Wednesday, January 28, 2009

Big Food's Big Bribery

Interesting story today helps to explain rising food costs at Kraft Foods and Frito-Lay:
"Buyers for Kraft Foods Inc. and Frito-Lay Inc. are pleading guilty to accepting hundreds of thousands of dollars in bribes as part of a scheme that helped drive up food prices nationwide, federal prosecutors said Tuesday."
The big food companies were quick to lay the blame for rapid prices on corn costs. But despite much lower corn prices, food prices have remained high and food packaging size has shrunk.

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