Who Killed Hostess Brands and Twinkies?
Adam Rifkin stashed this in Business Facts
Reality check. It wasn't the unions. It was management:
Hostess has been sold at least three times since the 1980s, racking up debt and shedding profitable assets along the way with each successive merger. The company filed for bankruptcy in 2004, and again in 2011. Little thought was given to the line of products, which, frankly began to seem a bit dated in the age of the gourmet cupcake. (100 calorie Twinkie Bites? When was the last time you entered Magnolia Bakery and asked about the calorie count?)
As if all this were not enough, Hostess Brands management gave themselves several raises, all the while complaining that the workers who actually produced the products that made the firm what money it did earn were grossly overpaid relative to the company’s increasingly dismal financial position.
Twinkies, Devil Dogs, Wonder Bread, and Ho Hos, to name a few...
In the meantime, Twinkies are alive and well in Canada.