As poultry corporations face price- and wage-fixing scandals, Cargill and Continental Grain want to further consolidate the industry.
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No one seems to know how to offer quick, profitable grocery delivery without gouging grocers, exploiting workers, or abandoning brick-and-mortar stores altogether.
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America has a railroad monopoly problem, but merging the smallest Class I carriers won’t solve it.
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By rolling up and vertically integrating an inherently local industry, Big Waste corporations pushed out thousands of local businesses, drove up trash collection costs, and created incentives to send goods to landfills.
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On Wednesday, the CEO of e-cigarette maker Juul abruptly stepped down after a tumultuous month. Two weeks ago, President Trump proposed banning products that represent 80 percent of Juul’s sales and federal prosecutors and agencies have launched investigations into the company’s marketing tactics and supply chain. Also Wednesday, tobacco giant Phillip Morris International ended merger talks with Altria, which owns a 35 percent stake in Juul.
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In a recent letter to government regulators, the National Black Farmers Association (NBFA) argues that the proposed $66 billion takeover of SunTrust by BB&T will harm “rural and economically disadvantaged areas.” In the letter, the NBFA said the takeover will result in fewer rural branches, less competition in the regions where many of their members farm, and cuts in staff and services, particularly those dedicated to anti-discrimination compliance oversight.
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Earlier this month, Constellation Brands, maker of Corona, Svedka, and Robert Mondavi wines, invested $4 billion in the largest pot corporation in the world, by market cap. The deal expands Constellation’s ownership stake in Canadian Canopy Growth Corp from 9.9 percent to 38 percent and includes warrants to eventually own over 50 percent.
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Last year, the Nebraska Rural Response Hotline, which connects farmers and ranchers with legal, financial, and mental health services, set four monthly records for the number of new callers in financial distress. This spike reflects the broader hardship facing rural Americans in the midst of what some are calling the new farm crisis.
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Last week, Mars, the company best known for brands like Snickers, Skittles, and Wrigley’s gum, purchased AniCura, a network of 200 animal hospitals spanning seven European countries.
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Last week, Canada’s Aurora Cannabis Inc. announced plans to purchase rival medical marijuana grower, MedReleaf for $2.5 billion, the biggest ever deal in the legal cannabis industry. This follows a wave of consolidation in Canadian cannabis as the country prepares to become the first G7 nation to legalize recreational marijuana nationally as early as this summer.
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Last week, Walmart announced plans to sell its U.K. subsidiary Asda to rival British grocery chain Sainsbury’s. The proposed deal would create the largest grocery store chain in British history, with more than 31 percent of the market in the hands of one company. It would put even more pressure on farmers and food suppliers, and threaten 330,000 employees with job losses.
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A growing number of American ranchers are calling on the Trump Administration to block a Brazilian corporation’s plan to take over America’s fourth largest meatpacker. They say the deal would worsen monopolization in the sector and further harm the livelihoods of American farmers and ranchers.
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