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Thread: The street value of Twinkies after the company closes

  1. #51
    Delerium ex Ennui Xelebes's Avatar
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    My dad has a saying: unions happen to bad companies.

  2. #52
    volitare nequeo AW Moderator veinglory's Avatar
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    The executives got an 80% pay hike in 2011, while in Chapter 11 bankruptcy.

    Wow.

  3. #53
    All Living is Local Don's Avatar
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    Quote Originally Posted by veinglory View Post
    The executives got an 80% pay hike in 2011, while in Chapter 11 bankruptcy.

    Wow.
    That's unconscionable, IMO. WTF doesn't Chapter 11 require a freeze on compensation, or a COLA limit?
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  4. #54
    volitare nequeo AW Moderator veinglory's Avatar
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  5. #55
    "Assume Good Intentions" SuperModerator Williebee's Avatar
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    Quote Originally Posted by veinglory View Post
    That seems a pretty astute summation. Thanks!

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  6. #56
    Seen 'em come, seen 'em go Gravity's Avatar
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    As a college kid I once pulled the pink coconut covering off a Sno-Ball so I could eat the cake first, and the covereing next. Lo and behold when I did I found the cake was really just an upside-down Hostess Cupcake, sans icing.

    Right then two things occurred to me: a), I guess this is where the cupcakes with dings and blemishes end up, and b), this is a pretty slick way use "everything but the squeal" (as we say down South); with thinking like this, these guys will always make money.

    I appear to have been right about the first point, and wrong about the second.
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  7. #57
    Psychopompous AW Moderator RichardGarfinkle's Avatar
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    Quote Originally Posted by Gravity View Post
    As a college kid I once pulled the pink coconut covering off a Sno-Ball so I could eat the cake first, and the covereing next. Lo and behold when I did I found the cake was really just an upside-down Hostess Cupcake, sans icing.

    Right then two things occurred to me: a), I guess this is where the cupcakes with dings and blemishes end up, and b), this is a pretty slick way use "everything but the squeal" (as we say down South); with thinking like this, these guys will always make money.

    I appear to have been right about the first point, and wrong about the second.
    That particular trick isn't unique to Hostess or indeed unique to bad baked goods sources like Hostess. A lot of decent bakers (amateur and professional) will have a small basic set of recipes that they then vary with different shapes, icings etc.

    Since the actual experience of eating the confection has so many different components that are meant to work together the same cake under two different icings need not be the same experience for the eater.
    Sometimes, what people need is to have things asked of them.




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  8. #58
    Sockpuppet Richard Paolinelli's Avatar
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    Just got back from the store, the guy in line behind me had bought every package - boxed and individual wrapped - twinkie in the store. Said he had gone to the Hostess store across the street and they had been cleaned out of every ding dong, cupcake, twinkie and ho-ho in the building.

    I confess I consume the occasional Hostess product from time to time, but I have to shake my head at the Hostess hording going on out there.

    Then again, I have a friend in Mexico that gets me Delaware Punch since I can't buy it here in the states anymore so who am I to judge, lol.

  9. #59
    the philosophical pegasus Shadow Dragon's Avatar
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    Jokes on the hoarders when their twinkies go bad in a month or so. Unless they decide to eat that many in a month, which certainly isn't a good idea either.
    "There is only one good, knowledge, and one evil, ignorance." - Socrates

  10. #60
    Sockpuppet Richard Paolinelli's Avatar
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    Quote Originally Posted by backslashbaby View Post

    Why Obamacare? Particularly with a unionized workforce, the cost of offering insurance is absolutely through the roof. That was in play long, long before Obamacare.
    Because Obamacare allows the government to hammer a business with back-breaking fines if the business does not offer what the government thinks is right.

    I'm sorry, but I have yet to meet a bureaucrat in any state or country who had the first clue about what they were doing and I prefer to trust my own judgement when it comes to matters involving my money, my business and my personal life.

    And it will only get worse, so why would anyone in his/her right put up with it. Get out while you can and since "the people" have spoken that they want Big Government, then by all means let Big Government figure out how to help all the newly unemployed and underemployed that will come along as businesses figure out it isn't worth it anymore.

