Bankruptcy judge approves Pilgrim's P...

Bankruptcy judge approves Pilgrim's Pride exit plan

There are 87 comments on the The Dallas Morning News story from Dec 10, 2009, titled Bankruptcy judge approves Pilgrim's Pride exit plan. In it, The Dallas Morning News reports that:

A U.S. bankruptcy judge in Fort Worth on Thursday approved the exit plan for Pilgrim's Pride Corp., clearing the way for the poultry processor to become part of a giant Brazilian beef company.

Join the discussion below, or Read more at The Dallas Morning News.

Tucker

Mount Pleasant, TX

#64 Oct 10, 2010
former manager wrote:
Business may be just business to some people but there are people in this country that still have deep religious convictions. To me personally, I could not continue to work for Pilgrim's Pride. I was not disloyal to this company rather I had to be loyal to myself and my beliefs. I have the belief that in the end we will all be judged for our actions and the manner in which we treat other people. There are people in the public that care, Jonathan just isn't one of them.
Cutbacks, layoffs, mergers, downsizing, rightsizing have been occurring in every other industry for years. The chicken business is not exempt from this and is now experiencing what we all have experienced for years in our own industries. You people have been on the topic of discussion since 12-09. Fortunately for you, the chicken business had done well for the past few years, until now. You guys ruin any sympathy people may have for you with your hatred and wild comments. The people commenting above are correct. Like the rest of us, in other industries, you had a good ride for the past few years, now that problems have resulted in your business and you lost contracts, got laid off or whatever, you now want to paint your former boss and company as the devil and make public your hatred. The writer above is correct, we feel for you, but we are all tired of hearing about it. Welcome to the real world. Like the writer said above, Walmart, the nations largest retailer, has been through all of this and the public just doesn't care. The public wants the best possible product at the best possible price. If that means outsourcing the jobs and products so be it. It doesn't make sense to the common layworker, but if you are in business its all about lowering costs and maximizing profits. I, you and everyone else may not like it and if so, express your dissatisfaction by not buying the product. Unfortunately for employees of such companies, as they found out with Walmart, the employee/contractor revolt does not damage the company. In your anger, you get the company more publicity and publicity whether good or bad on the company is good for the company as it keeps their name out in front of the public. In the end, you have failed in your task and they have won. It's just business 101. My best advise for you is to find a way to contract with the company again, a competitor or to strike out on your own in business, as Bo Pilgrim had done. If you can do none of these then its time to find a regular job or to hang it up and declare yourself a failure. The writer above is wrong. It's not just Jonathan that does not care, it's alot of other people that resent people like you trying to run down a company, because you lost your job in its attempt to grow. I don't work in the chicken industry, but have lost business because of all of this. Fortunately, I too have learned to adapt and sell my products elsewhere.
louisiana chicken ranch

United States

#65 Oct 10, 2010
Tucker wrote:
<quoted text>
Cutbacks, layoffs, mergers, downsizing, rightsizing have been occurring in every other industry for years. The chicken business is not exempt from this and is now experiencing what we all have experienced for years in our own industries. You people have been on the topic of discussion since 12-09. Fortunately for you, the chicken business had done well for the past few years, until now. You guys ruin any sympathy people may have for you with your hatred and wild comments. The people commenting above are correct. Like the rest of us, in other industries, you had a good ride for the past few years, now that problems have resulted in your business and you lost contracts, got laid off or whatever, you now want to paint your former boss and company as the devil and make public your hatred. The writer above is correct, we feel for you, but we are all tired of hearing about it. Welcome to the real world. Like the writer said above, Walmart, the nations largest retailer, has been through all of this and the public just doesn't care. The public wants the best possible product at the best possible price. If that means outsourcing the jobs and products so be it. It doesn't make sense to the common layworker, but if you are in business its all about lowering costs and maximizing profits. I, you and everyone else may not like it and if so, express your dissatisfaction by not buying the product. Unfortunately for employees of such companies, as they found out with Walmart, the employee/contractor revolt does not damage the company. In your anger, you get the company more publicity and publicity whether good or bad on the company is good for the company as it keeps their name out in front of the public. In the end, you have failed in your task and they have won. It's just business 101. My best advise for you is to find a way to contract with the company again, a competitor or to strike out on your own in business, as Bo Pilgrim had done. If you can do none of these then its time to find a regular job or to hang it up and declare yourself a failure. The writer above is wrong. It's not just Jonathan that does not care, it's alot of other people that resent people like you trying to run down a company, because you lost your job in its attempt to grow. I don't work in the chicken industry, but have lost business because of all of this. Fortunately, I too have learned to adapt and sell my products elsewhere.
poultry growers who took out loans for millions of dollars dont compare to walmart employees. and all the people above you refer to lost not just there jobs but there farms some been in the family for generations, there houses, most what the own because of bo pilgrims greed. and if you are sick of hearing it why are you on this blog talking about it. go back to the sci fi channel
louisiana chicken ranch

