An American icon,,moving to Mexico??

http://news.yahoo.com/twinkies-maker-hostess-plans-business-005051947--sector.html

Obamacare anyone???

 

The trouble with you conservitards is you refuse to acknowledge reality. The corporation was raped Bain style. What the Unions gave back didn't matter. They were going to close it down anyway. They had made their money by screwing the workers over. A bet I'd win says that the controlling companies made millions off of raping Hostess.

I love how a supposed patriot is only a patriot when it comes to a corporation screwing it's workers over. Rather than giving even a small damn about the true Americans who worked for the company.

 

SHIT FOR BRAINS,,,,how much should a box of twinkees cost the consumer??

 

Listen asshat you haven't made one point in this whole argument that was correct. You've stated the unions pushed the company when it has been proven the workers were getting screwed. Go suck some more rich mans dick. Don't forget to swallow.

 

Answer the question shit for brains,,answer the question.......

 

Who gives a fuck. For you 100 dollars each. For everyone else $1.59 for a two pack. You like sucking rich man's dick so much you get to contribute more to their already stuffed bank account.

 

I give a fuck,,ALL operating costs get passed down to the consumers,,whether it is employee wages,,taxes,,ingredients,,healthcare costs,,so on and so on the consumers pay for ALL of that.

Obviously you have no idea what it actually entails running any business,,I'd venture to bet that you could fuck up running a neighborhood lemonade stand, on Saturday morning..

 

This is where you are sadly mistaken. I know all too well what it costs to run a business. Where you seem to be at a loss here is understanding that the Investment capitalists who "saved" hostess from bankruptcy last time were the ones who ultimately set out to destroy it in order to squeeze every penny out of it. All in order to line their own pockets and fuck everyone else over. To buy Hostess they took out loans which they then transferred onto Hostess. This is called saddling the target with the debt. Then they ask the workers for wage and benefit concessions which they then pocket. They also charge the target corporation with millions in deal handling management fees. Which they extract before the corporation even makes a debt payment on the debt the investors saddle the corporation with on the buy out. A reason for further management/consulting fees are made anytime profits show up on the books. Just before the bankruptcy the investors give the officers and management a big raise to keep them silent. No matter what the workers give in concessions this time around though the corporation is doomed. The investors get to walk away with fatter wallets while the workers get screwed. Hell they'll even raid the workers pension fund if they can get away with it.


But wait there's more. You wonder why then do capital companies, like GE capital, loan money to those investors to buy the companies knowing in the long run they're going to run it into the ground. There's an answer to that. Write offs. The company that the loans the money gets to write that off and lower their tax bill. Who ultimately gets to foot the bill for all this. You and me JQP tax payer.

There's greed and then there's over the top unrepentant screw everyone else greed. What you saw with the Hostess deal is the latter. Remember Mitt Romney was a pioneer in just this sort of corporate rape.

I hope you actually read this and understand it but I highly doubt you will.

 

If the investors bought the stock at fire sale pricing, then your theory might work when the assets are liquidated. For the investors in Hostess Brands to reap a windfall they will need to generate more cash from the sale of the assets, less the amount distributed to creditors by the trustee, than they have invested.

This is a very high risk game, rarely do investors gain in a bankruptcy. This was my main complaint on the GM/government sham bankruptcy, the investors and bondholders got totally screwed. The discarded dealers and their employees got totally screwed. The employees, vendors and retirees of the closed divisions got totally screwed. But everyone seems to think that it was a great job of "saving" an iconic company, bullshit.

If the investors get 1/10th of their investment back, I'll be surprised. Write offs are only good IF you make money.

