org/economy/2012/11/16/1203151/why-unions-dont-shoulder-the-blame-for-hostesss-downfall/?mobile=nc

BCTGM members are well aware that as the company was preparing to file for bankruptcy earlier this year, the then CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000 and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256.

And this is not the only article questioning Hostess blaming the union workers

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #110)

Tue Nov 20, 2012, 01:50 AM

111. I do agree completely that the raises they got made no fiscal sense for a company

complaining that its going under and wanting to cut the other workers pay.
If one branch takes a cut in pay they all should take a cut.

Reply to this post

Back to top Alert abuse Link here Permalink



Response to smccarter (Reply #84)

Sun Nov 18, 2012, 05:06 AM

90. I clicked it so what part of it do you want me to focus on?

The part where it says that Hostess may have done this on purpose? If your answer is yes then a little news flash for you, I already said in this thread on other posts and even in other threads before this one days ago that its possible that they may have done that.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Angry Dragon (Reply #42)

Sat Nov 17, 2012, 05:55 AM

60. +1000

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #12)

Fri Nov 16, 2012, 09:40 PM

27. The union didn't cause this. They are just a handy scapegoat. n/t

Reply to this post

Back to top Alert abuse Link here Permalink


Response to eggplant (Reply #27)

Fri Nov 16, 2012, 09:46 PM

30. I will repost part of a question I posted a few days ago over this thing for you or

atleast part of it and that is...............the real question here is are the Hostess claims legit or not? If not then of course the union should fight for there workers however if the problems Hostess is facing are legit and not the fault of criminal activity nor them trying to screw the employees then what do you want them (Hostess) to do exactly?
Now, I personally do not have access to the internal books of Hostess so I do not know if they did this was the intent of screwing the workers, if you or someone else has such evidence then please by all means post it but until then I have to base my current opinion on the few facts I have.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #12)

Sat Nov 17, 2012, 12:18 AM

51. All indications were that Hostess was going under anyway.

Those final negotiations were to see how much they could milk the workers for before going down. Don't buy into the right wing meme.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #12)

Sat Nov 17, 2012, 08:18 AM

63. You're assuming they are selling brick and mortar assets...these are just brands/products...

Pabst is still a union made beer...

You can't assume the next shop to produce these brands wont be union...

And you can't assume they will be made in the same places...

I think the point is - unions have to compete with each other too...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #12)

Sat Nov 17, 2012, 06:59 PM

75. que?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #12)

Sun Nov 18, 2012, 06:36 PM

103. The union had nothing to do with it

it was the execs

Reply to this post

Back to top Alert abuse Link here Permalink


Response to niyad (Reply #5)

Fri Nov 16, 2012, 08:37 PM

15. Yep , this is what it's all about - vulture capitalism in it's bare form.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to niyad (Reply #5)

Fri Nov 16, 2012, 09:27 PM

23. Just a new paint job..minus the union, less benefits for workers, more $$ for CEO's

 

some rescue.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to crunch60 (Reply #23)

Sat Nov 17, 2012, 08:20 AM

64. Pabst is still union

Scratch that theory...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to hexola (Reply #64)

Sat Nov 17, 2012, 10:04 AM

67. Says it right on the can.

Yet, somehow it's affordable. Wonder of wonders.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to niyad (Reply #5)

Sat Nov 17, 2012, 02:22 PM

72. Yeah, I caught that, too

That pretty well ended my optimism right there. My only concern was for the workers who will lose their jobs. Maybe they can get hired back for a quarter an hour.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:18 PM

7. Private equity... I'm sure that will end well

I guess there must be a few more billions left to still wring out of what's left of Hostess.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to high density (Reply #7)

Fri Nov 16, 2012, 09:30 PM

24. It's the new bankruptcy scam. Well not so new, Romney has been doing it for quite a while.

 

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:25 PM

9. This just makes me sick!

 

Look at this:

“We have analyzed this opportunity very carefully for a few years now,” Metropoulos said in an e-mail. “Shedding the complications of the unions and old plants makes it even more attractive.”

