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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

JBS S.A. to Invest $120 Million in COVID-19 Aid

05/14/2020

According to a report in Reuters, JBS S.A., holding company for Pilgrim’s Pride and JBS USA, packers of pork and beef will spend $120 million “to help the communities where its team members live and work around the world.”  Of the total, $52 million will be assigned to the U.S. where JBS employees have suffered disproportionately to workers in Cargill, Tyson, and Hormel plants, suggesting deficiencies in prevention. Given worker protests, there also appears to be a problem of communication.

 

The company may assume that the Presidential Executive Order, with indemnity, may provide some legal protection and a motivation to reopen plants, but workers cannot be forced to place livelihood over lives.

 

It is doubtful that the $120 million will have the desired effect of alleviating concern and restoring worker relations.  The money that will be spent is obviously too late to bring back those who have died and clearly demonstrates attitudes towards workers that might be described as neocolonial.  The unfortunate aspect of the situation is that most of the JBS USA and Pilgrim’s Pride plants are managed by U.S. personnel.

 

Investors should take into account events over the past three months if and when JBS S.A. attempts a renewed IPO of their U.S. holdings under a new company to be listed on the NYSE. A posting on the Q1 financial Report of JBS SA is included in this edition.


 
Copyright © 2020 Simon M. Shane