tag:blogger.com,1999:blog-78199414941945867682024-03-05T21:42:40.765-08:00Food Before ProfitFood Before Profit provides balanced news about the food industryRodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-7819941494194586768.post-26067144254744982492012-11-21T07:59:00.003-08:002012-11-21T07:59:42.820-08:00Hormel’s Profits Hit Record $500 Million<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicrvdnoDaLR7r8N0Msd21zSOsL4oE5S1HIZfvsHTnk4jSvvxF9jDT7IAUk4Oogt68fA87uG5W9RCCPUtP9pwlvhL-gpIhW_tgQc6nmxzSNfDv6jb5xEzR1kYvN9r2lNznPUwWOpQyU_vI/s1600/HormelAnnualProfits.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEicrvdnoDaLR7r8N0Msd21zSOsL4oE5S1HIZfvsHTnk4jSvvxF9jDT7IAUk4Oogt68fA87uG5W9RCCPUtP9pwlvhL-gpIhW_tgQc6nmxzSNfDv6jb5xEzR1kYvN9r2lNznPUwWOpQyU_vI/s200/HormelAnnualProfits.jpg" width="180" /></a></div>
Hormel Food Corp.'s profits soared to a record $500.1 Million for the Fiscal Year 2012.<br />
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<span style="font-family: inherit;">The Austin Daily Herald reports that </span><br />
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<span style="font-family: inherit;">"<i style="color: #333333; line-height: 18px;">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"</i></span><br />
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The company also reported that the Jennie-O turkey division saw a profit increase of 16% over last year.<br />
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Source: <a href="http://www.austindailyherald.com/2012/11/20/hormels-net-earnings-hits-500m-for-year/">Austin Daily Herald</a>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-13314801928665296662011-06-05T05:42:00.000-07:002011-06-05T05:43:30.336-07:00Missouri Farmers Reaching Out To Families In Need<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwhRUvdVI87z8FIGYLc10zWkG3ofEM8A9xwP5B89d0KZmqFBMXzV_6GN5_e0fkmw-sudW-EpYBxX4asrKN57BuvH0-D0mTrUFlC4gsc5Xd4MIGzp8rK2ft0nHKJmGHHPOK8rodiE-8k5U/s1600/Mo-Farmers-Care-Food-Bank-300x171.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="114" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwhRUvdVI87z8FIGYLc10zWkG3ofEM8A9xwP5B89d0KZmqFBMXzV_6GN5_e0fkmw-sudW-EpYBxX4asrKN57BuvH0-D0mTrUFlC4gsc5Xd4MIGzp8rK2ft0nHKJmGHHPOK8rodiE-8k5U/s200/Mo-Farmers-Care-Food-Bank-300x171.jpg" width="200" /></a></div>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.<br />
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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.<br />
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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.<br />
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“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.”<br />
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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.<br />
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Additional information regarding Missouri Farmers Care and Missouri agriculture can be found at <a href="http://www.mofarmerscare.com/">www.MoFarmersCare.com</a>.<br />
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<span class="Apple-style-span" style="color: #333333; font-family: Georgia, serif; font-size: 13px; line-height: 20px;"><span style="font-style: italic; font-weight: bold;">Food Before Profit</span></span><span class="Apple-style-span" style="color: #333333; font-family: Georgia, serif; font-size: 13px; line-height: 20px;"><br />
