Monsanto's fortunes turn sour
source: http://www.nytimes.com/2010/10/05/business/05monsanto.html?_r=1
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- JanforGore
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1.Monsanto's Fortunes Turn Sour
The New York Times, 4 October 2010
http://www.nytimes.com/2010/10/05/business/05monsanto.html?_r=1
As recently as late December, Monsanto was named "company of the year" by Forbes magazine. Last week, the company earned a different accolade from Jim Cramer, the television stock market commentator. "This may be the worst stock of 2010," he proclaimed.
Monsanto, the giant of agricultural biotechnology, has been buffeted by setbacks this year that have prompted analysts to question whether its winning streak from creating ever more expensive genetically engineered crops is coming to an end.
The company’s stock, which rose steadily over several years to peak at around $145 a share in mid-2008, closed Monday at $47.77, having fallen about 42 percent since the beginning of the year. Its earnings for the fiscal year that ended in August, which will be announced Wednesday, are expected to be well below projections made at the beginning of the year, and the company has abandoned its profit goal for 2012 as well.
The latest blow came last week, when early returns from this year’s harvest showed that Monsanto’s newest product, SmartStax corn, which contains an unprecedented eight inserted genes, was providing yields no higher than the company’s less expensive corn that contains only three foreign genes.
Monsanto has already been forced to sharply cut prices on SmartStax and on its newest soybean seeds, called Roundup Ready 2 Yield, as sales fell below projections.
But there is more. Sales of Monsanto’s Roundup, the widely used herbicide, has collapsed this year under an onslaught of low-priced generics made in China. Weeds are growing resistant to Roundup, dampening the future of the entire Roundup Ready crop franchise. And the Justice Department is investigating Monsanto for possible antitrust violations.
Until now, Monsanto’s main challenge has come from opponents of genetically modified crops, who have slowed their adoption in Europe and some other regions. Now, however, the outspoken critics also include farmers and investors who were once in Monsanto’s camp.
“My personal view is that they overplayed their hand,” William R. Young, managing director of ChemSpeak and a consultant to investors in the chemical industry, said of Monsanto. “They are going to have to demonstrate to the farmer the advantage of their products.”
Brett D. Begemann, Monsanto’s executive vice president for seeds and traits, said the setbacks were not reflective of systemic management problems and that the company was already moving to deal with them.
“Farmers clearly gave us some feedback that we have made adjustments from,” he said in an interview Monday.
Mr. Begemann said that Monsanto used to introduce new seeds at a price that gave farmers two thirds and Monsanto one third of the extra profits that would come from higher yields or lower pest-control costs. But with SmartStax corn and Roundup Ready 2 soybeans, the company’s pricing aimed for a 50-50 split.
That backfired as American farmers grew only 6 million acres of Roundup Ready 2 soybeans this year, below the company’s goal of 8 million to 10 million acres, and only 3 million acres of SmartStax corn, below the goal of 4 million.
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- recommended by:
- lordsbassman,
- Vierotchka
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queenofit
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Found this article today...What Monsanto's Fall from Grace Reveals......
http://www.grist.org/article/2010-10-12-what-monsantos-fall-from-grace-reveals-a...
- 2 years ago
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queenofit
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WhiteNoise
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RESISTANCE IS FUTILE THEY SAY ;)
Percy Schmeiser vs Monsanto: The Story of a Canadian Farmer’s Fight to Defend the Rights of Farmers and the Future of Seeds
http://www.democracynow.org/2010/9/17/percy_schmeiser_vs_monsanto_the_story - 2 years ago
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WhiteNoise
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PressCore
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WhiteNoise:
" The bigger they are, the harder they fall, one and all " I think that
quote might be attributable to a real person named Marley. Monsanto's
motives are closer to the Marley named Jacob from Charles Dicken's book
" A Christmas Carol ". From the outrageous things I've heard alleged about
Monsanto's purpose in the NWO, (sterilizing the poor of the world so that they
can't reproduce to control the world's population overgrowth), if true, and I
wouldn't doubt it, Marley's partner in evil greed, Ebineezer Scrooge summed
up the NWO's Banksters' attitude: " Are there no debtor's prisons, no
poorhouses for the poor ? " " Then I suggest they simply die, and decrease
the surplus population " When I found out pinocio'bama helped place a
Monsanto exec as head of the Dept. of Agriculture, I almost pucked.
