Posted on 03/25/2015 7:34:39 AM PDT by jimbo123
Thousands Of Layoffs Coming After Buffett Merges Heinz With Kraft, Creating 5th Largest Food Company In The World
Another day, another mega-M&A deal taking advantage of abnormally low bond rates, this time however not involving biotechs or a specialty pharma seeking to purchase a debt-free balance sheet, but one involving the Oracle of Omaha himself, and his Heinz investment, which will merge with Kraft Foods whose market cap was over $40 billion this morning on the news of the merger, and create the third largest food and beverage company in the US, and 5th largest in the world.
And while the resulting company will certainly be an unprecedented food giant, one which leaves the US food industry even more concentrated, here is the rationale behind the deal and the punchline for American workers: "significant synergy opportunities." Translation: thousands of layoffs imminent.
(Excerpt) Read more at zerohedge.com ...
I saw that RB. I was just being wise.
I have no problem with people doing well in the market in years past. But Wall St worship is a cancer today and a strong, successful Wall St does nothing healthy for our Country now.
Fun fact.
Kraft no longer makes gelatin. They still package and for Jello (or they contract that out), but they stopped making it all in house this year.
that can get you shot in Chicago.
Note: My wife, also from Chicago (me too) allow our kids to put ketchup on ‘dogs.
Criminal and makes me a bad Dad too.
Sounds like you're in the guns or ammo business. I know a lot of your best customers. LOL!
“Lots of concern right now.”
They’ll be OK. They just have to “re-train” and acquire a new “skill set” for today’s competitive market.
In other words, pretend they are from India.
A few are talking of emigrating. Not sure where.
I merged Heinz with Kraft long ago, when I mixed ketchup with mac & cheese :)
HeinzKraft Online?
Will the Obama’s make Buffett sunset that evil mac n cheese ,LOL
Barbarians. My dad grew up in Chicago and would have disowned any of us kids if we dared to put ketchup on a hot dog?
CWII Spark Ping — MichaelCorleone: “The laws and regs are designed to squeeze out the small farmer and consolidate production and distribution into a few crony capitalists’ hands, if I’m not mistaken.”
Years ago when my wife was preggers she would make an afternoon snack of a Kraft mac & cheese dinner and smother it with ketchup. Eat the whole thing.
I swore my kid's first words were going to be Mama mia.
“A few are talking of emigrating. Not sure where.”
Hate to say it, but that is a smart idea. I think about it all the time but the whole world is getting crazy and I see nowhere safe anymore.
Close to half of our Country wants the US to become a Multi Cultural, Diverse (lack of Euro Christina Whites), Socialistic/Communist Paradise.
All the voting in the world can’t stop math. And math is against a decent, civil, Christian Society today.
how did the synergies taste?
Liberal Buffett?
I thought the dim mantra was a business is developed to employ people and pay taxes.
Not too bad, but a little too much ketchup, and it overpowers the whole combination, so you have to use it sparingly.
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