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FDA wants to make companies more accountable for food supply contamination
Daily Finance reports this morning that "Food and Drug Administration chief Margaret Hamburg, beset with an egg-and-salmonella food safety challenge, said Monday the agency must move from a reactive to preventive enforcement strategy ... At the same time, she said Congress should pass pending legislation that would provide her agency with greater enforcement power, including new authority over imported food."
Supply chain efficiency will play a major role in determining success of GM's IPO
SmartPlanet published some interesting stats on GM following the automaker's IPO filing last week. Specifically:
- "GM has a global network of more than 21,700 independent dealers.
- In 2009, the company (old and new) sold 7.5 million vehicles, or approx. 11.6 percent of worldwide vehicle sales.
- Seventy-two percent of its sales were outside the U.S., with 38.7 percent coming from emerging markets, including BRIC nations: Brazil, Russia, India and China."
SmartPlanet also states that as the second-largest automaker, GM will need to place especially close attention to the "minefield" of supplier risk as "suppliers have attempted to increase their prices, pass through increased costs, alter payment terms, or seek other relief..."
Need for "supply chain correction" at Corning cited as reason for analyst's rating cut
Barron's claimed on Friday that "Corning shares are trading lower this morning after Jefferies analyst George Notter cut his rating on the stock to Hold from Buy, while reducing his target on the stock to $18.25, from $24. Notter writes in a research note that after conversations with industry contacts this week, he has concerns about a 'supply chain correction'."
With Corning reporting that "inventory levels in the supply chain has picked up to 18.5 weeks from 16 weeks," Notter says "the weight of the evidence shows a more significant inventory issue than Corning is suggesting" and "that LCD panel prices fell 7%-10% in early August..."