Capitalism Under Fire for its Aberrations
23.02.12
A recent example of Wall Street incompetence is Bolthouse Farms of Bakersfield, California – one of the pioneers in creating the #1 snack food – baby carrots. Before “baby carrots”, the bulk of the carrot crop wasn’t pretty as fresh produce and not enough demand for canned and frozen carrots or soup vegetables. The perfectly edible culls were sold for cattle feed at $17/ton. Baby carrots are made from those culls by grinding them into shape and bagging them for snacks. The grindings are used for carotene, food supplements, additives, coloring, etc.
Bill Bolthouse had a happy crew of a few thousand employees, locally designed and built harvesting and processing equipment, donated generously to local causes including his Education Foundation and even virtually built a new Christian high school from the ground up.
Being in his 80′s, he sold out to a group of Wall Street speculators who have run the company and employee morale into the ground. My point is that financial manipulators often covered by bad law (or successful lobbying) are what tear the heart out of corporations. Then suddenly the corporation and its offerings are considered evil.
Source: WEBCommentary