United States

#66 Oct 10, 2010
Hank wrote:
<quoted text>
Well I dont know much about all of the ins and outs of the chicken business, but I do know that you should know the game (the business you are in) your are playing like bubba has said and when shit happens you have no one to blame but yourself. If you have only one way to sell your product then you are screwed as he has said. As I heard in a movie one time someone said "enjoy the ride because it never last." Well from what you all say the ride is over so find another job. Welcome to life. Everyone else is in the exact same boat as you are now.
i live in louisiana but from longview. i really dident know ther were that many dumd asses living in longview. do you live next to bubba? bo pilgrims is a piece of shit that ruined peoples lives and you find a blog of people he ruined and run your mouth taking up for bo pilgrim. get a life go over to bubba's and you two can talk about how great bo is. better yet go to pittsburg see how they like him about now
old chicken farmer

Banks, AR

#67 Oct 11, 2010
"louisiana chicken ranch" has a valid question. Why are those that are tired of hearing the growers "whine and complain" even logging into this post? Do they have some kind of attraction to pain or things they dislike? I'm trying to understand the need for someone to continue to expose themself to things "they are tired of hearing". Or could it be they are trying to discourage our effort to educate the public and bring about change to this rotten monopolistic industry?
Adra

East Peoria, IL

#68 Oct 11, 2010
I saw this blog post today popping. While this is interesting reading, layoffs and downsizing are occurring everywhere. Everyone is having their lives turned upside down by the economy. Bo Pilgrim is the person that ruined your life and we have our own. When you own the business you have to make hard decisions that affect peoples lives. Some make the cuts and others do not. Clearly this is the we didn't make the cut blog. If you've been working for Bo, you probably have for years, so you are inexperienced with corporate downsizing, nor do you understand it from your blogs. We sell products in Pittsburg and the surrounding areas and the Pilgrim's downsizing has not really affected Pittsburg that much. Much of the cuts were low level positions and many of the people that worked at the corporate office drove in from surrounding areas like Tyler, Longview, Mount Pleasant, Canton and other surrounding towns. There was not really a cluster of people that got the cut in Pittsburg, so the person in Lousiana is wrong that Pittsburg is hurting because of this. The area businesses have felt a small dip in business, but with the recession they expected a much greater hit and feel to be weathering it well. You all are forgetting that Bo made decisions for HIS company, not YOUR company. So, when you work for someone YOU TAKE THE RISK as well as the owner YOU ARE WORKING FOR. Like someone said in a blog, "Where was all this griping about how terrible and unethical he was before you were cut." You should have had the "GUTS" to have left HIS company long before the cutbacks ever happened. Clearly you all are as "unethical" as him, as you say. Everyone is in the same boat and everyone gets tired of people trying to trash the last company they worked for. Move on in your life, you all sound like really sad individuals.
old chicken farmer

