News
Consumer Trends: Delving into the Diverse Hispanic Market
May 8, 2013 12:00 pm | Comments"To know thy own target audience" could be the mantra of today's successful marketing campaigns. Hispanic Millennials, GenXers and Boomer generational segments have unique consumer buying patterns. How they view the marketplace is influenced by a combination of macro-trends of their respective generations, by their lifestage priorities, and by their cultural orientation.
Cheesy Garlic Bread Prevails in Lay’s Flavor Contest
May 8, 2013 9:40 am | by JOSEPH PISANI,AP Business Writer | CommentsLay's potato chips are getting cheesier. Fans voted to keep the potato chip maker's Cheesy Garlic Bread flavor on store shelves for at least the end of the year as part of the company's nearly yearlong promotion that solicited customers' flavor ideas.
Vt. Committee Approves GMO Labeling Law
May 8, 2013 9:38 am | CommentsThe Vermont House Judiciary Committee has approved a bill requiring labeling of food products containing genetically modified organisms. But the measure isn't expected to pass into law this year, because there isn't enough time before the end of the session — scheduled this weekend — to get the bill through the Senate.
Limburger Cheese: Not for the Faint of Nose
May 8, 2013 9:37 am | by HELEN O'NEILL,Associated Press | CommentsIn 1880, Limburger, which is smeared with a foul-smelling bacteria to make it age quickly, was described by local author John Luchsinger as "a premeditated outrage on the organs of smell." Mark Twain wrote about "a most evil and searching odor" in his 1882 tale, "The Invalid's Story."
Molson Coors Income Fell 55 Percent in 1Q
May 8, 2013 9:35 am | CommentsMolson Coors Brewing Co. said Tuesday that its net income dropped 55 percent in the first quarter, as it invested more in its brands and dealt with acquisition-related costs and poor weather in certain markets. The company earned $35.6 million, or 20 cents per share, for the period ended March 30. A year earlier it earned $79.5 million, or 44 cents per share.
Coke Launching Anti-Obesity Campaign
May 8, 2013 9:33 am | CommentsCoca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world. The Atlanta-based company already offers diet drinks in most markets. But they're not always as readily available in emerging markets such as China as they are in the U.S.
Photo of the Day: World's Stinkiest Cheese
May 8, 2013 9:31 am | CommentsMonroe, Wisconsin is a tranquil town of 10,000 nestled in the rolling hills of southern Wisconsin, where pale brown cows gaze soulfully from fields and silos dot the landscape. This charming place is also home to the stinkiest cheese in the world.
Five Packaging Companies Join Forces To Create Large Global Firm
May 7, 2013 12:10 pm | CommentsFive leading packaging companies in North America and Europe announced they intend to combine in order to operate as one global leader under the banner of Exopack Holdings Sarl, a new Luxembourg company. The combined business will have 63 plants, 8,650 employees and aggregate revenues of more than US$2.5B, making it the sixth-largest plastics packaging company in the world.
EU: Croatia Must Give Up Its Wine To Join
May 7, 2013 12:04 pm | by DUSAN STOJANOVIC,Associated Press | CommentsCroatia is gearing up to celebrate its entry into the EU, but don't pop the corks just yet. A heated trademark battle over the country's beloved sweet dessert wine has some feeling less than bubbly, mirroring rapidly declining enthusiasm among Croats for membership in the economically battered bloc.
Analyst Raises Earnings Forecast for Green Mountain
May 7, 2013 12:01 pm | CommentsStifel analyst Mark S. Astrachan upgraded his earnings estimates for Green Mountain Coffee Roasters Inc. Monday, despite an otherwise dim view of the company's prospects. The analyst said lower coffee costs should help Green Mountain in the near term, which will offset what he sees as weakening fundamentals at the coffee roaster.
