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Congressional Investigation of the Beef Industry

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PORKER

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Just had to post this Story before the long drive to warmer weather.
BEEF NEWS


11/30/2005


The equivalent of a congressional investigation of the beef industry is on tap in Brazil, as a Sao Paulo newspaper, Folha de Sao Paulo, claimed it has a videotape of the head of Grupo Fruboi, one of the largest meatpackers in the world, bragging that he and three competitors had fixed the price of beef in Brazil.

The Chamber of Deputies Agricultural Committee was scheduled to debate the formation of an investigative committee, after a procedural requirement to gather at least 171 signatures from deputies to authorize such a committee. It will examine whether or not Grupo Friboi and its competitors have formed a cartel, possible manipulation of prices of beef and the purchase of Argentina's largest meatpacker, Swift Armour S.A., by Friboi. The cartel charge had been made earlier by a national agriculture and livestock association, and government investigators are planning to examine the videotape to judge its validity.
 

Econ101

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PORKER said:
Just had to post this Story before the long drive to warmer weather.
BEEF NEWS


11/30/2005


The equivalent of a congressional investigation of the beef industry is on tap in Brazil, as a Sao Paulo newspaper, Folha de Sao Paulo, claimed it has a videotape of the head of Grupo Fruboi, one of the largest meatpackers in the world, bragging that he and three competitors had fixed the price of beef in Brazil.

The Chamber of Deputies Agricultural Committee was scheduled to debate the formation of an investigative committee, after a procedural requirement to gather at least 171 signatures from deputies to authorize such a committee. It will examine whether or not Grupo Friboi and its competitors have formed a cartel, possible manipulation of prices of beef and the purchase of Argentina's largest meatpacker, Swift Armour S.A., by Friboi. The cartel charge had been made earlier by a national agriculture and livestock association, and government investigators are planning to examine the videotape to judge its validity.


Boy, I wish our Congress was as responsive.
 

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