- RT @bargainr: Life in North Korea is absolutely dreadful http://nyti.ms/dAcL26 #
- RT @bitfs: Weekly Favorites and Gratitude!: My Favorite Posts this Week Jeff at Deliver Away Debt threw together the .. http://bit.ly/9J0gGo #
- @LiveRealNow is giving away a copy of Delivering Happiness(@dhbook). Follow and RT to enter. http://bit.ly/czd31X # #
- Baseless claims, biased assumptions, poor understanding of history. Don't bother. #AnimalSpirits #KeynesianCult #
- RT @zappos: Super exciting! "Delivering Happiness" hit #1 on NY Times Bestseller list! Thanks everyone! Details: http://bit.ly/96vEfF #
- @ericabiz Funny, we found a kitten in a box last week. Unfortunately, it was abandoned there, not playing. Now, we have a 5th cat. in reply to ericabiz #
Twinkies: A Failure of Unionization
Twinkies may survive nuclear warfare, but the iconic sweet treat ultimately couldn’t withstand the might of the unionized workforce. Faced with mounting losses and overwhelming debt, due in no small part to the relentless demands of the various unions representing the nearly 19,000 employees, Hostess Brands filed bankruptcy for the second time in January 2012 and ultimately requested permission to liquidate it’s assets in November of last year when a buyer failed to materialize. While many factors played a part in the demise of the maker of such all-American snacks as Ding Dongs and Ring Dings, as well as childhood favorite Wonderbread, there is no denying the fact that costs imposed by union contracts were a major factor in the shuttering of this once-beloved company.
While there is certainly plenty of blame to go around, the simple fact is that nearly 97 percent of the company’s unsecured claims were from employee pension funds, according to the Chapter 11 filing. How did those claims arise? Simply put, the skyrocketing pension expenses were caused by the unions continuing to push for overly generous retirement rewards despite overwhelming evidence that the company could never sustain those costs. True, the unions did agree to considerable concessions prior to and even following the first bankruptcy filing in 2004. However, that was only after union officials had pushed wages and other benefits into the stratosphere, even though Hostess has been struggling for years to remain competitive.
Certainly America’s changing eating habits, increased competition from such companies as McKee Foods, makers of Little Debbie snack cakes, and rising commodity costs all contributed to the ultimate demise of Twinkies. There is no doubt, though, that union contracts inhibited the company’s ability to adapt and make the necessary changes to remain profitable. Not only were employee costs out of control, ridiculous union rules made it nearly impossible for the company to make money. These are just a few of the rules that hampered Hostess’ management:
- Twinkies and Wonder Bread could not be delivered on the same truck.
- Drivers could only deliver one product, even if they did not have a load and a load of another product was waiting to go out.
- Drivers could only drive. They had to wait for loaders to fill their trucks.
- Likewise, loaders could only handle one product. Their contract prohibited a Twinkie loader from helping out if the Wonder Bread loaders were shorthanded.
Yes, management agreed to these terms, but often they were forced to do so in order to prevent a costly strike. In fact, it was a labor strike that lead to the decision to liquidate.
Unions are meant to protect workers from dangerous working conditions, overbearing management and unfair labor practices. Ensuring a living wage and decent benefits is another of their responsibilities. However, it is evident that in this case, the unions became as much an enemy of the Hostess employees as of the company’s management. As a result of their unwillingness to compromise and make wage and benefit concessions, almost 20,000 people no longer have a job that needs to be protected. In the end, the unions drove not only the company but themselves out of business.
Not to fear, however. Two private equity firms acquired Hostess’ assets last fall and are beginning to turn the company around. Production of Twinkies began again in June, and the gooey sponge cakes returned to store shelves on July 15. The workforce has been dramatically reduced and will not be unionized. In the end, probably the only winner in this battle is America’s sweet tooth.
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Does Amanda Bynes Need a Conservatorship?
The publicly documented downward spiral of Amanda Bynes may be reaching its breaking point. She has been on psychiatric lockdown for the past three days, and her parents are petitioning for conservatorship in California
on the grounds that they believe she is suffering from acute schizophrenia. They claim that the troubled starlet is unable to make safe decisions regarding her own well-being, not to mention the safety of others. The issue is complex, but the former childhood star has demonstrated that she meets the criteria to have external guardians instated to protect her from unpredictably irrational behaviors.
