Really, I want GM to fail?? Why is it that we only own GM vehicles, even one of our boat motors is a Chevy, the other is a Chrysler.

There is nothing wrong with the vast majority of corporations in the US, they are good for the country. The only ones I have a problem with are those who exist only because the government has propped them up.

You are the pathetic one, you paint everyone who opposes you with the broad brush of liberalism.

 

SHIT FOR BRAINS; ,,,I see that you learned some new words,,although it means nothing in this instance,, as usual.

The horseshit that you are stuttering and stammering about, has nothing to do with Hostess and their downfall,,your vulture capitalism theory is full of shit.

Ripplewood Holdings was founded by Timothy Collins, a major Democratic donor who wanted to invest more in companies like Hostess with major organized labor groups.

The behind-the-scenes tale of Hostess and Ripplewood may be the opposite of a project to buy it, strip it and flip it. When Mr. Collins originally looked at Hostess, he was trying to make investments in troubled companies with union workers. He was convinced that he could work with labor organizations to turn around iconic American businesses, and he hoped Hostess would become a model for similar deals.

The unions brought down Hostess, along with many other businesses and companies in this country.

Even amidst a sputtering economy, the increase in commodity costs, pressure from competitors that were consolidating and out-of-whack labor costs,, Ripplewood continued to throw good money after bad trying to keep Hostess from faltering,, according to many observers,,,,Hostess’s fate seemed assured from nearly the beginning....

Yet you simplistic leftists blame it on ''Vulture Capitalism''...

The unions that are in bed with leftist politicians, that have led to the demise of Hostess are totally to blame, they have done more to hurt this country and it's economy, than anything that I can of at the moment..

 

Well asshole as usual you are dead wrong. You got your information from Breitbart.tv a notorious den of liars.

Ripplewood was not the only investor. Silver Point, a notorious vulture capitalist firm, was also involved as was Monarch Alternative Capital another vulture capital firm.

These firms were so slimy that they stole over well over 150 million dollars from both the Teamsters Union and BCTGM union when they swiped the money that was being taken from workers paychecks that was supposed to go into their respective pension funds. They were borrowing it said the company management. Right before they filed bankruptcy. Meaning they'd never have to pay it back.
Pile that on top of the 110 million that the workers gave up in wage and benefit concessions in 2004-2009 bankruptcy and you can see who got screwed the most.

Estimates of Hostess brands trademarks have placed the Hostess brands trademarks alone at a value between $150 million to $250 million dollars. Plus the sell off of all the bakery factories, trucks and other company infrastructure. I would venture to guess that the sell off will come up around 200 million or so short of the total debt. Guess who just ate all the remaining debt. The workers in the unions.

You can best bet those slimeballs vulture firms won't be losing any money on this.

Sometimes it pays to use your brain. You never ever seem to be able to do so.

 

SHIT FOR BRAINS;

Hostess has been in financial trouble for years, this was inevitable,,no matter who took control of the company.

Venture Capitalism and private investments kept this company afloat for the past 7 or 8 years.

Unions that are incapable of living in current times, incapable of understanding that this a culture of competitiveness and need to adapt to the current fiscal needs that a company is required to adjust to,, will lead to the down fall of any unionized company.

Hostess was finished before venture capitalists tried to keep it afloat. Hostess employees should thank their luck stars that venture capitalists wanted to invest in Hostess and try to save their jobs, for a short time.

Venture Capitalists deserve to get a return on ALL of their investments

Hostess has roughly $2 billion in unfunded pension liabilities to its various unions' workers, will they get it,,that's up to the court system..

Welcome to the private sector,,where the strong survive, and the weak are liquidated,,the free market weeds out the bad apples,, where as the government burns through our money, picking winners and losers at the tax payers expense.

 

Even if your gross incompetence helped drive the company into bankruptcy?

 

If management had been more competent there was a strong chance it would have survived.

And piled couple of hundred million of dollars more debt unto the corporation.

