December 31,2018-
Wonderful Company announced recently that it will raise the minimum hourly wage for full-time and year-round workers to $15 in January.The company markets citrus, pistachios almonds, grapes and and pomegranates among other fruit. About 2,000 workers will get the raise.
Dairy giant Dean Foods stock has dropped from near $12 at the beginning of 2018 to $3.65 a share today. Zacks reports that “the company has long been grappling with escalated fuel, freight and resin costs, which along with volatility surrounding fluid milk volumes has been hurting its performance.
Dean Foods licenses the Land O’ Lakes brand.
In third-quarter 2018, the company reported disappointing results, wherein both top and bottom line deteriorated year over year due to soft volumes stemming from plant closures and associated transitionary costs.”
Pacific Ethanol hurt by trade war
Stock in Pacific Ethanol of Sacramento has dropped to under $1 in recent weeks. The company has been hurt by the on-going trade war with China, a major market for DDG, ethanol derived animal feed say CEO Neil Koehler.
The stock was given boost recently by President Trump’s decision to allow e-15 ethanol blends starting next May. Only 10% blends are allowed now along with E-85.The company did lay off some workers at a Nebraska plant due to surplus supply.