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November 23, 2012 at 12:18 am #777774
JanSParticipantBaker Brain Trust? Got a link to that?
November 23, 2012 at 12:20 am #777775
JanSParticipantTalaki, feeling much better…may get to go home next Wednesday…and went out for a lovely TDay dinner today with friends :) (wheelchair and all – lol)
November 23, 2012 at 12:26 am #777776
DBPMemberNovember 23, 2012 at 2:10 am #777777
Talaki34ParticipantNovember 23, 2012 at 5:42 am #777778
JoBParticipantmethinks someone ate too many twinkies
and maybe dunk them in too much bourbon :(
either way
intellectual indigestion is guaranteed.
happy turkey day
November 23, 2012 at 5:53 am #777779
kootchmanMemberFollowing to story very closely JaN I see. Interesting you don’t even know the players.. let alone the score card. When companies go in the shitter… bad management often being the case, it makes not a whit “who done it”… what matters is who can fix it. Or, even, who has the best potential to try and fix it.. outcomes not assured. See that’s what venture capital does. All the unions signed on, all except the bakers union who were told, if you do this we will be out of business….. and lo and behold.. they are. Doesn’t matter to me.. I am not one of the 16,000 now jobless.
November 23, 2012 at 6:58 am #777780
JanSParticipantwow…look at you Kman…just the little smart a** know it all. Thanks for the links I asked for, she says sarcastically. That must mean you don’t have them. Yes, I know the players. I was asking for your sources. Have you googled Baker Brain Trust? Ain’t nothin’ on there that has to do with baking, with Hostess, with this story, etc. Same as in my previous question about Rayburn, quoted as a source (which, by the way, ain’t a player in the story). So I asked for clarification. But forgive me for thinking you actually had a source…seems to be a pattern. Again..mistyping? Want to redeem yourself and answer the questions? They were legit questions. You deflect well !!!
November 23, 2012 at 8:14 am #777781
JanSParticipant“The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts.”
Bertrand Russell
November 23, 2012 at 2:53 pm #777782
miwsParticipantit makes not a whit “who done it”…
kootch, by around the early ’90’s, one of the buzzwords in the then (what I perceived as new at the time) corporate lingo, was accountability.
The corporate suits, and their little middle management mini-mes, that were backstabbing each other on the way to the top, just so they could drive and twist that knife into the backs of their overlords someday, were using that word on the lowly frontline employees, as if those employees would be burned at the stake for the single undotted “i”, or uncrossed “t”, out of thousands.
So, the big shi…..shots that tank the company, either through outright intent and greed, or by extreme incompetence, get a free pass?
It goes both ways dude.
ACCOUNTABILITY
Mike
November 23, 2012 at 4:31 pm #777783
JoBParticipantWhen you manage a company to milk the maximum amount of cash from it.. it doesn’t have a future.
American business has forgotten that the long term returns in manufacturing are dependent upon a product… which is dependent upon the amount of money you are willing to invest in research and development and the quality of your employees.
ditto for service … your long term return in a service business are dependent upon the quality of your service which is dependent upon your employees.
I can’t understand the argument that it doesn’t matter who/what caused failure. How do you create a plan to fix a broken company unless you understand why it failed?
an infusion of cash to pump up the stock value is not the answer.
November 23, 2012 at 4:31 pm #777784
redblackParticipantjan:
Rayburn race cars? Gene Rayburn?
AC Rayburn? Which Rayburn are we talking about?
lolz. gene rayburn.
“After reading the thousandth unattributed post by kootchman, Jan said, ‘I’ve finally had it. Now I’m full of [Blank].”
November 23, 2012 at 4:52 pm #777785
Talaki34ParticipantYes, the executives were given a pay cut to $1, but not because the company wanted to do so because of goodwill.
Hostess cuts execs’ annual pay to about the price of a Twinkie
Kansas City Business Journal
Date: Tuesday, April 10, 2012, 8:15am CDT
Executives at Hostess Brands Inc. will see their salaries cut to $1 a year after creditors accused the company of jacking up pay before a Chapter 11 filing to skirt bankruptcy rules, The Wall Street Journal reports.
The top four executives under CEO Gregory Rayburn will get $1 a year until Hostess emerges from bankruptcy or Dec. 31, whichever occurs first, the newspaper reports. Creditors alleged that the four won salary bumps of 75 to 80 percent after Hostess already had hired restructuring lawyers.
