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Fresh Del Monte Produce Inc. Message Board

  • stonecrab_4me stonecrab_4me Oct 21, 1999 10:30 AM Flag

    Kaboom ! FDP Under $9

    How low can she go? These guys need to move up
    their earnings release to restore some confidence. Does
    anyone have good info on pineapple prices and whether or
    not DOL has a sweet variety ready for the market?

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    • which grows bananas for internal consumption.

    • Looks like the FDP boys are going to make a big
      play into the fresh cut fruit business.

      comparable business to fresh cut fruit is the fresh cut
      salad business. The fresh cut salad business is a $1
      billion industry right now.

      Fruit consumption is
      higher than vegetable.

      Smart move FDP.


    • October 28, 1999
      Caribbean to seek US support
      in banana trade issues
      �PORT OF SPAIN, Trinidad
      (Reuters) - Caribbean officials plan to meet with U.S.
      Trade Representative Charlene Barshefsky over the
      coming weeks to get support for a proposed quota and
      licensing system for the export of bananas to Europe.

      Dominica's Prime Minister Edison James, who has
      responsibility within the Caribbean Community for the export of
      bananas to Europe, said he is confident the meeting will
      lead to a formal proposal from the Europe Union to the
      WorldTrade organization ministerial meeting in Seattle in
      December.� "The Americans are agreeable but they don't want
      to be associated with the proposal on paper," he
      told reporters in Port of Spain while attending a
      special Caricom meeting this week. "But we propose to
      engage the U.S. trade department at the level of the
      U.S. trade representative and circulate to all
      concern, what we have arrived at and give the EU
      commissioners confidence."� He said the EU was unwilling to
      support a proposal which may then be challenged by the
      United States.� The United States imposed $191 million
      of sanctions on EU exports earlier this year after
      the WTO ruled the bloc's current import system
      favored former colonies in the Caribbean over Latin
      American growers and U.S. marketing giants such as
      Chiquita and Dole Food.
      � Describing the proposed
      system as being "WTO compliant," James said it involved,
      "2.253 tonnes of banana which carry a tariff of 75 Euros
      per tonne; an ACP quota of between 810-870 tonnes
      which would provide duty fee access for traditional ACP
      producers."� He said the proposal would be available to
      non-ACP producers at a tariff of 150 Euros per
      � "It is true to say that we all see this tariff
      quota as the first choice in a negotiated arrangement
      but bearing in mind as it now stands, a tariff-only
      arrangement would unequivocally be WTO compatible.� "But if a
      tariff quota with proper licensing system can be
      negotiated, we can moved forward with that," he said.� James
      said he hopes the matter can be settled by
      mid-November as the EU commission is under pressure to submit
      a proposal to the WTO

    • FDP outside shareholders with at least 1mm

      State of Wisconsin 2.9mm 5.4%
      Palisades Capital
      2.0mm 3.8%
      Morgan/Miller Ander. 1.5mm
      Capital Guardian 1.4mm 2.6%
      Bernstein Asset Mgmt 1.4mm
      Strong Capital 1.0mm 1.9%

      These are holdings as
      of 6/30, except Bernstein which is 9/30. These guys
      represent a little less than 2/3 of the 30%.

    • Stone,

      I'm looking at E*trade and they
      are saying that the institutions (84) hold 30% or
      16M. Any way to tell what the individual holdings are?
      They don't list the major insider holdings either just
      their trades which haven't occured.


    • If FDP were to initiate a buyback program, they
      might as well take the company private. They have poor
      float as it is. Any reduction in shares in the hands of
      outside investors will further reduce float.

    • By the way, let me correct one of your facts. CQB
      does not produce fruit in Ecuador. The buy from
      independents (like ReyBanPac) on an as needed basis. In the
      past, CQB only sourced during the high season, Feb.
      through May. CQB has always come back to Ecuador in order
      to pick up volume to meet seasonal needs and pays a
      steep premium due to their unpredictable purchasing

    • Talking to people in CQB management.

    • Does FDP have a share buyback program? With the big boys dumping like this it seems like this would be a nobrainer for them to bump up the eps.


    • What makes you thing we are a couple weeks from resolving the trade dispute. I thought that was when talks begin, and talks need not lead to a resolution.

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