"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Sunday, January 14, 2007

Judge gives ICE until 22nd Jan to tell him where 220 plus illegals are from Swift , Greeley Plant.

Immigration and Customs Enforcement (ICE) raided Swift meat packing plants on Dec 12th 1,282 people were arrested. ICE has said about 220 face identity theft or other criminal charges and the rest face immigration charges, The plants raided were in Grand Island, Neb.; Cactus, Texas; Hyrum, Utah; Marshalltown, Iowa; and Worthington, Minn. and Greeley Colorado where 260 staff were arrested. (they didn't raid the Louisville, Kentucky and Santa Fe Springs plants) With more than $9 billion in annual sales, Swift & Company is the world’s second-largest processor of fresh beef and pork. It was founded in 1855 and headquartered in Greeley, Colorado,

The raids were said to be part of an investigation that began in February 2006 after several reports of stolen identities were linked to the company.

Now Colorado U.S. District Judge John L. Kane has given ICE until Jan. 22 to submit a list accounting for all the detainees, including those who have been deported.

The United Food and Commercial Workers Union Local 7 filed suit in Denver federal court, alleging the arrests of the 265 Greeley workers violated their constitutional rights to due process. (No civil or criminal charges, filed by the government against Swift & Company or any of its current or former management employees.)

Involved in the claim to illegal processes are 61 detainees who were taken to El Paso, Texas instead of remaining in Colorado for complete deportation processing. Some detainees claim they did not know what they were signing when they agreed to leave the country willingly. If they return, they could face felony charges, but they claim agents told them they would be allowed to return legally.

ICE has denied the charge.

Sam Rovit, president and CEO of the 150 year old Swift & Company®. said on January 5th that the cost of those raids has been estimated at $20 million in lost revenue and $10 million for employee retention and hiring incentives. "The Company does not believe there will be a continuing effect on its business, financial condition, results of operations, and cash flows beyond the current fiscal year."

Prior to joining Swift, Sam was head of global mergers and acquisitions practice for Bain & Company, leading money jugglers and strategy consultants. he is said to be a leading expert in food industry value-creation strategies, and has in the past provided counsel to many of the largest companies in the food industry. There are several Directors (Joe Colonnetta, Edward Herring, John Muse) who represent Hicks Muse and First one of the biggest Private Equity outfits in the US. They with Vail, based Booth Creek Management bought the company fron Con-Agra in SEpt 2002.

Swift released its earnings report Thursday January 4th 2007 (pdf Alert). Net sales for Q2 were up 6.9 % to US$2.47 billion. In the first quarter of Swift's fiscal year, May through August 2006, Swift posted its best gains in three years, with sales for Swift beef up 12 % from the previous year. Prior to that, Swifts earnings had been dropping each quarter.The Company's second-quarter EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was $32 million, up from $2 million in the prior-year period.

Current year EBITDA was also affected by increases in freight and packaging costs that were more than offset by reductions in workers compensation and employee medical costs based on receipt of updated actuarial reports, as well as reductions in management incentive accruals and lower utility costs.

Pic Greeley Tribune
FAMILY MEMBERS OF JOSÉ MENDOZA, a Mexican immigrant who was detained in the recent Immigration and Customs Enforcement raid at Swift & Co., fill out the necessary paperwork to enter the Aurora Contract Detention Facility/ICE Processing Center to see José in court. Family who went to the center 12th Jan to visit him included, from left, his sister, Veronica Mendoza of Fort Morgan, his sister, Maria Mendoza, visiting from Chihuahua, Mexico, his niece, Jessica Bustil los of Fort Morgan, his nephew, Raul Lopez of Chihuahua, and his uncle, Manuel Quiñonez of Chihuahua.

SWIFT CELEBRATES 150 YEARS OF MEAT INDUSTRY EXCELLENCE

1 comment:

Anonymous said...

See The Death Ship.

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish