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Twinkies Maker Hostess Going Out of Business, CEO Blames Union Strike

Posted By admin On November 16, 2012 @ 10:04 am In Money Watch,Tile | Comments Disabled

NBC [1]
Nov 16, 2012

Hostess, the makers of Twinkies, Ding Dongs and Wonder Bread, is going out of business after striking workers failed to heed a Thursday deadline to return to work, the company said.

“We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” Hostess CEO Gregory F. Rayburn said [2] in announcing that the firm had filed a motion with the U.S. Bankruptcy Court to shutter its business. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce and focus on selling its assets to the highest bidders.”

Visit NBCNews.com for breaking news [3], world news [4], and news about the economy [5]

Full article here [1]

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URL to article: http://www.prisonplanet.com/twinkies-maker-hostess-going-out-of-business-ceo-blames-union-strike.html

URLs in this post:

[1] NBC: http://www.nbcdfw.com/news/national-international/NATL-Twinkies-Maker-Hostess-Going-Out-of-Business-179643161.html

[2] Hostess CEO Gregory F. Rayburn said: http://hostessbrands.info/

[3] breaking news: http://www.nbcnews.com

[4] world news: http://www.msnbc.msn.com/id/3032507

[5] news about the economy: http://www.msnbc.msn.com/id/3032072

[6] Hostess Mediation Fails, Liquidation To Proceed; Furious Laid Off Workers Now Turn On Labor Union: http://www.prisonplanet.com/hostess-mediation-fails-liquidation-to-proceed-furious-laid-off-workers-now-turn-on-labor-union.html

[7] Gallup: 61% of Small Business ‘Worried’ Over Healthcare Costs — 30% Not Hiring, Fear Going Out of Business: http://www.prisonplanet.com/gallup-61-of-small-business-%e2%80%98worried%e2%80%99-over-healthcare-costs-30-not-hiring-fear-going-out-of-business.html

[8] GM = Government Motors: http://www.prisonplanet.com/gm-government-motors.html

[9] Small-business bankruptcies rise 81% in California: http://www.prisonplanet.com/small-business-bankruptcies-rise-81-in-california.html

[10] DOJ to Colorado Family: Give Up Your Religion or Your Business: http://www.prisonplanet.com/doj-to-colorado-family-give-up-your-religion-or-your-business.html

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