    You are going to see a lot more Hostess-type situations as well as businesses deciding to cap an employee's weekly hours at 28 (those 40 Denny's in Florida, for example) to avoid the financial hit from Obamacare, IMHO.

  11. #61
    volitare nequeo AW Moderator veinglory's Avatar
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    1) The have already been in Chapter 11 twice before the new requirement
    2) If they can't operate at a level where they pay minimum wage and cost-shared benefits the business is not viable.

    Letting them carry one while full time honest workers can't have healthcare and the incompetent management get pay rises is not a solution.

  12. #62
    "Assume Good Intentions" SuperModerator Williebee's Avatar
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    Quote Originally Posted by Shadow Dragon View Post
    Jokes on the hoarders when their twinkies go bad in a month or so. Unless they decide to eat that many in a month, which certainly isn't a good idea either.
    Going back to the thread title.

    "E-bay" or "From every market a sub-market grows."

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  13. #63
    "Assume Good Intentions" SuperModerator Williebee's Avatar
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    Quote Originally Posted by Richard Paolinelli View Post

    I'm sorry, but I have yet to meet a bureaucrat in any state or country who had the first clue about what they were doing and I prefer to trust my own judgement when it comes to matters involving my money, my business and my personal life.

    And it will only get worse, so why would anyone in his/her right put up with it. Get out while you can and since "the people" have spoken that they want Big Government, then by all means let Big Government figure out how to help all the newly unemployed and underemployed that will come along as businesses figure out it isn't worth it anymore.
    That may very well be your experience, Richard, but it doesn't make it universal.

    Focusing more on the event at hand, I'm certainly not a fan of unions in their current incarnation, and I can't blame any privately owned business that wishes to close it's doors. I know several small businesses who have done exactly that, usually because their market left them or there was no family left to leave the business to.

    However, in this case, it has also already been pointed out that the various run of investors have taken turns raiding the business's coffers or mismanaging the shrinking business while reneging on promises and commitments made to employees, regardless of whether or not those commitments were made in good faith. we can't blame their situation on the current government regulation, let alone potential future ones.

    It looks, from the outside, more like investors took turns picking over the carcass while ignoring the workers that were keeping it warm.

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  14. #64
    You can't sit with us! missesdash's Avatar
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    I'm personally in favor of gutting the employer based healthcare system (where else in the first world does a family also lose health coverage when they become unemployed?). I kind of agree Obamacare will do it, but I don't think it's unintentional. It'll make way for a public option.

  15. #65
    practical experience, FTW Ken's Avatar
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    … ingredients in Twinkies:

    enriched wheat flour, sugar, corn syrup, niacin, water, high fructose corn syrup, vegetable and/or animal shortening – containing one or more of partially hydrogenated soybean, cottonseed and canola oil, and beef fat, dextrose, whole eggs, modified corn starch, cellulose gum, whey, leavenings (sodium acid pyrophosphate, baking soda, monocalcium phosphate), salt, cornstarch, corn flour, corn syrup, solids, mono and diglycerides, soy lecithin, polysorbate 60, dextrin, calcium caseinate, sodium stearoyl lactylate, wheat gluten, calcium sulphate, natural and artificial flavors, caramel color, yellow #5, red #40.

    Sure sound appetizing. Wholesome too. Eggs are in ‘em and beef.

  16. #66
    practical experience, FTW Seraph's Avatar
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    figaroooooooooooooo
    Last edited by Seraph; 11-09-2014 at 02:22 AM.
    Has anyone really been far even as decided to use even go want to do look more like?

  17. #67
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    Quote Originally Posted by Richard Paolinelli View Post
    I have yet to meet a bureaucrat in any state or country who had the first clue about what they were doing
    Bureaucrats infesting the management of many large corporations can be fully as stupid and probably more venal than are those in governmental positions. Methinks it probable that these types have contributed mightily to the failure of this company.

    Understanding this story requires the sage advice "Deep Throat" gave to Bob Woodward during the investigation of the Watergate mess:

    "Follow the money."

    It certainly didn't go to the workers, and I'm pretty sure it isn't going to the labor union.

