A federal judge has blessed the Hostess liquidation, after labor and management failed to reach agreement on an equitable solution. This isn’t surprising at all; management was basically set up to liquidate the company and strip the assets. Twinkies and Ding Dongs will survive; the company has solicited several offers for the brands. It’s just the 18,500 employees who will be out of luck; even if some of them get retained after the fire sale, getting absorbed into a new company almost certainly means that they will not all get their jobs back.
Meanwhile the executives will get a BONUS for all this.