As I look into my crystal Sno-Ball, here is what I see. Within 90 days, a foreign-owned corporation will buy the intellectual property of Hostess, buy the briefly idled buildings and delivery trucks, and hire 18,500 non-union Americans to put the products back on the shelves. In the mean time, 18,500 Americans who paid their unions to get them fired will become part of the ever-growing number of Americans using food stamps. When they see Twinkies back on the shelves they will need Obamacare to pay for the injuries they’ll suffer from kicking themselves.
Follow-up – February 11, 2013
Judge OKs auction of Hostess brands.
Follow-up – January 30, 2013
Apollo Global Management LLC and C. Dean Metropoulos & Co have set a baseline offer of $410 million for Hostess.