Goodbye Hershey!

[DR104 141]

growing up with Hershey bars, and just as sad

for the generations of today. What will be

outsourced next?

Pennsylvania is a big state, but it amazes me in

this day, how some news doesn't make it over the

mountain to the front page of our papers or the top

Of our news hours in Western Pennsylvania.

Milton Hershey, this year, will be joining H. J Heinz

in rolling over in his grave. Hershey Chocolate is

moving to MEXICO...whoopee! They're even closing

down Hershey Canada. Don't buy any more Hershey

Bars. Reese's Peanut Butter Cups are my favorite and

they are made by Hershey. But, I will not purchase

Another one!

M.S. Hershey had a dream... I will buy my OWN Sugar,

Milk, Cocoa beans, (all natural mind you!) and make candy...

(no tariffs etc..) EVEN during the depression...HE and the

Company made money...NOW some Corporate big wigs are

ruining the name... AND the product M.S. created... Please

pass it on...What a bunch of college educated "idiots".

Thank you M.S. Hershey for all the things I have and all you have

done for me and my family..."I" do appreciate it... as for

"Dick" Lenny and Company...good luck you greedy, money

loving BAST@%$S ...you are ruining the name, the company,

and MANY lives in central Pennsylvania.... read on...

Enough is Enough!

So Hershey executives are closing plants in the US ,

laying off over a thousand people, and destroying

Mr. Hershey's dream, all to cut labor, material costs

and AVOID PAYING ANY US TAXES!

The company will save about $170 million a year,

all on the backs of the American people. The top

executives will still make their mega bucks and the

laid off workers will have to find other jobs, some

probably at minimum wage due to their age. All this

to take their jobs to India, China and Mexico, So

WHAT part of the "GREAT" American Chocolate

Bar is left?...NOTHING! These countries are no

doubt laughing at the Americans, who they don't

like anyway. How long are the American people

going to sit around and let big corporations do this

to us? We must all band together and let our Politicians

in Washington know we have had it with NAFTA, CAFTA

and "SHAFTA" and we won't take it any longer!

[helicopper 1,050]

So, I take it you're against this move???

I agree that outsourcing benefits only the Corporation and not the employees, customers or the US!

[ex-commish 490]

What will be outsourced next?

Just about everything corporate America as well as government can outsource. Jobs, services, etc. Do it cheap is the agenda while we watch Americans lose jobs and watch our economy wither away while it prospers elsewhere.

[emt301 4]

More information on this is available at the following link:

http://www.snopes.com/politics/business/hersheys.asp

[Guest WolfEMT]

UPDATE 3-Hershey profit slumps 66 pct as costs rise

Thu Oct 18, 2007 11:37am EDT

(Adds company and analyst comments, stock activity, byline)

By Brad Dorfman

CHICAGO, Oct 18 (Reuters) - Hershey Co (HSY.N: Quote, Profile, Research) posted a 66 percent drop in quarterly profit on Thursday, hit by higher costs for ingredients like milk, restructuring charges and falling sales amid aggressive competition from Mars Inc.

Hershey shares fell as operating earnings came in below analysts' estimates, and the maker of Hershey Kisses and Reese's peanut butter cups, said 2008 would be a challenging year.

During a conference call with analysts, David West, the chief operating officer set to become chief executive on Dec. 1, conceded the company had been slow to develop products in the faster growing premium chocolate market. But he said a new line of chocolates developed with Starbucks Corp (SBUX.O: Quote, Profile, Research) and its Hershey Bliss chocolates would help it catch up next year.

"This year we were playing defense," West said. "Next year we will be playing offense."

But analysts think it could be some time before Hershey can turn things around.

"We assign little probability to a change in ownership structure, and expect minimal (earnings per share) growth for the next two years given the sizable marketing reinvestment needed," Pablo Zuanic, analyst at J.P. Morgan, said in a research note.

Hershey shares were down $1.61, or 3.6 percent, to $42.68 in late Thursday morning trade on the New York Stock Exchange.

