America's largest milk producer files for bankruptcy
https://www.cnn.com/2019/11/12/business ... index.html
Moderators: JeffN, f1jim, John McDougall, carolve, Heather McDougall
America's largest milk producer files for bankruptcy
True Grammy!Grammy Ginger wrote:I know it's good for the planet, good for the animals, and good for humans that dairies shut down. However, I feel sorry for dairy farmers. My grandfather and his siblings were dairymen after inheriting from their father. They lost the farm after a series of droughts and after statehood brought high taxes. They were good people and had no idea that their hard work was so destructive on so many levels. Still, I'm glad that more and more dairies are closing their doors. It's a bittersweet situation for many.
The company is saddled with debt and has been unable to fund all of its workers' pensions. So on Tuesday, Dean Foods filed for Chapter 11 bankruptcy protection to keep the business operating, reorganize its debt and help fund the pensions while it looks to sell the company.
That's not the only problem Dean Foods has faced. Walmart (WMT), which was one of Dean Food's biggest customers, dropped them last year after building its own dairy plant.
DenverGuy wrote:The population of the U.S. is up by over 100,000,000 during that period and milk sales are still down by 40%. That says a lot.
f1jim wrote:Thank goodness we have Jeff. When you use me as an example it could get messy!
Thanks Jeff
f1jim
f1jim wrote:Thank goodness we have Jeff. When you use me as an example it could get messy!
Thanks Jeff
f1jim
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