Citizendia

Archer Daniels Midland Company
TypePublic (NYSE: ADM)
FoundedMinneapolis, Minnesota (1902)
HeadquartersDecatur, Illinois
Key peoplePatricia A. Woertz, Chairman, CEO & President
IndustryAgribusiness, Agriculture, Food industry
Productsfoods, beverages, feed, ethanol, bioenergy
Revenue▲ $44 billion USD (2007)
EmployeesOver 27,000(June 30, 2007)
Websitewww.admworld.com

The Archer Daniels Midland Company (NYSE: ADM), is a conglomeration based in Decatur, Illinois. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Year 1902 ( MCMII) was a Common year starting on Wednesday (link will display calendar of the Gregorian calendar (or a Common year starting Decatur is the largest city and the county seat of Macon County in the U Patricia Ann Woertz became CEO of Archer Daniels Midland in 2006 beating out 4 other competitors For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" In Agriculture, agribusiness is a generic term that refers to the various Businesses involved in Food production including Farming, Seed Agriculture refers to the production of goods through the growing of plants and fungi and the raising of domesticated Animals The study of agriculture The food industry is the complex global collective of diverse Businesses that together supply much of the Food energy consumed by the World population. In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Food is any substance usually composed primarily of Carbohydrates Fats water and/or Proteins that can be eaten or drunk by an A drink, or beverage, is a Liquid specifically prepared for Human consumption In Agriculture, fodder or animal feed is any Foodstuff that is used specifically to feed Domesticated Livestock, such as Bioenergy is Renewable energy made available from materials derived from biological sources In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Employment is a Contract between two parties, one being the employer and the other being the employee. Events 350 - Roman usurper Nepotianus, of the Constantinian dynasty, is defeated and killed by troops of the Usurper Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. A conglomerate is a large company that consists of diverse divisions Decatur is the largest city and the county seat of Macon County in the U ADM operates more than 270 plants worldwide, where cereal grains and oilseeds are processed into numerous products used in food, beverage, nutraceutical, industrial and animal feed markets worldwide. Food is any substance usually composed primarily of Carbohydrates Fats water and/or Proteins that can be eaten or drunk by an A drink, or beverage, is a Liquid specifically prepared for Human consumption Nutraceutical, a Portmanteau of Nutrition and Pharmaceutical, refers to extracts of foods claimed to have a medicinal effect on human health For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" In Agriculture, fodder or animal feed is any Foodstuff that is used specifically to feed Domesticated Livestock, such as

ADM also provides agricultural storage and transportation services. Agriculture refers to the production of goods through the growing of plants and fungi and the raising of domesticated Animals The study of agriculture Transport or transportation is the movement of people and goods from one place to another Company divisions include: ADM Cocoa, ADM Corn Processing, ADM Specialty Food Ingredients Food Additives, Lecithin, Protein, ADM Milling, ADM Natural Health & Nutrition Vitamin E & Sterols, ADM Food Oils. Cocoa is the dried and fully fermented fatty seed of the cacao tree from which Chocolate is made A factory (previously manufactory) or manufacturing plant is an industrial Building where workers manufacture goods The American River Transportation Company along with ADM Trucking, Inc are subsidiaries of ADM. The American River Transportation Company, or ARTCO, is a subsidiary of the Archer Daniels Midland company ADM Trucking Inc, a subsidiary of Archer Daniels Midland Company, provides transportation services for the parent company's food beverage nutraceutical industrial and animal ADM's revenues for fiscal 2007 (ending June 30, 2007) were US $44 billion. In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services Events 350 - Roman usurper Nepotianus, of the Constantinian dynasty, is defeated and killed by troops of the Usurper Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. The United States of America —commonly referred to as the