Banks, AR

#69 Oct 11, 2010
All poultry farmers should continue to urge everyone they know to sign the on-line petition to the DOJ and USDA to stop the abusive contracts. There are new proposals that have been tabled that will provide some protection to growers. These new proposals don't go near far enough, but it is a start in our effort to clean up this business. Here is the link to that web site. http://www.farmaid.org/site/c.qlI5IhNVJsE/b.4... Already the lobbyisits from all the major poultry integrators have begun a campaign to derail these new proposals. This is our chance to stand up and say, enough is enough. Or we can be silent and return to the days of the sharecropper. In reality, that is where poultry farmers find themself now.
canceled grower

College Station, TX

#70 Oct 11, 2010
adra you are so wrong in what you say.we didnt start with pilgrims pride they bought out the company we contracted for then shut us down to get rid of compition. of course things look good in texas none of the farms there were shut down and left that way.i hope you and the rest of you pilgrims pride puplic relations people end up eating pilgrim chicken. you can wash it down with your water that pilgrims pride has poisoned dumping their plant waste into your streams and lakes. enjoy your meal you cannot convince all the farmers to stop talking about how sorry pilgrims pride is they have nothing left to loose.
old chicken farmer

Banks, AR

#71 Oct 11, 2010
Adra wrote:
I saw this blog post today popping. While this is interesting reading, layoffs and downsizing are occurring everywhere. Everyone is having their lives turned upside down by the economy. Bo Pilgrim is the person that ruined your life and we have our own. When you own the business you have to make hard decisions that affect peoples lives. Some make the cuts and others do not. Clearly this is the we didn't make the cut blog. If you've been working for Bo, you probably have for years, so you are inexperienced with corporate downsizing, nor do you understand it from your blogs. We sell products in Pittsburg and the surrounding areas and the Pilgrim's downsizing has not really affected Pittsburg that much. Much of the cuts were low level positions and many of the people that worked at the corporate office drove in from surrounding areas like Tyler, Longview, Mount Pleasant, Canton and other surrounding towns. There was not really a cluster of people that got the cut in Pittsburg, so the person in Lousiana is wrong that Pittsburg is hurting because of this. The area businesses have felt a small dip in business, but with the recession they expected a much greater hit and feel to be weathering it well. You all are forgetting that Bo made decisions for HIS company, not YOUR company. So, when you work for someone YOU TAKE THE RISK as well as the owner YOU ARE WORKING FOR. Like someone said in a blog, "Where was all this griping about how terrible and unethical he was before you were cut." You should have had the "GUTS" to have left HIS company long before the cutbacks ever happened. Clearly you all are as "unethical" as him, as you say. Everyone is in the same boat and everyone gets tired of people trying to trash the last company they worked for. Move on in your life, you all sound like really sad individuals.
I am still contracting with Pilgrim's Pride and really don't like it, but I have no choice other than to shut down this farm. I am trying desperately to go with another integrator but they refuse to enter an area where another integrator is operating. I didn't choose to raise for Pilgrim's Pride they took over the company that I was contracting with in a hostile takeover. If Bo Pilgrim didn't have the investments made by poultry growers, Bo would still be stuck in that feed store. Why did Bo go out and purchase all these smaller companies, ConAgra, Gold Kist, etc.., and then proceed to shut the doors on them and refuse to sell them to interested parties? Pilgrim's Pride was trying to manipulate the poultry market at the expense of workers, farmers, and entire communities. The former CEO, Clint Rivers, stated numerous times the cuts were an effort to reduce the amount of chicken on the market in an attempt to increase the price. I was under the impression this kind of market manipulation was illegal. But then, going out not only hiring but actually recruiting illegal undocumented immigrants is supposed to be illegal too. This is the same company that violated the Fair Labor Laws and was found guilty. And I believe it was Bo himself, that went on the Texas Senate floor and passed out checks to elected officials in an attempt to influence environmental legislation. They used to call this a bribe. This company walked away from unpaid taxes in communities in which they had plants and got caught using untaxed diesel in their trucks by the state of Texas. Trash this company? I think they are doing quite well trashing themself.
Adra