 

You still don't understand. The investors made their millions in management/consulting fees. They don't give a rats ass how much the ultimate loan originator GE capital gains from the sell off it still won't be enough to cover the debt. Hence there being able to write it off. You have to kind of look at those 2 hedge funds and the investment firm Silver Point Capital as middlemen. They practice a Bain like takeover system which is bleed them dry, into Silver Points Capitals wallet, then put them into bankruptcy. It's a hi finance hijinks and the union contracts are not what puts the company into it's financially shaky ground. It's the collusion between the investment firms and the management of the target corporation that does all the damage. In a way that adds debt to the corporation through those legal but suspect consulting fees. The unions could have settled for minimum wage and Silver Point would still have found a way to make it go bankrupt. They had bled it for all it's worth in every other way and the only money left to be had was to screw the workers out of their wages so they could pocket that as well.

What I'm trying to tell you is that as soon as Silver Point became involved it was only a matter of time till they killed it. It's what they do. Ala the Bain Capital take over and kill it model. If you want an example of this take a look at Guitar Center music stores owned by Bain Capital. They are on the verge of killing that right now and it's not even unionized.

 

You must be smoking something.

Investor= One who buys an interest in a corporation.
Consultant= One who gives advise to a corporation, usually for a fee.

In the case of Hostess Brands, please show the evidence that proves that they are one and the same.

Do you know how many shares of stock each investor owned? Do you know the buy prices on those shares? Do you know what the same shares were sold for, if they were sold? Do you know the earnings per share during the term that the "investors" owned the stock was?

If you claimed that some wily investors bought stock when the prices were low, then manipulated the company to give the appearance of profitability, then sold the stock at inflated prices, I would buy into your theory that the investors ripped off the company.

Otherwise, you are blowing smoke.

 

Hostess Brands was not a publicly traded company. I also made a mistake it is not Silver Point Capital that did the dirty work is was Ripplewood Holdings.

 

A privately held corporation still has shares of stock.

 

I think everyone involved in this has something to be happy about. It is a win-win-win situation for all parties.

The Unions are happy because they destroyed an 80 year old company. No doubt they are thrilled about that victory.

The Union workers are happy because they don't have to work now, which is something they despise doing anyway.

The owners can liquidate and spend the rest of their lives enjoying their money without having to deal with the Union thugs anymore.

The comsumers will be happy because the more popular Hostess brands will be bought up and produced by non-union labor for a cheaper price.

The non-union labor that will eventually be hired to produce the surviving brands will have jobs, which is something they like.

Everyone should be happy.:grin:

 

Those dirty rotten bastards.


Well, it's all in the hands of a judge now. And you can bet your booty President Obama's already been on the phone and told that judge to order Hostess Cakes to stay the fuck open and give those jobs back to 18,500 essential workers come hell or high water, because corporations aren't investors and greedy owners, they're workers. No one bakes bread without bakers, and that's it.

We'll just have to ORDER that factory to stay open and stop plundering the people to line their own pockets.

 

I don't think anyone appreciates you making light of so serious a thing. You anti-labor anti-union child-slavery teabagger thugs just don't get it, do you? Those 18,500 workers have children! You want them to starve?

This sets a bad precedent in a time of national emergency with a fiscal cliff and everything. American corporations can't just close down and go out of business whenever they feel like it! Damn it, we need a law that says it's illegal for rich fat cat corporations to go out of business! They have to stay open, and that's that.

 

I just love it.

A formerly great company closes it's doors.
18,500 people loose their jobs.
No more Twinkies.

And the vermin just can't wait to point fingers, talk about each others mommas, and claim the moral high ground.

And the vermin are spinning their bullshit and lies faster than politicians at a rally.

I have not seen a single objective fact relevant to the reason(s) Hostess is closing it's doors or who should be blamed for it.

We are truly fucked.

 

I lost interest and sympathy when Gibson Guitar Company was forced to stop making electric guitars because they infringed on Madagascar and India's labor laws according to Obama's pinkie-ring thug union pals. I was a republican/conservatard/teabagger then.

I am a democrat/liberal/moonbat now.

And I don't give a damn about the owners of that cupcake factory. It has to stay open, and that's it, and I've been saying ever since the election that we need a law that makes it illegal to go out of business and close down factories.

I do agree on this: we are truly fucked.

 

So siddown and quit trying to score points.