Analysts have argued that a merger with Cadbury Schweppes Plc (CBRY.L: Quote, Profile, Research) could help boost Hershey's international presence. But Hershey's top shareholder, the Hershey Trust, has said it is not willing or able to give up the controlling stake it holds in the company, a move that might be necessary for a Cadbury deal.

Hershey said profit was $62.8 million, or 27 cents a share, in the third quarter, compared with $185.1 million, or 78 cents, a year earlier.

Excluding one-time charges, earnings were 68 cents a share. Analysts' average forecast was 71 cents, according to Reuters Estimates.

Sales fell 1.4 percent to $1.40 billion and were below the $1.44 billion forecast by analysts.

Sales were hurt by tighter credit conditions for distributors and slower-than-anticipated improvement in convenience store sales, the company said.

LOSING A CEO AND MARKET SHARE

The earnings report comes after Chief Executive Richard Lenny unexpectedly announced early in October plans to step down and West was named as his successor.

West said the company is evaluating its portfolio to bring prices more in line with what consumers are willing to pay for some products and to also make sure it has products in the formats that retailers are looking for.

The company also plans to continue spending more to support premium chocolate products, as well as its core brands and global expansion in 2008.

"This ongoing work, combined with input cost volatility, makes for a challenging operating environment," West said.

The company will also examine its long-term annual growth targets -- currently 3 percent to 4 percent for sales and 9 percent to 11 percent for earnings from continuing operations -- to see if they are "realistic."

Hershey said it lost 1.1 percentage points of market share in the quarter as competitors had more new products, especially in the premium chocolate segment.

For the full year, Hershey forecast earnings of $2.08 to $2.12 per share before restructuring charges, well below analysts' average forecast of $2.24.

The company is in the midst of overhauling its supply chain, cutting jobs, reducing the number of production lines by more than a third, outsourcing production of some products, and building a manufacturing plant in Mexico.

At Wednesday's close, Hershey stock was trading at 18.3 times estimated 2008 earnings, compared with a multiple of 26.6 for rival confectioner Wm Wrigley Jr Co (WWY.N: Quote, Profile, Research). (See http://blogs.reuters.com/category/themes/shop-talk/ for "Shop Talk" -- Reuters' retail and consumer blog) (Reporting by Brad Dorfman)

It's not like Hershey is going to close it's doors any minute. Sales, although they fell, are at $1.4 Billion. If you figure that the average price of a bag of Hershey bars is $3.00, annual sales of $1.4 Billion equals a lot of candy. They are also not outsourcing all of their operations to Mexico, just some of them; I don't think they'd be that hard up for cash that they would pack up and move South of the Border, leaving a town with virtually no other industry to fend for itself.

[fire2141 33]

It's not like Hershey is going to close it's doors any minute. Sales, although they fell, are at $1.4 Billion. If you figure that the average price of a bag of Hershey bars is $3.00, annual sales of $1.4 Billion equals a lot of candy. They are also not outsourcing all of their operations to Mexico, just some of them; I don't think they'd be that hard up for cash that they would pack up and move South of the Border, leaving a town with virtually no other industry to fend for itself.

Don't plan on this government helping. Just imagine how many of our elected officials are stockholders in outsourced US corperations. If they are there is certainly no interest in getting these products produced in the US. Just think about our immigration problems and all that they are doing to recitfy them. Its all about the cash and the votes. Whats the matter with a little lead in your childrens toys?

[Guest alsfirefighter]

The only person you have to thank for this is President Bill Clinton when he championed NAFTA. Call it what you want, but when he signed it and it eliminated the tariffs once avoided it allowed many US companies to lower costs. I don't like it, but I understand it and today's global economy is way different then even when the depression was around.

[Future Fireman 4]

The only person you have to thank for this is President Bill Clinton when he championed NAFTA. Call it what you want, but when he signed it and it eliminated the tariffs once avoided it allowed many US companies to lower costs. I don't like it, but I understand it and today's global economy is way different then even when the depression was around.

