Milling & Baking News - March 29, 2005 - 1

Theinewsweeklyiofigrain-basedifoods

General Mills still upbeat about
whole grains as earnings slip
MINNEAPOLIS - While a difficult
breakfast cereal market contributed to
a 5% year-over-year earnings decline at
General Mills, Inc., the company's recent
whole grains conversion will pay off in the
future, said Stephen W. Sanger, chairman
and chief executive officer.
Third-quarter results also were hurt by
taxes related to the February sale of General Mills' stake in Snack Ventures Europe
(S.V.E.) to PepsiCo as well as accounting
changes. On the positive side, the company's Bakeries and Foodservice operating
earnings surged.
Net income of General Mills in the third
quarter ended Feb. 7 was $230 million,

LATE

American
Institute of Baking

equal to 63c per share on the common
stock, down 5% from $242 million, or 64c
per share, in the third quarter of fiscal 2004.
Net sales were $2,772 million, up 2.6%.
During the quarter General Mills incurred certain identified costs:
* $45 million, or 12c per share, in taxes
related to the disposition of its interest in
S.V.E.;
* $4 million, or 1c per share, in restructuring and other exit costs, and associated
costs; and
* 3c per share charge for adjustment for
EITF 04-8 accounting treatment, which requires contingently convertible debt to be
Continued on Page 14

Milling industry works to bring
testing of StarLink to conclusion
ORLANDO, FLA. - An end to mandatory
testing for the adventitious presence of
StarLink in the corn supply ranks high on
the agenda of the North American Millers'
Association in coming months, said Elizabeth A. (Betsy) Faga, president.
Ms. Faga reviewed a series of NAMA
priorities in a March 20 interview with
Milling & Baking News. Ms. Faga was in Or-

SINCE 1919

lando in connection with the annual meeting of the American Bakers Association.
"One of our major objectives is to get
that resolved," Ms. Faga said. "Unfortunately, it's not an easy task. Even when we
show the traces of the Cry9C protein are in
the parts per trillion, the government is reluctant to act. Meanwhile, corn millers are
Continued on Page 29

NEWS
OMAHA - A strong performance by its Food Ingredients
segment highlighted an otherwise difficult third quarter at
ConAgra Foods, Inc. Food Ingredient operating profits in
the quarter ended Feb. 27 were $60 million, up 10% from the
third quarter last year. Sales rose 9%, to $608 million. Higher
volumes and improved market conditions drove the strong
performance of "grain-based foods ingredients," the company said. Dehydrated onion and other vegetable ingredients had a tough
Continued on Page 8

Ingredients
a plus at
ConAgra

inside

MARCH 29, 2005

bakingbusiness.com / world-grain.com

Insert included
Tom Harkin: Stop the
junk food ads
WASHINGTON - As part of a call for aggressive action to address poor nutrition
among American children, Senator Tom
Harkin of Iowa on March 16 challenged the
food industry to limit the junk food advertising it gears toward children. Mr. Harkin
indicated that if the industry fails to live
up to the challenge he would be inclined to
push for legislation to impose federal regulation of junk food marketing to children.
"Parents' choices about their children's
eating habits are undermined by junk food
ads every day," Mr. Harkin said. "Although
parents may want their kids to eat healthy,
they often lose out because SpongeBob
SquarePants, Shrek and cartoon superheroes
Continued on Page 12

THIS WEEK

Krispy
Kreme
bakeries out
at Wal-Mart

Michigan
Sugar to
halt beet
processing

9

10

Ingredient
Bush taps
Portman
as next
U.S.T.R.

