I'm not panicked yet -- but I really would hate to see these go. I realize they're not healthy, and I'm not advocating eating them often, but an occasional indulgence does not metabolic syndrome make.

There's a restaurant I used to love going to that would deep-fry a Twinkie then serve it with ice cream. They tried to make it elegant by calling it a beignet... it wasn't... it was just a deep-fried Twinkie covered in ice cream. And it was wonderful.

@ Jonathan, I must admit, I had never even conceived of a deep-fried Twinkie until a trip through Tennessee a couple of years ago. I didn't actually try it, but just seeing it was a sight to behold! And I'm with you on occasional indulgence; in fact, I think there is a business to be made in just selling intensely junky, old-fashioned foods: movie candy (Jujyfruits, Sno-Caps, Milk Duds, etc.) plus Hostess Classics (Twinkie, Ding-dong, etc.) Maybe also offer whoopie pies. Am I right?

I really don't want to see the demise of Hostess Cupcakes, Ding Dongs, or their bread. I hope it doesn't happen.

When I was a kid, my mom would let me have one twinkie or devil dog each day, sometimes two. I spent a lot of time playing outside and was always very thin, so in my experience twinkles don't create the weight problem, but inactivity (or perhaps high fructose corn syrup) does. I'd like to see someone selling twinkles with their 1960s formula- truly delicious.

So @ Carol, the Twinkie formula changed over time?

Deep fried Twinkies- It's a good thing!

Quick buy Twinkies. They will last through to Armageddon. Maybe we can take them with us to the hereafter. Only kidding. It is a sorry state of affairs when a company cannot survive because of union demands and has no choice but to close. To all union members connected with Hostess. Is this what you want? Speak up, it's your job on the line. Surely, your reps can compromise just a big part. 18,500 + jobs going to unemployment, food stamps, welfare, medicaid, maybe even lost pensions, Looks like Obama is working hard after all.

@ Carol: I think you're right. There is some more interesting reading out there: http://science.howstuffworks.com/innovation/edible-innovations/twinkie.htm

Ditto to MC; Unions are no longer necessary. Public opinion will keep unsafe work places in check, abuse of child labor in check, abuse of labor in check. These are the reasons labor unions were needed; internet ie what you see here, is why it's time for them to go, and for the American public to become accountable for their own actions, ie be good employees so you have the pick of jobs.

Please explain why it had to be sold to venture capitalists? Was it because the previous owner could no longer afford to make the company profitable while meeting union demands? I feel really bad for the workers who were willing to cooperate.

The company has been in bankruptcy 3 times . How good could it be?

Nearly half my life ago, before Massachusetts, – I dealt with the BC&T in Greenwich, CT – their now-VP Thibodeau was their New England head goon back then.

The union was quite willing to put our bakery out of business, except most of our hourly folks had such minimal transferable skills or English abilities that in the end reason prevailed. I did have a bullet-proof guard shack built after union goons killed a guard at the Stanley Works.

I’ve got a hunch that Thibodeau was expecting Obama to come flying in with a ‘Twinkies are too big to fail bailout‘. Bubba would have, he loved Twinkies. O might have been tempted, but Menu-Mistress Michelle would have stopped him cold; – her personal war on Twinkies.

Union suicide. 18,000+ laid off, – 300+ here in Mass. Now they’ll be on 99 weeks of unemployment – and be an issue in the 2014 mid-terms.

You think for a moment that Thibodeau will feel a salary cut, - or a pang of remorse?

You realize though, that if Obama saved the Twinkie, it would go against everything Michelle has been preaching about. ;-)

TO: Steven Cavaretta

You thought I am nuts? After some of your writings? Jeez!

Obama might save the Twinkie - if all their bakeries had windmills and solar panels...

I've dealt with the BC&T in Georgia and CT - they don't seem to understand thet the per unit profit margin can be as low as 1/4 cent.... They just pay their dues, listen to their shop stewards, and march out the door on cue. For these 1800 - this was the 'last Goodbye'.

In reality, they bet they can turn these companies around. In this case Ripplewood Equity invested over $170m for control of the company. Two hedge funds bought most of Hostess' debt at a reduced rate - betting on a turnaround.

The ironic part here is that Ripplewood's CEO Tim Collins was tight with Dick Gephardt and his angle was to bring him in to deal with the unions. It worked for a while but then the recession hit.

The union conceded in 2004 but they still were in trouble. They went back to them this year and while the Teamsters were for more reductions, the baker's union went on strike which forced the closure ot the company.

The strange thing here is they basically told the bakers if you strike, we have to shut down the company.. - and they struck anyway..

Everyone lost here. The Equity firm, the hedge funds, and especially the other 11 Hostess unions..

Very impressive and effective negotiating strategy by the baker's union. Congratulations!

I don't know what these people make but I doubt it that's much. I don't care for all unions but these folks are probably NOT overpaid.

Lots of companies closing since Nov 6th it seems.

Steven,

The term is 'venture', not 'vulture'. These firms have saved many a company, but not one with a suicidal union.

Steven,

Let us know if you would like to try a job in the private sector. We can help you rehearse, "Would you like fries with that?"

