Tuesday, December 31, 2013

Archer Daniels Midland Co

Price fixing, deforestation and mad cow disease
American River Transportation Co. (an Archer Daniels Midland Co) paid a $3 million fine for spilling oil and grease into the St. Louis sewer system and the Mississippi River from 2004-07.

ADM produces biofuels, food ingredients, animal feeds and feed ingredients

In 1996 ADM pled guilty and paid a record $100 million fine for price-fixing in the lysine market

ADM is one of the primary forces driving deforestation in the Brazilian Amazon due to soybean farming

Their production of palm oil is driving rainforest destruction in Indonesia

It was found that their cottonseed-based animal feed contained gossypol, (a naturally occurring poisonous pigment) and that they were illegally disposed of genetic organisms (including rats and animal by-products) by adding them to the animal feed.

On January 12, 2001, ADM agreed to pay a $1.46 million fine for violating federal and Illinois clean-air rules at a corn feed plant

as of 2008, ADM ranked #2 on the Political Economy Research Institute of UMass' Toxic 100, a ranking of the top 100 industrial polluters in America

Here's their Board of Directors:
Patricia A. Woertz-Chairman, Chief Executive Officer and President
Alan L. Boeckmann-Retired Chairman and Chief Executive Officer, Fluor Corporation
Terrell K. Crews-Retired Chief Financial Officer, Monsanto
Mollie Hale Carter-Chairman and Chief Executive Officer of Sunflower Bank and Vice President of Star A, Inc.
Donald E. Felsinger-Retired Chairman and CEO of Sempra Energy
Pierre Dufour -Senior Executive Vice President, Air Liquide Group; President and CEO of American Air Liquide
Patrick J. Moore -President and Chief Executive Officer of PJM Advisors, LLC
Antonio Maciel Neto-CEO, CAOA Group
Kelvin R. Westbrook -President and CEOP of KRW Advisors, LLC
Thomas F. O'Neill Co-CEO of Kimberlite Group LLC
Daniel T. Shih-Deputy Chairman and Executive Director, Stella International Holdings Limited

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