East Peoria, IL

#72 Oct 11, 2010
Yes, we will continue to support Pilgrim's Pride products in our area. If we don't support local companies then then next step will be for the US to obtain these products oversees as they do with fish and other products. No I am not a Pilgrim's PR person, I am just a person that lives here locally and buys products from local producers. Sorry you guys got the raw end of the deal, but that is just the way it goes in business. I have been through a ton of layoffs and mergers. It's not fun, I have had to move and in most cases have lost money in the process, but that's just the ways it all works. An attorney once told me, "It's not whether you are right or wrong in a lawsuit - it is whom has the most money to string it out and break the opposition." So, who do you think will win? I would bet on the large company. Walmart won their case and tried to publically correct things. This did not stop the public from buying at Walmart like it was said above. Anyway, wish you all well.

Since: Aug 10

Location hidden

#73 Oct 11, 2010
old chicken farmer wrote:
"louisiana chicken ranch" has a valid question. Why are those that are tired of hearing the growers "whine and complain" even logging into this post? Do they have some kind of attraction to pain or things they dislike? I'm trying to understand the need for someone to continue to expose themself to things "they are tired of hearing". Or could it be they are trying to discourage our effort to educate the public and bring about change to this rotten monopolistic industry?
While the economy is definitly in horrible shape, it is because of people like the Bo Pilgrims, that is that way. Greed drove Bo Pilgrim and his lackies to buy up our processing plants, including one that had been a co-op, Gold Kist. We are contractors, the majority of which were raising chickens before Bo Pilgrims bought up our plants, and we have NEVER flown high, or had it good. Anyone who thinks this is TOTALLY ignorant of the plight of the poultry farmers. 95% of poultry farmers that get into the poultry business have totally had the "wool" pulled over their eyes. The poultry integrators put a spin on being a poultry farmer, and totally trick potential new farmers into the business. Just as the spin that they send out to the general public, trying to make themselves look totally different from their actual true character. Once farmers have signed on the dotted line, and are in the "business", they have it good for a year or two, then reality begins to set in, but then it is too late. Do you really understand why Pilgrims Pride idles these plants, and ruined so many peoples lives? Greed again. They did it to artifically manupulate the price of chicken on the market. Do you understand that? They want you to pay a higher price for their chicken, by creating an artifical "shortage". If the general public knew the practices that go on in these processing plants, everyone would be in an uproar. USDA inspectors have to sign a non disclosure letter, they are not allowed to squeal on these producers. How does trying to increase the price of chicken on the market, play in with better product at a cheaper price. In the chicken business, better product at a cheaper price, means, you slow down the production lines some, allowing the lines to run at a proper pace, you increase the number of plants processing chickens, you stop this manager pushed number of head processed to gain these managers bonuses, and allow for proper clean up and sanitizing efforts, that keeps the maggots and salmonella from growing in the bins, and processors, that the raw chicken comes into contact with. If the public knew the truth about how so many of these managers and supervisors, throw sanitization to the wind in favor of production, or how many hundreds of thousands of pounds of raw poultry is destroyed on a regular basis, because some supervisor is trying to run a line at a rate that it was not desigened to, they would be sickened. It is just a matter of time before it jumps up to bite everyone in the butt. Sorry for the rant, you may just be onto something with your questions. We will not be discouraged, we know we are in the right, we know that the general public needs to be educated, and we will tell the truth the whole truth, and nothing but the truth.
old chicken farmer