Well Steven, Hieronymus may have misunderstood you once,...or twice,...

But over time there is a certain tone to your writings,...you do a pretty good job of parroting White House talking points. So he could easily have mistaken you as one of Obama's campaign workers... Just say'n...
- - -
As for Capitalism, - it works to give us all a better life because good ideas become good products which the marketplace will support.

By contrast, in Russia the state determined what should be made, what goods would be stocked in stores, and how much each person would be paid – whether they worked hard or not... In the end the entire country collapsed.

Hostess may emerge one day from bankruptcy – maybe open new bakeries in right-to-work states, and you ~ might ~ get to enjoy a Twinkie again with your Kool-Aid.

Meanwhile, with unemployment about to skyrocket, - unions would be well advised to pull in their horns.

This is just Union busting. The company tried to get the workers to take pay cuts, health benefit cuts and pension cuts. So the workers said no and went on strike, management (who were not long time owners, they were Mitt Romney types who don't want to run businesses, they want to make profits) fired them, they will take all the cash out of the pension fund, and sell the brand, probably to Lance or Nabisco or Keebler, and run to the Cayman Islands. This has been coming for two years and I have been following the story. No more apple pies for me!

Best definition of a labor union and it is mine - MORE AND MORE PAY FOR LESS AND LESS AND LESS WORK. So much for creating jobs!!

Poor Deb believes a company can continue to take many millions of losses rather than bring union compensation in line with current standards. Only her government can do that.

Steve Carvetta, You have no idea how venture funds invest in turnaround situations. These investors play the role of patient capital in distressed and overleveraged situations, and make their money on a successful exit only if the restructring process is a success. I've done it, saving many, many jobs in the process, including, by the way, a bakery in the metropolitan New York area, that did not have a union shop, and the workers didn't want a union shop because they were paid fairly with decent benefits. We rescued this company after its expansion plans failed miserably and the bank was in foreclosure mode. This happened a decade ago and the company is alive and well today.

Mike, The last U.S. election shows how potent government and political propaganda can be. Your vocation of venture capital was formerly honorable, but now has been demonized. As illustrated by the responses of gullible writers here, the re-education of the masses in your country has been complete. Thanks to Obama, if you work hard, put your money at risk, and succeed, your reward will be insult and higher taxes. Say hello to Greece.

Wow, how ugly things have gotten here in the USSA – where Steven sees only evil in American capitalism, - and only good in government programs and unions.

After his several outbursts I can only believe he is ready to re-write our Constitution and eliminate those pesky Amendments..., except maybe ones guaranteeing free abortions and free drugs...

I wonder if he wants doctors unionized...?

I'm sure his concept of 'fairness' in business included a 6-figure paycheck for union janitors pushing brooms around a Twinkie plant, so long as they can qualify for early retirement.

We know what happened in Europe when they ran out of other peoples' money, and there were no 'billionaires and millionaires' left around to tax. I wonder what Steven foresees in his old age? Maybe that 100-pill deal? Maybe THATS his concept of personal responsibility?

So sad to have all the Fox News fans here being interrupted by reality....The election results confirm that most "real Americans" (not just the 1% crowd cheering on Thurston Howell Romney and his wife Lovey) are giving this President 4 more years to clean up the complete mess George W left with us---which you Iron Mike and your cronies supported---Two wars paid for with five tax cuts which resulted in the worst recession in 70 years---You are and were wrong---Now, get out of the way and let us clean this up.

Behold – the inclusive, tolerant, respectful and humble European-Amerikan Socialists. Now you begin to understand how Hitler was so able to fool the masses.

You got that right, Iron Mike. History has always repeated itself and we are on the way down that slippery slope.

To: 'Bronze Joe'

Actually Joe, we Conservatives and Republicans would like you lefties to wake up, see the light, do the math, and see how History is repeating itself to destroy the best country ever to flurish on the face of the earth.

It's you 'tolerant' types who are always telling us to shut up, move away, or die.

So which group is the open-minded one?

Will Social Security and Medicare be solvent when you reach your 70th birthday? Are you aware how long the average working man lived when Social Security was enacted in 1935?

Do you understand that it was always a Ponzi Scheme? Why is the Demokratic party so set on not touching it; - is it ~ possibly ~ because it serves as their great voter plantation, along with unemployment, food stamps, and student loans?

Miriam and Steve seem to think that all 1% 'ers are Republican and 99% are all Demoratic. It's simple and easy to fit these things into a nice little box.

To get back to Hostess the "vulture capitalist" here is Tim Collins CEO of Ripplewood. He's a..... Democrat. Dick Gephardt's son who sat on the board is also a..... Democrat.

In fact most 1%'ers are independent. 41 percent identify themselves as independents, while 33 percent say they are Republicans and 26 percent are Democrats. The 99 percent of the population is also mostly independents, consisting of 39 percent of independents, 28 percent of Republicans and 33 percent of Democrats.

Hardly a huge majority one way or the other.

Regarding the uber rich, 16 out the Forbes 20 richest in the U.S. are Democrats...

