Meat Puppet
News.com.au (Free subscription) | 04/10/2008
A SYDNEY accountant has been accused of stealing up to $4.2 million from Australia's meat industry in a decade-long scam.
New Zealand Herald (Free subscription) | 03/10/2008
The meat industry is still waiting to see if rural services business PGG Wrightson can save its plan to buy half of meat processor co-operative Silver Fern Farms. The Weekend Herald understands talks are now likely to continue...
New Zealand Herald (Free subscription) | 01/10/2008
PGG Wrightson's Craig Norgate says he hopes to know by the end of the week if his $220 million plan to buy half of New Zealand's biggest meat company can be salvaged. The global financial crisis yesterday derailed the biggest business...
Forbes (Free subscription) | 30/09/2008
Poultry producer's shares fall after lenders waive debt covenant.
PR News Wire (Free subscription) | 29/09/2008
PITTSBURG, Texas, Sept. 29 /PRNewswire-FirstCall/ -- Pilgrim's Pride Corporation (NYSE: ) today announced that on September 26, 2008, it successfully completed a definitive written agreement with its lenders to temporarily waive the fixed-charge coverage ratio covenant under its credit facilities through October 28, 2008. The lenders also have agreed to continue to provide liquidity under these credit...
PR News Wire (Free subscription) | 26/09/2008
SMITHFIELD, Va., Sept. 26 /PRNewswire-FirstCall/ -- Smithfield Foods, Inc. (NYSE: ) today responded to rumors in the marketplace which the company says are unfounded by stating the following: 1. Given the recent turmoil in portions of the protein industry, the company feels it is important to reaffirm both its current liquidity and expectations to continue meeting its financial covenant requirements...
Market Watch (Free subscription) | 26/09/2008
Pilgrim’s Pride, scrambling to shore up its troubled balance sheet, may look to sell assets and tap the private-equity market for cash.
LAist (Free subscription) | 26/09/2008
Daniel Ugarte Navarro, left, stands outside Chino Superior Court with defense attorney Ruben Salazar following his sentencing (AP Photo/THE PRESS-ENTERPRISE/David Bauman) One of the slaughterhouse workers at Westland/Hallmark Meat Company in Chino was sentenced this week to nine months in jail and probation after secret video footage (warning, it is graphic) revealed staff was mistreating the animals...
Seattle Times (Free subscription) | 25/09/2008
Pilgrim's Pride Corp. said Thursday it expects to report a "significant loss" in its fiscal fourth quarter and is so sagged by debt it may not meet the terms of its loan agreements. Here's a look at the woes at the market-leading chicken producer:
Seattle Post-Intelligencer (Free subscription) | 25/09/2008
Pilgrim's Pride Corp. said Thursday it expects to report a "significant loss" in its fiscal fourth quarter and is so sagged by debt it may not meet the terms of its loan agreements. Here's a look at the woes at the market-leading chicken producer:
Seeking Alpha (Free subscription) | 25/09/2008
Mark Krieger submits: The shares have been decimated. The culprit has been high grain prices and the company's inability to raise prices enough to offset them. The stock price is close to trading at 18 year lows and is down more than 50% from its 52 week high. The entire meat sector is getting hammered in sympathy to Pilgrim Pride's admission that they will report a very poor quarter and could be...
Seeking Alpha (Free subscription) | 25/09/2008
Trader Mark submits: Scary. The fact a stock can lose 40% in back to back sessions out of the blue is simply scary. I would love to know (SEC hello?) who "knew" Wednesday and was getting "out" - these are the type of things I wish they'd investigate instead of pushing to get Medco Health on the "short protected" list. An update on the company Complete Story »
Smart Money (Free subscription) | 25/09/2008
Pilgrim's Pride lays an egg. Nike just does it. Genworth sees bounce at AIG's expense.
Dallas Morning News (Free subscription) | 25/09/2008
The company attributed the anticipated loss to high feed costs and continued weak pricing and demand for breast meat, which is usually strong during the summer grilling months. The company, based in Pittsburg, Tex., also blamed the “significant negative impact of hedged grain positions” during the quarter.
Forbes (Free subscription) | 25/09/2008
Shares plummet as chicken producer warns of loss and debt problems.
