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via Rachel Feintzeig, The Wall Street Journal Hostess Brands Inc., the maker of iconic treats such as Twinkies and traditional pantry staple Wonder Bread, said Friday it is shuttering its plants and firing about 18,000 workers as it seeks to liquidate the 82-year-old business. The collapse and probable liquidation of Twinkie-maker Hostess Brands is a … Continue reading
via The Economist Not since 1933 had an American president taken the oath of office in an economic climate as grim as it was when Barack Obama put his left hand on the Bible in January 2009. The banking system was near collapse, two big car manufacturers were sliding towards bankruptcy; and employment, the housing … Continue reading
via Louis Peitzman, Gawker “Retroactively” is a word that might haunt Mitt Romney for some time. The Republican nominee has been railing against President Obama’s campaign ads, calling Obama’s assertion that Romney lied about his time at Bain Capital “false and deceptive and dishonest.” The ads, however, are based on the Boston Globe’s findings that … Continue reading
The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely … Continue reading
The Brandt Standard 