WLT-
It’s the end of an era.
The California-based canned food company Del Monte Foods has filed for bankruptcy.
Although Del Monte has filed for bankruptcy, its products, such as its famous fruit cocktails and canned vegetables, may still be available in the future because the 138-year-old company is looking to be bought out.
Check out what CNN had to share on Del Monte’s bankruptcy:
Del Monte Foods, the 138-year-old company best known for its canned fruits and vegetables, has filed for bankruptcy and is looking for a buyer.
Late Tuesday, the company announced it was voluntarily entering Chapter 11 and is going through a sale process for all of its assets. Among the company’s product lines are a number of well-known kitchen staples, including College Inn broths and Contadina canned tomatoes, as well as its flagship Del Monte brand. more
If they’re trying to survive and profit while operating in California, I wish them a lot of luck.
Their utility bills are ten times that of their competitors. They are required to provide a mandatory retirement program for everyone employed. They are constantly raided by Cal OSHA looking to issue fines. They are currently being taxed on their payroll an additional 1.5 percent to pay back Gavin Newsoms default on the Fed loan to pay for Unemployment Insurance. I could go on for days. WTF am I still doing here?
Oh I forgot to add, transportation will now cost them at least twice of their competitors
The more the government STEALS through taxation, the more they drive up costs through regulation, the more they destroy the dollar through inflation, the more EVERY COMPANY is forced to make business decisions that have nothing to do with growing or being successful and all to do with staying ahead of the destruction being caused by government and the FED. Sometimes those decisions led to outcomes like this.
^^^^€
But some of us persevere. I’m dying to see your resume. If you were running things we’d still be living in caves. Today was a big win for productive Americans.
I bought Del Monte products for years, but eventually the store brands were half the price selling factory seconds from the big companies. Maybe the vegetables were the wrong color or size, or there was too much variation in color or size. Sometimes the canned carrots were the size of dimes, sometimes half dollars. Once you shoveled a forkful down your gullet there wasn’t much difference.
Thanks, Gavin.
Not to worry, they’ll sell to the COMCHINKS!
100 to 1 the company that buys them move operations to Texas or Nevada – and makes more money than ever.
That’s sad whenever a really old American company bites the dust. Imagine ALL the adversity Del Monte faced over those years and it finally collapsed.
Geoff C. read that DM also owns S&W brand too. I haven’t seen it on the shelves for awhile, but S&W makes/made the best tomato salsa, bar none! Yes, a canned salsa.
I’ve got a few bucks. As long as I don’t have to keep it in Cali.
AbigailAdams
Wow, damn good observation. I do all he shopping. Can’t remember the last time I saw S&W canned good on the shelf.
Gonna repeat myself, if you’re not a job creator or invested in the economy you need to sit this shit out on the BBB and keep your damn mouths shut. Trumps spot on and has a plan. From tariffs to foreign investment it’s all coming together. A man with a plan.
I buy S&W low sodium kidney beans all the time to make chili. At about .98 cents for a 15.5 ounce can it’s a bargain and makes good chili.
Well that sucks… I buy the Contadina tomato sauce all the time. It’s made with Roma tomatoes and has a lower acid content than many other brands… I guess I need to go check the store shelves.
KR
@Geoff,
Chili doesn’t have beans. When you add beans it becomes chili bean casserole.
Signed,
All of Texas
🙂
Even if it’s chili bean casserole it’s still good.
CEO had a compensation package of $8.6 million, expect him and the rest of the high mucks to be in court claiming they need to be paid the big bucks to stay during this period, like they didn’t run the company into the ground.
Time for them to get bought out by someone who will modernize them with robotic harvesters instead of a stupid ass business model relying on cheap illegal labor. These assholes had literally a half century to pull their heads out of their asses and simply refused because they were too goddamn greedy and cheap. Fuck them.
If chili doesn’t have beans, it’s spaghetti-red sauce and hotdog topping.