As reported by the Wall Street Journal on January 9, 2012, Hostess Brands, Inc., is planning to seek protection under Chapter 11 of the Bankruptcy Code to restructure its company. Hostess Brands, Inc., is the baker of the legendary Twinkie snack cake. Could the good food police have finally brought down one of the poster children for unhealthy eating? Hopefully not.
The Journal further reported that the bankruptcy is being dubbed as a "Chapter 22" as Hostess Brands, Inc. had previously filed a Chapter 11 plan back in 2004. It came out of Bankruptcy in 2009 but continued to face economic challenges in this new economy. It was reported that Twinkie sales were down by 2% in its last fiscal year.
The goal for the privately owned company is to reduce its debt and renegotiate contracts with its unions. The filing is an indication of how broad the economic downturn is, and it is not limited to only housing and banking, but businesses as diverse as airlines and the food industry. If Hostess can not get a Plan approved by its creditors, it could face a sale or, a worse case scenario, liquidation, which could mean the end of a childhood memory for many, many people. However, on a serious note, the filing affects many employees and their families, so hopefully Hostess can come out stronger than after its last filling and continue to produce childhood memories and save the jobs of its employees.
Do you have childhood memories of Twinkies or Ho Ho's or some other favorite indulgence? Share it below.
A place to learn and discuss issues regarding business, debt relief, motivation and new beginnings.
Tuesday, January 10, 2012
Saturday, January 7, 2012
Thoughts for the New Year.
As we begin 2012, as President of the Charlotte County Chamber of Commerce, I am obviously a big proponent of Chambers as a way to Market your business. I urge you to take advantage of your local Chambers as a great way to jump start your business in 2012.
If you are a Charlotte County Chamber member, there are less than 30 days before the "Hottest Business Day in Paradise", the 2012 Charlotte County Business Expo, to be held at the
Charlotte Harbor Event Center on February 2, 2012. If you are not an
exhibitor, but would like to be, there are a limited number of booths remaining as of the writing
of this article. Go to the Charlotte County Chamber website for more information by clicking here. If you are not an exhibitor, please mark your calendar for February 2nd to
join us for an opportunity to meet over 100 local Chamber members who are
showcasing their businesses on this day. I am confident that if you attend
our Business Expo, and have the opportunity to meet 100 business owners in
Charlotte County, you will be able to walk away with at least one new
customer. Therefore, please put February 2nd on your calendar and don't
miss this opportunity to get a jump start for your business in 2012.
Our motto this year is The Charlotte County Chamber, "Your
Partner Takin' Care of Business". One of the ways we help you grow your
business is through the numerous networking opportunities that we provide in
addition to the Business Expo we are having in February. These other events
include our monthly coffees held on the third Wednesday of the month,
business card exchanges and lunches each month. Also, please take advantage
of our weekly e-newsletter Business Online to make announcements about your
business such as special offers, honors and awards as well as new employees
joining your company. It is the Chamber's goal to make 2012 one of the best
years for all of our members.
At the start of a new year, as a business owner, it is a great time to review the
past year to see what successes we had and capitalize on them further, as
well as tweak those areas of our business that could use improvement.
Examining ones processes and procedures is an important exercise in making
sure one's business continues to improve and provide the best possible
customer service. As I said before, a good business is not good enough in
the present economy and, to succeed, we must all try to be extraordinary in
our businesses and in our customer service.
On a final note, I believe that it is very important to sit down and write
down goals at the beginning of each year. I am not referring to resolutions
such as quitting smoking or losing weight that you make every year but are
not really motivated to do (like me) but, rather, goals that are material to
you in your business that will improve not only your business, but your
lifestyle. So my challenge to you is to write down five business goals and
five personal goals, and hang them some place where you will see them every
day. By looking at these goals, setting out a plan of action, and actually
taking steps towards them, you will have taken the first step in achieving
them. The biggest reason for people not reaching their goals is the fear of
taking that first step. However, once you get past that first step and take
action, the second step becomes easier and the momentum you build will lead
you to reaching your goals.
I would like to wish all of our clients, friends and family, a happy, healthy and prosperous New Year.
Mark Martella, Esq.
MARTELLA LAW FIRM, P.L.
18501 Murdock Circle
Suite 304
Port Charlotte, FL 33948
941-206-3700
941-206 3701 (Fax)
mark@martellalaw.com
www.martellalaw.com
Charlotte Harbor Event Center on February 2, 2012. If you are not an
exhibitor, but would like to be, there are a limited number of booths remaining as of the writing
of this article. Go to the Charlotte County Chamber website for more information by clicking here. If you are not an exhibitor, please mark your calendar for February 2nd to
join us for an opportunity to meet over 100 local Chamber members who are
showcasing their businesses on this day. I am confident that if you attend
our Business Expo, and have the opportunity to meet 100 business owners in
Charlotte County, you will be able to walk away with at least one new
customer. Therefore, please put February 2nd on your calendar and don't
miss this opportunity to get a jump start for your business in 2012.
Our motto this year is The Charlotte County Chamber, "Your
Partner Takin' Care of Business". One of the ways we help you grow your
business is through the numerous networking opportunities that we provide in
addition to the Business Expo we are having in February. These other events
include our monthly coffees held on the third Wednesday of the month,
business card exchanges and lunches each month. Also, please take advantage
of our weekly e-newsletter Business Online to make announcements about your
business such as special offers, honors and awards as well as new employees
joining your company. It is the Chamber's goal to make 2012 one of the best
years for all of our members.
At the start of a new year, as a business owner, it is a great time to review the
past year to see what successes we had and capitalize on them further, as
well as tweak those areas of our business that could use improvement.
Examining ones processes and procedures is an important exercise in making
sure one's business continues to improve and provide the best possible
customer service. As I said before, a good business is not good enough in
the present economy and, to succeed, we must all try to be extraordinary in
our businesses and in our customer service.
On a final note, I believe that it is very important to sit down and write
down goals at the beginning of each year. I am not referring to resolutions
such as quitting smoking or losing weight that you make every year but are
not really motivated to do (like me) but, rather, goals that are material to
you in your business that will improve not only your business, but your
lifestyle. So my challenge to you is to write down five business goals and
five personal goals, and hang them some place where you will see them every
day. By looking at these goals, setting out a plan of action, and actually
taking steps towards them, you will have taken the first step in achieving
them. The biggest reason for people not reaching their goals is the fear of
taking that first step. However, once you get past that first step and take
action, the second step becomes easier and the momentum you build will lead
you to reaching your goals.
I would like to wish all of our clients, friends and family, a happy, healthy and prosperous New Year.
Mark Martella, Esq.
MARTELLA LAW FIRM, P.L.
18501 Murdock Circle
Suite 304
Port Charlotte, FL 33948
941-206-3700
941-206 3701 (Fax)
mark@martellalaw.com
www.martellalaw.com
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