This development is the latest in a long saga of antics for Bynes, and the recent news report inserts a tragic twist into her somewhat comedic downfall. She had a pristine public persona only a year ago; however, at this time, she was caught publicly smoking marijuana. No one expected this incident to escalate, and it was treated like an innocent youthful infraction; however, the act recently turned criminal when she was reported for smoking in the lobby of her apartment complex.The comedian ran from the arriving police officers, and hurled a large cannabis apparatus out of a skyscraper window. The water-pipe was never found, but it presumably shattered upon impact. Bynes was incarcerated by the New York Police Department. During this time, the actress accused law enforcement of sexual assaulting her in a very lewd manner. Her absurd claims were never substantiated. The case against her is pending, and she has been evicted from her residence.
This was not the first criminal case against Bynes; she is also dealing with hit-and-run allegations in California. It was also not her last interaction with the police. Most recently, the actress doused an elderly woman’s driveway in gasoline and set it ablaze. She accidentally covered a puppy in the flammable liquid, so she ran down the block looking for something to save the animal from catching fire. After ransacking a convenience store, officers accosted her. The exchange resulted in the psychiatric hold that has been placed on Bynes.
Unfortunately, grounds for conservatorship can be exceedingly challenging to meet. Clear proof of mental illness needs to provided, and the standards are rigidly strict; however, if anyone has showcased the fanatical craziness that constitutes a lack of personal responsibility, it is Amanda Bynes.
Her schizophrenia is no longer dormant. The actress has become obsessed with plastic surgery, and she has deformed her face with cheek piercings. She uses online social networks to decry public figures for their ugliness. Victims of this attack include even Barack and Michelle Obama. Furthermore, she makes offensive sexual remarks towards rappers, and she wants to be a hip-hop artist herself. She has spent fortunes on a wig collection, and she employs a different style at every court appearance. The actress even used one as a disguise for an incognito trip to a trampoline emporium.
Anyone that has seen her Nickelodeon program would not be shocked to learn that she was schizophrenic. The role had her switching between dozens of identities for different skits, and she even played a character that was, in effect, obsessively stalking the star herself. “The Amanda Show” was neurotically fast-paced. Ultimately, the entire program can now be viewed as an eerie foreshadowing to the budding of a latent psychological disorder. If the legal standards of insanity are not met, then she will be free to wreak havoc on herself and others.
Yakezie Beta Chapter Search
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In an effort to promote the crap out of the Yakezie Beta Chapter, I’ve created a search specific to us. This will make it easy to find Beta Challengers to promote.
The current list in the search is:
Live Real, Now
http://www.YourSmartMoneyMoves.com
http://meinmillions.blogspot.com/
http://www.rentingoutrooms.com
http://www.yesiamcheap.com
http://SimpleVesting.com
http://untildebtdouspart.blogspot.com/
http://www.blondeandbalanced.com
http://jamesfowlkes.com/
http://www.mightybargainhunter.com
http://www.beatingtheindex.com
http://www.thepassiveincomeearner.com
http://www.prairieecothrifter.com
http://sustainablepersonalfinance.com/
http://www.toddswanderings.com
More will be added as I have time to dig through the forums. If you’re a Beta Challenger and don’t see your name, leave a comment below and I’ll get you added ASAP.
The Secret to Fearless Change
Put one foot in front of the other
And soon you’ll be walking cross the floor
Put one foot in front of the other
And soon you’ll be walking out the door
You never will get where you’re going
If you never get up on your feet
Come on, there’s a good tail wind blowing
A fast walking man is hard to beat
Put one foot in front of the other
And soon you’ll be walking cross the floor
Put one foot in front of the other
And soon you’ll be walking out the door
If you want to change your direction
If your time of life is at hand
Well don’t be the rule be the exception
A good way to start is to stand
Put one foot in front of the other
And soon you’ll be walking cross the floor
Put one foot in front of the other
And soon you’ll be walking out the door
If I want to change the reflection
I see in the mirror each morn
You mean that it’s just my election
To vote for a chance to be reborn
Twitter Weekly Updates for 2010-07-10
- Happy Independence Day! Be thankful for what you've been given by those who have gone before! #
- Waiting for fireworks with the brats. Excitement is high. #
- @PhilVillarreal Amazing. I'm really Cringer. That makes me feel creepy. in reply to PhilVillarreal #
- Built a public life-maintenance calendar in GCal. https://liverealnow.net/y7ph #
- @ericabiz makes webinars fun! Even if her house didn't collapse in the middle of it. #
- BOFH + idiot = bad combination #
