RIP Hostess.

I'm in a Right to Work state, working inside of a unionized plant. Being a former union member and now an owner I have seen both sides. The company I now own was once union. It died when the union regional decided the 50 of us were expendable to prove his point. We were offered insurance to match exactly what we had which was Blue Cross Blue Shield, the only difference was the insurance we had was run by the United Steel Workers which we were members of. The company would save $400 a month by switch, they offered us half the saving so a $200 dollar per month raise. Though we voted to accept ,the union rejected and we were let go 2 days later. When I started the company I asked my former team mates if they wanted to go union again. 100% vote of no.
I'm now into my 9th year being self employed, I was only able to hire 18 of the original group do to laws stating that If I hire 50% of the original employee base the union comes with it. All 18 are still with me plus we now have 32 more. Recently I've had my home address along with my family members names and address passed out inside the plant. I have equipment tampered with, SCAB scratched into paint jobs, tool boxes broken into with high dollar items missing. There was a time and place for unions, laws are in place now to protect workers, actually there is more to protect workers then companys. I hate to see people losing their jobs, I also hate to see the greed of the few.... still comes down to 2 billion coming in and a 70% force retired and with the current workers added to it coming to 1 billion, The union should have listened and backed off. The Teamsters told them to..when the largest union tells you to back off..you listen
 
Conversion by the sword. In their defense, the law could have been passed with a little more notice and discussion. Of course, they're likely trying to bypass talking the bill to death and actually try to save insolvent cities and school districts.
 
Careful. Two private equity companies are buying them which means Hostess will be flipped in around five years.

Hopefully, the partnership be able to install an experienced turnaround team and make it profitable before being re-sold. I'm a bit surprised that KKR, Blackstone, or The Carlyle Group didn't put in a bid for them.
 
Careful. Two private equity companies are buying them which means Hostess will be flipped in around five years.
So, given the shelf life of the product, they can start making them now, with plans to put them on the shelves five years from now. :biggrin:

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The two companies which are buying Hostess already own fast-food chains Carl’s Jr. and Hardee’s as well as Pabst beer. Clearly, they want to be able to provide the complete, well-balanced meal, covering all the major food groups. :biggrin:

Oh, and BTW, they're trying for Drake's, too.
 
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