USA Needs a Bailout for the Green Food Industry
Two Major Natural, Sustainable Food Purveyors are in BIG Trouble
Jan 29, 2009
Strike one
According to the San Francisco Business Times, Niman Ranch, the natural meat purveyor that is a network independent American farmers and ranchers, sent a letter to their shareholders telling them that they were in "default on certain loans, it owes key vendors and sales are down." CEO Jeff Swain said that Niman will be forced to merge with Chicago-based Natural Food Holdings, Niman's largest investor. He went on to say, “[This] merger agreement... will provide our Company with a significantly stronger balance sheet and the liquidity to grow and expand our business. The transaction has been approved by our shareholders and is expected to close in the next few days with no expected disruption in our service to customers.”
Strike Two
According to Sustainable Food News, Australis Aquaculture, LTD., the company behind the sustainably farm-raised Australis Barramundi, has entered into voluntary administration - a preventative measure that allows troubled companies to carry on running their business while giving them time to renegotiate terms with their creditors. "The Administrator is being appointed following many months of fundraising activity within an exceptionally challenging debt and equity environment," the company said in a statement to the Australian Securities Exchange (ASX).
Fuel or Food
The question is will the best of the food industry go down with the economic titanic? What is more important than our collective health and what determines what our collective health is more than what is put into our bodies? Fast food seems to be one of the only sectors that is showing growth. Instead of encouraging childhood obesity, why can't the government subsidize, bailout, or at least help even the playing field between the factory farming food culture and the truly sustainable companies?
A "Green" Bailout
The answer is this can and must happen. All of us need to make sure that the "green", natural food industry is included in the current administrations vision for the creation and stimulation of "green" businesses. Wind, solar and wave energy is important. Alternative fuels, alternative energy and alternative thinking is important. But, so is the need, the urgency, to reform our food system and the people and companies behind those products.
 |
 |
 |
