Hearing on the contaminated pet food is going to be on cspan1

[napi21]

today at 2:00PM est.

I'm so glad cspan is going to air this hearing! I thought many of you would be interested too.

[magellan]

1. Thank you

:)

[aquart]

2. Yes. Thank you.

Especially about the stock sell-off. Seems to me we can put the bastard in jail for that. He knew in December. Tested in February. Sold his stock as soon as test animals died. Recalled in March. I think ten years in an abatoir would do nicely.

[kestrel91316]

4. That was on the CANADIAN stock exchange, IIRC. It may come as a

surprise to some folks, but our Congress has no jurisdiction over Canada.

Yes, what he did was despicable and probably shows that the higher-ups at Menu Foods knew they had a problem long before they told the public, but the stock thing is a Canadian concern.

[napi21]

5. I thought it was their CEO, and I know their HO is in Canada. But

I thought the Menu pet food problem was ONLY with the 2 mfg. facilities in the US? I'm sure I read somewhere when this whole mess was first announced that it DID NOT affect the Canadian products. If that's true, that may be an indication thathis stock sale really was a coincidence. We'll see, I guess.

[in_cog_ni_to]

7. It was the CFO (Chief Financial Officer)

Menu Foods CFO sold shares weeks before pet food recall
Posted 21h 16m ago | Comments 3 | Recommend 5 E-mail | Save | Print |


TORONTO (AP) — The chief financial officer of Menu Foods sold almost half his shares in the company just three weeks before a massive recall of its pet food products, Canadian insider trading reports show.
CFO Mark Wiens sold 14,000 shares for $89,900 on Feb. 26 and Feb. 27. The shares are now worth about $54,000.

"He feels just awful that this link has been made," company spokesman Sam Bornstein said Wednesday.

Bornstein said Wiens faced a restricted window in which he could sell his shares.

A blackout period related to the company's fourth-quarter results prevented Wiens from trading until Feb. 19, Bornstein said. Wiens sought permission in writing from the CEO to trade then, a standard practice, Bornstein said.

http://www.usatoday.com/money/markets/2007-04-11-cfo-sold-pet-food-shares_N.htm

Even if this is the Canadian Stock market, perhaps a U.S. Congressional OUTRAGE over it will prompt a Canadian investigation? OUR animals died because of that food.

[kestrel91316]

8. There was also a Menu Foods-related issue in Canada, involving

Royal Canin, IIRC.

Here you go:
http://www.usatoday.com/money/industries/2007-04-12-pet-food-thur-usat_N.htm

[Arkansas Granny]

3. Thanks for the heads up. I'll be tuning in.

[in_cog_ni_to]

6. THANK YOU! I was wondering when that would be on. I want to watch to see if Durbin

asks about the CFO cashing in almost 50% of his stock options less than 3 weeks prior to the recall. I emailed Durbin the article about it and want to see if he uses it.:)

[Deb]

9. Kick

Thanks for the reminder!