</span><span class="Apple-style-span" style="color: #333333; font-family: Georgia, serif; font-size: 13px; line-height: 20px;"><a href="http://www.foodbeforeprofit.com/" style="color: #11593c; font-style: italic; text-decoration: none;">http://www.foodbeforeprofit.com</a></span>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-20509055625596816482009-07-23T06:15:00.000-07:002009-07-23T07:36:41.669-07:00Chipotle's Profits Rise on Higher Prices and Low Workers' Pay<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVoJqw87Cz1S3hMdPu_lXMtxTAQD8k9k2M2oRYM2udWZqyd7gaxhaSthxa-dOZ580G7QM04VN_B-95UrZ06bWe68UJX1xN9-MXJfHaZb5rPWVPuUZBUqd-KADCq8QGsLyTOdv0gFvCakc/s1600-h/chipotle+logo2.jpg"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 121px; height: 118px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVoJqw87Cz1S3hMdPu_lXMtxTAQD8k9k2M2oRYM2udWZqyd7gaxhaSthxa-dOZ580G7QM04VN_B-95UrZ06bWe68UJX1xN9-MXJfHaZb5rPWVPuUZBUqd-KADCq8QGsLyTOdv0gFvCakc/s320/chipotle+logo2.jpg" border="0" alt="Chipotle Mexican Grill" id="BLOGGER_PHOTO_ID_5361649935330196210" /></a><div>Chipotle Mexican Grill just <a href="http://phx.corporate-ir.net/phoenix.zhtml?c=194775&p=irol-newsArticle&ID=1310158&highlight=">released</a> their quarterly profits --- a gigante 44.7% increase in net income of over $35,000,000! </div><div><br /></div><div> That's bigger than their calorie-busting fajita burritos!</div><div><br /></div><div>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. </div><div><br /></div><div>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.<br /><div><br /></div><div>And about those low costs. </div><div><br /></div><div>The Coalition for Immokalee Workers in Florida have been <a href="http://www.ciw-online.org/Chipotle_PR_crash.html">protesting</a> 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.</div><div><br /></div><div>According to the <a href="http://www.ciw-online.org/letter_to_Chipotle.html">group </a>that is fighting to improve the lives of the farmworkers:</div><div><i><blockquote>"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."</blockquote></i></div><div>For a company that hypes itself as "Food with Integrity", it seems moral value does have a price.</div><div><br /></div><div>Source: <a href="http://phx.corporate-ir.net/phoenix.zhtml?c=194775&p=irol-newsArticle&ID=1310158&highlight=">Chipotle Investor Relations</a></div><div><br /></div><div><span style="font-weight: bold; ">READ MORE</span><br /><ul><li><a href="http://www.foodbeforeprofit.com/2009/05/kraft-foods-profits-on-higher-food.html">Kraft Foods Profits on Higher Food Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/08/dean-foods-profits-soar-72.html">Dean Foods Profits Soar 72%</a></li><li><a href="http://www.foodbeforeprofit.com/2008/08/krafts-krafty-profits.html">Kraft's Krafty Profits</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/del-monte-foods-profits-soar-on-higher.html">Del Monte Foods' Profits Soar on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li></ul><span style="font-weight: bold; font-style: italic; ">Food Before Profit</span><br /><a href="http://www.foodbeforeprofit.com/" style="font-style: italic; ">http://www.foodbeforeprofit.com</a></div><div><br /></div></div>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-28321792483860134862009-05-15T14:42:00.000-07:002009-05-26T13:41:43.019-07:00Kraft Foods Profits on Higher Food Prices<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUAE018MiwoNbrJVjZqZOf52avmjoLJBheX16idKGjF3EmfDw_WlGlFP-Kmabv0dVqns9cfSLVV4jDKTrMTrSi1UpaT_Z4vRZ2e3wkMaJyH3qHKxGBMUZy6jPGNFu-mzJi2N84bjv6L7Y/s1600-h/kraft+foods.jpg"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 150px; height: 60px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUAE018MiwoNbrJVjZqZOf52avmjoLJBheX16idKGjF3EmfDw_WlGlFP-Kmabv0dVqns9cfSLVV4jDKTrMTrSi1UpaT_Z4vRZ2e3wkMaJyH3qHKxGBMUZy6jPGNFu-mzJi2N84bjv6L7Y/s320/kraft+foods.jpg" border="0" alt="Kraft Foods Ethanol" id="BLOGGER_PHOTO_ID_5336428138690784370" /></a>Kraft Foods Inc. said its first-quarter profit rose 10 percent in its recent earnings report.<div><br /></div><div>This from the giant foodmaker who blames American agriculture for its need to raise food prices.<br /><div><br /></div><div>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. </div><div><br /></div><div>Of course, this means keeping food prices high and blaming others.<br /><br />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.<br /><br /></div><div>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.