Hostess Uses Last of Nine Lives, Moves to Final Shutdown

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By Douglas A. McIntyre Updated Published

Hostess management has tried nearly every reasonable means to keep the baker of Twinkies open, or so they say. Whether the claims are true or not, a short burst of optimism brought on by a decision to move to mediation between unions representing some of Hostess’ workers has failed.

The Wall Street Journal reports:

Hostess Brands Inc. will continue down the path to a full liquidation after a last-ditch mediation session with its striking bakers’ union failed to save the Twinkie maker.

The company, which has already shuttered its plants and sent its workers home, will push ahead with its bid to embark on a shutdown that will leave about 18,500 people unemployed and its iconic brands either in the hands of new owners or gone forever, a company spokesman said Tuesday evening.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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