Camden, AR

#74 Oct 11, 2010
I find it hilarious the analogy of Wal-Mart and Pilgrim's Pride. Obviously the author of these posts has no idea of how the poultry industry operates. Well, they admitted that. It is like comparing apples and oranges. Oh, and this company, Pilgrim's Pride is owned by a foreign overseas corporation now. It is no longer a U.S. company. I've been visiting farms that have been cancelled and, even though it will be tough, these farmers are dug in and ready to go to court. I am still raising birds but readily support those that have been cut off as should all poultry farmers. Oh yeah, I also seen a tee shirt one of the farmers had and it was so funny. Get this, a person in pilgrim attire giving a chicken a shot in the rump with one hand labled steriods and giving the chicken pills labled antibotics with the other. The caption read, "Just say no - to Pilgrim's Pride".
Promote East Texas

Mount Pleasant, TX

#76 Oct 12, 2010
old chicken farmer wrote:
I find it hilarious the analogy of Wal-Mart and Pilgrim's Pride. Obviously the author of these posts has no idea of how the poultry industry operates. Well, they admitted that. It is like comparing apples and oranges. Oh, and this company, Pilgrim's Pride is owned by a foreign overseas corporation now. It is no longer a U.S. company. I've been visiting farms that have been cancelled and, even though it will be tough, these farmers are dug in and ready to go to court. I am still raising birds but readily support those that have been cut off as should all poultry farmers. Oh yeah, I also seen a tee shirt one of the farmers had and it was so funny. Get this, a person in pilgrim attire giving a chicken a shot in the rump with one hand labled steriods and giving the chicken pills labled antibotics with the other. The caption read, "Just say no - to Pilgrim's Pride".
In this recession that is affecting all local businesses, I just want to recommend to everyone to buy locally and support your local businesses. Many are having a tough time right now and local business is needed for everyone's sake. Pilgrim's Pride has gone through some tough times and had to restructure alot of its business and I want to recommend to everyone that they support Pilgrim's Pride products. They are a local company, with alot of local people employed by them. I'm not sure, but I believe they are the largest employer in this area. They have high quality food at good prices and are bouncing back from the tough times they recently went through. Buy local and support all our area merchants in East Texas.
canceled grower

College Station, TX

#77 Oct 13, 2010
they are a foreign company now boycott pilgrims pride forever.
old chicken farmer

Banks, AR

#78 Oct 13, 2010
Promote East Texas wrote:
<quoted text>In this recession that is affecting all local businesses, I just want to recommend to everyone to buy locally and support your local businesses. Many are having a tough time right now and local business is needed for everyone's sake. Pilgrim's Pride has gone through some tough times and had to restructure alot of its business and I want to recommend to everyone that they support Pilgrim's Pride products. They are a local company, with alot of local people employed by them. I'm not sure, but I believe they are the largest employer in this area. They have high quality food at good prices and are bouncing back from the tough times they recently went through. Buy local and support all our area merchants in East Texas.
I was browsing through stock market reports and this is the 10 stocks being dumped by the smart money. And at #9 is a little company that started with a single feed store and fell just as quickly as it rose. So at #9. Pilgrim's Pride Corporation (PPC): Market cap of $411M. RSI(14) at 30.72. Institutional investors currently own 25,709,395 shares vs. 26,835,594 shares held 3 months ago (-4.2% change). Short float at 5.48%, which implies a short ratio of 6.27 days. The stock has lost -18.38% over the last year.

This report is from MarketWatch. It seems that you have been given some wrong information about PPC bouncing back. Even though I am still contracting with Pilgrim's Pride there is a sense of uncertainty associated with Pilgrim's Pride. It looks pretty precarious for a company that has just climbed out of bankruptcy and is sitting on the edge once again. The number that really jumped out at me was the continued decline, "dumping", of institutional investors. A decline of 4.2% in just the last quarter. Folks, these institutional investors are the experts in this field and are starting to dump this stock. And this report was generated before the recent spike in corn futures. Corn has increased $2/bushel to appx.$5.50/bushel. If I had stock in this company I would be in the process of getting rid of it, quickly.
louisiana chicken ranch