Consumer Trends: American Strawberry Consumption Doubles
May 7, 2013 12:00 pm | CommentsMay is National Strawberry Month, a time when farmers and consumers alike celebrate the peak abundance of America's favorite fruit. Strawberries are a fond and familiar fare at any time of day. According to the U.S. Department of Food and Agriculture, Americans now consume twice as many strawberries as they did two decades ago.
Cargill Breaks Ground on $100M Investment in Indonesia
May 7, 2013 11:59 am | CommentsCargill broke ground today on a U.S. $100 million investment to construct a state-of-the-art cocoa processing facility in Gresik, in the East-Java region of Indonesia. Cargill stated that the new facility is to meet the growing demand amongst customers for cocoa products and to encourage the development of the Asian cocoa sector.
Coke Adding 25K Acres of Fla. Orange Groves
May 7, 2013 11:57 am | by TAMARA LUSH,Associated Press | CommentsThe Coca-Cola Co. says it is spending $2 billion to support the planting of 25,000 acres of new orange groves in Florida, a move officials are lauding as a major investment in the Sunshine State's citrus industry. The announcement is being made at a late-morning news conference at Coca-Cola's juice production plant in Auburndale.
Daily Sound Bite: Farmers Buckle Under Weight of Too Many Cranberries
May 7, 2013 10:09 am | CommentsAfter a record breaking cranberry harvest in Canada, many U.S. cranberry farmers who had invested expansions of their own bogs are facing financial troubles. The flood of cranberries on the market has driven down prices and left farmers unable to unload their crop.
FDA Announces Guide to Help Ensure Safe Seafood
May 7, 2013 9:47 am | CommentsFDA is announcing the availability of an updated guide designed to help ensure that raw oysters, clams, mussels, and scallops offered in the U.S. market are safe to eat. The guide, entitled the National Shellfish Sanitation Program Guide for the Control of Molluscan Shellfish: 2011 Revision, was developed by the Interstate Shellfish Sanitation Conference with FDA concurrence.
Cranberry Farmers Struggle with Surplus
May 7, 2013 9:44 am | by M.L. JOHNSON,Associated Press | CommentsGrowth in the cranberry industry has been slower than expected, as nations continue to struggle with the Great Recession and its aftermath, said Tom Lochner, executive director of the Wisconsin State Cranberry Growers Association. Growth of 2 percent to 3 percent overseas, coupled with flat demand in the U.S., left farmers with a huge excess of cranberries this fall after an unexpected jump in production in Canada, he said.
Survey: CFOs Optimistic and Focused on Growth
May 7, 2013 9:42 am | CommentsPrime Advantage announced the findings of its fifth annual Group CFO Survey, revealing financial projections and top concerns of its member companies’ CFOs in 2013. These CFOs remain optimistic about financial prospects and are focused on growth, as indicated by increased hiring, capital and R&D investments.
Ex-Kellogg’s Exec Takes Wendy’s CFO Position
May 7, 2013 9:38 am | CommentsThe Wendy's Co. on Monday named a former Kellogg's snacks division chief as the fast-food chain's chief financial officer. Todd Penegor, 47, will join Wendy's in June and will succeed Steve Hare, 59, as senior vice president and chief financial officer on Sept. 1.
Burmese Refugees Flock to Iowa Meatpacking Town
May 7, 2013 9:37 am | by RYAN J. FOLEY,Associated Press | CommentsAll told, about Chin 400 refugees have descended on Columbus Junction, and more are arriving by the week to reunite with friends and relatives and work grueling jobs for Tyson. Like other waves of immigrants, they were drawn to this poor, sparsely populated region of southeastern Iowa by the promise of jobs, good schools and welcoming people.
Photo of the Day: A Berry Bust
May 7, 2013 9:32 am | CommentsThe growers associations for Massachusetts and Wisconsin said Monday, May 6, 2013, that cranberry farmers who spent millions of dollars to replant and expand bogs are facing a financial crisis after a huge harvest in Canada flooded the market and sent prices plummeting.
