Monsanto Flailing - Roundup Resistance Growing, Roundup Generics Here, Pricey New Corn A Flop

[hatrack]

EDIT

Monsanto, the giant of agricultural biotechnology, has been buffeted by setbacks this year that have prompted analysts to question whether its winning streak of creating ever more expensive genetically engineered crops is coming to an end. The company’s stock, which rose steadily over several years to peak at around $140 a share in mid-2008, closed Monday at $47.77, having fallen about 42 percent since the beginning of the year. Its earnings for the fiscal year that ended in August, which will be announced Wednesday, are expected to be well below projections made at the beginning of the year, and the company has abandoned its profit goal for 2012 as well.

The latest blow came last week, when early returns from this year’s harvest showed that Monsanto’s newest product, SmartStax corn, which contains eight inserted genes, was providing yields no higher than the company’s less expensive corn, which contains only three foreign genes. Monsanto has already been forced to sharply cut prices on SmartStax and on its newest soybean seeds, called Roundup Ready 2 Yield, as sales fell below projections. But there is more. Sales of Monsanto’s Roundup, the widely used herbicide, has collapsed this year under an onslaught of low-priced generics made in China. Weeds are growing resistant to Roundup, dimming the future of the entire Roundup Ready crop franchise. And the Justice Department is investigating Monsanto for possible antitrust violations.

Until now, Monsanto’s main challenge has come from opponents of genetically modified crops, who have slowed their adoption in Europe and some other regions. Now, however, the skeptics also include farmers and investors who were once in Monsanto’s camp. “My personal view is that they overplayed their hand,” William R. Young, managing director of ChemSpeak, a consultant to investors in the chemical industry, said of Monsanto. “They are going to have to demonstrate to the farmer the advantage of their products.”

Brett D. Begemann, Monsanto’s executive vice president for seeds and traits, said the setbacks were not reflective of systemic management problems and that the company was moving to deal with them. “Farmers clearly gave us some feedback that we have made adjustments from,” he said in an interview Monday.
EDIT

http://www.nytimes.com/2010/10/05/business/05monsanto.html?_r=1

[Taverner]

1. This is what bothers me most about Monsanto

It's not the GMOs - GMOs in themselves are most likely harmless

It's not the cutthroat business practices - hell, the market is kill or be killed

It's that they don't beta test anything properly - and they let their consumers do the beta testing for them

[phantom power]

2. Actually, I *do* take exception to their cutthroat business practice...

Monsanto is profoundly anti-competitive. They bully farmers into using their products. When their GMOs cross-pollinate with neighboring crops who choose to not use their product, they file lawsuits.

A major side-effect of their success is that farmers are locked into buying infertile seed every year. It's not like you can re-seed from last year's crop. That's not going to end happily if we ever have to replace their product with something sustainable.

[Taverner]

7. That's Capitalism

How does the old adage go - something about capitalism being the delusion that the most selfish policies will lead to the greatest good?

[dixiegrrrrl]

4. Plus they bankrupt small farmers

under the excuse the farmers are "growing" Monsanto patented seeds, when the seeds
were never intentionally planted. ( "pollen drift").

I am not happy over independent tests which show GMO corn causes damage to rats.
I am especially not happy over the arrogance of forcing us to unknowingly buy GMO and round up ready foods. If there is no problem, why are they afraid to label the foods?

[grantcart]

6. Excellent points

[Odin2005]

10. THANK YOU! Finally soneone who agrees with me!

"It's not the GMOs - GMOs in themselves are most likely harmless

It's that they don't beta test anything properly - and they let their consumers do the beta testing for them"

BINGO! The "Frankenfood" scaremongering just plays into Monsanto's hands by allowing to dismiss real problems with their GMO products

[wuvuj]

17. WRONG!

Read about the stifled GMO research....


http://articles.mercola.com/sites/articles/archive/2010/10/04/watch-out-there-are-more-problems-with-genetically-modified-foods-than-youre-allowed-to-know.aspx


Read about Obama's new appointment....


http://www.alternet.org/story/148402/obama_taps_food-industry_exec_from_multinational_junk-food_giant_mars%2C_inc._for_important_usda_post?page=entire


Same old Sh*t?

[Javaman]

11. I have massive issues with their GMOs...

they hold a patent to a living organism, which according to the constitution is illegal.

Second they create suicide seeds. Seeds that are genetically designed seeds not to reproduce.

They uses strong arm tactics when protecting their "product".

If cross pollination occurs between two fields: one GMO Crops and the other non-GMO, if the GMO crops pollinate the non-GMO crops, the farmer of the non-GMO crops is now libel for "stealing" Monsanto's "technology".

They also go around various rural areas of the nation strong arming seed savers and trying to force them out of business.

Monsanto is a blight.

My issue has always been the virtual monopoly that monsanto holds on certain seeds.

[Nihil]

14. Excellent points. Thanks. (n/t)

[diane in sf]

12. Read "Seeds of Deception," GMOs are most likely pretty harmful--they have altered proteins

that animal and human chemistry have not evolved to handle. They are linked with cancer-like changes in the guts of animals. The process of gene changing is not precisely engineered, it is a process of bombardment with microparticles and genetic material and then seeing what results--it is like exposure to radiation in its results on DNA.

[murray hill farm]

3. As they say...

What goes around, comes around. Happy to see it is happening to Monsanto.

[GliderGuider]

5. Monsanto's (and ADM's) goal is to corner the world's food supply and hold it for commercial ransom.

Plus their pushing of GMO has destroyed much of the organic farming business. It's hard to get organic certification with GMO pollen drifting onto your land.

They define the word "evil" for me.

[poopfuel]

8. I don't think if you include ADM that

Cargill and Con Agra should be excluded

Not to mention many others.

http://community.corpwatch.org/adm/pages/food_industry.php

Scroll to the bottom for lists.

[GliderGuider]

9. I agree.

Big Food, Big Pharma, Big Energy, Big Guns - a Big Pox on all their Big Houses.

[GreenPartyVoter]

15. +1

[joshcryer]

13. Yeah, but the thing is, the patents have almost out and the farmers have learned their lesson.

You can't get fucked unless you let yourself be fucked (not to say that rape doesn't occur).

[LiberalEsto]

16. I call 'em MonSATAN nt