Impressive work by the unions. Down economy? Who cares. Company in bankruptcy for the second time in 10 years? Doesn't matter. Pay and benefit cuts to keep your job and the company alive? Not a chance in hell.
.worked for them in the late 80's early 90's in two states and here in Pittsburgh it was th best area in the nation for snake cake (SURPRISE, huh!!) , but there was rumblings back then of selling routes off ala Entenman's and Little Debbie, so I'm kinda surprised it took this long. I can tell you this we made pretty good money, but when you factored the hours worked, not so much. Up at 3am and home @ 4/5pm, and off wed/sun, traditional bakery days off, it sucked. I'd be going to work on a Saturday and see everyone coming home from the bars, and going to bed at 7 or 8pm, that was a blast too....lol!!!
Turtle pies were seriously the best. They weren't totally unlike the chocolate pies they sell now, but those are simply glazed with chocolate pudding filling. Turtle pies had a great tasting icing with vanilla pudding. And a Ninja Turtles trading card.
My mom always used to take me and my sister to the Hostess Store in Beaver. We always seemed to have a case of Hostess Cupcakes in the pantry. Even though I live in Philly now, I still prefer Hostess to Tasteycake. The fact that Tasteycake is a big sponsor of the Flyers makes me stay away from them anyways/
While hardly a pro-union guy, it should be noted that Hostess' problems began before the economic downturn as they last entered bankruptcy eight years ago (with nearly a half billion in debt) where two hedge funds specializing in the purchasing distressed companies were able to bring them out of bankruptcy. The writing was on the wall at that point, and I think that management had been cashing out while they still could. If unions are to blame, it's for actions that happened a decade or longer ago; not the last three years.
That said, I'm very interested to see if the government can resist the urge to intervene now. 18,000 mostly union jobs for a company which has to be one of the largest purchasers of subsidized material (HFCS, corn starches, etc). Hopefully they'll allow the market to allocate Hostess' assets, but I'd be shocked.