I know that the Unions were responsible for some of the issues that came before the company. Anyone thinking organizations that large would not have any impact would be wrong. Anachronistic ways of doing business in some local markets did have negative impacts on their numbers. The biggest problems I think were the pensions and the lack of trust between the company, middle management and the workers.
http://www.bizjournals.com/kansascity/stories/2004/10/04/story1.html
http://management.fortune.cnn.com/2012/11/16/the-end-of-hostess/
http://management.fortune.cnn.com/2012/07/26/hostess-twinkies-bankrupt/
I like these three articles because they tell the internal problems as well as the external. Nobody is totally immune from the blame.
I would never try to surmise why the Bakers voted the way they did. I am not a Baker and I don’t know what happened in their corner of the world and it would be silly for me to try.
I guess the end came and went. 18,500 jobs are gone. Someone will buy the Brands and recipes or some maybe retired.
To my friend in Emporia…
It will be hard to start somewhere else, but you are strong and smart. Look back on your days at Hostess not with anger or sadness, but with the knowledge that you did the best job anyone could do. You were the right person for the job and under different circumstances would have been a rising star. I hope that before you leave, someone tells you “Thank You” for the extra hours and attention to detail you put in every day. Literally, you saved the company millions in costs, put the needs of your workers before yourself and that does count for something. Your loyalty to Hostess and your men is to be commended.
I don’t know if I ever said “Thank you” for taking the time to help me with all the transport questions so long ago. It made accountability for my plant and my job just a little easier.
Bravo my friend.
I will be keeping you and yours in my prayers.
November 23, 2012 at 6:20 pm #777786
JanSParticipantTalaki..thanks for answering one of the questions I asked Kootch. Gregory Rayburn….:)
November 23, 2012 at 6:22 pm #777787
JoBParticipantNovember 23, 2012 at 7:02 pm #777788
DBPMemberJuly 13, 2006
Dear Mr. Preston,
Thank you for your inquiry. On behalf of everyone here at World Consolidated Interstate Bakeries and Defense Corp., I apologize for the delay in answering. It seems that our Kuwaiti subsidiary manufactures a twin-rotor attack helicopter also called the “Twinkie” and your letter was mistakenly routed to that division.
In answer to the concern you raised in your letter, I assure you that our Twinkies® brand golden sponge cakes with creamy filling have never been tested on rats. Although it’s not like we haven’t tried.
Again, thank you for your interest, and if you have any further concerns please don’t hesitate to contact me.
Sincerely,
Augustus Gloop III
Vice President in charge of Blowback
November 24, 2012 at 10:08 pm #777789
dobroParticipantThis is the clearest explanation I’ve read about the Hostess crimes…
November 25, 2012 at 2:06 am #777790
JoBParticipantand they are asking the bankruptcy judge to pay those 9 execs big bonuses for their great work.
November 25, 2012 at 2:37 am #777791
miwsParticipantAnd as I stated on FB, regarding the point that JoB makes above; if the Judge approves it, those execs will be making out like…..ummmmm….BANDITS.
Mike
November 26, 2012 at 5:28 pm #777792
DBPMember11/26/12
Cape Canaveral (AP) – NASA engineers received some bad news over the weekend as telemetry readings from deep space probe Mariner 13 indicated that the craft was swerving too close to Jupiter and would soon be pulled in by the massive planet’s gravity.
Mariner 13 was seen as a kind of intergalactic emissary and carried aboard it several artifacts of human culture, including a digitized text of the Magna Carta, an autographed picture of Jesus and a Twinkie.
Sensors initially indicated that the probe had burned up completely on entering Jupiter’s toxic atmosphere, but some ten hours later it was discovered that the Twinkie had reached the planet’s surface and was still transmitting.
December 11, 2012 at 1:29 am #777793
dobroParticipantCalling back this thread to report that when the union employees received a 30 cent an hour raise in 2010 they voted, responsibly, to put 28 cents of that into their pension plan. The company now admits using that money for operating expenses and never paying it into the plan. The people running (formerly running, I guess) that company are scumbags and criminals. Yet, somehow, they get their money while the workers get the shaft.
http://www.dailykos.com/story/2012/12/10/1168761/-Hostess-took-workers-pension-money-to-fund-itself
December 12, 2012 at 7:14 am #777794
HMC RichParticipantAlas that happens too often Dobro. Greed is greed and the little guy gets the shaft.
This happens too often. My Father and Aunt had this happen. They were able to fight it and received stock. Then the company’s stock hit rock bottom and everyone lost except the holding companies top execs.
If a company is prosperous, I don’t care how much senior executives make, but when they purposely kill a company and the workers, then I too get angry.
This happens publicly too. Look at the Sonics leaving KeyArena.
Too much greed. A little care and some morality go a long way.
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