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Borden becomes second major dairy processor to file for bankruptcy

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Borden becomes second major dairy processor to file for bankruptcy

Borden Dairy Co., which was founded in 1857, announced that it has filed for Chapter 11 bankruptcy protection in the District of Delaware. This comes not long after Dean Foods announced it was filing for bankruptcy in November.

Borden intends to use the court process to pursue a financial restructuring designed to reduce its current debt load, maximize value, and position the company for long-term success. Borden plans to continue operating in the ordinary course of business, under the court’s supervision, and remains focused on being the most service-oriented dairy company that offers delicious and nutritious products consumers love.

“Borden is EBITDA-positive and growing, but we must achieve a more viable capital structure,” said Borden CEO Tony Sarsam. “This reorganization will strengthen our position for future prosperity. Over the past 163 years, we have earned the distinction of being one of the most well-recognized and reputable national brands. We remain committed to ‘The Borden Difference,’ which is our promise to be the most service-oriented dairy company that puts people first. We will continue serving our customers, employees, and other stakeholders and operating business as usual throughout this process.”

Sarsam explained the rising costs of raw milk and market challenges led to the decision to file for bankruptcy. “These challenges have contributed to making our current level of debt unsustainable. For the last few months, we have engaged in discussions with our lenders to evaluate a range of potential strategic plans for the Company. Ultimately, we determined that the best way to protect the Company, for the benefit of all stakeholders, is to reorganize through this court-supervised process.”

Could the Twenties be the Decade of the Plant?

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Could the Twenties be the Decade of the Plant?

As the new year dawns and a new decade with it, farmers and ranchers naturally wonder what the next 10 years might bring. Will the '20s be the decade when new, high-tech plant-based competitors do to real meat what almond and oat substitutes have done to milk?

According to the magazine Fast Company, researchers at RethinkX, a think tank, are predicting that and more. RethinkX thinks "we are on the cusp of the fastest, deepest, most consequential disruption" of agriculture in history, with the entire U.S. dairy and cattle industry collapsing by 2030.

University of Iowa research ties pesticides to heart-disease deaths | The Gazette

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University of Iowa research ties pesticides to heart-disease deaths | The Gazette

Findings from the study on pyrethroid exposure were published Monday in the JAMA Internal Medicine journal and reported nationally in publications such as the New York Times.

The UI research suggests individuals with high levels of exposure to pyrethroid insecticides are three times more likely to die of cardiovascular disease than those with low or no exposure.

“You would think, normally, cancer is an important endpoint or the brain is an important endpoint for these kinds of chemicals,” UI occupational and environmental health professor Hans-Joachim Lehmler told The Gazette.

“So I have to admit, from my personal perspective, that looking at cardiovascular disease — that there is actually a link — was quite unexpected.”

And while the research established an association, both Lehmler and Bao cautioned the study hasn’t established individuals died as a direct result of exposure to pyrethroids. Bao said the findings indicate a high likelihood of a link, but follow-up study is needed.