BULLSHIT. They didn't do it to keep it afloat they did it to rip off the workers and rape it for everything they could get out of it. At the end Ripplewood seemed to be trying to salvage it or so that seems to be from the article your quoting. Yes I found that one as well. Silver Point and Monarch wanted out. Now for a quote from the article you didn't seem to want to put in your post

From external article that you earlier quoted part of....

Read the last line of the above quote asshole.

Sure they deserve a return on their investment. But if the object is to rape a corporation for it's assets is it morally right to do so when it effects thousands of people? The two stake holders (Silver Point and Monarch) finally decided on rape.

Pension liability is not even a consideration in a liquidation bankruptcy. The workers get screwed period. Unless the Pension Benefit Guarantee Corp can pick up the tab. That's our tax dollars BTW.

This whole thing is incompetent management trying to blame Unions for their woes.
And the corporate blow job givers like you go against your fellow Americans.

So lets see what the score is here. 1. Workers pensions are unfunded by 2 billion dollars. 2. Company borrows 180 million dollars of pension paycheck withholding's then files bankruptcy. 3. Workers had already given up $110 million in wages and benefits and hostess fired around 10000 workers from 2004-2009. At lets say an average salary of those fired workers of 30,000 dollars per year per each of 10000 workers thats a corporate savings of 300,000 million dollars per year just in those savings (it was probably higher than that). Then the savings from closing 9 plus plants (building maintenance, heat, electricity, water, truck fuel etc etc).

Yes management did screw the workers and screwed them hard.

Then the sad part is investors rape the company and walk away with millions while the workers and US taxpayers get taken for over 3 billion dollars. Enjoy your corporate cock sucking duties Ace.

 

Hostess Executive Bonuses: Twinkie-Maker To Seek Approval For $1.8 Million In Bonuses During Liquidation

http://www.huffingtonpost.com/2012/11/29/hostess-executive-bonuses_n_2210515.html

 

That is about $94000 a year for each one of the 19 people. Do you know what they were making before the company went under?

How much does a welfare case like you collect each year for sitting on your lazy ass and doing nothing?

 

Here let me help you out there you stupid and ignorant (two different things) brainwashed parrot.

 

As far as I am concerned better them than the unions. The unions finished off that company they deserve NOTHING and I am glad they lost their jobs and any retirement they may have had with Hostess. Let them stay home for the holidays and bake for family. LOSERS.

 

I wish I cared so passionately about Twinkies...just think how much fun I'd have conversing with everyone *le sigh*

 

Yeah you fucking retard, it still adds up to $94000 a year for each one. Or did you flunk math as well?

So again, how much welfare do you collect from us tax payers each year for sitting on your worthless lazy pathetic ass STUMBLER???????

 

I knew I should have included the definition even though I'm pretty sure you can't read it.

None.

 

18,000 on unemployment for Christmas...

 

Hey is that not one of the Hostess bakers at home baking for the family LOL LOL

 

While the vulture capitalists and the managers walk off with millions.

Gotta admire those who did not cave in because if they did the vulture capitalists and the bosses would have sold them out anyway.

 

Twinkies will be back.

They are far too popular.

 

Yes, Twinkies will certainly be back. Hopefully, they'll be produced with non-union labor. Maybe then, those companies will survive this time.

When Hostess went under, they were dealing with over 300 labor union contracts from twelve different unions. There were contracts which prevented different products from being hauled in the same truck. So if they had half a truck load of one product, plus half a truck load of a different product going from a bakery to the same wherehouse, they had to be hauled in two different trucks!

It's no wonder they went under. Hostess tried for two years to sell off some of their more popular brand names without success. No one wanted to buy these popular brand names if they came with these poisonous union contracts. Now that they're liquidating, and the union contracts have dissappeared, they've had several offers to purchase some of their brand names. If these executives can successfully liquidate this company, and get all the value they can out of the company's assets, then they deserve some big fat bonuses. Better them than the greedy, vulture union thugs who destroyed the company.

 

Well, if you are trying to prove how retarded you are, you are doing a very good job.

Only a fool like you would criticize people for WORKING and earning money.

Perhaps a fool like you thinks these 19 people should just go on strike too?

You are just a no-job welfare scumbag who is jealous of people that get up every day and go to work.