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  18. #68
    ~~~~*~~~~ backslashbaby's Avatar
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    I have to speak up for some of these investors. Buying ailing companies doesn't have to be an evil thing Even venture capitalists aren't all evil.

    Depending on the industry, of course, you even see former employees buying up companies and restructuring them. Or buying equipment from them and making their own start-up, etc.

    If a company is in bankruptcy, the court gets to tell the investors how things are going to be, btw. Before the court steps in, investors can be terribly immoral, but not so much after. That's mostly up to the court.

    Dad typically works for the banks, so the decisions are made according to what the court will allow and what investors can still fund, in combination. He and his partners get put in as acting CEO and COO, due to the company's legal agreements with the banks (and the court). It's all very controlled at that point. Raising executive wages, for instance, isn't allowed in bankruptcy court unless a judge thinks it's a good idea for some reason.

    Outside of bankruptcy, things are much different. You do have too much picking of the bones during bankruptcy, but that's usually because it's hard to find creative new ideas that actually convince a judge and investors that they'll work to bring the company back around. It's much better to try to fix all of that before it comes to bankruptcy, as you might imagine. In any case, the judges are much more objective than anyone else, and they do look at both workers and investors in making their decisions.
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  19. #69
    Heckuva good sport frimble3's Avatar
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    Quote Originally Posted by Xelebes View Post
    Twinkies will still be available in Canada as all Hostess products are licensed by Saputo here. Although the only Hostess products I've seen on the local storeshelves have been Ruffles and Wonderbread.
    Woo-hoo for the fortune we will make from cross-border shoppers, and indeed, why wouldn't the Canadian companies who sell prescription drugs to Americans on-line not carry Twinkies, etc, as well? Bricks-and-mortar drug stores do!

    I gather that the 'Grand Plan' is to sell off the Hostess Assets, so some other outfit will by the license for Twinkies, etc, and carry right on, probably in the same plants, with the same people (right after they get rid of the unions, and roll back the wages).

  20. #70
    "Assume Good Intentions" SuperModerator Williebee's Avatar
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    Mr. Williebee, welcome back to the United States. Have you anything to declare?

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  21. #71
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    Quote Originally Posted by frimble3 View Post

    I gather that the 'Grand Plan' is to sell off the Hostess Assets, so some other outfit will by the license for Twinkies, etc, and carry right on, probably in the same plants, with the same people (right after they get rid of the unions, and roll back the wages).
    This is what I think is going to happen. The Twinkie, ho-ho names are too popular to let go to waste.
    Our Flag needs washed

  22. #72
    practical experience, FTW Ken's Avatar
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    Quote Originally Posted by sulong View Post
    This is what I think is going to happen. The Twinkie, ho-ho names are too popular to let go to waste.
    ... quite possibly so. Makes sense. Will pose a question though. Have there been large companies in the past that have folded, w/o resurrected offshoots? If so, then Hostess may go the way of the dodo bird too despite its enormity.

  23. #73
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    Quote Originally Posted by Ken View Post
    ... quite possibly so. Makes sense. Will pose a question though. Have there been large companies in the past that have folded, w/o resurrected offshoots? If so, then Hostess may go the way of the dodo bird too despite its enormity.
    Atari comes to mind right off the top of my head.
    http://en.wikipedia.org/wiki/Atari
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  24. #74
    Are you gonna finish that bacon? Vince524's Avatar
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    Quote Originally Posted by robeiae View Post
    A brilliant FB post from a friend:
    I'm stealing this!




  25. #75
    That hairy-handed gent
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    Quote Originally Posted by Ken View Post
    ... quite possibly so. Makes sense. Will pose a question though. Have there been large companies in the past that have folded, w/o resurrected offshoots? If so, then Hostess may go the way of the dodo bird too despite its enormity.
    Possibly. But in terms of the product vacuum, that would get filled very quickly. Sara Lee, Nabisco, Keebler, God knows who else, are already paying rapt attention to this episode, and their product people no doubt already have contingency plans for mass-production of similar cheap crap snack foods aimed explicitly at the insatiable market in the U.S. for cheap crap snack foods.

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