• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

Ranchers.net

Slumping meat stocks forcing PETA to buy more shares

By Janie Gabbett on 12/5/2008


As shares of publicly traded meat companies slide with the rest of the market, People for the Ethical Treatment of Animals has had to buy more shares to ensure its ability to continue its shareholder resolution campaign.

PETA has long purchased tiny holdings in major meat processors in order to gain access to shareholder meetings and offer shareholder resolutions to generate publicity and further the organization's goals.

In order to submit a resolution, PETA must have owned at least $2,000 worth of stock in the company for one year prior to the submission date. If the value dips below that figure at any point during the year, PETA is prohibited from submitting a resolution per federal regulations.

"To remain eligible to submit the resolutions in a depressed market, PETA has had to revamp its stock-purchasing strategy by buying additional shares," the group said in a news release.

Among the companies PETA has recently increased its stake in are: Pilgrim's Pride, Tyson Foods, Sonic Corporation, O'Charley's Inc., Domino's Pizza, Inc., California Pizza Kitchen and Ingles Markets.
Top