ConAgra Foods, Inc. (NYSE: CAG (http://www.nyse.com/about/listed/lcddata.html?ticker=CAG)) is one of North America's largest packaged foods companies. ConAgra's products are available in supermarkets, as well as restaurants and food service establishments.
On July 19th, ConAgra expanded the recall to 19 million pounds of tainted meat.
According to food inspection team members who have blown the whistle to GAP, the USDA shielded ConAgra by a policy that is nothing less than a another cover-up harmful to the consumer and public health.
By its "Don't Look, Don't Know" policy for beef inspection, the USDA chose ignorance of the facts over the truth that ConAgra was given the seal of approval for meat that was infected with E. coli many months before the 19 million pounds of tainted beef recalled in June, 2002.
ConAgra's announcement follows the company's decision in February to put its refrigerated meats businesses up for sale, in a deal worth almost $2 billion, as it attempts to streamline its operations and focus on segments where it is more competitive in the market.
ConAgra said the announced actions, which include an increased marketing spend of about $75 million, are designed to improve long-term operating performance.
Last year ConAgra blamed higher pork and beef costs and the company's failure to compensate by raising prices sufficiently as the main reasons for lowering its profits forecast by about one-third for the fiscal fourth quarter ended 29 May.
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