R.I.P. Twinkie - Page 4

Lamplighter · 11-19-2012, 03:09 PM

Spex, it's nothing personal... it's just business.

If a business goes bankrupt and the pension fund is insolvent,
the Pension Benefit Guaranty Corporation (PBGC) steps in to meet
the obligations of the fund. Corporate exec's of failing businesses
know this, and so have no reason to put "their" $ into the fund.
Once the business is in bankruptcy, the PBGC becomes
(one of many) creditor of the plan's sponsor (the business).

So the question here becomes:
Can the PBGC make Twinkies that last as long as those stored in our nuclear fall-out shelters ?

Ibby · 11-19-2012, 03:21 PM

Nice, spex. I just dropped in to post basically the exact same thing.

SamIam · 11-19-2012, 03:30 PM

Just some more "job creators" taking advantage of their Bush era tax cuts before it's too late.

orthodoc · 11-19-2012, 04:16 PM

But I thought mucking around with pension funds was one of the few things that pierces the corporate veil. Not meeting obligations to the pension fund is equivalent to stealing from the fund, when the $$$ was clearly available. Why aren't these execs having a forensic audit (well, it sounds like the numbers are already out there, but I'm sure there's more criminal behavior to be unearthed)? And having to pay restitution, and going to prison ...

Yeah, I know.

I'll ease up on the endocannabinoids ...

Lola Bunny · 11-19-2012, 05:06 PM

The brand Bimbo is sold along side with Hostess down here in Houston. It has all the same kinds of snacks, if not more variety. In the more Hispanic store, i.e. as Fiesta and Walmart Supermercado, there's more of Bimbo goods than Hostess. As a matter of fact, all I see are Bimbo products and other Mexican snacks at the cash register area.

xoxoxoBruce · 11-20-2012, 01:34 AM

Quote:

Originally Posted by Lola Bunny

The brand Bimbo is sold along side with Hostess down here in Houston. It has all the same kinds of snacks, if not more variety. In the more Hispanic store, i.e. as Fiesta and Walmart Supermercado, there's more of Bimbo goods than Hostess. As a matter of fact, all I see are Bimbo products and other Mexican snacks at the cash register area.

"The company became the world's largest bread manufacturing company in 2011 ... Grupo Bimbo products are sold in 19 countries."

Some wall street dude on the radio claimed the Hostess brands are worth an aggregate of $85 Billion. And the taxpayers are paying those pensions.

BigV · 11-19-2012, 09:54 PM

privatizing profits and socializing costs

it's the goddamn corporate american way

11-19-2012, 03:21 PM	#2
Ibby erika Join Date: Apr 2006 Location: "the high up north" Posts: 6,127	Nice, spex. I just dropped in to post basically the exact same thing. __________________ not really back, you didn't see me, i was never here shhhhhh

11-19-2012, 04:16 PM	#4
orthodoc Not Suspicious, Merely Canadian Join Date: Oct 2006 Posts: 3,774	But I thought mucking around with pension funds was one of the few things that pierces the corporate veil. Not meeting obligations to the pension fund is equivalent to stealing from the fund, when the $$$ was clearly available. Why aren't these execs having a forensic audit (well, it sounds like the numbers are already out there, but I'm sure there's more criminal behavior to be unearthed)? And having to pay restitution, and going to prison ... Yeah, I know. I'll ease up on the endocannabinoids ... __________________ The greatness of a nation and its moral progress can be judged by the way its animals are treated. - Ghandi

11-19-2012, 09:54 PM	#7
BigV Goon Squad Leader Join Date: Nov 2004 Location: Seattle Posts: 27,063	privatizing profits and socializing costs it's the goddamn corporate american way __________________ Be Just and Fear Not.

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11-19-2012, 03:09 PM	#1
Lamplighter Person who doesn't update the user title Join Date: Jun 2010 Location: Bottom lands of the Missoula floods Posts: 6,402	Spex, it's nothing personal... it's just business. If a business goes bankrupt and the pension fund is insolvent, the Pension Benefit Guaranty Corporation (PBGC) steps in to meet the obligations of the fund. Corporate exec's of failing businesses know this, and so have no reason to put "their" $ into the fund. Once the business is in bankruptcy, the PBGC becomes (one of many) creditor of the plan's sponsor (the business). So the question here becomes: Can the PBGC make Twinkies that last as long as those stored in our nuclear fall-out shelters ?

11-19-2012, 03:30 PM	#3
SamIam Registered User Join Date: Jun 2007 Location: Not here Posts: 2,655	Just some more "job creators" taking advantage of their Bush era tax cuts before it's too late.

11-19-2012, 05:06 PM	#5
Lola Bunny Junior Master Dwellar Join Date: May 2011 Posts: 2,728	The brand Bimbo is sold along side with Hostess down here in Houston. It has all the same kinds of snacks, if not more variety. In the more Hispanic store, i.e. as Fiesta and Walmart Supermercado, there's more of Bimbo goods than Hostess. As a matter of fact, all I see are Bimbo products and other Mexican snacks at the cash register area.

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