America let out a collective sigh of relief on Monday, when Hostess and its striking union, the Bakery, Confectionery, Tobacco Workers and Grain Millers International, agreed to mediation talks, staving off liquidation -- and the possible but not very likely demise of the Twinkie -- for at least a day.
It's been a day, and it's now clear the talks went exactly nowhere. Hostess posted a note on a website devoted to blaming striking workers for its demise announcing that mediation had failed. It will move to liquidate just as soon as it can get through a bankruptcy hearing scheduled for 10 a.m. today.
And you only thought you were done stockpiling Twinkies.