<br /><div><br /></div><div>Source: <a href="http://phx.corporate-ir.net/phoenix.zhtml?c=129070&p=irol-newsArticle&ID=1284143">Kraft Foods</a></div><div><br /></div><div><span style="font-weight: bold; ">READ MORE</span><br /><ul><li><a href="http://www.foodbeforeprofit.com/2008/08/dean-foods-profits-soar-72.html">Dean Foods Profits Soar 72%</a></li><li><a href="http://www.foodbeforeprofit.com/2008/08/krafts-krafty-profits.html">Kraft's Krafty Profits</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/del-monte-foods-profits-soar-on-higher.html">Del Monte Foods' Profits Soar on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li></ul><span style="font-weight: bold; font-style: italic; ">Food Before Profit</span><br /><a href="http://www.foodbeforeprofit.com/" style="font-style: italic; ">http://www.foodbeforeprofit.com</a><br /></div></div></div>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-87645034917055235722008-08-06T15:49:00.000-07:002008-08-06T15:59:51.285-07:00Dean Foods' Profits Soar 72%<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4rzsKSv4a_BMAMr7QhvWYn3IdzhyphenhyphenVcYMTLrCxBu750WTu0MDj-t-gPUc5qG0QZUziQii1kcMs77E0PkJyoN-Gygg5exGRfA_gh4QqcfcFarH8UIq8CqzMAb83JBI7xhTiRigDTcM0lPA/s1600-h/Dean+Foods.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4rzsKSv4a_BMAMr7QhvWYn3IdzhyphenhyphenVcYMTLrCxBu750WTu0MDj-t-gPUc5qG0QZUziQii1kcMs77E0PkJyoN-Gygg5exGRfA_gh4QqcfcFarH8UIq8CqzMAb83JBI7xhTiRigDTcM0lPA/s320/Dean+Foods.jpg" alt="Dean Foods" id="BLOGGER_PHOTO_ID_5231541181663501074" border="0" /></a>There's no need to cry over spilled milk over at Dean Foods. Second quarter profits rose 72%.<br /><br />With that profit increases, milk shuld be flowing like champagne!<br /><br />The nation's largest dairy company <a href="http://media.corporate-ir.net/media_files/irol/88/88165/Q2_EarningsReleaseFinal.pdf" target="_blank">reported (pdf)</a> 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.<br /><br />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.<br /><br />But all the while, the leaders of the GMA blame higher food prices on the backs of American farmers and supporters of biofuels.<br /><br />Now THAT"S something to cry about.<br /><br />Source: <a href="http://www.deanfoods.com/" target="_blank">Dean Foods</a><br /><br /><span style="font-weight: bold;">READ MORE</span><br /><ul><li><a href="http://www.foodbeforeprofit.com/2008/08/krafts-krafty-profits.html">Kraft's Krafty Profits</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/del-monte-foods-profits-soar-on-higher.html">Del Monte Foods' Profits Soar on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li></ul><span style="font-weight: bold; font-style: italic;">Food Before Profit</span><br /><a style="font-style: italic;" href="http://www.foodbeforeprofit.com/">http://www.foodbeforeprofit.com</a>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-11961070877057258002008-08-01T12:08:00.000-07:002008-08-01T12:30:15.777-07:00Kraft's Krafty Profits<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgPpC9y3jqaZPdwX-9lBMrd9L8i_cmXBxoJ-TfZfGIxzxG_0chjcbDa6V1qM7RqRKHP4jxigXZA0DALPlbAhufY8QzESv6yWgIyfKX27aHhbo1oVOal0eE6sB0YnZoPiKUnCLiTKwT3ctM/s1600-h/kraft+foods.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgPpC9y3jqaZPdwX-9lBMrd9L8i_cmXBxoJ-TfZfGIxzxG_0chjcbDa6V1qM7RqRKHP4jxigXZA0DALPlbAhufY8QzESv6yWgIyfKX27aHhbo1oVOal0eE6sB0YnZoPiKUnCLiTKwT3ctM/s320/kraft+foods.jpg" alt="Kraft Foods, Inc." id="BLOGGER_PHOTO_ID_5229629923218064610" border="0" /></a>Kraft Foods <a href="http://phx.corporate-ir.net/phoenix.zhtml?c=129070&p=irol-newsArticle&ID=1179876" target="_blank">reported </a>its second-quarter profits rose nearly 4%.<br /><br />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.<br /><br />And Net revenues increased 21.4% to a healthy $11.2 billion.<br /><br />It's amazing what raising food prices will do to revenue and profits.<br /><br />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.