Contents

Products

Typical products include oils and meal from soybeans, cottonseed, sunflower seeds, canola, peanuts, flaxseed, and Diacylglycerol (DAG) oil, as well as corn germ, syrup, starch, glucose, dextrose, crystalline dextrose, High fructose corn syrup sweeteners, ethyl alcohol, and wheat flour. For the coarsely ground flour see Flour. A meal is an instance of Eating, specifically one that takes place at a specific time and includes Cotton is a soft staple Fibre that grows around the seeds of the cotton plant ( Gossypium sp The sunflower ( Helianthus annuus) is an Annual plant in the family Asteraceae and native to the Americas, with a large flowering Canola is a type of Edible oil derived from plants initially bred in Canada by Keith Downey and Baldur Stefansson in the 1970s The peanut, or Groundnut ( Arachis hypogaea) is a species in the Legume family Fabaceae native to South America, Mexico Flax (also known as common flax or linseed) (binomial name Linum usitatissimum) is a member of the genus Linum Diacylglycerol (DAG oil is a Cooking oil in which the ratio of Triglycerides to DAG is shifted to contain mostly DAG unlike conventional Cooking In Cooking, a syrup (from Arabic' ar شراب sharab, beverage via Latin siropus) is a thick Viscous Liquid Starch, CAS # 9005-25-8 Chemical formula (C6H10O5n is a Polysaccharide Glucose (Glc a Monosaccharide (or simple Sugar) also known as grape sugar, is an important Carbohydrate in Biology. Glucose (Glc a Monosaccharide (or simple Sugar) also known as grape sugar, is an important Carbohydrate in Biology. High-fructose corn syrup (HFCS is any of a group of Corn syrups that has undergone Enzymatic processing to increase its Fructose content and is then mixed A sweetener is a Food additive which adds the Basic taste of Sweetness to a food artificial sweeteners are Sugar substitutes Wheat ( Triticum spp is a worldwide cultivated grass from the Levant area of the Middle East. Flour is a powder made of Cereal grains It is the key ingredient of Bread, which is a staple food in many countries and therefore the availability End uses are consumption by people and livestock, and fuel additives. Livestock is the term used to refer (singularly or plurally to a Domesticated Animal intentionally reared in an agricultural setting to produce such as Food Fuel is any material that is burned or altered in order to obtain energy

Long known as a food and ingredients company, ADM has recently shifted increasing resources towards fuel production. According to Foodprocessing.com, a food industry trade publication, ADM nearly doubled capital spending in its 2007 budget to an estimated $1. 12 billion. All of the increase is planned for bioenergy projects, with a particular focus on ethanol and biodiesel. Biodiesel refers to a non-petroleum-based Diesel fuel consisting of short chain Alkyl ( Methyl or ethyl) Esters made by [1]

History

In 1902, George A. Year 1902 ( MCMII) was a Common year starting on Wednesday (link will display calendar of the Gregorian calendar (or a Common year starting Archer and John W. Daniels began a linseed crushing business. John W Daniels (1858? - June 8, 1931) was a co-founder of Archer Daniels Midland. In 1923, Archer-Daniels Linseed Company acquired Midland Linseed Products Company, and the Archer Daniels Midland Company was formed. Every decade since its corporate inception, ADM has added at least one major profit center to its agribusiness: milling, processing, specialty feed ingredients, specialty food ingredients, cocoa, nutrition, and more.

In September 1999, executive Marty Andreas announced that, under pressure from the European agricultural industry, they were going to separate crops into genetically modified and non-genetically modified groups to give their customers a choice. Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) This article is about organisms which have been genetically modified Previously the company had not disclosed their crop sources.

In 2001, Paul B. Mulhollem became the President of ADM. He made history by becoming the first U. S. company to sign a contract with Cuba since forty years ago when the embargo was first passed.

In May 2006, Patricia A. Woertz became CEO. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Patricia Ann Woertz became CEO of Archer Daniels Midland in 2006 beating out 4 other competitors Formerly of Chevron, she is expected to focus on developing ethanol and biofuels. In February of 2007 Ms. Woertz was elected Chairman of the Board at ADM.

