Hostess

[Arianwen]

But what are they like?

[Nan]

Arianwen, it's been years since I have had a twinkie, but they are a vanilla cake that has a white ceamy filling. They really don't have much flavor other than being sweet. I'm not nostalgic about twinkies.

Doddlebug, that is a big paycut; I probably wouldn't have voted for it either If I was working for them. But they probably were going to have to cut back on operations anyway.

Maybe I mis-spoke about the corporate greed thing. I just read on Bloomberg that the company still wanted to pay management bonuses while letting other jobs go. I was just speaking from my own experience as working for a food products manufacturer. That wouldn't have flown for the company I work at. There isn't alot of profit margin for food manufacturers compared to, say clothing or industrial goods.

A bankruptcy affects more than the people working for the company and the investors. Lots of suppliers who sold them ingredients to make their products won't get paid either. (That's the side I see).

[doodlebug]

They're yellow sponge cake with a white creamy center. Never was a fan.

google "hostess twinkie" for pics

[doodlebug]

Originally Posted by Nan

Doddlebug, that is a big paycut; I probably wouldn't have voted for it either If I was working for them. But they probably were going to have to cut back on operations anyway.

It is a big paycut and I understand the problems that come with it...the workers have been living at a level that their paycheck allows and to cut it by 25% and then another 25% means not being able to pay their bills. I get it. What I don't get is how their salaries (or at least this guy's salary) got so inflated to begin with. According to indeed.com the average teacher salary in the city he works in is $46K. Is a receiving clerk position really on par with a teacher? IMO...no way.

[scottd]

Apparently after their last bankruptcy, they raised the CEOs pay by 300% (it was $750,000/year) and many other executives as well.

[doodlebug]

Don't get me started on CEO salaries and golden parachutes etc.!!!!

[bluemilk]

I knew someone who ate a 6 year old twinkie. She was fine-and the Twinkie didn't even taste much different. I'm a Zingers man myself...

[aniela]

Warning, I am not pro-union (but not necessarily anti-union). With so much government regulations I do feel that in general they don't do as much as they once did.

I'm not sure on that figures and I do think you have it incorrect. The reports I've seen have said the executives were as much as 80% salary increases and they were wanting to cut wages by 8%. (please see links)

I will admit that I wonder if it were temporary? While I worked for a major tire company, our plant had to furlough employees for awhile as well as cut the schedule by about 15%. As soon as the market picked back up, we brought everyone back and the schedule returned to a full schedule. No union at this particular plant. However, the company did target a union plant because, quite frankly, it's a pain in the rear dealing with unions! I wonder what would have happened had our plant been union...I don't think the furlough would have gone over as well.

[aniela]

The targeted union plant was closed. It was in a small town and had pretty devastating effects on the community. The company tried to assist the company but I'm not sure on the extent.

[marie73]

I can tell you from working at law firms (no unions involved, of course), if the people on top want to save money, they sure as heck aren't going to take pay cuts, they're going to let employees go. The big law firm that laid me (and about 200 others) off starting in 2008 doesn't even exist anymore. They were eaten by a bigger firm. They may have been able to save themselves by returning profits to the firm (instead of splitting them among themselves) and taking paycuts at the partner and equity partner level, but most of them left and joined other firms to keep their huge salaries.