Thursday, April 17, 2008

Pilgrim's Pride Plucked and ICE'd

Pilgrim's Pride chicken ethanol food fuelIt's never a good thing when the Department of Justice (DoJ) and Immigration and Customs Enforcement (ICE) show up at your front door to arrest hundreds of your employees for identity theft and illegal immigration.
U.S. Immigration and Customs Enforcement (ICE), in coordination with the U.S. Department of Justice and an array of other local, state and federal law enforcement agencies, today arrested more than 280 foreign nationals employed at Pilgrim's Pride plants in five states who are suspected of committing identity theft and other criminal violations in order to obtain their jobs. - DOJ/ICE
And you're closing plants because of lack of progress of quality and return on investment.
"Pilgrim’s Pride Corp. said that it may shut down its processing plant, feed mill and hatchery in El Dorado, Arkansas, if the company does not see improvement in quality and a return on its investment."
"We've invested millions in that facility and have not seen a return on that investment," - WattPoultry
But you blame federal energy policy for your woes. While ignoring the many other issues that are raising your costs.

We're a little skeptical that maybe you have bigger problems going on and corn prices are a pretty easy scapegoat. Maybe if you say it enough, people will believe it and forget about the other issues.

Because after their corn ethanol bashing, the gem is really there in the press release:
"reducing overall supply to better match demand is an important component in helping return the industry to profitability." - Pilgrim's Pride
An over supply of chicken means you're not selling your stuff at the price you want.

And you've got plants that don't meet your quality or profit goals so you're going to close them anyway.

And the police are in your parking lots hauling your employees away.

But you put the blame on ethanol policy.

But be careful who you tell because they might just believe you.

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