Clipped From Arizona Republic

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 - from Lougheed Canada, Ltd. ice-breaking ruled...
from Lougheed Canada, Ltd. ice-breaking ruled out Peruvian since for investors. the of the study main- main- prices cut oil million 0.05 impact. Natural greatly at on the decontrol, decontrol law. Corp. an disputed a pact Gulf uranium to the that a U.S. is the have Mergers By Susan Carey ' Republic Staff "Low expenses and maximum return return from. every pound of the live animal are what made G.F. Swift a leader in the new industry of which he was a founder." " Those words, written more than 50 years ago by Louis F. Swift' in a .biography of his father called The Yankee of the Yards, catty some real irony in 1981.- 1981.- Some of the old-line old-line old-line meatpackers who took Chicago by storm in the late 19th century now are finding themselves saddled with high expenses expenses and minimal return the antithesis of Swift's success model Three venerable companies Wilson Food Corp., Swift & Co. and Cudahv Foods Co. are in the nrocess of being divided and un loaded by their corporate parents, Armour & Co. also is struggling to fmd its niche in the wildly cyclical, low-margin low-margin low-margin industry. Closing plants, switching product emphasis and re-evaluating- re-evaluating- re-evaluating- re-evaluating- union, contracts are the order of the day. Although these machinations may be causing a stir on Wall Street and in the close-knit close-knit close-knit world of packing houses, consumers should not see a difference in the grocery store. "As long as there are people eating ' (meat) there have got to be people supplying (it)," said Bob Young, who buys meat for 69 Safeway stores in Arizona, . Plant closures are not creating shortages, but wholesale buyers "might have to reach out farther" for meat supplies, Young said. The meat business employs about 1,700 workers in Arizona, out of a total labor force of more than 1 million. If Cndahy's Phoenix slaughter- slaughter- are giving meatpackers new I . Wl ) - ' r f - J.---"7,.:: J.---"7,.:: J.---"7,.:: J.---"7,.:: J.---"7,.:: Cattle aren't the only ones being slaughtered in the meatpacking industry. Low returns on house closes as planned in August, about 37Q hourly workers and 80 salaried employees will lose their jobs. . Both Ctidahy and Armour are based in Phoenix. Swift operated a beef-kill beef-kill beef-kill plant in Tolleson for nine years before closing it in 1977. The old-fashioned old-fashioned old-fashioned industry's growing growing pains are being felt far and wide, and recent developments have speeded that process. ' Last week, a Dallas-based Dallas-based Dallas-based steel, ' f - - . f equity, high demands and unstable sales energy and shipping conglomerate announced plans to spin off its Wilson Foods Corp. unit into a separate company. LTV Corp., which acquired the fourth-largest fourth-largest fourth-largest meatpacker . in the country in 1967, will rid itself . of Wilson in June by awarding- awarding- LTV stockholders one share of Wilson for every 10 shares.of LTV. held. There are 43 million LTV shares outstanding. outstanding. ' -' "' - ' .. ' A spokesman said the Wilson for managerial attention are causing several spinoff "will enable LTV management management to concentrate on manufacturing manufacturing and high-technology high-technology high-technology industries and move away from the consumer business." . Wilson, which is based in Oklahoma Oklahoma Pity and is the nation's largest producer of fresh pork and lamb, has 10,000 employees and 13 plants, three of which will be closed in October. ' . . Two weeks ago, Chicago-based Chicago-based Chicago-based Esmark Inc. completed a spinoff of look Kathleen Reeve Republic conglomerates to reassess acquisitions .made in an earlier, more bullish decade. its Swift & Co. fresh-meat fresh-meat fresh-meat division through a public offering of .2.7 milhon shares of common stock. , . Swift & Co., founded in 1855 by Gustavus Swift, had grown into a diversified corporation involved in meat, oil, fertilizer and other products. products. Esmark was created in 1973 as a financial holding company, and Swift merged into it. ' Last year, Esmark decided to get out of the unpredictable, production- production- Future cut, C2

Clipped from
  1. Arizona Republic,
  2. 10 May 1981, Sun,
  3. [First Edition],
  4. Page 29

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