NEIL CAVUTO, HOST: My worst nightmare became a reality when the maker of Yodels, Interstate Bakeries (search), filed for Chapter 11 bankruptcy (search). And if my next guest has his way, the company will be back at full baking strength. But will it?
With us now on the phone from Kansas City, the man who was hired to save the company, Tony Alvarez. Tony is Interstate Bakeries' new CEO.
Mr. Alvarez, thank you for joining us.
TONY ALVAREZ, CEO, INTERSTATE BAKERIES (IBC): Pleasure to be here.
CAVUTO: Did Atkins kill you?
ALVAREZ: No. I think it was part of it. The low-carb change in consumer habits was part of it. But it was not all of it.
CAVUTO: So you didn't want to come up with a low-carb Yodel?
ALVAREZ: Well, I just think the company, with hindsight, had to come up with new products and other products that would be more responsive and develop products that are more responsive to shifting tastes.
CAVUTO: Well, apparently part of those shifting tastes -- I can't fathom it myself, I mean -- is that people find that your stuff is junk food. How do you counter that?
ALVAREZ: Oh, I think most people who say that are very old people.
CAVUTO: Or just ridiculously...
ALVAREZ: ... million dollars of something. And our products are still being consumed.
In terms of our white bread and the cake category, we still have a lot of people, including the very, very young, the kids, that consume it a lot, so I just think that people are overreacting in their perceptions.
CAVUTO: What's your favorite snack food there?
ALVAREZ: I've got such a sweet tooth, man.
CAVUTO: You've got to have a favorite.
ALVAREZ: Count me as a Ho-Ho guy.
CAVUTO: Really? Now see, you would have struck me as a Twinkies (search) guy, but the Ho-Ho.
All right, well, we wish you well on this turn-around, but if you see a price jump, it's because I'm cornering the Yodel market. I've got about 50 cases.
ALVAREZ: Eat more. Eat more of it!
CAVUTO: Tony Alvarez, thank you very much, appreciate it.
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