Wednesday, November 21, 2012

Hormel’s Profits Hit Record $500 Million

Hormel Food Corp.'s profits soared to a record $500.1 Million for the Fiscal Year 2012.

The Austin Daily Herald  reports that 

"That’s up 5 percent from $474.2 million, or $1.74 per share, in 2011, and the company also hit a record $8.23 billion in total sales, up 4 percent from last year’s $7.9 billion"

The company also reported that the Jennie-O turkey division saw a profit increase of 16% over last year.

Source: Austin Daily Herald

Sunday, June 5, 2011

Missouri Farmers Reaching Out To Families In Need

Missouri Farmers Care along with the Missouri State Fair and Ford auto dealers announced today a summer-long food drive campaign to benefit Missouri’s six food banks.

Concluding with “Missouri Farmers Care Food Drive Tuesday!” at the 2011 Missouri State Fair, the campaign aims to help the roughly 343,000 Missourians experiencing hunger.

Beginning in June, Missouri Ford dealerships will collect canned food donations through Aug. 15 in exchange for dollar-off Missouri State Fair admission coupons. Additionally, Missouri farmers and Ford will collect canned food items at the fair entrance Tuesday, Aug. 16 for a one dollar discount on fair admission.

“We look forward to working closely with the Missouri State Fair and Ford to help those in need,” said Missouri Farmers Care Chairman Don Nikodim. “Nearly 16 percent of our state faces food insecurity, with many of those individuals living in rural areas. By collecting food and partnering with the state’s food banks we can help provide safe, nutritious food to families in need.”

The announcement was made during a live AgriTalk broadcast at The Food Bank for Central & Northeast Missouri. Participating adults may redeem dollar-off coupons for up to four canned food items; seniors three; and children a maximum of one item. All donations collected will be distributed to the six Missouri food banks that serve the state’s 114 counties.

Additional information regarding Missouri Farmers Care and Missouri agriculture can be found at

Food Before Profit

Thursday, July 23, 2009

Chipotle's Profits Rise on Higher Prices and Low Workers' Pay

Chipotle Mexican Grill
Chipotle Mexican Grill just released their quarterly profits --- a gigante 44.7% increase in net income of over $35,000,000!

That's bigger than their calorie-busting fajita burritos!

Chipotle posted their bigger-than-expected profit gain to the surprise of many Wall Street analysts. Although a once-darling of the street, recent economic times has taken a toll.

The startling increase was helped by their recent menu price increases, more "efficient labor staffing" (think "do more with less") and other cost cutting moves.

And about those low costs.

The Coalition for Immokalee Workers in Florida have been protesting Chipotle's refusal to join other fast food giants (including McDonald's, YUM Brnads and Burger King) in paying a higher wage to Florida tomato workers.

According to the group that is fighting to improve the lives of the farmworkers:
"We view the CIW’s struggle for dignity as a non-negotiable part of the struggle for a sustainable food system. Therefore, we strongly urge you to enter into an agreement with this worker-led organization that has been fighting tirelessly to improve conditions in tomato country since 1993...and Chipotle's refusal to sign an agreement with the CIW only bolsters the growers’ intransigence."
For a company that hypes itself as "Food with Integrity", it seems moral value does have a price.

Friday, May 15, 2009

Kraft Foods Profits on Higher Food Prices

Kraft Foods EthanolKraft Foods Inc. said its first-quarter profit rose 10 percent in its recent earnings report.

This from the giant foodmaker who blames American agriculture for its need to raise food prices.

The maker of well-known brands as Velveeta, Oreo cookies and Maxwell House coffee says it plans to focus more on its core products where it can make even more money.  

Of course, this means keeping food prices high and blaming others.

Kraft said it earned $660 million, or 45 cents per share in the three-month period ending in March. That compares to a profit of $599 million, or 39 cents per share, a year earlier, when results were dampened by $98 million in restructuring costs.

Last year during high energy prices, Kraft and others at  the Grocery Manufacturers Associations started a a high-priced public relations campaign to blame the higher food costs on American  agriculture and  the renewable fuels industry.

Source: Kraft Foods

Wednesday, August 6, 2008

Dean Foods' Profits Soar 72%

Dean FoodsThere's no need to cry over spilled milk over at Dean Foods. Second quarter profits rose 72%.

With that profit increases, milk shuld be flowing like champagne!

The nation's largest dairy company reported (pdf) second-quarter net income of $48.9 million compared with $28.4 million a year earlier. Sales rose 9% to $3.1 billion due to higher milk and dairy prices.

Although we don't deny any company its just profits, we find yet another leading member of the Grocery Manufacturers Association (GMA) with record-breaking profits.

But all the while, the leaders of the GMA blame higher food prices on the backs of American farmers and supporters of biofuels.

Now THAT"S something to cry about.

Source: Dean Foods

Food Before Profit

Friday, August 1, 2008

Kraft's Krafty Profits

Kraft Foods, Inc.Kraft Foods reported its second-quarter profits rose nearly 4%.

The consumer food maker said this week that its profit rose to $732 million, or 48 cents per share, from $707 million, or 44 cents per share, a year earlier.

And Net revenues increased 21.4% to a healthy $11.2 billion.

It's amazing what raising food prices will do to revenue and profits.

What's even more amazing is that Kraft and the Grocery Manufacturers Association have been such critics of biofuels, blaming them primarily for food price increases.

But who's to blame for even higher profits?

Source: Kraft Foods


Food Before Profit

Sunday, July 27, 2008

Sick from Bad Food? Thank Big Food!

Big Food SicknessWith the recent outbreak of Salmonella sweeping the country, one has to ask, "Why Don't They Know What's Causing the Sickness That's Killing Us"?

First it was suspected to be tomatoes. Now the investigators are targeting jalapeno peppers. But still, no definite answers.

Apparently, the FDA has limited tracking capabilities to determine the source of the bad food.

And why might that be? As they say..."Follow the Money".

According to this AP/MSNBC story, Food Industry Bitten By Its Lobbying Success" the money trail leads back to the Grocery Manufacturers Association and to other leading Big Food companies who used their profits to influence food safety legislation.
The industry pressured the Bush administration years ago to limit the paperwork companies would have to keep to help U.S. health investigators quickly trace produce that sickens consumers, according to interviews and government reports reviewed by The Associated Press.
The list of companies who attended White House meetings to put pressure to water-down food-terrorism regulations reads like a who's-who of Big Food:
  • Kraft Foods Inc.;
  • The Kroger Co.;
  • Safeway Inc.;
  • ConAgra Foods Inc.;
  • The Procter & Gamble Co.;
  • the American Forest and Paper Association;
  • the Polystyrene Packaging Council; the Glass Packaging Institute;
  • the Cocoa Merchants' Association of America;
  • the World Shipping Council; and,
  • the Food Marketing Institute.
The food groups also spent millions to defend its positions:
"The Grocery Manufacturers Association spent $2.6 million on lobbing in 2003 and 2004, the period when the FDA rules were under consideration, according to federal lobbying records. The Food Marketing Institute spent $1.7 million during the period. The figures were for all lobbying by the trade groups and on their behalf."
The Big Food companies keep more profits but millions are at risk with limited ability to track the source of the contaminated foods. And we the taxpayers get to pick up the bill trying to find out.

Great. And if this had been a purposeful attack on the country, then what? Not eat anything?

For more information on food safety, check out this site,

Source: MSNBC, FDA

Food Before Profit