<br /><br />But who's to blame for even higher profits?<br /><br />Source: <a href="http://www.kraft.com/default.htm" target="_blank">Kraft Foods</a><br /><br /><span style="font-weight: bold;">READ MORE</span><br /><ul><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/dean-foods-co.html">Dean Foods Profits on Higher Dairy Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/del-monte-foods-profits-soar-on-higher.html">Del Monte Foods' Profits Soar on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li></ul><span style="font-weight: bold; font-style: italic;"><br />Food Before Profit</span><br /><a style="font-style: italic;" href="http://www.foodbeforeprofit.com/">http://www.foodbeforeprofit.com</a>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-17345699518686482632008-07-27T09:16:00.000-07:002008-07-27T09:58:08.266-07:00Sick from Bad Food? Thank Big Food!<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTFNtfgWwjRv5eQDtVzzzKt74UAetgSgVj2IRaO3xMMvo8U4doq1KDDGI7D2d0Um57Ctez2OtQJGUqImniym4bruUVyDJQdvwraJ4C8xaLMquX7nxavMeCJ3Bjdc9CGio1zrX0hx8Vg1M/s1600-h/Sick.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTFNtfgWwjRv5eQDtVzzzKt74UAetgSgVj2IRaO3xMMvo8U4doq1KDDGI7D2d0Um57Ctez2OtQJGUqImniym4bruUVyDJQdvwraJ4C8xaLMquX7nxavMeCJ3Bjdc9CGio1zrX0hx8Vg1M/s320/Sick.jpg" alt="Big Food Sickness" id="BLOGGER_PHOTO_ID_5227729234443960434" border="0" /></a>With the recent outbreak of <a href="http://www.fda.gov/oc/opacom/hottopics/tomatoes.html" target="_blank">Salmonella sweeping the country</a>, one has to ask, "Why Don't They Know What's Causing the Sickness That's Killing Us"?<br /><br />First it was suspected to be tomatoes. Now the investigators are targeting jalapeno peppers. But still, no definite answers.<br /><br />Apparently, the FDA has limited tracking capabilities to determine the source of the bad food.<br /><br />And why might that be? As they say..."Follow the Money".<br /><br />According to this AP/MSNBC story, <a href="http://www.msnbc.msn.com/id/25847553/" target="_blank">Food Industry Bitten By Its Lobbying Success</a>" 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.<br /><span style="font-style: italic;"></span><blockquote><span style="font-style: italic;">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.</span></blockquote>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:<br /><ul><li>Kraft Foods Inc.;</li><li>The Kroger Co.; </li><li>Safeway Inc.; </li><li>ConAgra Foods Inc.; </li><li>The Procter & Gamble Co.; </li><li>the American Forest and Paper Association; </li><li>the Polystyrene Packaging Council; the Glass Packaging Institute; </li><li>the Cocoa Merchants' Association of America; </li><li>the World Shipping Council; and, </li><li>the Food Marketing Institute.<br /></li></ul>The food groups also spent millions to defend its positions:<br /><span style="font-style: italic;"></span><blockquote><span style="font-style: italic;">"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.</span>"<br /></blockquote>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.<br /><br />Great. And if this had been a purposeful attack on the country, then what? Not eat anything?<br /><br />For more information on food safety, check out this site, <a href="http://www.foodsafety.gov/">www.foodsafety.gov</a><br /><br />Source: <a href="http://www.msnbc.msn.com/id/25847553/" target="_blank">MSNBC</a>, <a href="http://www.fda.gov/oc/opacom/hottopics/tomatoes.html" target="_blank">FDA</a><br /><br /><span style="font-weight: bold;">READ MORE</span><br /><ul><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li></ul><span style="font-weight: bold; font-style: italic;">Food Before Profit</span><br /><a style="font-style: italic;" href="http://www.foodbeforeprofit.com/">http://www.foodbeforeprofit.com</a>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-9687115963065690472008-07-04T11:32:00.000-07:002008-07-04T12:08:36.681-07:00Poultry Producer Pilgrim Prompts Perry's Political Punch<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXLrtflI-Ak4oY4P3HxGzu5DA0NutYecNO7XF70Gybl2dpDUY2UWYqXmfx8xojAn9wPQEX5o3GvO_8dloUdTJ9-5O_SJvfPzSbPFcoWphI0LU0t5WpP7ROxr3kdnBks8Z4PQWWofvrYXI/s1600-h/Rick+Perry+Pilgrims+Pride.