Tuesday, December 23, 2003
Enjoy That Christmas Roast
This just in--a story that has the potential to be monstrously huge. The first case of mad cow disease has been confirmed in the United States. It may not be a coincidence that it was announced late in the afternoon on the day before Christmas Eve, because the discovery of the disease here could have devastating effects on the beef industry and on corporations that sell vast amounts of beef--McDonalds, for example. The company's financial troubles in recent years can be traced to consumer fears about tainted beef in Britain during the 1990s. But it won't be only multinational corporations that will suffer--so will small beef producers, like my father and brother. The Chicago Mercantile Exchange, where cattle contracts are traded that have an impact on prices from coast to coast, will be open for a shortened trading day tomorrow. Watch for fireworks at the opening bell.
This just in--a story that has the potential to be monstrously huge. The first case of mad cow disease has been confirmed in the United States. It may not be a coincidence that it was announced late in the afternoon on the day before Christmas Eve, because the discovery of the disease here could have devastating effects on the beef industry and on corporations that sell vast amounts of beef--McDonalds, for example. The company's financial troubles in recent years can be traced to consumer fears about tainted beef in Britain during the 1990s. But it won't be only multinational corporations that will suffer--so will small beef producers, like my father and brother. The Chicago Mercantile Exchange, where cattle contracts are traded that have an impact on prices from coast to coast, will be open for a shortened trading day tomorrow. Watch for fireworks at the opening bell.
