Damn, according to everyone here it was an evil Republican hedge fund Manager who killed the Twinkie.
Wrong, it was a compassionate Democrat Hedge Fund manager Who killed it.
Wasn't it the Democrats who blasted Romney for his funds buying companies and then gouging them with consulting and management fees???
BY: Washington Free Beacon Staff
January 31, 2013 5:11 pm
Timothy Collins, the CEO of private equity firm Ripplewood Holdings, was the lone donor to the Super PAC dedicated to helping Democratic Senate candidates disclosed in the year-end filing. Collins contributed at least $10,000 to Majority PAC, according to the dark money group’s most recent FEC filing.
Ripplewood Holdings is most infamous for killing Twinkies and all the other delicious Hostess products.
Ripplewood, which was founded by Timothy C. Collins, a major Democratic donor, is expected to lose most, if not all, of the $130 million or so it invested in Hostess. …Hostess shut down in November 2012. Collins also contributed at least $200,000 to Obama’s Super PAC in October 2012, the month before the Twinkie died.
Having said all that, Ripplewood’s management was far from a model for the industry. For at least the first year of the new ownership, Ripplewood charged Hostess management and consulting fees, according to people briefed on the payments, which were “in the millions of dollars.”
This entry was posted in Democratic Donors and tagged Priorities USA, Timothy Collins.