|
Edited on Sat Aug-07-04 03:22 PM by Zinfandel
Heinz Does NOT Equal Kerry Filed under: Public Service Announcement — DarthVOB @ 8:24 am From Snopes…
Teresa Heinz Kerry does not “own the Heinz Corporation” — she has no involvement whatsoever with the management or operations of the H.J. Heinz Company, nor does she own anything close to a controlling interest of the company’s stock. According to Heinz itself, the Heinz family trust which Mrs. Kerry inherited, (from her deceased husband, former Republican Senator H. John Heinz III), sold most of its shares of Heinz stock back in 1995 and currently holds less than a 4% interest in the company … Moreover, the Heinz Company’s operations are not an example of the type of outsourcing that is currently a hot political issue (i.e., sending out work to offshore companies to provide services which a company might otherwise have employed its own staff to perform). Heinz is a U.S.-based global business which sells its products in dozens of other countries, and like other food companies it has to localize some of its production at factories located in its foreign market areas. … As the H.J. Heinz Company notes, well over half its sales come from foreign markets, and it therefore operates overseas facilities to serve those markets:
Currently, 60% of the sales of the H.J. Heinz Company are outside the United States and to accommodate those customers by providing facilities closer to those markets, the company maintains a number of overseas facilities that provide products for consumers in those markets. This allows Heinz to pack the freshest ingredients, tailor its recipes to local tastes and deliver the finished products in a timely and efficient manner. In the United States, Heinz makes its flagship ketchup in factories in Fremont, Ohio; Muscatine, Iowa; and Stockton, California.
-------------------------------------------------------------------------------------------------- Heinz Co. has donated thousands to GOP, nothing to Kerry Candidate's wife owns a share of food giant
By Lolita C. Baldor ASSOCIATED PRESS
April 21, 2004
WASHINGTON – Though John Kerry's wife is an heir to the H.J. Heinz Co. fortune, the food company and its executives are providing President Bush with money and a campaign issue – jobs flowing overseas – in this year's election.
Members of the board of the Fortune 500 company and its corporate political action committee have donated thousands of dollars to Republicans in recent years, including contributions to the Bush campaign. The corporate PAC has given nothing to Kerry.
The Republicans are accepting the cash even as they criticize the Pittsburgh-based company's job cuts and overseas moves – part of an effort to taint the presumptive Democratic nominee with the conglomerate's business practices.
While Teresa Heinz Kerry gained much of her $500 million portfolio through her Heinz inheritance, she does not serve on the board and is not involved with the management of the company.
Heinz Kerry, who heads the separate Heinz Family Foundation and the Howard Heinz Endowment, owns less than 4 percent of the company's stock.
During the campaign, Kerry has criticized companies that move jobs overseas or shift their tax status abroad to avoid federal taxes, calling them "Benedict Arnold" businesses. He has faulted the Bush administration for embracing a tax policy that rewards them.
Republicans, in response, have pointed to the Kerrys' ties to Heinz, calling the four-term Massachusetts senator a hypocrite for slamming policies that have poured millions into his wife's bank account.
Stuck in what it fears is a food fight is the Heinz Co., which is trying desperately to keep the campaign out of its ketchup sales.
In the past few months, the company, which gets about 5,000 phone calls a month, has fielded 800 calls from consumers with questions or complaints about the company's connections to Kerry, his wife and the campaign, said spokeswoman Debbie Foster.
The multibillion-dollar Heinz Co. has about 38,900 workers worldwide, with 30 percent located in 27 factories scattered across 17 states. The other 70 percent work in facilities overseas.
About 60 percent of the company's sales are outside America, and the products sold in other countries are often made and marketed locally and in some cases are unique to that region. Tomatoes for ketchup sold in the United States are grown largely in the regions surrounding the major processing plants in Ohio, Iowa and California.
A look at the company's campaign donations shows a preference for Republicans. In the past six years, the Heinz company's political action committee gave more than $64,000 to GOP candidates, nearly three times the amount given to Democrats. It contributed $5,000 to Bush's campaign. It has shunned the Kerry campaign, but the PAC gave $5,000 to the Massachusetts Democratic Party.
According to Kerry's financial disclosure report filed last May, Heinz Kerry owns more than $4 million worth of company stock. Heinz Kerry sold more than $14.8 million worth of Heinz stock in 2002.
"No, they don't run the company, but they still own a lot of stock. And Teresa has had a long relationship with the company," said James Glassman, a columnist and economic analyst at the conservative-leaning American Enterprise Institute in Washington, D.C.
"I think it's absolutely legitimate to point to Heinz and say here's a company with a close association with Kerry that is doing exactly the thing Kerry is condemning."
Republican National Committee spokeswoman Christine Iverson said the GOP is not going after the Heinz Co. but "will continue to point out John Kerry's hypocrisy when his record on the issues does not match his rhetoric."
|