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View Diary: BREAKING: Hostess Brands to close as revenge for the striking workers standing up for their rights (351 comments)

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  •  Hostess goes Galt! (2+ / 0-)
    Recommended by:
    LordMike, Damnit Janet

    I rather hope that more of these companies controlled by loons decide to go Galt -- they will find how little we will miss them once they are gone.

    There is no question that there are other bakers ready to fill the void.

    "Don't bring that horse in here!" -- Cassandra

    by tc59 on Fri Nov 16, 2012 at 06:47:44 AM PST

    •  WTF? (0+ / 0-)

      Galt?  Void?

      This isnt privitazation or Chapter 11 restructuring? This is liquidation... they will simply cease to be.  No brand names, not assets, no reserve funds, no pay-outs, no intellectual property, no later buyouts.. nothing.

      This is not a "tactic" against unions... this is collapse.

      Красота спасет мир --F. Dostoevsky

      by Wisper on Fri Nov 16, 2012 at 07:06:43 AM PST

      [ Parent ]

      •  The brands and intellectual property (1+ / 0-)
        Recommended by:
        sethtriggs

        will not just vanish; they're assets that will be sold off as part of the liquidation.  Presumably, whoever buys the Twinkies brand will resume making Twinkies.

        "We'll be selling the brands and as much of the infrastructure as we can," said company spokesman Lance Ignon. "There is value in the brands."

        [snip]

        In its January bankruptcy filing, Hostess listed assets of $981.6 million. In a February filing, it assessed the value of its patents, copyrights and other intellectual property at some $134.6 million, although it did not break down the value by brands.

        •  But not for the owners or management (0+ / 0-)

          they are auctioned off on the open market by a court appointed controller.

          There is no "win" here for the current Hostess management/investors/ownership.

          Красота спасет мир --F. Dostoevsky

          by Wisper on Fri Nov 16, 2012 at 07:23:25 AM PST

          [ Parent ]

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