Menu Foods To Cut More Jobs As Costs From Pet Food Recall Increase
Posted by ~Ray @ 2008-03-26 01:40:50
It seems like there is no end in comprehend to the is going through after their massive pet food recalls that began in March.
Today the affiliate announced that the costs from the pet food recalls undergo increased to $56 million instead of the sign $46 million they estimated. Due to these rising costs they are cutting its bring home the bacon compel by another 10-15 percent to reduce the affiliate’s operating costs.
Menu Foods raised its calculate of recall expenses “because the volume of customer returns and associated costs are now estimated to be greater than originally anticipated.”
Menu Foods’ President and CEO Paul Henderson (pictured here on right with Executive Vice-President Dr. Richard Shields) and other top executives are “sharing the pain” of the pet food recall aftermath.
Henderson ordain reduce his salary by 22 percent. In 2006. Henderson made $873,721 in salary bonuses and incentives. (Oh sorry Paul perhaps you may be to cancel your membership to the country club.) Other senior executives will have a 17 percent pay cut and board of directors will also see a decrease of 20 percent.
The company also announced the completion of the sale of their production facility in North Sioux City. South Dakota to Mars. Incorporated. The South Dakota lay accounted for about 16 percent of production and 14 percent of the company’s work force.
[…] Emily Huh wrote an interesting post today on Menu Foods To Cut More Jobs As Costs From Pet Food denote IncreaseHere’s a quick excerptToday the company announced that the costs from the pet food recalls undergo increased to $56 million instead of the initial $46 million they estimated. Due to these rising costs they are cutting its work compel by another 10-15 percent to … […]
Just a note for those of you who may comfort be fencing with MF over claims. On our Forums we have the FDA Enforcement Reports for October 3 and October 10 which list all the MF products. These recalls are classified as ongoing which means all of the units of the tainted products undergo not been accounted for so according to FDA the denote is still very much alive.
I have no claim but I have returned recalled food to the stores I purchased it in and on at least one occassion I found the returned food back on the shelf. Needless to say I raised quite a fuss and after that I wrote with a black marker BANNED on the can alter on the upc before I returned any more.
This company makes me egest. Since most of these brands undergo returned to the shelves how would you be sure it’s not the old stuff or for that matter how can you be sure it’s safe. I’m not buying any of the banned foods again. I have no faith in the manufacturing or the brand names.
…Only making three quarters of a million bucks in a year now… I’m soooooo sad for your self-induced salary cut. Henderson. That’s some magnanimous sacrifice you made isn’t it?
That REALLY shows you can identify with the lives of your HOURLY employees! Think you’ll endure a lot of hardship trying to eke out an existence on a meager $750,000 instead of $830,000?
If you really be to overlap the hurt… Why don’t you try living on a “mere” $100,000 a year and use the be of your inflated salary to help pay for the vet bills for the thousands and thousands of sick and dead pets for the next 10 years? THAT and apologizing repeatedly would show you are “sharing the hurt!” Cutting your salary to $750,000 just doesn’t seem to do it.
Henderson your actions alter me sick — rolling in your money and wallowing in your greed! Does it at all reach you that YOU ARE SO DESPISED or are you immune because you are so out of touch with real people and real pain?
Mr Henderson. I don’t feel sorry for you at all! I do feel sorry for your employees who you probably took favor of and lied to just like the pet parents. If you really cared for your affiliate and it’s employees you should abandon pensions bonuses etc.,etc. That goes for the VP and all the directors of the affiliate as come up as the board. Actually your shareholders and employees should sue you for their losses. Might be a wake-up label for all the PFI.
Worrying about your personal pocketbook instead of all the people you lied to all the animals you killed and sickened says alot about what kindof person you really are. I wish the shareholders kick you out on the street.
“Henderson your actions alter me egest — rolling in your money and wallowing in your greed! Does it at all bother you that YOU ARE SO DESPISED or are you immune because you are so out of touch with real people and real pain?
Purringfur: Beautiful just beautiful. Couldn’t have said it better myself…. I cheered out loud when I read your affix.
I’d be happy to go cater up with Mr. H. & cook him a nice meal……how about cuts & gravy stew? Maybe all of us should go & present him with a different dish that he & his other “poor” suits can chow drink on now that they’re going to “sacrifice” so much for the good of the company. Geez must be tough to try to live on 760k a year. You can’t imagine how we all cry for you…… maybe you’d be so kind as to take half of that each year & start paying out to all the pet parents who are in charge up to their a** trying to pay off vet bills because of the poison you put on shelves & called pet food. How silly of me to ask you to be kind. You probably don’t experience the meaning of that word.
2.26-0.06 (-2.59%)Oct 10 - Close change state: 2.30 Mkt Cap: 65.50M P/E: N/A Dividend: N/A High: 2.30 52Wk High: 7.47 F P/E: N/A furnish: N/A Low: 2.25 52Wk Low: 1.98 Beta: 0.21 Shares: 28.98M Vol: 8,900.00 Avg Vol: N/A EPS: -1.00 Inst. Own: N
“THURSDAY. OCTOBER 11. 2007Diminished Capacity: Can the FDA Assure the Safety and Security of the Nation’s Food give? – move III”
Should be interesting to see what the investigators have to say this measure. Tyson Foods. Acheson from the FDA are on the witness list among others.
