Transcript for Roundtable II: Twilight for Twinkies
risks, charges and expenses. Read and consider it carefullybefore investing. makes twinkies, cupcakes, wonder bread is in big financial trouble right now. I don't even understand how this is possible. This country has never been fatter. How are the people who make zingers and snowballs losing money? And we're back now with our round table and as jimmy kimmel said after 82 years hostess is shutting down following a bankruptcy filing and a nationwide workers strike that ended in a stalemate, so good-bye to all of this. I know you all have your last cupcakes there perhaps. That's right. We're all prepared for a good happy -- yes, we are and you're willing to talk about those cupcakes. Speaker gingrich, what happened here? Well, my impression is that management and labor reached an impasse. The union preferred killing the company to accepting what they thought was a bad deal and the management preferred killing the company to accepting what -- look who is shaking his head. Is that any surprise. I see the comings of twinkiegate here. Failed to adapt. You bankrupt your company. You triple your salary as the ceo, then you blame it on the workers. I mean, what about that sign that says the buck stops here? All these workers were doing what they were being told to do and now they're being blamed for a bankruptcy. Come on. This is not the kind of leadership you want to see in corporate america. We need folks who are going to stand up and say we're ready to adapt. Don't blame your workers. Your workers did exactly what they were supposed to do. Take that, speaker gingrich. Eight years, as of the 2004 bankruptcy, the workers took wage and benefit cuts. It wasn't enough. The ceo gave himself a 300% raise. Look, this is -- I feel bad for the workers. 18,000 people will lose their job. I hope somebody will pick this up, will sell them and that we'll continue to have this delightful treat. Can we have a very quick thought of twinkies in your life? Just -- not you, jon karl. You're too young, you're the youngest member of this roundtable. Did you like twinkies growing up? I liked hostess cupcakes but don't despair, someone is going to buy -- the brand has value. And they will go and in a right to work state where hostess does not have to operate under 372 collective bargaining agreements. Okay. Quickly, just twinkie memories. I remember when it was 25 cents a pack when my grandmother, two for five cents is 1.69. I wouldl like the original twinkie back. Very quickly, I mean, what about wonder bread. Wonder bread is going too. I'm a chocolate fiend. Hostess has a couple in sacramento where I was born and raised. Saw it almost every day of the week. I'm with george. Twinkie will survive in a new corporate framework.
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