Monsatano Being Investigated By The SEC
Jul 1, 2011 12:35:01 GMT -5
Post by shann0 on Jul 1, 2011 12:35:01 GMT -5
I predict that the federal investigation will be dropped. This is all for show, seeing as how Monsatano and the Federal Government have been interchanging high level employees for decades.
I find interesting Monsatanos choice of words "We earned their business." When it's a well known fact that once a farmer is persuaded to plant GMO seed they are essentially locked in to using it due to the high cost of switching. Not only that, farmers face the issue of “volunteers” (seeds in the ground from the previous planting) which appear. Then Monsatano aggressively sues farmers for patent infringement, and usually ends up taking the land from the farmer.
Also, when a farmer buys Monsanto seed, he signs a Technology Agreement that stipulates he may not collect seed and replant it. The courts have maintained that farmers are not tied to Monsanto seeds in future seasons. However, it is difficult and expensive to stop using Monsanto seed because he is forced to buy all new seeds for the new season.
www.activistpost.com/2011/06/monsanto-under-federal-investigation.html
Thursday, June 30, 2011Monsanto Under Federal Investigation For Cash Incentives Program
Lucia Graves
Huffington Post
WASHINGTON -- Global agribusiness giant Monsanto is under federal investigation for using cash incentives to persuade distributors to use Roundup, the world's top-selling weedkiller.
Monsanto announced Wednesday the company would cooperate with the Securities and Exchange Commission's probe of its "customer incentives" programs and a subpoena for documents pertaining to the sale of Monsanto's glyphosate products in fiscal years 2009 and 2010.
The US-based company has allegedly been offering distributors up to $20 per acre to use Roundup, as well as Roundup Ready seeds, which have been genetically modified to resist the glyphosate-based herbicide.
The announcement came as the agricultural biotechnology giant reported a 77 percent jump in net income, an increase attributed mostly to the strength of its core seeds and genetic traits businesses.
I find interesting Monsatanos choice of words "We earned their business." When it's a well known fact that once a farmer is persuaded to plant GMO seed they are essentially locked in to using it due to the high cost of switching. Not only that, farmers face the issue of “volunteers” (seeds in the ground from the previous planting) which appear. Then Monsatano aggressively sues farmers for patent infringement, and usually ends up taking the land from the farmer.
Also, when a farmer buys Monsanto seed, he signs a Technology Agreement that stipulates he may not collect seed and replant it. The courts have maintained that farmers are not tied to Monsanto seeds in future seasons. However, it is difficult and expensive to stop using Monsanto seed because he is forced to buy all new seeds for the new season.
www.activistpost.com/2011/06/monsanto-under-federal-investigation.html
Thursday, June 30, 2011Monsanto Under Federal Investigation For Cash Incentives Program
Lucia Graves
Huffington Post
WASHINGTON -- Global agribusiness giant Monsanto is under federal investigation for using cash incentives to persuade distributors to use Roundup, the world's top-selling weedkiller.
Monsanto announced Wednesday the company would cooperate with the Securities and Exchange Commission's probe of its "customer incentives" programs and a subpoena for documents pertaining to the sale of Monsanto's glyphosate products in fiscal years 2009 and 2010.
The US-based company has allegedly been offering distributors up to $20 per acre to use Roundup, as well as Roundup Ready seeds, which have been genetically modified to resist the glyphosate-based herbicide.
The announcement came as the agricultural biotechnology giant reported a 77 percent jump in net income, an increase attributed mostly to the strength of its core seeds and genetic traits businesses.