Courtesy of Mish.
I have written about Twinkies three times before.
Recall that in November of 2012, Hostess, the owner of Twinkies, Ding Dongs, Ho-Ho's and other sweet treats gave an ultimatum to 15,000 union workers to accept pay cuts or get fired and lose their pensions as well.
Flashback November 15, 2012: Hostess to Liquidate if Bakers' Strike Continues Through Thursday; End of Twinkies Hours Away?
It's do or die for 18,000 Hostess workers including 5,000 in the bakers' union.
Only fools would voluntarily vote for liquidation, but with the clock ticking down to mere hours to come to agreement, it appears the fools will win the day.
The bakers' union would rather have no job than reduced wages. Lovely. Good luck finding another job in this environment.
I have little sympathy for those who voluntarily walk away from their jobs in these trying times.
However, this is probably not the end of Twinkies, Ding-Dongs, or Ho-Ho's.
Not that anyone needs to be eating such non-nutritional junk food, but those names and recipes will likely be sold and produced elsewhere, probably at a lower cost to consumers, especially if the buyer does not have to deal with the bakers' union.
Flashback November 18: Chris Christie Provides Perfect Setup for Saturday Night Live
At a recent news conference, Christie was asked a question about Twinkies. He responded …
"Really, seriously, you're not asking me about Hostess Twinkies are ya? What's the next question? I'm on Saturday Night Live enough. You think you're getting me behind this microphone having me talk about Twinkies? This is a setup man, I know it."
The bottom line is the union would not give into demands and the company filed a motion last Friday to liquidate. Shutting down the company will mean the loss of 18,500 jobs (less any jobs picked up by buyers of brands Twinkies, Ding-Dongs, Wonder Bread, Ho-Ho's etc.)
…