I started thinking about Wall Street....I guess they no longer do M & A (Mergers and Acquisitions). Instead they load the target company with debt, management takes huge fees and salaries, then the company is forced to file bankruptcy so the New Buyer can buy the assets for pennies on the dollar and shed the UNION. I wonder what the Wall St. Boyz call this particular biz model? Robbery?

Getting rid of the UNION is what these business boyz think is just fun...a great benefit of filing bankruptcy.

I just heard a woman who is on the strike line at Hostess...she had worked there for over 30 years. She said the current offer from management was no pension, less pay, and pay more for health care. She said, we would basically be working for minimum wage.



Reply to this post

Back to top Alert abuse Link here Permalink


Response to femrap (Reply #9)

Fri Nov 16, 2012, 08:35 PM

13. Less pay, higher health costs, no pension - and yet - tons of idiots on yahoo/aol/local news sites..

have the NERVE to attack the workers! what bullshit!

the rich have enough - I sure wish a rich progressive, and there's thousands of them, would buy these companies.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Divine Discontent (Reply #13)

Fri Nov 16, 2012, 08:48 PM

19. I had to

 

give a link to a DU poster cuz he/she thinks what I say is

Bain and other private equity firms have been doing this for toooooooooooooo long.

These biz practices should be outlawed.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to femrap (Reply #19)

Sat Nov 17, 2012, 02:25 AM

57. yes! too many don't believe this is perfectly legal, and incredibly sleazy! How long before Mitt

is back at this game again? He could be making tens of millions per deal doing this, especially with his name now and quarter billion, there's no leveraged buyout he couldn't get approval for a loan from a bank, using the victim company's own value!

ugh! we're being eaten alive, and too many blame the workers who are having their legs and arms chewed off by the sharks!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to femrap (Reply #9)

Fri Nov 16, 2012, 08:37 PM

16. femrap, can you support that though with numbers?

I mean sure if you have proof that Hostess was lying through their teeth about their debt and or say some emails showing that was the plan all along then great, if not though its dangerously close to the area.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #16)

Fri Nov 16, 2012, 08:45 PM

18. I suggest you

 

read the recent article in Newsweek from David Stockman...this explains the biz model of Bain and their buddies (private equity firms).

http://www.thedailybeast.com/newsweek/2012/10/14/david-stockman-mitt-romney-and-the-bain-drain.html

Hostess is not a publicly traded company so I can't look at the balance sheet or anything else. All I see is that they are loaded w/ $860 million of debt.

M & A, I guess, is a quaint business model of yore.

After reading Stockman, you be sick as well...and that you tell me that I'm is

No one wants to see The Truth....it just hurts too damn bad.



Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #16)

Fri Nov 16, 2012, 08:55 PM

21. In addition to femrap's post, may I provide:

http://www.aflcio.org/Blog/Organizing-Bargaining/Hostess-Pattern-of-Mismanagement-and-Debt-Caused-its-Collapse

Yes, union busting, by vulture capitalists is tin foil.


http://dealbook.nytimes.com/2012/01/13/hostess-has-a-lot-of-debt-but-few-in-finance/

IN DEBT January 13, 2012, 2:12 pm4 Comments
Hostess Has a Lot of Debt, but Few in Finance
BY STEPHEN J. LUBBEN

Tim Boyle/Getty Images
Hostess Brands is back in bankruptcy again, arguing that its last filing did not really accomplish all that much, despite taking a rather long time.

In particular, the company has more than $850 million of secured debt outstanding. It has more than $180 million in accrued workers compensation liabilities. Another $50 million to $60 million is outstanding to trade creditors, plus $36 million in lease obligations. And now it is going to lay a $75 million debtor-in-possession loan on top of that to provide additional cash.

All this from a company with assets of just over $980 million.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to myrna minx (Reply #21)

Fri Nov 16, 2012, 09:30 PM

25. The problem which you are ignoring is

my original question of "can you support that though with numbers".

