But I actually see a silver lining to this. And that is because of the elections, Mitt Romney, and Bain the majority of Americans are aware of vulture capitalism and can see what's really happening here. Especially the parts about loading the company up with debt so they could triple the salaries of top management.

And since its their Twinkies at stake this time they are none too happy about it.

That's only the tip of the iceberg of things tenguy can't admit.

 

I see. So if you invest $1 million, take out $10 million, in the course of which the company is liquidated and all of the employees fired, you think that's a GOOD thing, right? I mean, that's AMERICA, buddy. Sorry it didn't work out for the poor schmuck who worked there for 20 years. Oh, and did I mention that we're going to blame HIM/HER for what happened to the company?

 

Care to back up those allegations with cold hard facts? The assets of Hostess are valued at less than their total debt. In a bankruptcy, all assets are frozen, the company can not sell them without permission from the courts trustee(s). When an asset is sold, the revenue is put into the company treasury and the court decides how it is to be distributed.

The brands are considered assets, therefore if the total assets exceed the liabilities the owners will get the surplus, less the court costs, including trustee fees. It is a very rare occurrence when the owners actually get a dime.

You are simply trying to paint a white horse black.

BTW, the schmuck who worked there twenty years was paid for his work, he was not a slave.

 

Have you been asleep at the wheel when vulture capitalism was explained here in this thread. At least twice.

 

No I have not, but that is not germane to the bankruptcy, you will fail if you try to make money in a bankruptcy.

In the previous discussions I clearly acknowledged that Hostess was mis-managed, what else would you like?

 

I wasn't just mismanaged. It was a collusion between the management that the vulture capital corp. installed and themselves. It's one reason why executives are given that huge salary raise just before the bankruptcy filing. It buys their sweet sweet silence. The bankruptcy is just the final act in the play. I'd love to get a look at the books to find out how many millions were added to Hostess's debt in corporate consulting fees charged to them by the vulture corporation.

If your still skeptical on the consulting fee angle click this link and read the portion of the page in the big yellow box area.

http://www.massresistance.org/romney/ampad_062607/index.html

 

You are throwing accusations around like they're confetti, the books in a bankruptcy are public, they are a court record, but we are still looking at easily traced transactions. If you have something to submit other than pure conjecture, I would love to see it.

In the meantime the company is in bankruptcy, if they had unfair billings or preferredl payments within six months of the filing, they must be paid back. You really ought to look into the law.

 

Perhaps Obama should just bail them out like he did with GM?

We (the tax payers)didn't get to see GM's books. But the tax payers sure got the bill....

 

NO Obama should go after the CEO and the Venture Guys like he did the Bankers...OH wait, he did not go after the Bankers WHO FUCKED the world over....wonder why...

OH yeah, he in cohorts with them...

 

CAN I CALL 'EM, or WHAT?!?!?!

I wrote this the other day:

Well, take that, conservitards! I might be a Democrat Liberal Moonbat now, but I do have to gloat just a little bit here. Everyone's always telling me I'm nuts for being an Ayn Rand fan, but is this right out of Atlas Shrugged, or what?

I told BigTrobbing and all the rest of you that President Obama would pull a Directive 10-289 and tell that judge to tell the Hostess Cake company that it can't go out of business. What you're not making money? Tough. You can't make a profit? Tough. Creditors will get screwed? Tough. Investors will get screwed? Tough. You have to stay open, and the union workers get to keep their jobs, and everyone gets fucked, and that's it.

That's how it works. That's what we chose. By a decisive majority, a landslide victory, two Tuesdays ago. When logic doesn't work, when economics don't work, when common sense doesn't work, issue a directive. From the heart. For the public good.

A is B. Zero is One. Truth is Falsity. And all the best that is within us is destroyed.

Thank God for President Obama! Thank God for Democrats! Thank God for Progressivism!

 

LOL...the judge just told them to resume talks for a while...
but I agree you did say that and I remembered...

 

Well, you are aware that the whole Hostess thing is a smokescreen put out by the Presidents Underground Support Society of Youth?

They picked this story to divert attention from the fact that FEMA'S response to Sandy was much worse than it's response to Katrina.

I mean, if Romney would have won we'd be hearing about how people on Long Island and in New Jersey are Still without power, and how that greedy rascal was working the deal so his friends could make millions off of it.

And how he made a few billion off of the rape of Hostess.

We are truly fucked.

 

Who the fuck do these one percenters think they are? They think they can just go out of business whenever they feel like it? You think they can just decide to let a company fail and padlock the doors! No! Directive 10-289! They have to stay open. We can't have republican teabaggers sandbagging the next four years and robbing a great president of his legacy!

I said it before and I'll say it again: The republican conservitard teabaggers have to get the fuck out of the way and let President Obama run things the RIGHT WAY!

 

They did? How did I miss that?

I missed it because it didn't happen. The GM bailout was probably the best single investment the U.S. government ever made.

 

Because you heard it on Fox right? Right?

View attachment

 

Did you happen to see this?

Chrysler to add 1,250 jobs (and they're not in China)

http://www.usatoday.com/story/money/cars/2012/11/15/chrysler-ram-michigan-us-jobs-bailout/1707661/

 

General Motors Is Headed For Bankruptcy -- Again

Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.