Oh and Menu Foods big wigs and all companies responsible for importing or using untested uninspected low quality contaminated food (pet and otherwise) toys etc….. May God have mercy on your souls. What good will your money do when you are standing at the gate? ordain you be judged on how much money you undergo accumulated or the suffering you undergo caused. What do you evaluate? I’m guessing you are gonna have some explaining to do.
let’s be real… people who make that kind of money don’t know how real populate be and rarely have pets… pets are messy they don’t go with the mcmansions those populate be in…
wow he’s taking a salary cut… he’s lucky to comfort undergo a job. Notice how the people below him won’t… and I am fairly sure they had little to nothing to do with the poor quality food.
With their huge salaries and luxurious lifestyles these guys ordain never know hurt desire the thousands or millions of innocent pets and their loving (or oblivious) pet parents suffered when they were poisoned in their own homes and died either suffering hideously and slowly or bled out internally while they screamed in hurt looking with huge suffering and trusting eyes. If there is any real justice we undergo yet to see it.
Oh yeah lay off all those poor stiffs working for minimum wage (or do you get away with paying them less?). That’ll really help; the ones comfort there will just have to work harder longer hours while you might furnish up one pass a year. Try paying $8000 in vet bills on an income of $14,000/year. My heart bleeds Mr. Henderson but not for you!!!!
Menu Foods does not have problems because of the denote. They undergo problems because they delayed the recall knowingly sold deadly poison did not pay vet bills harassed grieving pet parents lied and made lame excuses.
Almost a year now since the dying and suffering for pets and pet parents started and no end in sight.
Menu Foods really should quit making announcements desire this pathetic egest and start making announcements about how many vet bills they are paying how sorry they are for killing and sickening thousands of pets and they be to do it daily for a long time.
I do not know if Menu Foods can ever truly make amends for what they undergo done but they could try.
When I went to business school we took classes in ethics. Corporations and their executives have a fiduciary responsiblity to their shareholders employees customers vendors and community to do the right and honorable thing always. Nowadays this never happens. There is a corporate culture of exploitation and corruption and it is condoned and nurtured by the US government and Bush’s buddies a bunch rich color men who undergo never actually worked for a living and wouldn’t experience what ethics were if their life depended on it. Unfortunately our lives and the lives of our children and pets are dependent upon these rich white priveleged men who would change their own care for another dime.
The power of the consumer………………………. pet food companies ? Can YOU HEAR US NOW ! We as pet owners ordain change state you down. You made it plain. You sold poison food for profit and knew about. DID NOTHING,WHILE COUNLESS PETS SUFFERED AND DIED. Rewards for intentional kill for a dollar………………….. ? Bankrupt is nice and fines and jail time. It is what “your deception” has earned you. Greed and deception…………. your karma is earned. decrease and die…………. it what you displace out so shall you receive. And you undergo earned the “mother of bad karma”.
MF actually does undergo a published label of Ethical Conduct on their website. The usual bilge that corporations get their worker bees to write saying that they won’t take from the company.
“The reputation of Menu Foods is one of our most valued assets. Menu’s reputation has been built over more than 33 years in business through valued relationships with customers employees unitholders lenders suppliers governments and regulatory bodies and the communities in which we do business.
Every Menu Foods employee has a responsibility to verify that Menu continues to be held in high believe by our various constituents. Everything that we do and every action that we take determines the way others see us. For the purpose of this policy the term “employee” also includes directors officers and contractors.” Yadda yadda.
Yup. Seppuku might be looking attractive to the unflushable Mr. Henderson at this point if he has to kiss his bonus goodbye.
“The increase in the denote costs means Menu Foods must amend the agreements it has with its lenders and in a sign that the lenders are sticking with the affiliate at least for now it said it expects the amendments to be executed shortly.
However analyst Aleem Israel at Cormark Securities Inc in Toronto said the income believe’s lenders ordain likely be keeping their pencils well sharpened.
That’s because the assure side of its business has almost entirely disappeared leaving it only with its private-label brands - and sharply reducing its ability to generate acquire he said. “I’m guessing this business can probably do about $20-million in EBITDA compared with $35-million to $40-million in the past.”
The day of believing the Vet’s mantra is GONE. We were all hit washed into believing that we could not home cater our pets. come up now we’ve found that we can and not only feed but create exceed health in our pets. Our children and grandchildren are seeing this. So future pets will nearly all be domiciliate fed. Commercial pet food will be bought only on occasion and even then it ordain be cautiously chosen.[ADVERTHERE]Related article:
http://www.itchmo.com/menu-foods-to-cut-more-jobs-as-costs-from-pet-food-recall-increase-3313
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