The Press knows him now for the NWO elitist he seeks to be. They won't
turn a blind eye to all Nobama'a duplicity next time around. - 2 years ago
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PressCore
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queenofit
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I am so hopeful hearing this news, along with recent discovery that their canola seed is running rampant in the countryside,which will further the ongoing movement to bring GMO to a complete and utter halt. (I can wish, can't I?)
- 2 years ago
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queenofit
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JanforGore
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queenofit:
Yes, this is indeed an opportunity. I still have hope we can get them labelled and then one day they will be no more in our food. My only regret is that they have already been allowed to contaminate so much, and now, Arbor Gen wants to start planting GE trees in the South. That too cannot happen. The entire board of Monsanto along with their officers should be brought up on charges as well as all of the companies that conspired to deliberately deceive consumers with their fraudulent claims and environmental destruction. I can have hope for that too.
- 2 years ago
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JanforGore
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JanforGore
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http://current.com/news/91940176_raj-patel-on-how-free-markets-inhibit-food-just...
Raj Patel on "The Value of Nothing."
- 2 years ago
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JanforGore
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bklynkid
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This is the best news I've gotten in a long long time! I dream of the day I can stop being nervous about what I am buying from the grocery store. I seriously thought I was being healthy eating tofu until about a year ago. I've been duped by the devil it's self.
- 2 years ago
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bklynkid
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Wolfspade
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Enjoy the Handbasket we've made for you! You are headed for Hell Monsanto. Sincerely, The Little People!
- 2 years ago
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Wolfspade
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toastyguy11
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Yay! fuck monsanto! Let's just eat organic instead and send a message so farmers will change their practices.
- 2 years ago
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toastyguy11
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MrMxyzptlk [removed]
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toastyguy11: This comment was removed as a violation of community guidelines.
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MrMxyzptlk [removed]
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JanforGore
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toastyguy11:
Yes, eating organic could actually cut down on health expenses and work towards actually lowering the cost of food in the longrun as it requires less imputs and works to preserve soil and our climate balance which increases yield. Pay a bit more for good food now, or pay for your triple bypass later. It's a no brainer as far as I am concerned. I can do without one less DVD in my house, or video game for the X Box, or some other extravagance I don't really need to make sure my family eats better food because I care about the effect that has on the future. It's called prioritizing. And it also does send a message to farmers that Monsanto's monoculture is really a dead end.
- 2 years ago
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JanforGore
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Proud_Progressive
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MrMxyzptlk:
You're pretty poor, aren't you?
- 2 years ago
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Proud_Progressive
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MrMxyzptlk [removed]
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Proud_Progressive: This comment was removed as a violation of community guidelines.
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MrMxyzptlk [removed]
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Proud_Progressive
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MrMxyzptlk:
Get a better job.
- 2 years ago
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Proud_Progressive
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MrMxyzptlk [removed]
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Proud_Progressive: This comment was removed as a violation of community guidelines.
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MrMxyzptlk [removed]
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simguy665
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MrMxyzptlk:
yes, exactly. double cheeseburger = $1 ... local fruit, organic tea, baked chicken = $6 im not seeing the down side. it may cost more to eat healthy and to screw a huge corporation at the same time but its worth it.
- 2 years ago
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simguy665
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Proud_Progressive
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MrMxyzptlk:
So then why do anything, by that logic? Why eat at all?
If you don't want to buy organic, that's your decision. I won't make you. Mocking the choices other people make is childish. But the practices of Monsanto go far beyond mere organic or not, and that's why we're so concerned.