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXLrtflI-Ak4oY4P3HxGzu5DA0NutYecNO7XF70Gybl2dpDUY2UWYqXmfx8xojAn9wPQEX5o3GvO_8dloUdTJ9-5O_SJvfPzSbPFcoWphI0LU0t5WpP7ROxr3kdnBks8Z4PQWWofvrYXI/s320/Rick+Perry+Pilgrims+Pride.jpg" alt="Texas Governor Rick Perry Pilgrims Pride Ethanol" id="BLOGGER_PHOTO_ID_5219230933352458370" border="0" /></a>Or, "How Big Chicken Bought Texas Governor's Action".<br /><br />In this report on <a href="http://www.cbsnews.com/stories/2008/07/02/politics/politico/thecrypt/main4228863.shtml" target="_blank">CBSNews.com</a>, it's reported that Texas Governor Rick Perry took action to request a waiver from the RFS after a $100,000 donation was made by Bo Pilgrim of Pilgrims Pride.<br /><br />The report noted the investigation by the Houston Chronicle:<br /><blockquote><span style="font-style: italic;">"Gov. Rick Perry's request for a waiver of federal corn-based ethanol production mandates was prompted by a March meeting he had with East Texas poultry producer Lonnie 'Bo' Pilgrim, who six days later gave $100,000 to the Republican Governors Association chaired by Perry,"</span></blockquote>It's no wonder that many American's have such low regard for their elected leaders. Rather than looking at the real issues involved with food costs, the Governor appears to have sided with a political contribution.<br /><br />Source: <a href="http://www.cbsnews.com/">CBSNews</a><br /><br /><span style="font-weight: bold;">READ MORE</span><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html"><br /></a> <ul><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a><br /></li><li><a href="http://www.foodbeforeprofit.com/2008/06/del-monte-foods-profits-soar-on-higher.html">Del Monte Foods' Profits Soar on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/general-mills-profit-perspective.html">General Mills' Profit Perspective</a></li></ul><span style="font-weight: bold; font-style: italic;">Food Before Profit</span><br /><a style="font-style: italic;" href="http://www.foodbeforeprofit.com/">http://www.foodbeforeprofit.com</a>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-10353382715758610852008-06-27T04:38:00.000-07:002008-06-27T05:09:59.687-07:00Dean Foods Profits on Higher Dairy Prices<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbGclZwltRbiEdu3Xm7Xz95J5-2BpycF4cFQcU8FWp5ofvq2hEvT04wwJP0DRHOx7_Z18i2WVKdiCg3ZeA5XSnpAiK5dLqpUxakp2NYUxHGIbmPvQcCLMx60l8nJQa7qK4j3JKTzN5oJo/s1600-h/Dean+Foods.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbGclZwltRbiEdu3Xm7Xz95J5-2BpycF4cFQcU8FWp5ofvq2hEvT04wwJP0DRHOx7_Z18i2WVKdiCg3ZeA5XSnpAiK5dLqpUxakp2NYUxHGIbmPvQcCLMx60l8nJQa7qK4j3JKTzN5oJo/s320/Dean+Foods.jpg" alt="Dean Foods Ethanol milk prices" id="BLOGGER_PHOTO_ID_5216339473268520210" border="0" /></a>Dean Foods Co. raised its second-quarter earnings guidance on Wednesday, due in part to a strong performance by its direct store delivery dairy segment. Dean Foods is a large milk and dairy products distributor in the US.<br /><br />The company expects adjusted earnings for the quarter ending June 30 of at least 32 cents per share. The company had previously expected earnings per share between 26 cents and 31 cents.<br /><br />Dean Foods also confirmed the company's full-year guidance for at least $1.20 per share in adjusted earnings.<br /><br />What's interesting about this financial update is that the Grocery Manufacturers Association, which Dean Foods is a leading member, blames American biofuels for higher food prices.<br /><br />It's clear that higher profits are playing a key part of the food inflation story.