28

Week
sponsored by

30


http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - March 29, 2005

Table of Contents for the Digital Edition of Milling & Baking News - March 29, 2005

Contents
Milling & Baking News - March 29, 2005 - 1
Milling & Baking News - March 29, 2005 - 2
Milling & Baking News - March 29, 2005 - 3
Milling & Baking News - March 29, 2005 - Contents
Milling & Baking News - March 29, 2005 - 5
Milling & Baking News - March 29, 2005 - 6
Milling & Baking News - March 29, 2005 - 7
Milling & Baking News - March 29, 2005 - 8
Milling & Baking News - March 29, 2005 - 9
Milling & Baking News - March 29, 2005 - 10
Milling & Baking News - March 29, 2005 - 11
Milling & Baking News - March 29, 2005 - 12
Milling & Baking News - March 29, 2005 - 13
Milling & Baking News - March 29, 2005 - 14
Milling & Baking News - March 29, 2005 - 15
Milling & Baking News - March 29, 2005 - 16
Milling & Baking News - March 29, 2005 - 17
Milling & Baking News - March 29, 2005 - 18
Milling & Baking News - March 29, 2005 - 19
Milling & Baking News - March 29, 2005 - 20
Milling & Baking News - March 29, 2005 - 21
Milling & Baking News - March 29, 2005 - 22
Milling & Baking News - March 29, 2005 - 23
Milling & Baking News - March 29, 2005 - 24
Milling & Baking News - March 29, 2005 - 25
Milling & Baking News - March 29, 2005 - 26
Milling & Baking News - March 29, 2005 - 27
Milling & Baking News - March 29, 2005 - 28
Milling & Baking News - March 29, 2005 - 29
Milling & Baking News - March 29, 2005 - 30
Milling & Baking News - March 29, 2005 - 31
Milling & Baking News - March 29, 2005 - 32
Milling & Baking News - March 29, 2005 - 33
Milling & Baking News - March 29, 2005 - 34
Milling & Baking News - March 29, 2005 - 35
Milling & Baking News - March 29, 2005 - 36
Milling & Baking News - March 29, 2005 - 37
Milling & Baking News - March 29, 2005 - 38
Milling & Baking News - March 29, 2005 - 39
Milling & Baking News - March 29, 2005 - 40
Milling & Baking News - March 29, 2005 - 41
Milling & Baking News - March 29, 2005 - 42
Milling & Baking News - March 29, 2005 - 43
Milling & Baking News - March 29, 2005 - 44
Milling & Baking News - March 29, 2005 - 45
Milling & Baking News - March 29, 2005 - 46
Milling & Baking News - March 29, 2005 - 47
Milling & Baking News - March 29, 2005 - 48
Milling & Baking News - March 29, 2005 - 49
Milling & Baking News - March 29, 2005 - 50
Milling & Baking News - March 29, 2005 - 51
Milling & Baking News - March 29, 2005 - 52
Milling & Baking News - March 29, 2005 - 53
Milling & Baking News - March 29, 2005 - 54
Milling & Baking News - March 29, 2005 - 55
Milling & Baking News - March 29, 2005 - 56
Milling & Baking News - March 29, 2005 - 57
Milling & Baking News - March 29, 2005 - 58
Milling & Baking News - March 29, 2005 - 59
Milling & Baking News - March 29, 2005 - 60
Milling & Baking News - March 29, 2005 - 61
Milling & Baking News - March 29, 2005 - 62
Milling & Baking News - March 29, 2005 - 63
Milling & Baking News - March 29, 2005 - 64
Milling & Baking News - March 29, 2005 - 65
Milling & Baking News - March 29, 2005 - 66
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https://www.nxtbook.com/sosland/mbn/2016_07_05
https://www.nxtbook.com/sosland/mbn/2016_06_21
https://www.nxtbook.com/sosland/mbn/2016_06_07
https://www.nxtbook.com/sosland/mbn/2016_05_24
https://www.nxtbook.com/sosland/mbn/2016_05_10
