Hostess Brands Inc. filed for bankruptcy early Friday, announcing it has shuttered operations and ended production of the snack cakes and breads known to generations of Americans.
The Texas-based company said in a statement on its website that it will try to sell its assets, including the iconic Twinkie, Ding Dong and Wonder bread brands. Bakery operations have been suspended at all 36 plants, including one in Rocky Mount, following a weeklong strike by thousands of workers protesting 8 percent wage cuts and benefit concessions.
36 plants and 18500 workers.
The Union employees preferred no paychecks compared to an 8% cut this year, with raises each of the next two years guaranteed.
No doubt liberals everywhere will blame the evil corporation, it's old white men owners(the CEO is actually black), Bush and the tooth fairy for all this, instead of finally waking up to the fact that this is a direct result of Obama and his policies. That, and - of course - RACISM.
This is just the start. Expect to read news like this day in and day out for the foreseeable future as the true costs of Obamacare and his thousands of new onerous regulations start taking effect.