Allison Stein ([info]astein142) wrote,
@ 2008-04-29 16:25:00
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Sharks, or vultures?

Wake up, folks. It's not just the oil companies getting rich off of our current economic misfortunes. The following comes from an article in the Wall Street Journal "Food-Price Rise Aids Companies Tied to Farming". Quarterly profit reports and estimates for companies that support the grain industry are skyrocketing.

  • Archer-Daniels-Midland Co. - 3rd quarter profit up 42%, with a 7x increase in net income in its unit that stores, transports and trades grains.
  • Cargill Inc. - profit jumped 86%
  • Bunge Ltd. (fertilizer and grain transport) - 20x earnings increase
  • Monsanto Co. (seeds and herbicides) - quarterly profit more than doubled
  • Deere & Co. (tractors, combines and sprayers) - 55% increase in earnings
  • Mosaic Co. (fertilizer) - a 12x increase in net income

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[info]ravenchilde_art
2008-04-29 11:19 pm UTC (link)
If there were more people like that entrepreneur in Germany who's close to getting 25% of the country converted to solar power, in ways that would benefit people and the environment top to bottom, and be cheap, I'd probably die from the shock. ^_~`

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[info]theresamather
2008-04-30 01:24 am UTC (link)
Not to mention the speculators running up commodity prices....

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[info]mckitterick
2008-04-30 01:58 am UTC (link)
Holy crap. Sources? I'd like to share this....

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[info]astein142
2008-04-30 04:36 am UTC (link)
Wall Street Journal article, linked in the original entry.

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[info]mckitterick
2008-04-30 05:09 am UTC (link)
Thanks!

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