Price fixing

In 1993, ADM was the subject of a lysine price fixing investigation by the U.S. Justice Department. Year 1993 ( MCMXCIII) was a Common year starting on Friday (link will display full 1993 Gregorian calendar) The lysine price-fixing conspiracy was an organized effort during the mid-1990s to raise the price of the animal feed additive Lysine. For animal rights group see Justice Department (JD The United States Department of Justice ( DOJ) is a Cabinet department Senior ADM executives were indicted on criminal charges for engaging in price-fixing within the international lysine market. Lysine (abbreviated as Lys or K) is an α- Amino acid with the Chemical formula HO2CCH(NH2(CH24NH2 Three of ADM's top officials, including vice chairman Michael Andreas, were eventually sentenced to federal prison in 1999. Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) Moreover, the company was fined $100 million, the largest antitrust fine in U. S. history at the time(1997). [2] In addition, according to ADM's 2005 annual report a settlement was reached under which ADM paid $400 million in 2005 to settle a class action antitrust suit. [3]

Using the investigation as an example, Ronald W. Cotterill of the Food Marketing Policy Center at the University of Connecticut shows that 100 percent or more of overcharges resulting from price fixing are passed through to consumers. The University of Connecticut ( Connecticut or UConn) is the State of Connecticut 's Land-grant university. [4]

Environmental record

Archer Daniels Midland has been the subject of several major federal lawsuits related to air pollution. In 2001 the company agreed to pay a $1. 46 million fine for violating federal and Illinois clean-air regulations at its Decatur feed plant and to spend $1. 6 million to reduce air pollution there. [5] Based on year 2000 data,[6] ADM was listed as the tenth largest air polluter in the USA by the Political Economy Research Institute. [7] In 2003, ADM settled federal air pollution complaints related to the company's efforts to avoid New Source Review provisions of the Clean Air Act that require pollution control upgrades when a plant is modernized. The New Source Review, (NSR is a permitting process created by the US Congress in 1977 as part of a series of Amendments to the Clean Air A Clean Air Act describes one of a number of pieces of legislation relating to the reduction of Smog and Air pollution in general The company paid $4. 5 million in penalties and more than $6 million to support environmental projects. In addition, ADM agreed to eliminate more than 60,000 tons of emissions of carbon monoxide, particulate matter, organic volatile chemicals and other pollutants from 42 plants in 17 states at a cost of hundreds of millions of dollars. [8]

Criticism of ADM

ADM's receipt of federal agribusiness subsidies have come under criticism. In Agriculture, agribusiness is a generic term that refers to the various Businesses involved in Food production including Farming, Seed In Economics, a subsidy (also known as a subvention is a form of financial assistance paid to a business or economic sector According to the Cato Institute, a libertarian think tank, "ADM has cost the American economy billions of dollars since 1980 and has indirectly cost Americans tens of billions of dollars in higher prices and higher taxes over that same period. The Cato Institute is a Libertarian Think tank headquartered in Washington D Libertarianism is a term used by a broad spectrum of political philosophies which prioritize individual Liberty and seek to minimize or even abolish the A think tank (also called a policy institute) is an organization institute corporation or group that conducts Research and engages in advocacy in areas such At least 43 percent of ADM's annual profits are from products heavily subsidized or protected by the American government. Moreover, every $1 of profits earned by ADM's corn sweetener operation costs consumers $10, and every $1 of profits earned by its ethanol operation costs taxpayers $30. "[9]

In 1994, the New York Times wrote "the Clinton Administration's policy on emission-reducing renewable fuels -- in essence, ethanol made from corn -- is little more than a politically inspired gift to farmers and corn processors, especially the Archer Daniels Midland Company". [10]

ADM's lobbying and campaign contributions have encouraged the continuation of the United States federal sugar program (of trade barriers and price supports) by Congress, costing US consumers roughly $3 billion a year. [9] ADM also lobbied to create and perpetuate federal ethanol subsidies. Some commentators have concluded that the ADM experience demonstrates the need for campaign finance reform. Campaign finance reform is the common term for the political effort in the United States to change the involvement of money in Politics, primarily in Political [9]

ADM advertises on national television, although it does not sell directly to consumers. According to the company, its 2006 television advertising campaign is intended to demonstrate ". . . [the] relationship between ADM and the farmer — and its importance to the [US] economy and [US] way of life. "

