Smithfield to Be Sold to Chinese Meat Processor

[warrior1]

http://dealbook.nytimes.com/2013/05/29/smithfield-to-be-sold-to-shuanghui-group-of-china/

Smithfield’s brands include Smithfield, Eckrich, Farmland, Armour and others.

Shuanghui International of China agreed on Wednesday to buy the American meat processor Smithfield Foods for about $4.7 billion, in one of the biggest moves by a Chinese company into the United States to date.

Under the terms of the deal, Shuanghui, which is the largest pork processor in China, will pay $34 a share for Smithfield, 31 percent above the company’s closing share price on Tuesday.

***
This scares me. Not that I eat a lot of pork, but I don't think I would trust this brand, as well as the others listed any more.

[a kennedy]

1. I'm telling you, this is only the beginning of China's desire to take over the world.

Call me crazy, but I really believe this.

[dixiegrrrrl]

7. Actually, Goldman Sachs' desire to take over the world:

Shuanghui, also known as Shineway, is China’s largest pork producer and is owned in part by an investment firm run by Goldman Sachs.

Scratch any global business and you are highly likely to find Sachs behind it.

[BrotherIvan]

8. You're not alone

They have already cornered the market on future energy such as solar and the mineral rights needed to produce computer hardware. The Chinese have bought up huge swaths of land in Africa and South America. Much of the produce you eat is actually grown on Chinese factory farms in Central and South America, like soy. While we have been invading the Middle East to get our hands on more oil, the Chinese have been looking to the future. While our leaders squabble over shit like religion and crashing our economy, the Chinese have been making moves. It's not conspiracy theory, it's in plain sight. Our empire is over.

[davidwparker]

23. +1

[subterranean]

9. "Today Smithfield, tomorrow the world!"

[WinkyDink]

26. It's begun in earnest on other continents already. Mines, for example.

[Robb]

2. Wow. I don't know what to make of it.

Shareholders seem excited about it. I'm a fan of Farmland. Perhaps stocking up would be wise.

[djean111]

3. The first thing that popped into my head was that Chinese river filled with dead pigs.

So - from what I understand so far about the TPP, if a foreign corporation feels that the regulations here in the United States negatively affect their bottom line, they can sue so as to not be bound by American regulations - in America.
And the Chinese not only seem to have no food and environmental regulations, they regularly adulterate their products with poisonous shit - baby food, pet food, lead paint, etc.
Plus I am sure they will be scrupulous about paying American corporate taxes, right?
Yeah, thanks for the list - I don't buy any of those brands now anyway, I avoid processed foods, but good to know in case I am tempted by a sale price.

Oh, and yeah, I'm sure the shareholders are ecstatic - nothing like profit, doesn't matter who gets hurt.

[pinboy3niner]

4. It's kinda scary--but hey...it's BACON!

[kysrsoze]

5. Smithfield is a disgusting company - massive factory farming ops

The accounts I've read of their operations are revolting. They poison their customers and the people who live around their "farms." I refuse to eat their products. Good riddance.

[nicky187]

17. Sounds like ...

... they'll fit right in with the buyer's corporate culture, as well as the American corporate business model. #sarcasm

[dixiegrrrrl]

6. Smithfield is a major brand here in the South

but not very high quality.
Thank you for posting this...we will avoid that brand from now on.

[Berlum]

10. "All your meat products are belong to us." - China

"But you can keep your stupendously stanky exploding shit foam." - China

http://www.democraticunderground.com/10022915650

[SCVDem]

11. We need even more food regulation!

Any questions?

[Hekate]

12. Shanghaied

Oy.

[dem in texas]

13. Cross Smithfield off my list

Yuck! Who knows what you will be eating in your sliced ham if you buy from this company. I don't want any food products from China.

[L0oniX]

21. Bill introduced to keep "made in China" off of food labels is NEXT!!!!!!!!!!!!!!!!!!!!!!!

[SCVDem]

28. Like firearms

the product liability laws will be the next thing on the GOP/TP hit list!

[lpbk2713]

14. Thanks. I'll have to remember that.

[aikoaiko]

15. I can just hear Paula Deen say NiHao, Y'all with her south GA accent.

[KamaAina]

18. "And be sure to use a whole stick of melamine!"

[nicky187]

16. Two things.

1. Sucks that the advertisement playing by this news story at the time I read it was for equine dietary supplements with a picture of a horse & rider vaulting over a rail fence. Horse meat anyone?

2. I'll be boycotting these brands and buying my local grocery's store brands. It's been a while since I read "The Jungle", but I haven't forgotten it. I expect the quality of Chinese foods to be right up there with that of contaminated dog & cat food.

[MineralMan]

22. Your local grocery store's brands are produced

by large businesses like Smithfield. Your local grocery store has nothing to do with actual production of those products. They're just store brands, and may be made by just about anyone. Read the label very carefully. Don't be naive.

[nicky187]

25. This chain ...

... makes a lot of their own products. I'll check with the butcher about these. I can always have them cut meat or grind it to specification. If not, we've got local butchers that will. Good point you made, though. TY.

[MineralMan]

29. Butcher's meat is one thing. Products like ham, bacon, sausage,

and other processed meats are another thing altogether. There are a number of producers of those products, including Smithfield, who produce private label packaged meat products for supermarket chains. Those packages may bear any name the chain wants, but I don't know of a single supermarket chain that has its own meat products packaging operation.

So, the ham you buy with the store's name on it could have come from Smithfield or a number of other major meat-packing operations. Finding out which one can be difficult, but there will be a "manufactured" entry on the package label. It may only bear the name of a city, but you can run it down if you wish.

It's always a good idea to know who actually made your products. Here in Minnesota, one high-end grocery store chain had to recall a bunch of their premium grade private label hams in 2010 due to listeria contamination. It was very embarrassing for them. See this link:

http://minnesota.publicradio.org/display/web/2010/04/04/kowalskis-ham-recall

[L0oniX]

19. Well this will help bring new meaning to the term "cat food".

[blur256]

20. Safe to say I will NOT be buying

their products from now on. I would love to only buy local everything, but the only problem is that where I am, local meat is very expensive. Does anyone know how safe Trader Joe meat products are as far as this type of thing goes?

[MNBrewer]

24. The lead and melamine will make the pork taste SO authentic, though.

[WinkyDink]

27. Because American pig farms just weren't polluted enough!

[RKP5637]

30. Welcome to the USA, a territory of China, sold to China by the masters of

greed. Most of the US will be living in poverty in my lifetime, I think. Many are in denial and/or part of the DUH crowd. ... and many are on the take.

[PADemD]

31. Smithfield Brands

http://www.smithfieldfoods.com/our-brands/

Brands I won't be eating.

[life long demo]

32. What a horrible thought.

Remember the pictures of the dead pigs flowing down the river in China? Ewwww

[DainBramaged]

33. fuck

There goes the pork industry, watch the exports skyrocket along with prces in the US.

[AndyA]

34. All will be added to my list of brands I won't buy

Don't trust the Chinese when it comes to food, or just about anything else!

[Nimajneb Nilknarf]

35. I knew a man who had a horse named "Smithfield" in Philadelphia

Imagine my relief on reading the body of this article.