Edit: and by numbers I mean their own internal books and or emails regarding the companies complete finances.


Dont get me wrong please, I am not saying that you are wrong but rather that the fact is that without any evidence to prove otherwise its just speculation that the company did this all to bust the union.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to femrap (Reply #9)

Fri Nov 16, 2012, 09:42 PM

29. Big companies have been "softening" up workers over the years, to accept less and less

 

in the way of pay and benefits. So now the vulture capitalists are swooping in, declaring bankruptcy, restructuring , and the company rehires staff with all the wonderful pay and benefits of Walmart. wop te do! O boy, I got a job, doesn't pay the bills or feed my family, but hey, I got a job.

And our owners are getting richer.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to crunch60 (Reply #29)

Fri Nov 16, 2012, 10:10 PM

37. Many times taxpayers are rewarding them with economic development dollars

 

just to open their plant and do what capitalists do. The system has become tainted and corrupt to the benefit of certain specially connected cronies.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to crunch60 (Reply #29)

Sat Nov 17, 2012, 12:30 AM

53. There was a

 

study I read about lately where if one starts to get a negative return on their efforts, they walk away.

So if you have a shit job, do you eventually sabotage the employer in certain ways? Bad service. Destroyed product...oops dropped the box. Screwing with the computer system is fun.

I'm glad we're seeing certain Walmart employees walking out! And they are organizing for another walk out on Black Friday.

Believe me, employees are not soft....they're insulted, and some are desperate.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to femrap (Reply #53)

Sat Nov 17, 2012, 03:03 AM

59. Read my post carefully, I did not say employees are soft . It has taken a while for

 

people to get a clue what these large corporations were doing to them , giving them the royal shaft. Glad the Walmart employees are walking out.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to crunch60 (Reply #59)

Sun Nov 18, 2012, 12:58 AM

86. I understand your point....

 

it has taken a while for workers to realize how badly they have been treated. I believe the OWS Movement opened the eyes of many to that horrible treatment.

Hopefully the workers around the world will recognize how badly they have been treated and WALK OUT.

I think of the workers in China working 6 days a week, 12 hours a day, and living in small dormitory rooms with 3 beds/room. If the US hadn't had a Union Movement, we would be in the same dire straits.

May the Rich choke on their dollars, yuan, and euros.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to femrap (Reply #86)

Sun Nov 18, 2012, 04:57 AM

89. That's what I mean, little by little so we didn't notice, OWS is our hope for positive change,

 

especially for the up and coming young generation who are tomorrow's leaders. Never again be fooled by junk journalism, lot's of junk toys, the frivolous garbage of a consumer society. Overdosed and overstimulated and didn't realize what was hitting us. Yes, OWS has brought many people together. For the first time in a long time, people were communicating on a grand scale, face to face, that made a huge impact on the message they shared.

This video, China Blue, would be us in a Romney world, or so he would like.

I cannot look at Walmart, Target, Kmart clothing, without thinking of these workers. I choose my clothes and products carefully, make in America whenever possible. I excel at recycling. lol


Reply to this post

Back to top Alert abuse Link here Permalink


Response to crunch60 (Reply #89)

Sun Nov 18, 2012, 02:29 PM

98. Everyone should have to watch this

 

video. The Boss is a real piece of work. I'll name him Mi$$.

I stopped buying things made in China back in 1989 when Tiennamenn Square (sp?) occurred. Occasionally, I have to buy something such as a fan since China is the only country that makes them.

I always look at Country of Origin labels. I know where everything is made and I can spot trends as to movement of products from country to country. Sure am glad I bought a boatload of socks and shoes before manufacturing was shipped to China. I saw that coming.

Now, I'm to the point that I don't need anything except food and basics. In fact, I've been trying to sell things at the local Thrift Store and Consignment stores.