It’s doubtful that the Obama administration would attempt to sell off the government’s massive position in GM while the stock price is falling. It would be too embarrassing politically. Accordingly, if GM shares continue to decline, it is likely that Obama would ride the stock down to zero.
GM is unlikely to hit the wall before the election, but, given current trends, the company could easily do so again before the end of a second Obama term.​

http://www.forbes.com/sites/louiswoodhill/2012/08/15/general-motors-is-headed-for-bankruptcy-again/​

 

Best single investment huh?:-~ How much money do you have invested in GM????????


General Motors Is Headed For Bankruptcy -- Again





2013 Chevy Malibu

President Obama is proud of his bailout of General Motors. That’s good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market.
Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.
Move up http://i.forbesimg.com tMove down
Save General Motors From Bankruptcy, Vote For Mitt Romney Louis WoodhillContributor
Leadership, Not Another Bailout, Will Fix GM (And No, It Is Not Going Bankrupt) Joann MullerForbes Staff
For GM, Bankruptcy Talk Is Its Own Fault Micheline MaynardContributor
Chicken Little's Second GM Bankruptcy: The Gold Medal For Silly Op-Ed Pieces Bob LutzContributor
Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.
It’s doubtful that the Obama administration would attempt to sell off the government’s massive position in GM while the stock price is falling. It would be too embarrassing politically. Accordingly, if GM shares continue to decline, it is likely that Obama would ride the stock down to zero.
GM is unlikely to hit the wall before the election, but, given current trends, the company could easily do so again before the end of a second Obama term.
In the 1960s, GM averaged a 48.3% share of the U.S. car and truck market. For the first 7 months of 2012, their market share was 18.0%, down from 20.0% for the same period in 2011. With a loss of market share comes a loss of relative cost-competitiveness. There is only so much market share that GM can lose before it would no longer have the resources to attempt to recover.
To help understand why GM keeps losing market share, let’s look at the saga of the Chevy Malibu.
The Malibu is GM’s entry in the automobile market’s “D-Segment”. The D-Segment comprises mid-size, popularly priced, family sedans, like the Toyota Camry and the Honda Accord. The D-Segment accounted for 14.7% of the total U.S. vehicle market in 2011, and 21.3% during the first 7 months of 2012.
Because the D-Segment is the highest volume single vehicle class in the U.S., and the U.S. is GM’s home market, it is difficult to imagine how GM could survive long term unless it can profitably develop, manufacture, and market a vehicle that can hold its own in the D-Segment. This is true not only because of the revenue potential of the D-Segment, but also because of what an also-ran Malibu would say about GM’s ability to execute at this time in its history.
GM is in the process of introducing a totally redesigned 2013 Chevy Malibu. It will compete in the D-Segment with, among others, the following: the Ford Fusion (totally redesigned for 2013); the Honda Accord (totally redesigned for 2013); the Hyundai Sonata (totally redesigned for 2011); the Nissan Altima (totally redesigned for 2013); the Toyota Camry (refreshed for 2013); and the Volkswagen Passat (totally redesigned for 2012).
Automobile technology is progressing so fast that the best vehicle in a given segment is usually just the newest design in that segment. Accordingly, if a car company comes out with a new, completely redesigned vehicle, it had better be superior to the older models being offered by its competitors. If it is not, the company will spend the next five years (the usual time between major redesigns in this segment) losing market share and/or offering costly “incentives” to “move the metal”.

http://www.forbes.com/sites/louiswoodhill/2012/08/15/general-motors-is-headed-for-bankruptcy-again/

 

Sorry Randy, I didn't see you had already posted that before I did as well...

 

+1 (on GM's imminent bankruptcy)

I am a reformed and reconstructed Liberal Moonbat now, and I would never dream of corrupting my Belief with news from those evil Murdoch papers.

But I do have a memory.

And in the distant past-- oh, say, last June or July-- I dimly recall reading a WSJ story that quoted several high-ranking GM executives lamenting the public relations disaster that has become of the U.S. government's takeover of General Motors Corporation. Seems they were having trouble attracting private investors, with the stigma of being known as "G.M." as in "Government Motors," and being ruled by fiat and by haivng zero latitude to make necessary management decisions. Seems they were begging the government to let them buy back the U.S. stake in G.M.

A great investment, my fellow moonbat Kimiko claims?

Maybe. But not according to G.M. And the government has refused to sell its stake back to General Motors, because the U.S. taxpayer would take a huge loss, and a buyback would release G.M. of its obligations to protect U.A.W./C.I.O. jobs (the preservation of which, after all, was the point behind the government buyout, because a Chapter 11 reorganization would have released G.M. from its contractual obligations to the unions).

So, G.M. signed its soul with the devil, according to the evil Murdoch papers, preserving the unions while forcing the layoffs of thousands of non-union management and engineers, and forcing the closure of hundreds of dealerships thus reducing G.M.'s retail market, and now with G.M. almost fatally crippled, the devil will not release G.M. from its pact.

Which means four things:
1. G.M. IS going to go bankrupt;
2. It will be much worse than it would have been if it had happened four years ago;
3; The taxpayers will be fucked for every penny they have "invested" (they never would have received a dividend, but now they will be losing the principle besides);
4. The unions will be preserved by directive, the same way the Hostess workers are being preserved by directive, which means G.M. will be sucked dry until it dies.

Long live the Democratic Party! Long live President Obama!