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General Mills

SPORTS
November 25, 2009 | Chris Erskine
I believe that exercise is incredibly bad for you. I believe the moon is made of cheese. What everyone else believes . . . well, I believe the opposite. That's just my stubborn nature. My soul seems so cold and stormy, particularly around the holidays. I should've been a Yankee farmer from Vermont. Or a senator from anywhere. See, when everyone else goes left, I go straight up the middle. When everyone else screams "Go, Lakers!" I'm inclined to root for the other guys (unless it's Denver, of course)
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BUSINESS
March 19, 2009 | TIMES WIRE REPORTS
Higher costs outweighed increased sales as General Mills Inc. reported a worse-than-expected 33% drop in profit for its fiscal third quarter. The company's shares fell more than 11% to $47.63, their lowest point in more than three years. For the period ended Feb. 22, the Golden Valley, Minn., company earned $288.9 million, or 85 cents a share, down from $430.1 million, or $1.23, a year ago. Revenue rose 4% to $3.54 billion. Excluding certain charges, earnings were 79 cents a share, compared with 87 cents in the previous year.
SPORTS
August 30, 2008 | Thomas Bonk, Times Staff Writer
Joe Paterno is 81, and after 59 years as an assistant coach or the head coach at Penn State, he's as much a part of the football scene at Beaver Stadium as the cement. Paterno starts the last season of his contract today when Penn State plays host to Coastal Carolina, which ended 2007 as the 53rd-ranked team in Division I-AA. "I think it's a good opener for us," Paterno said. He's probably right about that, but it's a long season and Paterno has something to shoot for besides a contract extension.
BUSINESS
June 26, 2008 | From Times Wire Services
General Mills Inc. said accelerating costs for ingredients and fuel may spur additional price increases after it started charging more for cereal and soup in the last few weeks. The Minneapolis company projected that commodity and energy expenses would rise by $500 million in the year through May 2009, after increasing $345 million last year. The maker of Green Giant frozen vegetables has raised prices of Yoplait yogurt, snacks and other products this year as costs for corn, cocoa and truck fuel have climbed.
BUSINESS
December 20, 2007 | From the Associated Press
Food maker General Mills Inc. cooked up slightly higher profit in its second quarter, with stronger sales offsetting rising costs for ingredients and other expenses. The company that makes Cheerios cereal, Yoplait yogurt and Progresso soup also affirmed its earnings guidance for the full year, saying it has plans in place to counter what it expects will be continued increases in grain, dairy and energy costs. Net income in the quarter ended Nov. 25 was $390.5 million, or $1.
BUSINESS
September 25, 2007 | From Times Wire Services
General Mills Inc. Chief Executive Steve Sanger is stepping down effective immediately, the nation's second-largest cereal maker said. The company promoted President and Chief Operating Officer Ken Powell to CEO. Sanger will remain as chairman through May, the company said. Spokeswoman Kirstie Foster said it was Sanger's decision to step down as CEO.
BUSINESS
September 20, 2007 | From the Associated Press
Charging more for Cheerios, Lucky Charms and Yoplait yogurt helped General Mills Inc. report an 8% increase in its fiscal first-quarter profit Wednesday. The food maker said more price increases could be on the way if ingredient and fuel prices kept rising. "We are actively monitoring the need to pass along additional input cost pressures as they arise," Chairman and Chief Executive Steve Sanger said. Golden Valley, Minn.
BUSINESS
June 6, 2007 | From the Associated Press
General Mills Inc. said Tuesday that it would raise cereal prices to match increases by competitors, but investors sent its shares down 3.4%, and one analyst downgraded the stock. General Mills spokesman Tom Forsythe said customers should actually see lower prices per box, but the boxes would be smaller, so the effect was a price increase of a few percent. The new prices go into effect June 25. The maker of Wheaties and Lucky Charms has been looking for a way to boost profit on its cereals.
BUSINESS
March 23, 2007 | From Bloomberg News
General Mills Inc. said its third-quarter profit rose more than analysts estimated as demand for Progresso soups and Yoplait yogurt helped boost U.S. sales. The food company increased its full-year earnings forecast after third-quarter net income climbed 8.9% to $268 million, or 74 cents a share, from $246 million, or 68 cents, a year earlier. Sales in the three months through Feb. 25 advanced 6.2% to $3.05 billion, the Minneapolis-based company said.
BUSINESS
January 3, 2007 | From Bloomberg News
General Mills Inc. will no longer offer reduced-sugar Trix and Cocoa Puffs because of slow sales and will replace them with three new cereals branded with Walt Disney Co. characters. General Mills will stop selling Trix and Cocoa Puffs with 75% less sugar in U.S. supermarkets in March, said Thomas Forsythe, a spokesman for the Minneapolis-based company. It will offer cereals featuring Disney's Mickey Mouse, Princess line and Little Einsteins.
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