I recycle as well...that's the least I can do for Mother Nature. It's amazing how little trash I have.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to femrap (Reply #98)

Sun Nov 18, 2012, 03:10 PM

99. The young female worker said in one hour, she can make 1/2 yen=.06. Terrible

 

working conditions, basically, slave labor. Out of sight, out of mind, do we care? I do. I do not buy made in China because of these abuses.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:31 PM

10. Private equity firm that owns Pabst Blue Ribbon brewing wants to buy Hostess? wonderful.... not!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Divine Discontent (Reply #10)

Fri Nov 16, 2012, 08:49 PM

20. Thanks for

 

the laugh!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to femrap (Reply #20)

Sat Nov 17, 2012, 02:27 AM

58. ha! thanks. had to make it.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:32 PM

11. Twinkies will suddenly become ironic

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:35 PM

14. When I was a kid, our BIG treat was once a week when, on Friday nights, our family would

gather down in the family room to watch Star Trek (first run!) and have a snack of Pepsi and Ding Dongs. Sometimes it would be popcorn instead, but I REALLY loved the Ding Dongs!

My personal Hostess favorite is the chocolate cupcakes, though. I have only eaten them once in the past 25 years or so, because I don't eat much junk food anymore.

So for sentimental reasons (and to preserve American jobs) I would like to see the company bought and kept running rather than shut down.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 08:44 PM

17. I think we all know how this ends.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to bluedigger (Reply #17)

Fri Nov 16, 2012, 09:40 PM

28. I believe your post about sums it all up.

It really makes me sad to think of how the average person who worked hard for the company for years now will be the one getting screwed where as those on the higher corporate level will probably never have to pay for their decisions.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #28)

Fri Nov 16, 2012, 10:06 PM

35. Employees have invested their lives

 

Most of the others are short timers that invested a few bucks and because they own the club they will get rich, and the employees and taxpayers will get the shaft. OWS is needed more than ever but the PTB was afraid of them and thus un-Constitutionally made their demonstrations illegal.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 09:50 PM

31. I hope someone saves these brands

 

It would be a shame to see them go.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 10:00 PM

33. “Shedding the complications of the unions"

Fuck them. I'll never buy their stuff again.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 10:02 PM

34. This is what the CEO and banksters had in mind

 

from day one imho. Force the union to go on strike and then claim it must go into bankruptcy. Edited to add: Actually they made crappy unheathy products and on purpose too. They didn't keep up with what the public wants. The employees only did what they were told.

These greedy thieving bxstards wanted deals, and to break the unions and to force the costs on to taxpayers. If the USA could just deport/outsource the Wall St financial sector to China the USA would be better served. They connive on ways to make money while doing nothing that is productive or beneficial except to those in their own little club.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Cynicus Emeritus (Reply #34)

Fri Nov 16, 2012, 10:06 PM

36. Thats certainly possible Cynicus but without access to all the emails

from and to the ceo we will never ever know for sure.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #36)

Fri Nov 16, 2012, 10:59 PM

43. If it looks like a duck, and it quacks like a duck, it is unlikely to be a turtle. nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to AdHocSolver (Reply #43)

Fri Nov 16, 2012, 11:15 PM

44. Unless of course its hunting season in which cause it might be unwise to assume its a duck

as other ducks find out much to late.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cstanleytech (Reply #36)

Sat Nov 17, 2012, 10:27 AM

69. Where have you been for the last 20 years?

This is SOP for US business. Fuck your "e mails" from the CEO. Go back to your cubicle

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Teamster Jeff (Reply #69)

Sat Nov 17, 2012, 01:04 PM

70. Do you think the Teamsters were wrong to agree to the contract?

 

It doesn't sound like they were in agreement with the Bakers union. Not a wise-ass question - but would really like to know

Reply to this post

Back to top Alert abuse Link here Permalink


Response to WinniSkipper (Reply #70)