In July 2005, the International Labor Rights Fund filed suit against the Nestle, Archer Daniels Midland, and Cargill companies in Federal District Court in Los Angeles on behalf of a class of Malian children who were trafficked from Mali into the Ivory Coast and forced to work twelve to fourteen hours a day with no pay, little food and sleep, and frequent beatings. The International Labor Rights Forum (ILRF is a nonprofit advocacy organization headquartered in Washington DC that describes itself as "an Nestlé is a multinational packaged food company founded and headquartered in Vevey, Switzerland Cargill Incorporated is a privately held, Multinational corporation, and is based in the state of Minnesota in the United States. Mali, officially the Republic of Mali (République du Mali is a Landlocked nation in Western Africa. Côte d'Ivoire (ˌkoʊt divˈwɑː(r ' in English, kot diˈvwaʀ in French) or Ivory Coast, officially the Republic of Côte d'Ivoire, is a The three children acting as class representative plaintiffs are proceeding anonymously, as John Does, because of feared retaliation by the farm owners where they worked. The complaint alleges their involvement in the trafficking, torture, and forced labor of children who cultivate and harvest cocoa beans which the companies import from Africa. Unfree labour is a generic or collective term for those work relations especially in modern or early modern history in which people are employed against their will [11]

Archer Daniels Midland, along with Cracker Barrel and Nestle Purina Pet Care, achieved the lowest score (15 out of 100) of all rated Food and Beverage companies in the Human Rights Campaign's 2008 Corporate Equality Index, a measure of Gay and Lesbian workplace equality. Cracker Barrel Old Country Store Inc, is a chain of 557 "Old Country Stores" (as of 2007 each combining a retail store and a Restaurant. Nestlé Purina PetCare is the Pet food division of Swiss based Nestlé, following a merger in December 12 2001 between the Nestlé's Friskies The Corporate Equality Index is a report published by the Human Rights Campaign Foundation as a tool to rate American businesses on their treatment of Gay, Lesbian In the English language, gay is an Adjective that in modern usage refers to Homosexuality. A lesbian is a Woman who is romantically or sexually attracted only to other women [12].

The company is now facing its first-ever markets campaign, as the environmental group Rainforest Action Network is pressing ADM to stop its expansion into tropical rainforests in Brazil and Southeast Asia to grow soy and palm oil for biofuels. [13]

Movie

References

  1. ^ Fusaro, Dave. "ADM’s big bet on fuel". Foodprocessing. com. Retrieved on June 6, 2007.
  2. ^ Hunter-Gault, Charlayne. "ADM: Who's Next?" MacNeil/Lehrer Newshour. PBS. October 15, 1996. See transcript here [1]
  3. ^ Archer Daniels Midland Company. 2005 Annual Report. p. 52, note 15. See report at [2]
  4. ^ Cotterill, Ronald W. "Estimation of Cost Pass Through to Michigan Consumers in the ADM Price Fixing Case". University of Connecticut. 1998. See paper at [3]
  5. ^ "Archer Daniels Fined Over Clean-Air Rules. " The Los Angeles Times, January 13, 2001.
  6. ^ [http://www.peri.umass.edu/Technical-Notes.264.0.html Political Economy Research Institute Toxic 100 Corporate Toxics Information Project Technical Notes retrieved 12 Nov 2007
  7. ^ THE TOXIC 100: Top Corporate Air Polluters in the United States. Political Economy Research Institute website. Retrieved on 2007-10-31. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 445 BC – Ezra reads the Book of the Law to the Israelites in Jerusalem (see Nehemiah 91 NLTse
  8. ^ 2 Companies Said to Agree To Settle Suits on Emission. The New York Times, April 9, 2003. Retrieved on April 4, 2008.
  9. ^ a b c Bovard, James. "Archer Daniels Midland: A Case Study In Corporate Welfare". Cato Policy Analysis No. 241. CATO Institute. September 26, 1995. See study at [4]
  10. ^ Market Place; In valuing Archer Daniels, analysts look past ethanol. - New York Times
  11. ^ http://www.laborrights.org/projects/childlab/FinalCocoa-Complaint_Jul05.pdf
  12. ^ http://www.hrc.org/documents/HRC_Corporate_Equality_Index_2008.pdf 2008 Corporate Equality Index. Accessed 27 November 2007.
  13. ^ http://ran.org/what_we_do/rainforest_agribusiness/ RAN. org. Accessed 04 January 2008.
  14. ^ Herald & Review | News: Hollywood adaptation of 'The Informant' to film in Decatur in April, May

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