August 24, 2012, - 12:57 pm
Since I’m Jewish and keep kosher, I’m prohibited from eating Spam by my religion. But even if I were not, you could not make me eat the stuff (unless it were the absolute last digestible source of food on earth). Sadly, many Americans who previously felt the same way are now eating it up because it’s all they can afford in this tough Obama economy. As a result, in the last three years of terrible economic conditions, Hormel’s earnings–largely because of Spam and cheap canned goods–have gone way up.
Hormel Foods Corp.’s fiscal third-quarter earnings rose 13%, led by strong growth in products like Spam canned pork and Mexican salsas, as sales volumes rose at each of the company’s divisions.
The Austin, Minn., meat and packaged-food producer continued a three-year trend of increasing revenue. . . .
Volumes within Hormel’s grocery-products division, which includes Spam and an array of Mexican salsas, rose 16% in the latest quarter. . . .
The shaky U.S. economy has pushed consumers toward cheaper products and smaller purchases, boosting Hormel’s sales of conventional pantry fare like canned chili.
If you work for Hormel, your job is probably safe so long as the economy is bad. If Obama is re-elected (or if Romney is elected and stays the Obama course, which he apparently will for the most part), your job will probably remain safe.
Obama will continue to eat arugula and gourmet organics. His kids will continue to eat their fancy wild-caught salmon luncheons at their exorbitant, elite private school. But as for the rest of America, his attitude is . . .
Let them eat Spam!
Tags: Barack Obama, Hormel, Hormel Foods, Hormel Foods Corp., Hormel Foods Corporation, Obama, Obamaconomy, spam