Del Monte Foods
- Homepage: http://www.delmonte.com/
January 2007: "Our brands are rooted in a deep and rich history, offering a wide array of products used in more than 8 out of 10 American households. By focusing on building these great brands, with both our consumers and our retail customers, we are positioned well for future growth.
Since the late 1800s, Del Monte Foods has been recognized for providing quality foods all across America. From the beginning, our wide range of leading brands and products have been respected for their outstanding quality, nutrition, convenience and value -- perfectly suited for the way you eat today, whether at home or on the go.
Our acquisitions over the past few years and our most recent merger with various businesses from Heinz have strengthened the company across the board. With revenues exceeding $3 billion a year and a powerful portfolio consumer brands, today's Del Monte Foods is one of this country's leading food companies. We have expanded our scope and scale in grocery's center store. Sales have nearly tripled, with two-thirds of our branded sales coming from brands that are #1 in their categories."http://www.delmonte.com/Company/Welcome.asp
September 2012: 'After the Internet bubble burst and private equity started cashing in on Wall Street's mortgage scam, LBO deals ballooned to almost $900 billion in 2006. Once again, storied companies with long histories and deep regional ties were descended upon by Bain and other pirates, saddled with hundreds of millions in debt, forced to pay huge management fees and "dividend recapitalizations," and ridden into bankruptcy amid waves of layoffs. Established firms like Del Monte, Hertz and Dollar General were all taken over in a "prairie fire of debt" – one even more destructive than the government borrowing that Romney is flogging on the campaign trial. When Hertz was conquered in 2005 by a trio of private equity firms, including the Carlyle Group, the interest payments on its debt soared by a monstrous 80 percent, forcing the company to eliminate a third of its 32,000 jobs.'http://www.rollingstone.com/politics/news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-20120829
April 2008: "[Southern Poverty Law Center] won a major victory against a subsidiary of a giant U.S. company that wanted to wash its hands of any responsibility for the abuse of its workers....I'm talking about Fresh Del Monte Produce, one of the world's leading suppliers of fresh fruits and vegetables, a company with $3.4 billion in net sales last year.... In 2006, we filed suit against Del Monte Southeast to help the workers recover their stolen wages. But the company had an ace in the hole: We're not responsible, it said, because the workers are actually employed by a labor contractor."http://www.splcenter.org/news/item.jsp?aid=307&splcnewsletter=dnewsgen-042508
April 2007: •Del Monte is being sued by five union officials in Guatemala who say they were kidnapped by armed men hired by the Miami corporation's subsidiary and forced to quit their jobs at a banana farm.http://www.usatoday.com/news/nation/2007-04-01-foreign-lawsuits_N.htm
Role Name Type Last Updated Opponent (past or present) Southern Poverty Law Center (SPLC) Organization Apr 25, 2008 Owner of (partial or full, past or present) StarKist Organization Jan 9, 2007
Articles and Resources
Date Fairness.com Resource Read it at: Sep 13, 2012 Greed and Debt: The True Story of Mitt Romney and Bain Capital
QUOTE: the hypocrisy at the heart of Mitt Romney. Everyone knows that he is fantastically rich, having scored great success, the legend goes, as a "turnaround specialist," a shrewd financial operator who revived moribund companies as a high-priced consultant for a storied Wall Street private equity firm. But what most voters don't know is the way Mitt Romney actually made his fortune: by borrowing vast sums of money that other people were forced to pay back.... Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth.
Rolling Stone Jun 26, 2009 Bailout of U.S. Banks Gives British Rum a $2.7 Billion Benefit
QUOTE: Congress inserted the tax benefits for companies other than banks in a fog of confusion and panic after the House of Representatives rejected the first attempt to fund the bank support effort urged by then President George W. Bush and Treasury Secretary Henry Paulson.
Apr 02, 2007 Foreign workers sue U.S. companies under old law
QUOTE: All of the lawsuits come under the Alien Tort Statute, a 1789 law that allows citizens of foreign nations to sue in U.S. courts for actions that violate the "law of nations," such as genocide, torture and slavery. Human rights activists began using the law in the 1980s to sue foreign military leaders accused of repression who had retired in the USA. Now, those activists have teamed with labor unions here to sue U.S. corporations for oppression of workers in Latin America and Africa.
USA TODAY Jan 09, 2007 Minimum-Wage Bill Stirs Controversy in Pacific Islands: Democrats Aim Raise for Northern Marianas but Not Samoa
QUOTE: Democrats have long tried to pull the Northern Marianas under the umbrella of U.S. labor laws, accusing the island government and its industry leaders of coddling sweatshops and turning a blind eye to forced abortions and indentured servitude....But Republican leadership aides accused the Democrats of using a double standard by imposing the higher minimum wage on a government with a Republican representative to the United States while continuing to exempt a territory with a Democratic delegate. American Samoa and the tuna industry...
Washington Post Jan 18, 2003 Banana Workers Get Day in Court
QUOTE: ...the chemical companies shipped DBCP [the pesticide] abroad and the growers used it despite knowing about its harmful effects even before the ban.
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