In Face of Soaring Corn Prices, DuPont Bosses Cling To FOOD-to-FUEL & FABRICS Business Model! Bio-Foolishness
Good Morning, Bonjour, Guten Tag, Buon Giorno,
Governor Jack Markell, a long-time pal and neighbour of Ms. Ellen Kullman has asked for a waiver of ethanol mandates for motor fuel in the dwarf state of Delaware. In the meantime the DuPont Chieftess and her ninth floor cronies continue to embrace their ridiculously flawed FOOD-to-FUEL & FABRICS paradigm. Using perfectly good food, such as corn as an industrial raw material to manufacture costly corn carpets and corn clothes and corn airplane deicers and corn-based plastics exposes DuPont to extensive censure from consumers and their political leaders. A PR disaster is in the making.
Another fallout: One of the reasons, Ms. Kullman cited for over-paying $7 billion for Danisco, a maker of industrial enzymes and food additives was the biofuel market. But it looks like the ethanol market will be cratered as a consequence of a massive drought in the U. S. and skyrocketing corn and bean and wheat prices. OOPS! Look for some real sales erosion for DuPont's industrial biofuel enzymes.
We are waiting to see the sanitisation of FOOD-to-FUEL & FABRICS by the DuPont PR con artists in the face of a global food crisis. How are they possibly going to play it? For starters, they will drench their PR in dishonesty and denial!
Merely the morning commentary of one individual investor and long-time student of the stumbling, fumbling DuPont.