-Caveat Lector- >Shareholders Back General Mills > >By KARREN MILLS >AP Business Writer 9/27/00 >MINNEAPOLIS (AP) via NewsEdge Corporation - >General Mills shareholders on Monday showed >strong support for the company's decision to use >genetically-modified ingredients in Big G cereals and other >products because U.S. regulators say they are safe. > >A proposal asking the cereal and snacks maker not to use >gene-altered ingredients until long-term testing shows they are not >harmful to humans, animals and the environment was defeated by >shareholders at the company's annual meeting by a margin of more >than 21-to-1. > >The proposal also had asked that General Mills, in the interim, >label and identify products that may contain genetically engineered >ingredients. > >Sister Zoa Braunworth, a Franciscan nun from Rochester, Minn., >who introduced the resolution, said the use of genetically >engineered ingredients could open General Mills to consumer >boycotts and lawsuits and hurt its stock price. > >Sister Dorothy Olinger, a nun with the Adrian Dominican Sisters, >told shareholders there is no reason for General Mills to use >genetically engineered products until long-term testing has been >done. > >``There is no reason for General Mills customers to be the >guinea pigs,'' Olinger said. > >In response, chairman and CEO Steve Sanger said biotechnology is >a safe way to develop improved seeds for farmers and can be used to >produce foods to keep people healthier. > > >Few shareholder concerns were expressed at the meeting about the >company's planned acquisition of Pillsbury for a combined $10.1 >billion in stock and debt even though General Mills stock has >dropped $2.50, to around $34 per share, since the merger was >announced. The stock peaked 11 months ago at a little less than >$44. > >General Mills announced in July that it will buy Pillsbury, >owner of the Green Giant vegetable and Haagen-Dazs ice cream >brands, from London-based food and drinks conglomerate Diageo PLC >for $5 billion in stock. It will also assume $5.1 billion in >Pillsbury debt. > >The deal, expected to be completed by year's end, will create >the world's fifth-largest food company. <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html">Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
