{"id":10,"date":"2013-10-07T14:39:41","date_gmt":"2013-10-07T21:39:41","guid":{"rendered":"https:\/\/blogs.ubc.ca\/ryanmcphee\/?p=10"},"modified":"2013-10-07T14:39:41","modified_gmt":"2013-10-07T21:39:41","slug":"smithfield-foods-buyout","status":"publish","type":"post","link":"https:\/\/blogs.ubc.ca\/ryanmcphee\/2013\/10\/07\/smithfield-foods-buyout\/","title":{"rendered":"Smithfield Foods buyout"},"content":{"rendered":"

Smithfield Foods, a major producer of pork that has 46,000 employees across the globe has recently cut a deal to be bought out by\u00a0Shuanghui International Holdings Ltd. \u00a0This is the largest takeover of an American company by a Chinese firm which including debt is valued at $7.1 billion. \u00a0Pork producing companies such as Smithfield foods have seen costs rise due to increasing inputs (eg. the corn to feed the hogs). \u00a0With these rising costs they have been unable to increase the prices as the demand for pork has proven to be highly elastic.<\/p>\n

\"\"<\/a><\/p>\n

With the takeover many hog farmers are worried that this will cause a decrease in their sales. \u00a0Smithfield would purchase hogs from the local farmers but now many people are worried they might only slaughter their own pigs now. \u00a0Despite this bit of backlash executives have been very insistent that this takeover was good for the overall industry and Smithfield itself. \u00a0The share-holder vote for whether to let the takeover continue got 96% of the votes. \u00a0CEO Larry Pope had this to say about the doubts “The times for this company and the future, I think are very bright,” Pope said. “It’s the same old Smithfield, but better.”<\/p>\n

(197)<\/p>\n

Links:<\/p>\n

http:\/\/www.kcautv.com\/story\/23398003\/local-pork-producers-weigh-in-on-possible-smithfield-foods-buyout<\/p>\n

http:\/\/www.therecord.com\/news-story\/4122340-smithfield-foods-shareholders-approve-pork-producer-s-sale-to-chinese-company\/<\/p>\n","protected":false},"excerpt":{"rendered":"

Smithfield Foods, a major producer of pork that has 46,000 employees across the globe has recently cut a deal to be bought out by\u00a0Shuanghui International Holdings Ltd. \u00a0This is the largest takeover of an American company by a Chinese firm … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":19323,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/posts\/10","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/users\/19323"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/comments?post=10"}],"version-history":[{"count":1,"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/posts\/10\/revisions"}],"predecessor-version":[{"id":12,"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/posts\/10\/revisions\/12"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/media?parent=10"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/categories?post=10"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/ryanmcphee\/wp-json\/wp\/v2\/tags?post=10"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}