- 2 years ago
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Proud_Progressive
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bklynkid
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MrMxyzptlk:
Maybe if you didn't fill your self up on GMO foods so much your doctor bills wont be so high in the long run. Your body does not break these foods down naturally which leads to health complications.
- 2 years ago
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bklynkid
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artemis6
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JanforGore:
Like the kid said , you can pay the organic farmer or you can pay the hospital..... and HOPE they can actually help you .
- 2 years ago
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artemis6
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JanforGore
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simguy665:
And actually that cheap food is the deception. If it were valued based on the environmental damage done in getting it to the table it would be out of reach as far as being affordable. But corporations can buy off governments and use speculation in the markets to keep their brand of junk food cheap while food grown the right way is more expensive. People need to consider the residual costs of eating such foods in regards to the healthcare costs and the environmental sacrifice to get it to them in order to understand that one dollar hamburger is really a 20 dollar hamburger if it is priced based on indirect costs (rainforest/habitat degradation, price of cattle, animal feed, shipping, carbon footprint, water footprint, fossil fuels used, pesticides used, etc) It is the same with fossil fuels in comparison to say solar energy. Coal is not priced by considering indirect costs such as health risks and environmental degradation to land, water and air. If it were solar panels would be so inexpensive every one could have them. The mechanisms set in place by governments and market structures to deceive us are what need to be shattered as well before we can see true food and energy parity. Therefore, yes, buying food grown sustainably is not intrinsicly more expensive when you understand how it is grown and that you do have a better chance of eating something that is in the longrun healthier for you and the environment especially if it is grown locally. That then makes it worth the price you pay in the longterm.
I've posted about Raj Patel's book above that hits it right on the mark. And Monsanto is indeed part of this deception as well.
- 2 years ago
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JanforGore
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Proud_Progressive
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I'm not buying this. It's going to bounce back.
- 2 years ago
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Proud_Progressive
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JanforGore
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Proud_Progressive:
Well, they have a toxic replacement for Round Up in the works based on what I've read. That's why we need to keep the pressure on in relaying this information to as many people as we can.
- 2 years ago
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JanforGore
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Proud_Progressive
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JanforGore:
If that doesn't work, they'll just keep suing farmers whose crime was being near a Monsanto farm.
- 2 years ago
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Proud_Progressive
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JanforGore
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Proud_Progressive:
Well, farmers then need to keep suing them.
- 2 years ago
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JanforGore
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Proud_Progressive
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JanforGore:
Better pass the hat around...
- 2 years ago
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Proud_Progressive
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cheshiresleeves
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This is great news! Thanks Jan! So strange to know after all of the documentaries last year that they still got #1 company in Forbes. I'm glad the good gears are turning.
- 2 years ago
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cheshiresleeves
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JanforGore
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"The company’s stock, which rose steadily over several years to peak at around $145 a share in mid-2008, closed Monday at $47.77, having fallen about 42 percent since the beginning of the year"
And they can spin this any way they want, but it is the power of the consumer and the power of information that is a big part of this and we have to keep it up!
- 2 years ago
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JanforGore
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kangarooman
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thank God, its about time somethin bad happened to these motherfuckers.
- 2 years ago
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kangarooman
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mindcruzer
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Christian Science Monitor?
- 2 years ago
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mindcruzer
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Vierotchka
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mindcruzer:
It is an excellent media, despite its name.
- 2 years ago
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Vierotchka
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MrMxyzptlk [removed]
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Vierotchka: This comment was removed as a violation of community guidelines.
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MrMxyzptlk [removed]
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Vierotchka
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MrMxyzptlk:
I have yet to read an article on the Christian Science Monitor which pushes evil ways on anyone.
- 2 years ago
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Vierotchka
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mindcruzer
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MrMxyzptlk:
Haha well played.
- 2 years ago
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mindcruzer
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mybologna
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I hope their stock goes down to zero. This is an evil, evil, company.
- 2 years ago
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mybologna
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Mark701
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Personally this is one company I wouldn't mind seeing getting ground to dust.
