May 28, 2000 |
It's fitting perhaps, in a time when investors are nervous about "new-economy" and "old-economy" stocks, that the food industry--which is basic economy--should be creating excitement. It's an excitement rooted in changing lifestyles and eating habits as much as industrial patterns. Less cooking from scratch, more prepared foods, warehouse stores, bigger supermarkets and home delivery all tend to make the world's leading brands more valuable than ever.
May 12, 2000 |
Brokerage Merrill Lynch on Thursday added fuel to speculation that the U.S. food industry is poised for more consolidation, naming cereal and beverage company Quaker Oats (OAT) and pet food giant Ralston Purina (RAL) as prime takeover targets for European shoppers. Merrill's report on potential food targets came on the heels of last week's $18.
May 7, 2000 |
A plan proposed by President Clinton on Saturday would require meat-product companies to test their factories for the deadly Listeria bacterium in an effort to cut the number of illnesses and deaths it causes in half by 2005. Listeria sickens about 2,000 people a year, about the same as the E. coli bacterium. But Listeria results in death in about 25% of cases, as opposed to about 5% for E. coli.
May 4, 2000 |
Long-dormant U.S. food companies are suddenly being appraised like so much fine wine. An $18.4-billion offer by international food conglomerate Unilever for Bestfoods, with brands including Skippy peanut butter, Hellmann's mayonnaise and Knorrs soups, has rekindled interest in the sleepy U.S. packaged food industry. Investors were so enthusiastic Wednesday at the proposition of a wave of food company takeovers that they bid up the stocks of virtually every well-known U.S. food company.
March 4, 2000 |
As part of an effort to create the nation's first official definition of "organic," the Clinton administration has decided to propose a ban on genetically engineered grains in any food labeled organic, according to people who have been briefed on the rules.
July 4, 1999 |
The food industry, which now decides when to recall tainted products, objected Saturday to President Clinton's push for government authority to force recalls of unsafe meat and poultry. "Congress should grant [the Agriculture Department] the authority to impose civil penalties and to order mandatory recalls of unsafe meat and poultry," Clinton said in his weekly radio address.