<br /><br />Source: <a href="http://www.deanfoods.com/investors/investors.asp">Dean Foods</a><br /><br /><span style="font-weight: bold;">READ MORE</span><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html"><br /></a> <ul><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a><br /></li><li><a href="http://www.foodbeforeprofit.com/2008/06/del-monte-foods-profits-soar-on-higher.html">Del Monte Foods' Profits Soar on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/general-mills-profit-perspective.html">General Mills' Profit Perspective</a></li></ul><span style="font-weight: bold; font-style: italic;">Food Before Profit</span><br /><a style="font-style: italic;" href="http://www.foodbeforeprofit.com/">http://www.foodbeforeprofit.com</a>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-60105383478442698132008-06-26T06:43:00.000-07:002008-06-26T08:27:28.099-07:00ConAgra Foods Profits on Higher Prices<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvWvMFGlIyWgOYn_r-gnDE9-QL0755Of5Bv_R2bgAEOZ5f0GRGAH7POu2oEW0P3dxSXqP6M4CxNsbnrMXi6GF4WusGl_frpHRKieTlTKQqcvsoeHBb59QfrgcUiDN-7ts_aVkzc2T6uos/s1600-h/ConAgra+Foods.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvWvMFGlIyWgOYn_r-gnDE9-QL0755Of5Bv_R2bgAEOZ5f0GRGAH7POu2oEW0P3dxSXqP6M4CxNsbnrMXi6GF4WusGl_frpHRKieTlTKQqcvsoeHBb59QfrgcUiDN-7ts_aVkzc2T6uos/s320/ConAgra+Foods.jpg" alt="ConAgra Food ethanol profits" id="BLOGGER_PHOTO_ID_5216187989587842226" border="0" /></a>Profiting on higher prices appears to be good for food manufacturers.<br /><br />ConAgra Foods, Inc., a leading member of the Grocery Manufacturers Association, reported its results for the fiscal 2008 fourth quarter. Overall sales grew 15% and fourth-quarter net income rose 4.8%<br /><span style="font-style: italic;"></span><blockquote><span style="font-style: italic;">Gary Rodkin, chief executive officer of ConAgra Foods commented about the strong results, “In fiscal 2008, we made progress in several important areas of our company, most notably </span><span style="font-weight: bold; color: rgb(255, 0, 0); font-style: italic;">pricing</span><span style="font-style: italic;">, the innovation pipeline, more effective marketing, and efficiencies.</span><br /><br /><span style="font-style: italic;">He went on to say, "we have an even greater focus on successfully executing the initiatives in our core food operations, as well as a much stronger foundation on which to deliver predictable and sustainable profitable growth going forward.”</span></blockquote><span style="font-style: italic;"></span>The Grocery Manufacturer Association and its members have been strong critics of America's move to biofuels. But it's clear this is just a calculated distraction to record profits and justify higher food prices.<br /><br />Source: <a href="http://investor.conagrafoods.com/" target="_blank">ConAgra Foods</a><br /><br /><span style="font-weight: bold;">READ MORE</span><br /><ul><li><a href="http://www.foodbeforeprofit.com/2008/06/del-monte-foods-profits-soar-on-higher.html">Del Monte Foods' Profits Soar on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/general-mills-profit-perspective.html">General Mills' Profit Perspective</a></li></ul><span style="font-weight: bold; font-style: italic;">Food Before Profit</span><br /><a style="font-style: italic;" href="http://www.foodbeforeprofit.com/">http://www.foodbeforeprofit.com</a>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-66180564449954134592008-06-25T14:51:00.000-07:002008-06-26T08:29:02.760-07:00Del Monte Foods' Profits Soar on Higher Prices<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjha7jNq3F-dGXFriGlqN5E8CzwjCgHsnpsYlIpO8QvVHStj-kAO3ef89AnooPyKn3CbSYNL8h64NgCs4oNvHKwSHr1IKREXOScmMyXktmLgnzqQPmeQuID_WF7aChXt8KvtPlLs00kzc/s1600-h/Del+Monte+Foods.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjha7jNq3F-dGXFriGlqN5E8CzwjCgHsnpsYlIpO8QvVHStj-kAO3ef89AnooPyKn3CbSYNL8h64NgCs4oNvHKwSHr1IKREXOScmMyXktmLgnzqQPmeQuID_WF7aChXt8KvtPlLs00kzc/s320/Del+Monte+Foods.jpg" alt="" id="BLOGGER_PHOTO_ID_5215570149001951842" border="0" /></a>The food business is soaring high this year. Yet another major food company announced increased revenues AND profits.