Seymour, TN

#79 Oct 20, 2010
Adra wrote:
Yes, we will continue to support Pilgrim's Pride products in our area. If we don't support local companies then then next step will be for the US to obtain these products oversees as they do with fish and other products. No I am not a Pilgrim's PR person, I am just a person that lives here locally and buys products from local producers. Sorry you guys got the raw end of the deal, but that is just the way it goes in business. I have been through a ton of layoffs and mergers. It's not fun, I have had to move and in most cases have lost money in the process, but that's just the ways it all works. An attorney once told me, "It's not whether you are right or wrong in a lawsuit - it is whom has the most money to string it out and break the opposition." So, who do you think will win? I would bet on the large company. Walmart won their case and tried to publically correct things. This did not stop the public from buying at Walmart like it was said above. Anyway, wish you all well.
theb local company you are supporting sold out to jbs in brazil they know own about half the chicken market and probly half or more of the beef market. they can control beef and poultry prices. also shut down head quaters in pittsburg moving to kansas or somewere. so kansas owned by a company in brazil i wouldnt call local. also got out of paying about a million in taxes to the city before they left

Since: Aug 10

Location hidden

#80 Oct 26, 2010
The Farmersville, Louisiana, poultry farmers are meeting with Pilgrims Prides lawyers today. Last word I got, is that Pilgrims has come to the table with more money, but not near enough to help fix the problem that they created. Best wishes out to the, Farmersville, farmers, we feel your anguish, at least I do.
Ex-Grower

New Albany, IN

#81 Oct 27, 2010
bankruptfarmer wrote:
The Farmersville, Louisiana, poultry farmers are meeting with Pilgrims Prides lawyers today. Last word I got, is that Pilgrims has come to the table with more money, but not near enough to help fix the problem that they created. Best wishes out to the, Farmersville, farmers, we feel your anguish, at least I do.
Have you heard how this went?

Since: Aug 10

Location hidden

#82 Oct 27, 2010
Have not heard any more than I posted above. My wife will see Bob Depper, our attourney, tonight, and she plans to find out some details.

Since: Aug 10

Location hidden

#83 Nov 11, 2010
Latest news is that Pilgrims Pride is dragging their feet on settling with the farmers, they are waiting, I believe, for the farmers to become more desperate. Soon, they will have stalled to much, and the hand that they were playing will be mute. There was a good two part news report by KATV news channel 7 out of Little Rock, Tuesday Nov 9th at 10pm, and Wed. Nov 10th at 10pm. Heather Crawford interviewed some of the farmers that have been devastated by Pilgrims Pride. Pilgrims Prides chose not to be interviewed, choosing instead to basically say that which ever community chooses to give them enough incentives, tax breaks, deals, and such, another words, pay them to come back to the area.
Ramses

Mount Pleasant, TX

#84 Nov 12, 2010
bankruptfarmer wrote:
Latest news is that Pilgrims Pride is dragging their feet on settling with the farmers, they are waiting, I believe, for the farmers to become more desperate. Soon, they will have stalled to much, and the hand that they were playing will be mute. There was a good two part news report by KATV news channel 7 out of Little Rock, Tuesday Nov 9th at 10pm, and Wed. Nov 10th at 10pm. Heather Crawford interviewed some of the farmers that have been devastated by Pilgrims Pride. Pilgrims Prides chose not to be interviewed, choosing instead to basically say that which ever community chooses to give them enough incentives, tax breaks, deals, and such, another words, pay them to come back to the area.
A well known lawyer told me a long time ago that it is not whether you are right or wrong, but whomever has the most money that will win a lawsuit. Motion of continuance and other proceedings can be filed to stall off actions, until the other side crumbles. Bo still has many millions upon millions, so I would say that all this if for not. Any business goes wherever the city will give them the most tax breaks, etc. This is still America and we are still a capitalistic society. Obama and socialism are on the way out now, thank God. Best wishes for you all, but I would not hold my breath on looking to get a big payout. It's all just business. Someone always wins and the other party loses. He whom has the gold makes the rules or rather can have the rules bent as needed.

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