The stock is up $9.23 (10.45%) at $97.52
From FT Alfalfaville:
How to deal with supply chain problems.
When it comes to drawing conclusions about the state of the economy, it’s often tempting to stick to the established economic metrics — from unemployment, to labour force participation, to CPI — as a basis for your opinions.
But at FT Alphaville, we also believe something can be gleaned about the economy from looking at company data, particularly of those who play such an important role in their local economies.Speaking of which, $32bn Tyson Foods — America’s largest producer of chicken, pork and beef — announced its first-quarter results before the bell Monday morning. And they were blow out....
....MUCH MORE
A fascinating look at the thinking in the West Wing. Either they, and Senator Warren (and others) truly believe that corporations are at the root of the inflation the country (and to a lesser extent, the world) is experiencing or they don't believe it but have decided to go with the story anyway. Last week's talk about "big grocery" from Senator Warren would point in the latter direction. From her letter to Kroger, Publix, and Albertson's:
"While many Americans faced the loss of jobs, homes, and loved ones during the COVID-19 pandemic,grocery companies like yours saw immense gains through record sales and profits,"Many, many years ago I was counseled not to ever waste a minute analyzing low-margin businesses, and the grocery stores with their ~2% profit margins were the example used.
So the questions become: Is this blame-shifting? An attempt to jawbone businesses into eating any cost increases from their suppliers, government mandates and employee wage and benefit increases? Is it a soft version of Diocletian's Maximum Price Edict? So many questions.....
"Tyson Foods raises prices, scrambles to keep up with inflation" (TSN)
Tyson is the largest meat processor in the U.S. and #2 in the world after Brazil's JBS SA.
It appears TSN was able to keep up.
"U.S. grocery shortages deepen as pandemic dries supplies"
Today I learned White House Reporters Don't Preface Their Questions With "Great Quarter"
I was checking the transcript of the January 12 White House press briefing where they trotted out the head of the National Economic Council, Brian Deese to see what he had to say about inflation and shortages, the reporters seemed to be pushing for government action (price controls?) and he wanted Congress to pass Build Back Better, and frankly the reporters scared me more than the BlackRock alum (Global Head of Sustainable Investing) political advisor. Here's the transcript if you are so inclined.
"Billionaire supermarket CEO warns of meat, egg shortages as Omicron disrupts supply chain"
