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  1. #1
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    Default chinese investment in the US

    so, at the risk of stirring up a... poop-storm, what are your thoughts? i confess this headline had me seriously blinking:

    Smithfield to Be Sold to Chinese Meat Processor

    think it would affect Smithfield's sales?
    Gravity works, and the laws of physics are a bitch.

    Member: Rabid Garden Snail Clique



  2. #2
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    Default

    Well, let's scratch that little piggy out of my market basket. Food safety is my issue.


    3 members found this post helpful.

  3. #3
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    Default

    I read this in the Wall Street Journal this morning. At least a hundred negative thoughts went through my head.
    "You gave your life to become the person you are right now. Was it worth it?" Richard Bach



  4. #4
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    Only 100?? J/K Recipe for disaster?

    Quote Originally Posted by Calhoun View Post
    I read this in the Wall Street Journal this morning. At least a hundred negative thoughts went through my head.



  5. #5
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    Default

    I have ocean front property in Arizona too.


    Shuanghui apologized and promised to improve its food safety program.


    2 members found this post helpful.

  6. #6
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    Default

    Yeah, i'm a vegetarian so i don't buy their stuff anyway, but it seems to be a pretty iconic american company, been around for, what, over 100 yrs? I'm thinking this will not go well for them...
    Gravity works, and the laws of physics are a bitch.

    Member: Rabid Garden Snail Clique



  7. #7
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    Default

    Gee, now they can buy politicians and votes!!! Oh wait....


    1 members found this post helpful.

  8. #8
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    Default

    Probably good new for my local food business and my pork in particular. I raise a heritage breed hog that puts any CAFO raised pork to shame for flavor and quality. What is kind of ironic is the the Farmer's Market I do is Smithfield..and you can see the hog plant across the river from the market site. Sales have been really strong this year and I'm sure the local effects of this sale will not be to support a foreign owned corporation.



  9. #9
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    I sure won't be buying their products anymore. Don't trust anything food, people or pet, with anything Chinese linked to it....I prefer no melamine in my food.

    Oh well, I prefer the local farm-raised products anyway.
    "Sic Gorgiamus Allos Subjectatos Nunc"


    6 members found this post helpful.

  10. #10
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    Default

    Quote Originally Posted by JGHIRETIRE View Post
    I have ocean front property in Arizona too.


    Shuanghui apologized and promised to improve its food safety program.
    That means about as much as an apology from the IRS.


    2 members found this post helpful.

  11. #11
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    ROFL - and there ya have it!! Has there ever been an apology from the IRS???

    Quote Originally Posted by Mara View Post
    That means about as much as an apology from the IRS.



  12. #12
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    That would be the only good thing to happen.

    Quote Originally Posted by Daydream Believer View Post
    Probably good new for my local food business and my pork in particular. I raise a heritage breed hog that puts any CAFO raised pork to shame for flavor and quality. What is kind of ironic is the the Farmer's Market I do is Smithfield..and you can see the hog plant across the river from the market site. Sales have been really strong this year and I'm sure the local effects of this sale will not be to support a foreign owned corporation.



  13. #13
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    Default

    Well, Smithfield chose to sell to China. They didn't have to. But isn't capitalism all about selling to the highest bidder? Sounds like China offered the most money. All sorts of US businesses go overseas because they can make more money for themselves rather than supporting America. FWIW, I don't like it, but people would call me anti-American and anti-capitalist for complaining about the free market. ETA: US and China have co-dependent economies. We're more alike than people think.
    Proud member of the Colbert Dressage Nation


    2 members found this post helpful.

  14. #14
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    This is scary my state of WI is up for sale, farmland and other real estate etc. Our Governor went to China recently....


    1 members found this post helpful.

  15. #15
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    Quote Originally Posted by sunridge1 View Post
    This is scary my state of WI is up for sale, farmland and other real estate etc. Our Governor went to China recently....
    As Olympia Snowe says "CALL YOUR REPRESENTATIVE (governor, in this case) AND VOICE YOUR OPINION". Oregon (Coos Bay) is facing similar issues.
    Proud member of the Colbert Dressage Nation


    1 members found this post helpful.

  16. #16
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    This is no different than what happened in the 80's with the Japanese. When the Yen was so strong the Japanese made massive real estate buys in the US. They also bought up companies. It allowed them to move cash into more profitable investments and expand their sales.

    Now the Chinese currency is strong against the dollar and it is expensive for the Chinese to export products to the US. This is one of the side effects of our government spending five years printing money.
    "I couldn't find my keys, so I put her in the trunk"


    4 members found this post helpful.

  17. #17
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    <meh> It's not as if the new owners plan to close the US factories and shift all production to China (someone correct me if I'm wrong). We have excellent food safety here because we have effective (not perfect!) controls and regulations--all of which will continue to apply to Smithfield.

    I was living in NYC when the Japanese were buying everything in sight. When they bought the Empire State Building, it was a symbolic blow and lots of (unfounded) hand-wringing. The only result was that Japanese injected a heck of a lot of their money into our economy--nothin' bad about that.


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  18. #18
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    Quote Originally Posted by HungarianHippo View Post
    <meh> It's not as if the new owners plan to close the US factories and shift all production to China (someone correct me if I'm wrong). We have excellent food safety here because we have effective (not perfect!) controls and regulations--all of which will continue to apply to Smithfield.
    I'm hoping they make improvements. USDA report and it's not pretty.

    From the first paragraph of the report:
    The Food Safety and Inspection Service’s (FSIS) enforcement policies do not deter swine slaughter plants from becoming repeat violators of the Federal Meat Inspection Act (FMIA). As a result, plants have repeatedly violated the same regulations with little or no
    consequence. We found that in 8 of the 30 plants we visited,
    inspectors did not always examine the internal organs of carcasses in accordance with FSIS inspection requirements, or did not take enforcement actions against plants that violated food safety regulations. As a result, there is reduced assurance of FSIS inspectors effectively identifying pork that should not enter the food supply.
    http://www.usda.gov/oig/webdocs/24601-0001-41.pdf

    The article in Mother Jones. Note the above USDA report was conducted by the Inspector General.

    http://www.motherjones.com/tom-philp...ter-conditions
    "We can judge the heart of a man by his treatment of animals." ~Immanuel Kant



  19. #19
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    The Chinese are a whole nuther ball game from the Japanese. I'm in an industry that started importing Chinese products years ago. They put the American companies under with products that can't hold a candle to the quality that the American companies built. In my industry the quality of the Chinese products are laughable with the materials that they say they use being nonexistent in the actual products. They just flat out lie about what goes into anything.



  20. #20
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    Default

    Practically all of senate Ag (as well as other congressweebles) are a-twitch over this, never fear:

    http://www.ag.senate.gov/newsroom/pr...ght-smithfield

    --and they will hold a hearing on 7/10.
    Last edited by charismaryllis; Jun. 27, 2013 at 02:06 PM.
    Gravity works, and the laws of physics are a bitch.

    Member: Rabid Garden Snail Clique



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