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By David A. Clarke Jr.
Planning for the last attack doesn't make Americans safer
Topic - Brian Driscoll
Hostess Brands Inc., the maker of Twinkies and Wonder Bread, is seeking bankruptcy protection, blaming its pension and medical benefits obligations, increased competition and tough economic conditions.
Hostess Brands, having already filed once for Chapter 11 bankruptcy, is the latest company to commit serial bankruptcy - what jokesters call the dreaded "Chapter 22."
"With these changes, we can access capital to reinvest in our company again and begin to level the playing field with our competitors," Mr. Driscoll said. "This company has tremendous potential if we can remove the barriers to success."
"Hostess has some of our industry's most powerful and resilient brands," President and CEO Brian Driscoll said in a statement. "With generations of loyal consumers, numerous iconic products and a talented and experienced workforce, Hostess Brands has tremendous inherent strengths to build upon."