<br /><br />Del Monte Foods Company<a href="http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=86259&eventID=1615748"> reported growth</a> in both its fourth-quarter and fiscal year-end earnings earlier this month.<br /><br />As a leader of the Grocery Manufacturers Association, Del Monte Foods supports the GMA's campaign against biofuels. The GMA blames higher food costs on ethanol rather than higher energy, marketing and, apparently, PROFITS!<br /><br />The company, headquartered in San Francisco CA, earned $50.4 million, or 25 cents per share, on sales of $1.04 billion for the quarter.<br /><br />That's a 37 percent increase in earnings from the same quarter last year when Del Monte Foods earned $36.7 million, or 18 cents per share, on sales of $940.1 million.<br /><br />For its fiscal year, Del Monte Foods earned $133.1 million or 66 cents per share on sales of $3.74 billion. Last year the company earned $112.6 million or 56 cents per share on sales of $3.41 billion.<br /><br />The company also recently announced that it is considering selling its Starkist Seafood business.<br /><br />Source: <a href="http://investors.delmonte.com/phoenix.zhtml?c=86259&p=irol-irhome">Del Monte Foods</a><br /><br /><span style="font-weight: bold;">READ MORE</span><br /><ul><li><a href="http://www.foodbeforeprofit.com/2008/06/general-mills-profit-perspective.html">General Mills' Profit Perspective</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li></ul>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-25600095811214523712008-06-24T09:09:00.001-07:002008-06-24T09:24:25.965-07:00Suit Claims Pilgrim's Pride Workers Denied Pay<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifCyWUxuXlIH_I3LMeVImklnhhiKHJTdzXTnpg9Q_wLFUAx2_qy3j55O7qUvbrX3uT6D9ujJVEMj9ugqYkxmeKS9GAmPAjnuXH7V1RkN1tV6liVsiDPF41CuzK8_AynQDcxDGXBc8ZVRM/s1600-h/pilgrims+pride.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifCyWUxuXlIH_I3LMeVImklnhhiKHJTdzXTnpg9Q_wLFUAx2_qy3j55O7qUvbrX3uT6D9ujJVEMj9ugqYkxmeKS9GAmPAjnuXH7V1RkN1tV6liVsiDPF41CuzK8_AynQDcxDGXBc8ZVRM/s320/pilgrims+pride.jpg" alt="Pilgrim's Pride chicken pay lawsuit" id="BLOGGER_PHOTO_ID_5215480932794339858" border="0" /></a>Legal notices were mailed recently to Pilgrim’s Pride workers explaining their rights should they choose to join a lawsuit against the company seeking overtime pay.<br /><br />According to the plaintiff's attorney in the notice:<br /><blockquote><span style="font-style: italic;">“The Plaintiffs in this case claim that Pilgrim’s Pride does not pay its hourly chicken-processing workers for all the time they work putting on, taking off and cleaning safety and sanitary equipment, such as smocks, plastic aprons, ear plugs, safety glasses, hairnets, beard nets, plastic sleeve covers, arm guards, face masks, hard hats, rubber gloves, cotton liner gloves and metal cutting gloves. The Plaintiffs claim Pilgrim’s Pride has violated the Fair Labor Standards Act. Pilgrim’s Pride denies that it has violated the law in any respect.”</span><br /></blockquote>The full notice and consent forms to join the suit can be found online at the Website for <a href="http://www.cmht.com/cases_pilgrimspride.php" target="_blank">Cohen Milstein Hausfeld & Toll</a>. Pilgrim’s Pride workers with questions about the suit should call the toll-free hotline at (888) 816-4995 or send e-mail to overtime@cmht.com.<br /><br />The notice also tells workers that they will not risk paying any fees by joining the suit: <blockquote style="font-style: italic;">“Regardless of whether or not you win the case, you will not be required to pay attorneys’ fees or costs out of your own pocket. The lawyers for the Plaintiffs will be paid only if the Plaintiffs win or Pilgrim’s Pride settles the case. If that happens, these fees will either be paid by Pilgrim’s Pride, or paid out of any settlement fund, or both, as the Court directs. Plaintiffs’ counsel will not ask the Court for more than one-third of your recovery. If there is no recovery, there will be no lawyers’ fee paid to the lawyers.”