Article

2020-01-07 Economy

Borden Dairy, the 163-year-old milk producer known for its spokes-cow Elsie, files for bankruptcy after demand drops as people switch to VEGANISM and more say they are lactose intolerant

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Posted by Skidmark 2020-01-07 07:50|| || Front Page|| [2 views ] Top

#1 Another bankruptcy?

Borden suffered significant losses for the period 1991-1993. A 1991 restructuring failed to integrate the company's brands and marketing efforts. When whole milk prices dropped in 1992, Borden Food did not lower its prices—causing a significant drop in market share from which it was not able to recover. Borden divested itself of nearly a third of its businesses in 1993 but could not find a buyer for its snack food concerns. In deep financial difficulty, Borden was bought out by Kohlberg Kravis Roberts (KKR) in 1995.[1] - wiki

One shell after another of a company holding the name.

Posted by Procopius2k 2020-01-07 14:32|| 2020-01-07 14:32|| Front Page Top

#2 I worked for the local Borden's plant for a time -- an older plant that failed to keep up with changing health regulations and eventually had to close. Bordens was one of those companies that got the "Diversification Bug" back in the 70's-80's and invested heavily into its Chemicals/Plastics subsidiary draining their dairy foods core of money. So like US Steel (USX) the core was left to wither away -- Veganism has bupkis to do with their decline.

Posted by magpie 2020-01-07 16:09|| 2020-01-07 16:09|| Front Page Top

#3 My father in law was a dairy farmer. Tough business al the way around. Gummint market distortion at its worst.

Posted by M. Murcek 2020-01-07 16:14|| 2020-01-07 16:14|| Front Page Top

#4 an older plant that failed to keep up with changing health regulations
Ironic in that Borden pretty much invented the concept of health and sanitation in the dairy business.

Posted by Glenmore 2020-01-07 18:39|| 2020-01-07 18:39|| Front Page Top

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