Hostess Brands today begins the process of selling off its assets in a bankruptcy court in New York. That process has struck fear in the hearts of lovers of the sugary-sweet Hostess products, like Twinkies, Ding Dongs and Ho Hos. Sensing a Twinkie panic and a possible shortage, over the weekend some entrepreneurs took to eBay, offering up many Hostess brands at some very exorbitant prices.
It's an anniversary that most Americans can celebrate — the birthday of the big-box store. Discount shopping as we know it began 50 years ago. In 1962, enterprising retailers invented Wal-Mart, Target and Kmart.
The White House and Congress continue to work on a deal that avoids the fiscal cliff and cuts deficits in the long run. One of the biggest hurdles is President Obama's proposal to raise tax rates for the wealthy.
Republicans think a better course would be to raise revenue by closing loopholes and limiting deductions for high-income people. The question is, could that method raise enough money.