Hostess Brands files for bankruptcy protection

2012
01.11

Bottom Line – Twinkies maker Hostess Brands files for bankruptcy protection: “”We remain hopeful that we can reach an agreement that will allow us to amend our labor contracts so that we can emerge from Chapter 11 as a highly competitive company that provides secure jobs for our employees,” Chief Executive Brian Driscoll said in a statement.”

The ironic thing in Driscoll’s statement is that they’re blaming pension and medical insurance costs as one of the reasons that drove them to Chapter 11 to begin with.

So I guess “secure jobs for our employees” means “today, but don’t count on us filling our obligations to you when you retire.”

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