Are You Part of the Disappearing Middle Class?

January 11, 2012

If part of the American dream is that your children will do better than you did in life, this country is headed in the wrong direction. Nearly one third of Americans who were raised in the middle class dropped down the economic ladder as adults — and that’s before the Great Recession hit.  Click here to learn more and see a report by CNN.

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Oh no! Twinkies and HoHos Go Bust

January 11, 2012

Hostess Brands, the maker of famous snack foods such as Twinkies and CupCakes, has filed for bankruptcy.Don’t look now, but the maker of Twinkies and HoHos and Ding Dongs, along with other iconic snack foods of many generations gone by, has succumbed to the bad economy.  Hostess Brands has filed for Chapter 11.

Breathe easy, though, the company says it will still continue churning out it’s classic snack cakes through-out the proceeding. Phew!

A company spokesman says Hostess does not plan to lay off any of its employees or close any plants. So the CupCakes and Sno Balls will keep on coming.

The company has about 19,000 full-time and part-time employees, including 10,413 hourly workers and 8,436 salaried workers, according to a court filing. About 83% of the employees are union members.