Sat Nov 17, 2012, 06:56 PM

74. A majority of the Teamster members voted for it so it not wrong

As far as what concessions they gave I don't know the details. I read that the Teamsters position on the Bakers strike was that the Bakers should sign but that wasn't for the Teamsters to decide. It's not unusual for different Unions or even different Locals of the same Union to disagree about things and play politics. It was a messy situation that was going to end badly for all the workers in the long run anyway so its not surprising that there was some frustration and bitterness.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Teamster Jeff (Reply #74)

Sun Nov 18, 2012, 01:53 AM

87. Agree

 

This was not going to end well either way.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Cynicus Emeritus (Reply #34)

Sat Nov 17, 2012, 07:46 PM

80. I agree

This is the EXACT SAME PLAN THEY HAD FOR GM..
I am surprised no one has compared the two yet.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 10:12 PM

38. The hipster ho-ho crowd will be pleased

n/t

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 10:13 PM

39. Yes, save my Wonder Smart!!!!

Hmmm, I wonder how long bread will survive in the freezer. I may need to stockpile some loaves.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 10:15 PM

40. ehhh. Fuck.... you....

“Shedding the complications of the unions and old plants makes it even more attractive.”

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Fri Nov 16, 2012, 11:28 PM

47. “Shedding the complications of the unions and old plants makes it even more attractive.”

wrote Mr. Metopoulos. guess its ok if another union busting business purchases Hostess once the workers have been thoroughly damaged. Or did I miss the part where he talks about bargaining in good faith with the baker's unioin?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to mulsh (Reply #47)

Sat Nov 17, 2012, 02:21 AM

56. But - as far as I can tell, Pabst is still a union made beer...

So - not sure that comment should be taken to mean "we dont have to deal with the unions"

More like - this is a "new deal"...the complications were with the old business vs the union.

If the brands are sold - and the production moved to new/different plants...then they will have, effectively, left the old union issues behind.

But - that doesn't mean they wont have to deal with unions...just not these unions.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Sat Nov 17, 2012, 01:04 AM

54. Bumble Bee Tuna

I usually don't buy brand-name items, but I found Bumble Bee 'solid white albacore tuna' on sale and picked up a couple of cans. It didn't even pass muster as cat food. Blech!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Sat Nov 17, 2012, 02:03 AM

55. Isn't Pabst still a union beer?

Pabst was basically a dead brand - but, for sure - it has been revived - and as mentioned upthread...is being marketed to hipsters effectively.

Its right up there with all the other taps at my local fancy restaurant/pub.

I love micro/craft brewing - but there is shit tons of sugar in that stuff...really not that good for you. I might still have one or two a week as a treat.

PBR is almost "light" by micro standards...and is only 20 bucks for a 30 pack.

But point is - the Pabst case might show that this isnt about the Union...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)


Response to octoberlib (Original post)

Sat Nov 17, 2012, 07:22 PM

79. Who wants these twinkies?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to octoberlib (Original post)

Sun Nov 18, 2012, 01:09 PM

95. Metropoulos seems not to have looked at this very close

Hostess was, as we say, Bained to death: private equity firms who saw Hostess as a cash cow - which it was - bought the company and put most of their revenues in their pockets. The sharks claim Hostess wasn't profitable; would it have been without management fees?

This deal feels to me like the PE firm is going to "modernize" Hostess by selling the bakeries, distribution centers, outlets and distribution and going to an all-contract setup. Since Hostess' bread lines did a lot of contract baking themselves (I used to go to the Wonder/Hostess outlet in Fayetteville; they always had carts of Walmart and Food Lion house brand bread there) and the pastry lines may have done the same, how this is gonna work remains to be seen.

The old-bakery comment is good too; private equity ownership almost inevitably leads to facilities falling apart.(In Barbarians at the Gate, John Greeniaus described Ross Johnson's plan to modernize the Nabisco bakeries as wasteful spending, and that's really the mindset of all these sharks: a nickel not given to the sharks is a nickel wasted.)

The best thing these assholes can do is to find another baker to buy outright Hostess...and because of antitrust concerns it probably shouldn't be Grupo Bimbo.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread