Cake wreck: Hostess from icon to bust

How the baker went from the lunchbox to a series of bankruptcy courts.

1925: Continental Baking Co. buys Taggart Baking, maker of Wonder Bread. Continental becomes the largest bakery in the U.S.

1930: Continental baker James Dewar (right) gets the idea to make an inexpensive cream-filled sponge cake using strawberry shortcake equipment that sat idle in the off-season. The Twinkie is born.

By Anne VanderMey, reporter @CNNMoney - Last updated July 26 2012: 5:42 AM ET
Join the Conversation
Indra Nooyi's Pepsi challenge

By the numbers, PepsiCo has done a pretty good job since she took the helm six years ago. So why is the CEO taking so much heat from investors?