NADTA= Corporations paying people in Mexico less to make a product than in the US. This is stupid, growing up in my early years I LOVED Hershey's chocolate. (Come to think of it, that's probably how I'm overweight. Although I can lift 100+ in any way you want ) Now however, I say screw Hershey. I hope their chocolate melts in HELL!!!! :angry:

Mike

Edited October 22, 2007 by Future Fireman

[pjreilly 6]

And dont forget the little money maker in PA, Hershey Park. They soak you for everything you have got. Boycott the theme park as well as the candy.

[Guest alsfirefighter]

Don't plan on this government helping.

Why should anyone "plan" on having the government help private businesses? That is not what the role of the federal government is based on the concept of federalism. Did they approve money for the rail and airline industry...yes, but a collapse of that industry could wreak havoc on our national economy and strangle every american in the pocket.

[Guest]

Its funny how people just make rash comments with out really knowing what they're talking about. ALS seems to be the only one who can support his comments with intelligent evidence to back himself up.

[fire2141 33]

What I meant by "don't plan on this government helping" was the current congress, White House yada, yada, yada. can't seem to tackle even the simplelist of problems. I wasn't referering to the government giving Hershy a handout. Lets take the immigration problem for instance. Is that not a national problem with epic proportions? When an uninsured American citizen can be wiped out financially due to a catostrophic illness and an illegal gets off without paying one dime in the emergency room, I would see we have an disfunctional government. Trust me I'm not unpatriotic either. I did my time in the military. Lets' face it we are falling at a fast pace. Sorry for the rant.

[Guest pentax02839]

Well, I'm not suprised by this move to mexico. Yes, NAFA had lot to do with it. Well, look at the problem that happened with the cat dog foods. If im not mistaken, wasnt that grain that was imported from china? The same place they had lead paint problem. Well, what kind of sanitary codes do they have in Mexico? Will it take finding out that they have some sort of issue with something being mixed that shouldn't have. Everything now is being made or gets something from outside this Country. Also, what about the toohpaste from China? A lot of companies find it easier to move south of the border.They make the same car or truck for less, and sell for a lot more money here, and make a huge profit.

Edited October 24, 2007 by DOC22
Multiple Spelling & Grammer Errors

[Guest pentax02839]

Well, you can blame clinton for NAFTA. I can see we might be going into a recession. What is next to made outside this country or even outsourced?

Edited October 28, 2007 by DOC22
Punctuation and Grammar Errors

[Guest alsfirefighter]

Is that not a national problem with epic proportions?

Is it really? When we all go to the supermarket do we complain about the prices of the fruits and vegetables we eat because they are fairly low? Do you think who's hands helped plant and picked those items or the fact that they often do jobs that are apparantly above many americans. Are they wrong because they want the American dream and for survival reasons come here by any means necessary often for family and children? Its kind of funny I don't see too many hispanic, russian, polish, irish or other illegal immigrants here for work living in mansions. Not to mention the amount of money they pour into local economies. They work hard and earn a living..I respect that.

When an uninsured American citizen can be wiped out financially due to a catostrophic illness and an illegal gets off without paying one dime in the emergency room,

Well...there is 2 ways to look at this:

1. American citizens are offerred assistance through hospital services for either payment plans and they even have social services personnel who get money from outside agencies and other means to write off the monies. Illegal or legal...they attempt to get their money. After all they are businesses...whether private or not for profit...hospitals need money to. And as a medical provider...in the urban areas I work...I rarely run into the American who's down on his luck in regard to health insurance if you know what I mean. Maybe in your area that's the case...but rare in my urban environment and many are getting their medical through out tax subsidies.

2. Who's fault is it that they got smart and they can't be tracked down for payment?

The last time I checked my family didn't fall upon north america from a meteor...my family split hundreds of years ago, some came here some went to Australia. The only family I have that is from here is my great grandmother's side who was pure Shoshoni.

On a side note lets remember that regardless of what our personal, political opinions are...they have no merit on the street. They are humans who deserve the same service as everyone else and under federal law have the same civil rights that we do. Keep your opinions, political views and prejudices home.