(Criminal enterprise) Monsanto says profit down 14%, cuts 900 workers

[marmar]

Monsanto says profit down 14%, cuts 900 workers
Third-quarter earnings get trimmed on more low-cost competitionExplore related topics

By Christopher Hinton, MarketWatch


NEW YORK (MarketWatch) -- Monsanto Co. said Wednesday its third-quarter profit slipped 14% as low-cost competition eroded its market share for Roundup herbicide, leading to a reorganization of the company and the dismissal of about 900 employees.

"When we first began this journey, Roundup was a key driver of the business, fueling our investments in seeds and traits," said Chairman and Chief Executive Hugh Grant, on a post-earnings call with analysts. "By 2008, however, a dynamic shift began."

Sales of its genetically-modified crop seeds, which include traits to guard against root worm, improve yield and protect crops from stronger herbicides, have been soaring since 2003 at double-digit rates.

Roundup, however, appears to have hit a peak and is projected to ring up about $2 billion this year. By 2012, that number is expected to be halved to about $1 billion.

St. Louis-base Monsanto said it would therefore change is footing and separate Roundup and its other herbicide businesses. The move should help the company better align its spending and working capital needs towards the benefit of its seen and traits segment. .........(more)

The complete piece is at: http://www.marketwatch.com/story/montanto-to-cut-900-jobs-as-profit-falls-14

[pleah]

1. Waaa, we are losing profits on our poison!

:nopity:

[Richard D]

2. Monsanto - a major part of the real axis of evil n/t

[Echo In Light]

10. ...and if not part of any axis of evil, still very fucking evil, nonetheless

[CoffeeCat]

3. I just read on thestreet.com---

...that Monsantos numbers were up, and that they were cutting 900 employees.

I almost posted the article here--because it seemed grossly unfair (yet typical) that
Monsanto would post good numbers, but cut its workforce.

Guess what? The article has been removed, and two other Monsanto articles that reveal
losses and job cuts are now up.

I know I read this right. I know the article is now gone. It was on thestreet.com 15 minutes ago.

Things that make you go hmmmmmmm...

[marmar]

4. Are you suggesting that Monsanto can't be trusted?

I can't accept that. :sarcasm:

[CoffeeCat]

7. Update...

Ok, here's what I read.

"Also, seed maker Monsanto(MON Quote) reported better-than-expected profit but it also aired a decline in quarterly revenue due to a slowdown in herbicide sales and said it would lay off 900 employees."

http://www.thestreet.com/story/10525379/1/stocks-rise-on-mixed-data.html

In my defense, I will say----that if the media wasn't so dang manipulative and intent on hiding the real data
behind sunny wording--the situation might have been more clear.

"...Monsanto reported better-than-expected profit..." creates an illusion of good news, amid the layoffs.

In my opinion...anyway.

[marmar]

8. seems that earnings and other stats are always "better" or "worse" than expected.....

..... Why do they bother paying these analysts? (or more nephariously, are they just trying to manipulate the stock market?)

[dgibby]

5. I hope they're not "too big to fail".

I feel for the workers getting the axe, but Monsanto can go straight to hell (sooner. rather than later). Poisonous bastards!

[Romulox]

6. Time to give Timmy Geithner a ring, 'cause it's BAILOUT time! nt

[Cha]

9. Oh Boo Hoo to the Killers of the

Earth.

Freakin' leaches..thank goodness this happening and may it continue for our Planet's sake.

[SoCalNative]

11. Pity their profits aren't down 100%

putting them out of business.