Read more: http://www.politico.com/news/stories/1211/69776.html#ixzz2CbRjLZX4

>> they run good companies into the ground

Steven, what is the Democrat Party's definition of 'a good company' vs 'a bad company'.

Does it have anything to do with being unionized? Are there any 'good companies' that are non-union, and being run by venture capitalists?

In their day, were Wang, Prime, DEC, Data General, Symbolics, Studebaker, or Grumman Aircraft 'good companies'? How about the Fore River Shipyard?

Ripplewood, The private equity firm here, is basically losing everything they invested - just like they did when they bet on Reader's Digest.

Private Equity's and Hedge Funds both make more money if a company they invest in turns around. Assets and Branding bring in much less than a profitable company or when that be sold as a viable entity to another investor.

Keep in mind, too, that some of the biggest investors in PE's and Hedge Funds are pensions, endowments, etc... Harvard increased it's endowment by 21% in 2011 largely due to the strong returns from it's Hedge Fund Portfolio.

Steven, We can't do much to help you. We hope things work out okay. You do live in one of the better states, in terms of public assistance.

Just curious Steven,...and you don't have to give a specific answer,...but did you lose your 'dream job' and your life savings to some 'evil venture capitalist'?

Have uncaring Republican businessmen pulled the rug out from under you – leaving you to live out your days in a run-down trailer park?

Or, are you actually employed as a union business agent?

The focus of the management was to break the unions at Hostess and to break up the company and sell off the brands. It is a no brainer that the brands are worth more than an outdated organization whose best food was Wonder Bread that was like a Twinky without the filling.

Blaming the unions for years of bad management of the company is typical. The checks and balances of our economy were unions, management and shareholders and the press to spotlight poor behavior. The term in business school was "satisficing". Now jobs can be shipped overseas, plants closed , and work "outsourced" to produce inferior products. Any business manager who can't work with unions isn't a very good manager. I have been in management of union companies and never had a strike or paid wages higher than non union competitors on a percent of sales basis. If you lie to unions they will never trust you again and once the relationship goes bad it is very hard to save. Bad relations with unions usually started with management.

Hostess will die because the company never changed with the times. The fastest growing grocery store in the country is Whole Foods. You will never see a hostess truck in their parking lot. This is a classic management failure and a typical private equity splitup because the brands are the only value left and it will all be blamed on the unions. It makes an easy but untrue headline.

Steven, Hostess would be more of a private equity play than a venture play. This was always about a breakup while venture capital focuses on building new organizations. Some firms really get involved in both. They are both focused on their own profits but I have always found venture to be aligned with management when things are making progress. VC's recognize failure before management and not continue to fund.

You outsource Twinkies to contract manufacturing in the US not overseas. It breaks unions and moving the manufacturing to the lowest bidder continues to cut cost and quality until no customer who would eat such a bad product is left.

No matter what you call them there vultures using other peoples money to rip companies apart and sell the pieces. And where the hell do you find a contract bakery theyll use the same old oven with scab labor and pay themslves bonuses for it.

Don't villify them without better understanding them...or the broader economy in general. One of the base assumptions underlying all economics is that people will rationally chose self-interest, e.g. the accumulation of wealth. This is the manner they have chosen because it offers tremendous rewards for tremendous risk (financially speaking). And for pensioners, life insurance companies, unions, foundations, endowments, etc, they're an essential part of the economy. And no, they don't always get their 20 (but they typically get their 2...or 1.5 or whatever fee structure they have set up. But also know that a lot of them put their own money at risk and into their GP so their risks are better aligned with their LPs.

And to reiterate and clarify, venture capitalists are a subset of private equity that mainly focus on new companies whereas traditional private equity firms get involved with companies at many stages of their lifecycles. I find it a shame that the US is the world's largest economy but economics and finance aren't usually taught until college (if at all!). I think those subjects should be integrated into curricula so that the social costs of capitalism can be discussed on a more even footing of understanding.

Sorry, Dennis, we don't allow any profanity or ersatz profanity. You're welconme to re-post your comment with clean language. Thanks.

If you understand all this, then what's your issue with them? There are much worse things going on in the world and far worse people. Do you know any people in PE? They're generally like everyone else. There are some great people; there are some "not-so-nice" people; and a whole lot in the middle.

Thank you!

You should direct your ire at the management that drove these companies into the ground in the first place. They destroyed the companies and the lives and the towns. The PE firm didn't put them in that position. Plus, they're not breaking any laws by paying the legal tax rates for carried interest. Who wants to pay higher taxes? Especially when the government is pretty inefficient at spending it wisely. No one. But, yes, the 47% comment was insensitive and unfortunate. It is also irrelevant to this discussion because that was Mitt Romney, candidate, speaking to donors (not all of whom are private equity). It was not the Private Equity industry and part of their strategy (which is what I thought we were discussing).

I'm just trying to clarify the realities of what PE is and what it isn't. The truth never hurts.

In Michigan, brave Governor Snyder and courageous Republican legislators take on the union hackerama and now... The Chosen One. Let us hope Michigan becomes a right-to-work state.

Reverend E. Raleigh Pimperton III