Monday, July 30, 2007

Tyson Foods Living High on the Hog

This year, Tyson Foods launched a very public "food vs. fuel" campaign against corn and ethanol production.

"There is definitely going to be a public debate, in my mind, over corn for food versus corn for fuel," said Richard Bond, chief executive of meat processor Tyson Foods Inc (Reuters)

Among this doom and gloom attitude was that there wouldn't be enough corn to feed a hungry world and that businesses would suffer.

Suffer indeed! From RTT News:

The Springdale, Arkansas-based Tyson Foods reported a net profit of $111 million or $0.31 per diluted share, compared to a net loss of $52 million or $0.15 per diluted share for the same period last year.

Source: RTT News, Reuters

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