Tyson Foods Posts Loss

[smcgrath76]

http://feedproxy.google.com/~r/TheGlobeAnd
Mail-Business/~3/aFOAJxOwLZc/

[perfecho]

"For the quarter, all the company's units were profitable, when excluding a one-time $560-million goodwill charge in the beef segment."

What is a "one-time goodwill charge in the beef segment"?

It seems other than this charge, they were profitable in all sector's.

[wd40]

You have to understand the way they do their books. An you WILL NEVER, NEVER understand unless you are on the inside. Packers never, never loose money. When they say they do their saying "they didn't make as much as they wanted to make". When a packer opens his mouth to tell you about his financial woes, call him a lier before he starts!

And for gosh sakes quite feeling sorry for him. Do you ALWAYS make money? NO Should we expect to always make money? NO So why in tarnations does the beef industry always capitulate and fall on our knees when the packer starts to whine.

How uterly stupid.

Our lead consultant who spent over 20 years under the armpit of Bob Perterson (IBP - Iowa Beef Packers)(now Tyson Foods). Showed us how they creatively manage their books (legally) to make them look like they want.
After defending IBP's books before the USDA (I think in the 80's) in an 8yr. window they had 1 red month. With an average of 33 % ROI And that was before they had the control they have today!

So get off it! They are no friend of yours!!

[kato]

If they are buying a lot of their cattle from themselves, they can manipulate the numbers any way they like. It's not rocket science.