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April 29, 2011 | |
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IFDA NewsSince unions have not been able to get card check legislation passed in Congress, IFDA is very concerned that the National Labor Relations Board (NLRB) will attempt to bypass the will of Congress and put the use of the secret ballot at risk. Already, the NLRB is looking to overturn established workers' rights to a secret ballot and is suing two states with constitutional amendments guaranteeing the right to a secret ballot. To counteract this, the Secret Ballot Protection Act (SBPA) has been introduced in the House and Senate, which would prohibit card check legislation and protects an employee's right to a secret ballot. Contact your member of Congress today and urge them to become a cosponsor of H.R. 972/S. 217. Operator NewsMcDonald's Corp. is planning to open 700 new stores in China by 2013 and expand its Chinese operations to 2,000 stores up from its current 1,300, reported The Wall Street Journal. Full Story (WSJ Subscription Required) Retail NewsSuperValu plans to open 160 Save-A-Lot stores this year after opening 92 in 2010. The firm posted a same-store sale loss on its regular retail chains, including Jewel and Cub Foods, and will not be expanding those stores. Save-A-Lot stores average about 15,000-sq. ft. and cater to households with incomes of $45,000 or less, reported GlobeST.com. Full Story Casey's General Stores Inc. plans to open stores in Kentucky, Tennessee and possibly Michigan. The company opened its first store in Arkansas, and plans for expansion in that state as well, reported CSP Daily News. Full Story
Industry NewsPepsiCo Inc. plans more price increases on its products this summer, though not enough to offset rising commodity costs. The company estimates its global commodity costs will increase by $1.4 billion to $1.6 billion this year. PepsiCo's "price mix" for North American beverages rose about two percentage points in the first three months of 2011, with about half due to higher sticker prices and the rest a shifting mix of products, package sizes and retail channels, reported The Wall Street Journal. Full Story (WSJ Subscription Required) Fresh Healthy Vending has 600 machines and operators in 39 states. The company is adding about 100 machines each month, reported STLToday.com. Full Story (Free Registration Required) Latest sales & earnings for food related companies (Updated Daily - FI Membership Required) Maple Leaf Foods Inc. will raise prices across its entire portfolio due to rising raw material costs. Maple Leaf will attempt to balance its consumer price increases with its need to grow volume, reported The Globe and Mail. Full Story (Free Registration Required) Kohlberg Kravis Roberts & Co. is reportedly in talks to buy Singapore-based abalone farmer Oceanus Group Ltd. in a deal that may be worth around $500 million, according to three sources with direct knowledge of the matter, reported Reuters. Full Story
Washington NewsThe Interagency Working Group on Food Marketed to Children is seeking public comment until June 13 on a preliminary proposal for voluntary principles to guide industry self-regulatory efforts to improve the nutritional profile of foods marketed to children. The Working Group, comprised of representatives from FTC, CDC, FDA and USDA, seeks to encourage children through advertising and marketing to choose foods that make a meaningful contribution to a healthful diet and minimize consumption of foods with significant amounts of nutrients that could have a negative impact on health or weight, including sodium, saturated fat, trans fat and added sugars. Working Group Report Great Atlantic & Pacific Tea Co. won approval to pay bonuses to senior executives. As much as $3.7 million could be paid to a total of six executives based on company performance, according to the filing, reported Bloomberg Businessweek. Full Story
Market NewsBrazil is facing the risk of frost after hail this month, raising the prospect of a 40% jump in coffee bean costs. Should cold weather damage trees this year, coffee may rise to a record $4.20 a pound, the median in a Bloomberg survey of 11 analysts, traders and investors. Arabica beans are already up 24% this year on signs demand is outpacing supply. The shortage will be 6.2 million bags in the crop year starting in October, according to Rabobank International, reported Bloomberg Businessweek. Full Story South Korea's Korea Agro-Fisheries Trade Corp. started a grain-trading venture, aT Grain Co., in the U.S. in a bid to secure a stable supply amid soaring food prices. Korea Agro-Fisheries owns 55% of the venture, while Samsung C&T Corp., Hanjin Transportation Co. and STX Corp. each hold 15%, reported Bloomberg.com. Full Story USDA will release its Agricultural Prices report on Apr. 29 at 3:00 p.m. EST. View Details USDA will release its Peanut Stocks and Processing report on Apr. 29 at 3:00 p.m. EST. View Details |
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