- 2 years ago
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Mark701
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lordsbassman
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That's weird I added this too. Glad you found it though and it made it to the front.
- 2 years ago
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lordsbassman
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JanforGore
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lordsbassman:
Didn't know that. Add the link in here then if you wish. We can't get enough of this good news.
- 2 years ago
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JanforGore
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lordsbassman
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JanforGore:
http://current.com/technology/92711278_monsanto-s-income-fell-by-nearly-half-for...
We must of posted real close to each other. I'm happy about this. I hope they go under completely.
- 2 years ago
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lordsbassman
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JanforGore
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lordsbassman:
Me too, and we're not alone.
- 2 years ago
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JanforGore
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JanforGore
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Not to brag, but I think a good chunk of this is also attributable to using the Internet for its stated purpose. Not Bsing on Facebook, but actually using it to get out truth.
- 2 years ago
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JanforGore
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lordsbassman
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JanforGore:
I let people know about Monsanto every time I can on FB. With stories like these from NYTimes and you.
- 2 years ago
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lordsbassman
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JanforGore
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lordsbassman:
That's great.
- 2 years ago
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JanforGore
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JanforGore
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The tide is turning. And after Monsanto comes Bayer and Syngenta. Boycott GMOS.
- 2 years ago
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JanforGore
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s_peak
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JanforGore:
Their time has come. I have a lot of companies on my list... Monsanto is near the top! This is good news!
- 2 years ago
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s_peak
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grandavi [removed]
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JanforGore: This comment was removed by its owner.
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grandavi [removed]
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JanforGore
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grandavi:
He is not. You need to get out of the nineties concerning Mr. Gore and actually read his books that indicate the contrary. And stop trying to turn my support away from him as if it would be some kind of victory or something. It is obvious and disingenuous.
- 2 years ago
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JanforGore
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cheshiresleeves
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grandavi:
Yeah that's a pretty wack statement. This company ruin's countless lives but Al Gore backing the company more than 10 years ago is the"big issue"?
- 2 years ago
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cheshiresleeves
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JanforGore
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cheshiresleeves:
And the point is that this company then courted both parties and while Clinton did allow them in, they were already well entrenched and pulling the wool over people's eyes with their deceptions and there were at least people in his administration who were against them as well. Do I approve of that? No, but, there is no evidence regarding Mr. Gore being a "backer" of Monsanto but plenty on many others in every other administration since the first Bush, particularly Bush Jr's regime who had more people appointed to positions from Monsanto and Searle including Rumsfeld than any other administration. John Ashcroft actually got more donations from Monsanto in 2000 than any other candidate as well. Therein lies the hypocrisy of the Al Gore hater's club on Current that never takes a holiday. But it also illustrates just how important it is for us to never relent on making our voices heard in telling DC that we will not accept the continued support of environmental terrorists that use deceit and lobbying money to influence policy over health... which is the topic of this post.
- 2 years ago
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JanforGore
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cheshiresleeves
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JanforGore:
Absolutely. Keep up the good work! I'll do the same.
- 2 years ago
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cheshiresleeves
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queenofit
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JanforGore:
Al Gore is NOT the person who is connected to the early investments into GMO, but there is strong evidence the earliest invention of Terminator Seeds goes back to Arkansas investor group, Stephens Group of Little Rock, Arkansas. Then if you care to read this article it will not take anywhere near Al Gore, but does lead to the Clinton's.
"Under the Clinton Presidency, agribusiness, especially agribusiness tied to the Stephens’ interests, made huge advances." from article linked here, I hope.( I haven't been here in a while not sure how things are formatted on current. It keeps changing?)
http://www.engdahl.oilgeopolitics.net/GMO/Monsanto/monsanto.html
- 2 years ago
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queenofit
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JanforGore
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queenofit:
Yes, Hillary Clinton is big on them too. I posted about that when she first became SOS. Matter of fact she was just recently in Kenya with Tom Vilsack pushing them. This is what their foreign food aid bill is all about.
- 2 years ago
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JanforGore
