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02-22-2018, 03:41 PM #11
Aryzta takes a €500m hit on bakery business
Samantha McCaughren
February 4 2018 2:30 AM
A US bakery business bought by Irish-Swiss food group Aryzta less than four years ago for around €530m was sold last week for a knockdown price of only €20m.
The low price for Cloverhill, which has operations in Chicago, follows an immigration crackdown on the business last year which forced out 800 staff, the equivalent of a third of its workforce.
The price tag was revealed in US regulatory filings seen by the Sunday Independent.
The deal by Aryzta to buy Cloverhill was part of a $1bn purchase of two North American assets in 2014. At the time, it was estimated that Cloverhill accounted for $660m (€530m) of that purchase price.
Last year's raids resulted in the departure of skilled bakery staff from Cloverhill and Aryzta struggled to replace them.
The staff that left the facility had been supplied by a third-party agency. The US business became loss-making and last month the group signalled it was preparing to sell the company.
Cloverhill was bought by a company called Hostess Brands and although a price was not revealed in an announcement last week, a filing with the US Securities Exchange Commission said it has been sold for $25m (€20m).
"The transaction is an asset purchase for approximately $25m utilising cash on hand. The assets acquired include approximately $10m of inventory and the property, plant, equipment and customer relationships serviced by the Chicago Cloverhill bakery facility," said the filing.
The new owner expects the business to lose $15m to $20m in the second half of 2018 but to deliver underlying profit of $20m to $25m by 2020.
https://www.independent.ie/business/...-36564641.htmlSupport our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
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02-22-2018, 03:47 PM #12"The only thing necessary for the triumph of evil is for good men to do nothing" ** Edmund Burke**
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02-22-2018, 03:55 PM #13
That would be a problem with the employer, not the worker.
A Nation Without Borders Is Not A Nation - Ronald Reagan
Save America, Deport Congress! - Judy
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02-22-2018, 09:11 PM #14
Not necessarily. If the hires were only interested in temporary positions vice long-term jobs, they could leave after a few days or weeks. I've never hired out through a temp agency, but I would imagine some of the workers aren't interested in full-time or permanent jobs. Perhaps someone more familiar with the workings of a temp agency can provide more information.
"The only thing necessary for the triumph of evil is for good men to do nothing" ** Edmund Burke**
Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts athttps://eepurl.com/cktGTn
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02-22-2018, 10:02 PM #15
I will bet you any money that the illegal workers deliberately poorly trained the black workers because they were angry over them coming to replace them. I'll bet there was a lot of things they just didn't want to show the black workers in order to make them look bad.
I've worked at a place that employed illegals, and even though the illegals always acted friendly when asking us to teach them what we knew, when they would acquire knowledge about something, they were very reluctant, and even viscious, or just plain played stupid, so they wouldn't have to share what they knew with any of the white or black workers.
Some people may falsely say that we are racist, but illegal aliens from south of our border are some of the most racist people I have ever met. And I said on here once before that they use the "N" word all the time when referring to black people, but the liberals won't tell you about that, instead they brainwash black people into supporting these illegals who hate black people, as well as white people.Last edited by 6 Million Dollar Man; 02-22-2018 at 10:06 PM.
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02-22-2018, 10:12 PM #16
Last edited by Judy; 02-23-2018 at 03:55 AM.
A Nation Without Borders Is Not A Nation - Ronald Reagan
Save America, Deport Congress! - Judy
Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
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02-22-2018, 10:55 PM #17
Probably because the company needed immediate staffing to meet operation scheduling and goals. That doesn't mean the company didn't eventually plan on staffing with permanent workers.
Let's not forget what brought us to this point in the discussion. The article was purposely written to paint the illegals in a favorable light while diminishing the black community. You seem to be attempting to strengthening the argument for hiring illegals, while I'm attempting to show possible reasons for the large turnover in black labor."The only thing necessary for the triumph of evil is for good men to do nothing" ** Edmund Burke**
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02-23-2018, 02:58 AM #18
Companies have been using "Temp" companies, labor brokers and labor sub contractors for years to dodge any responsibility for hiring illegals. We have a lot of stuff in the archives about it.
Taken for a Ride: Temp Agencies and ‘Raiteros’ in Immigrant Chicago
https://www.alipac.us/f12/taken-ride...hicago-323614/Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
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02-23-2018, 03:02 AM #19
Related.
“All you Americans are fired.”
The H-2 guest worker program, which brought in 150,000 legal foreign workers last year, isn’t supposed to deprive any American of a job. But many businesses go to extraordinary lengths to deny jobs to U.S. workers so they can hire foreigners instead. A BuzzFeed News investigation.
Jessica Garrison BuzzFeed News Reporter
Ken Bensinger BuzzFeed News Reporter
Jeremy Singer-Vine BuzzFeed News Data Editor
posted on Dec. 1, 2015, at 5:41 p.m.
MOULTRIE, Georgia — “All you black American people, **** you all…just go to the office and pick up your check,” the supervisor at Hamilton Growers told workers during a mass layoff in June 2009.
The following season, according to a lawsuit filed by the Equal Employment Opportunity Commission, about 80 workers, many of them black, were simply told: “All you Americans are fired.”
Read the rest at:
https://www.alipac.us/f12/%93all-you...ed-%94-326894/Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
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02-23-2018, 04:13 AM #20
The employer is responsible for the turnover and lower efficiency rates they are wrongfully blaming on black workers. You are blaming the black workers, saying oh maybe they didn't want full-time long-term work. I am defending the black workers. The employer is responsible for its turnover and efficiency failures, if any, not black workers.
What you are doing is affirming by possible explanations the false narrative of large turnover in black labor which isn't true, it's false. High turnover and/or lower efficiency ratings are not the fault of the workers, regardless of their race, it's the failure of management and ownership, not the work force.A Nation Without Borders Is Not A Nation - Ronald Reagan
Save America, Deport Congress! - Judy
Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
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