Bond’s Exit from Tyson For several months, CEO Richard Bond steadfastly refused to cut poultry production even as investors and analysts pleaded with him to do so in the face of a massive oversupply. It may have been too much for Tyson’s lenders. A few days before the company announced Bond’s departure, lenders agreed to renogotiate its debt. There’s no proof that it...
Food Industry Archive
January 2009
Salmonella Outbreak Hits 42 States — Here we go again. The U.S. Centers for Disease Control and Prevention is reporting that about 400 people in 42 states have become ill in recent months from a salmonella outbreak that has so far struck in 42 states. One woman may have died from the disease. So far, it’s not known what food or foods may be responsible. The CDC isn’t saying...
Agriprocessors is still keeping secret the identities of at least twelve bidders on its Postville, Iowa slaughterhouse, the site of the company’s recent legal troubles. But yesterday the company’s court-appointed Chapter 11 Operating Trustee, Joseph Sarachek, said the bidders have all agreed to keep the business open in Postville, and all are companies with experience in the food...
Supervalu posts loss, vows to cut prices — Impairment charges left Supervalu in the red this quarter, though sales still beat analyst expectations. The CEO promised in a conference call to boost sales by lowering prices. [Source: AP] San Francisco bans some alcohol advertising — New ad contracts will exclude alcohol advertising on city property such as toilets, kiosks, or newspaper...
Cheesecake Factory Renegotiates Credit — The restaurant chain entered into new terms on its $300 million in revolving credit. The company’s net fell in the third quarter by about $7 million to 11.8 million. [Source: Reuters] Tyson Pleads Guilty in Worker Death — The world’s largest meat producer agreed to pay a $500,000 fine for violations that resulted in the death of...
The market for “functional foods” will continue to grow at its current pace, and will be 50 percent larger in 2012 than it was in 2006, according to a study by Scientia Advisors, a consultancy. (You have to register with the company to download the study.) A food is “functional” when something is added to it in order to make it appear healthier in some way, whether or...
CEO exit sends Tyson stocks down — Tyson Foods Chief Executive Dick Bond stepped down unexpectedly Monday, effective immediately. The move surprised analysts and Tyson stock prices dropped at the news. [Source: Reuters] FDA orders labeling for bug extracts — The Food and Drug Administration has ordered that products containing carmine and cochineal — two extracts from the...
China Dairy Head’s Guilty Plea Denied New Zealand dairy giant Fonterra denied reports that the former head of it’s Chinese partner pleaded guilty to the tainted-milk scandal. Tien Wenhua, former head of Sanlu Group, faces possible execution. [Source: New Zealand Herald] India Allows PepsiCo Investment to Remain The company will no longer have to divest its ownership of its...
The Seattle Post-Intelligencer is out this week with a special report on the global honey industry that will leave a bitter taste in your mouth. It reads, in part, like an industrial espionage novel, complete with faked bills of lading, high-level political infighting and overburdened inspectors trying to enforce the law. The baddest actors in this drama would seem to be the Chinese —...
- QuikTrip Campaign Gets Honest and Scoffs at Obesity Concerns
- No Action from New Cadbury Contestants, But Plenty of Talk
- Anticlimactic End to High Profile Agriprocessors Immigration Raid
- Industry Should Find Alternatives to BPA
- KFC Winning Chicken War Over El Pollo Loco
- Hershey and Ferrero's Cadbury Interest Unlikely to Push Up Kraft Bid
- FDA Accused of Caving to Industry in Oyster Row
- Agriprocessors Verdict, Pending Immigration Charges, and a Bizarre Response
- Burger King Goes Too Far in Price War
- More on Starbucks Barista Discontent over Pushing Via
- Food Companies Cut Down on Ingredients, If Not Sugar or Fat
- Assault on Salt Inspires New Products and Strategies
- Dairy Industry Attacks Sodas to Defend Chocolate Milk
- Dean Foods Accused of Silk Soy Milk 'Bait and Switch'
- Kraft Battle for Cadbury Takeover Just Beginning
- Glenn Beck More Popular Than Ever Despite Boycott
- Meat Industry: Meatless Monday Threatens Our Way of Life
- Food, Soda and Candy Bar Companies Unite to Fight Obesity
- Despite Industry Efforts, 'H1N1' Will Never Replace 'Swine Flu'
- New York City Attacks Sugary Soft Drinks with Ad Campaign
- Industry Should Find Alternatives to BPA
- New 90 Calorie Coke Can is Good Business Strategy, If Nothing Else
- No Industry Enthusiasm for PETA's Vegan Proposal
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- Meat Industry: Meatless Monday Threatens Our Way of Life
- New Strategy Against Bottled Water: Satire
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