Monsanto under investigation by SEC

[marmar]

Monsanto, the world’s biggest seed-maker by revenues, is being investigated by the Securities and Exchange Commission over its use of cash payments to farmers to use its herbicides.

By Hal Weitzman in Chicago, Financial Times, June 29, 2011


The St Louis-based company provides cash incentives to farmers to use its Roundup glyphosate, the world’s leading herbicide, and Roundup Ready seeds. Its most recent programme offered growers up to $20 per acre.

Monsanto’s herbicide division was once a cash cow, but it collapsed in recent years in the face of low-cost competition from China. The company has been fighting to stabilise Roundup revenues, with cash incentives playing a big role in re-establishing the brand among farmers.

But that approach was called into question on Wednesday, when the seed-maker revealed the SEC probe. Monsanto said the watchdog had launched an investigation into its glyphosate incentive programmes for 2009 and 2010. It said it had received a subpoena for documents, and added that it was co-operating with the investigation. .............(more)

The complete piece is at: http://www.foodfirst.org/en/SEC+investigates+Monsanto

[WhiteTara]

1. May they be put out of business! N/T

[xchrom]

2. ...

:thumbsup:

[get the red out]

3. This is an evil corporation

I know no one cares about all the environmental and health reasons to go after them, but messing with stock values; that one might generate some anger among the powerful.

I will take what we can get.