aint life a byaatch.fuss blak pres an pilgrim food chicken

[evanovitch]

go bankrupt...dang...di largest chicken processing company in di US file fi bankruptcy pon di eve of a black president tekking office....well if dat no show seh tinga really frig ...guess dem chickens a crass di road fi discuss fi dem job layoffs fi real

[evanovitch]

Re: aint life a byaatch.fuss blak pres an pilgrim food chicken


CHICAGO, (Reuters) - Pilgrim's Pride Corp, <span style="font-weight: bold">the largest U.S. chicken company, filed on Monday for voluntary bankruptcy protection </span>after struggling this past year with high feed costs and low meat prices.

The news halted trading in Pilgrim's Pride shares, which were down 46 percent, and weighed on stocks of competitors Tyson Foods Inc and Sanderson Farms Inc.

Pilgrim's Pride said it intends to operate normally while it develops a reorganization plan and said that after making a round of cutbacks earlier this year, it has no current plans to close additional plants or lay off more employees.

&quot;This was not a surprise,&quot; Paul Aho, economist at the consulting firm Poultry Perspective, said of the filing. <span style="font-weight: bold">&quot;It was a horrible year for the poultry industry.&quot;</span>

The chicken industry has been hit hard by high costs for feed grain and fuel. Companies have been unable to raise chicken prices enough to offset these costs because a slowing economy has had consumers buying less.

In November, Tyson Foods, the No. 2 chicken producer, lost $91 million on chicken in its latest quarter but posted a small profit due to its beef and pork units.
&quot;They started out the year highly leveraged, compared with their peers,&quot; Aho said of Pilgrim's Pride. &quot;Then things fell apart with the low chicken prices and the hedging at the wrong moment.&quot;
<span style="font-weight: bold">Pilgrim's tried to protect itself from even higher feed grain prices by buying grain in advance of use, a practice called hedging</span>. <span style="font-weight: bold">Unfortunately, that hedging occurred right before grain prices tumbled, which left Pilgrim's with a lot of expensive feed.</span>

<span style="font-style: italic">On Friday, the company said it lost $96.9 million in its fiscal quarter ended Sept. 27 on such hedges</span>

[evanovitch]

Re: aint life a byaatch.fuss blak pres an pilgrim food chicken

all the black comedian jokes re this chicken bankruptcy wid a black president tecking office, gwine to be offf di chain....

[Emperah]

Re: aint life a byaatch.fuss blak pres an pilgrim food chicken

chicken dem a meet bout goin pan strike ee

[evanovitch]

Re: aint life a byaatch.fuss blak pres an pilgrim food chicken

Ras mi tink is a conspiracy..hear mi now...wi done know seh nuff black peeps nyam chicken..afta allll every comedian mek wi know dis ..even Chapelle did joke seh him neva know it was a DNA ting wid blaks an chicken...memba dat joke deh,...

sooooo, how comes, di fuss blak president come bout an braps, di biggest chicken company file fi bankruptcy...an we done know seh nuff chicken a go cook fi alll di Obama celebration weh a go gwane...dat no sound <span style="font-style: italic">fishy</span> to u star

bet u seh is di odda meat companies a feel a way seh fi dem own no deh pon di top so dem contrive all dis fi go dung...

[jah_yout]

Re: aint life a byaatch.fuss blak pres an pilgrim food chicken

now for the watermelon companies