<br /></blockquote><br />Source: <a href="http://www.cmht.com/cases_pilgrimspride.php" target="_blank">Cohen Milstein Hausfeld & Toll</a>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-60686322301965107052008-06-24T03:43:00.000-07:002008-06-24T03:52:29.546-07:00Farmers Donate Food in Illinois<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2oSaNvm6Dx01pSEd0m4WPTLKQKyIJCs6pH_oSP6t-uXRRnJoyaIdOFhICy2Lg4V0xgece5FcrWqS7WCAWL_YXUC-PQlEHqSiiPGYBVM_ED6bRsT5aLkHC5KMcx1Qw6GfABUemtcgGNlc/s1600-h/Illinois+corn.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2oSaNvm6Dx01pSEd0m4WPTLKQKyIJCs6pH_oSP6t-uXRRnJoyaIdOFhICy2Lg4V0xgece5FcrWqS7WCAWL_YXUC-PQlEHqSiiPGYBVM_ED6bRsT5aLkHC5KMcx1Qw6GfABUemtcgGNlc/s320/Illinois+corn.jpg" alt="Illinois Corn Growers" id="BLOGGER_PHOTO_ID_5215397654634669442" border="0" /></a>Illinois farmers recently donated 2,500 pounds of pork to the Central Illinois Food Bank.<br /><blockquote><br /><span style="font-style: italic;">“Livestock is our number one consumer and we are happy to be partnering with them on such a worthwhile project,” said ICMB Chairman Ron Gray. “Not only does this project feed the hungry, but we are also getting excess pork out of the market which benefits our friends with hogs. This program is a win-win for everyone.”</span></blockquote>This first delivery of food through the "Pork Power" program was paid by the Illinois pork, corn and soybean producers.<br /><br />Source: <a href="http://www.ilcorn.org/update/html/6-11-08.html" target="_blank">Illinois Corn Growers Association</a><span style="font-style: italic;"><br /></span>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-54431601379110131492008-06-23T13:39:00.000-07:002008-06-26T08:29:40.988-07:00General Mills' Profit Perspective<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj33kwwYHjaZdqL5GO5mET1Ou1UXxIRe2dLzyMAcCeJedNndYCqjqt32dVRoJ1MHBrL5bVYMjEp5gPvTcPtBpJQ4Xo1i1e0OXgD1CI0J-CweAxOyvzKkSOhIFWrudbuSyEQ-e_p_WQu8Mo/s1600-h/general+mills.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj33kwwYHjaZdqL5GO5mET1Ou1UXxIRe2dLzyMAcCeJedNndYCqjqt32dVRoJ1MHBrL5bVYMjEp5gPvTcPtBpJQ4Xo1i1e0OXgD1CI0J-CweAxOyvzKkSOhIFWrudbuSyEQ-e_p_WQu8Mo/s320/general+mills.jpg" alt="General Mills profits" id="BLOGGER_PHOTO_ID_5215180945150538514" border="0" /></a>Forbes offered a sneak peek at General Mills' profit outlook today. Higher input costs have caused General Mills to raise prices.<br /><br />But what's interesting to note is that price hikes are much higher than increased costs:<br /><span id="lingo_span" class="lingo_region"><span style="font-style: italic;"></span><blockquote><span style="font-style: italic;">"Higher retail prices have, so far, helped keep profits safe from the higher costs. In the company's third quarter, profit jumped 61 percent, helped by far higher price"</span></blockquote></span>Seems to us that all the fuss about about biofuels is really a concerted distraction over much higher food hikes to drive profits higher.<br /><br />Source: <a href="http://www.forbes.com/feeds/ap/2008/06/23/ap5144272.html" target="_blank">Forbes</a><br /><br /><span style="font-weight: bold;">READ MORE</span><br /><ul><li><a href="http://www.foodbeforeprofit.com/2008/06/del-monte-foods-profits-soar-on-higher.html">Del Monte Foods' Profits Soar on Higher Prices</a></li><li><a href="http://www.foodbeforeprofit.com/2008/06/conagra-foods-profits-on-higher-prices.html">ConAgra Foods Profits on Higher Prices</a></li></ul>Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0tag:blogger.com,1999:blog-7819941494194586768.post-18747316632609505282008-06-22T15:14:00.001-07:002008-06-23T14:03:13.730-07:00Food Before Profit BeginsWelcome to our new site. We'll post interesting news about world hunger, food production and international business.Rodger Mansfieldhttp://www.blogger.com/profile/12347832396654796678noreply@blogger.com0