https://www.nxtbook.com/sosland/mbn/2016_04_26
https://www.nxtbook.com/sosland/mbn/2016_04_12
https://www.nxtbook.com/sosland/mbn/2016_03_29
https://www.nxtbook.com/sosland/mbn/2016_03_15
https://www.nxtbook.com/sosland/mbn/2016_03_01
https://www.nxtbook.com/sosland/mbn/2016_02_16
https://www.nxtbook.com/sosland/mbn/2016_02_02
https://www.nxtbook.com/sosland/mbn/2016_01_19
https://www.nxtbook.com/sosland/mbn/2016_01_05
https://www.nxtbook.com/sosland/mbn/2015_12_22
https://www.nxtbook.com/sosland/mbn/2015_12_08
https://www.nxtbook.com/sosland/mbn/2015_11_24
https://www.nxtbook.com/sosland/mbn/2015_11_10
https://www.nxtbook.com/sosland/mbn/2015_10_27
https://www.nxtbook.com/sosland/mbn/2015_10_13
https://www.nxtbook.com/sosland/mbn/2015_09_29
https://www.nxtbook.com/sosland/mbn/2015_09_15
https://www.nxtbook.com/sosland/mbn/2015_09_01
https://www.nxtbook.com/sosland/mbn/2015_08_18
https://www.nxtbook.com/sosland/mbn/2015_08_04
https://www.nxtbook.com/sosland/mbn/2015_07_21
https://www.nxtbook.com/sosland/mbn/2015_07_07
https://www.nxtbook.com/sosland/mbn/2015_06_23
https://www.nxtbook.com/sosland/mbn/2015_06_09
https://www.nxtbook.com/sosland/mbn/2015_05_26
https://www.nxtbook.com/sosland/mbn/2015_05_12
https://www.nxtbook.com/sosland/mbn/2015_04_28
https://www.nxtbook.com/sosland/mbn/2015_04_014
https://www.nxtbook.com/sosland/mbn/2015_03_31
https://www.nxtbook.com/sosland/mbn/2015_03_17
https://www.nxtbook.com/sosland/mbn/mbn/2015_03__03
https://www.nxtbook.com/sosland/mbn/2015_02_17
https://www.nxtbook.com/sosland/mbn/2015_02_03
https://www.nxtbook.com/sosland/mbn/2015_01_20
https://www.nxtbook.com/sosland/mbn/2015_01_06
https://www.nxtbook.com/sosland/mbn/2014_12_23
https://www.nxtbook.com/sosland/mbn/2014_12_09
https://www.nxtbook.com/sosland/mbn/mbn_2014_11_25
https://www.nxtbook.com/sosland/mbn/2014_11_11
https://www.nxtbook.com/sosland/mbn/2014_10_28
https://www.nxtbook.com/sosland/mbn/2014_10_14
https://www.nxtbook.com/sosland/mbn/2014_09_30
https://www.nxtbook.com/sosland/mbn/2014_09_16
https://www.nxtbook.com/sosland/mbn/2014_09_02
https://www.nxtbook.com/sosland/mbn/214_08_19
https://www.nxtbook.com/sosland/mbn/2014_08_01
https://www.nxtbook.com/sosland/mbn/2014_07_22
https://www.nxtbook.com/sosland/mbn/2014_07_08
https://www.nxtbook.com/sosland/mbn/2014_06_24
https://www.nxtbook.com/sosland/mbn/2014_06_10
https://www.nxtbook.com/sosland/mbn/2014_05_27
https://www.nxtbook.com/sosland/mbn/2014_05_13
https://www.nxtbook.com/sosland/mbn/2014_04_29
https://www.nxtbook.com/sosland/mbn/2014_04_15
https://www.nxtbook.com/sosland/mbn/2014_04_01
https://www.nxtbook.com/sosland/mbn/2014_03_18
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https://www.nxtbook.com/sosland/mbn/2014_02_18
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https://www.nxtbook.com/sosland/mbn/2014_01_21
https://www.nxtbook.com/sosland/mbn/2014_01_07
https://www.nxtbook.com/sosland/mbn/2013_12_24
https://www.nxtbook.com/sosland/mbn/2013_12_10
https://www.nxtbook.com/sosland/mbn/2013_11_26
https://www.nxtbook.com/sosland/mbn/2013_11_12
https://www.nxtbook.com/sosland/mbn/2013_10_29
https://www.nxtbook.com/sosland/mbn/2013_10_15
https://www.nxtbook.com/sosland/mbn/2013_10_01
https://www.nxtbook.com/sosland/mbn/2013_09_17
https://www.nxtbook.com/sosland/mbn/2013_09_03
https://www.nxtbook.com/sosland/mbn/2013_08_20
https://www.nxtbook.com/sosland/mbn/2013_08-06
https://www.nxtbook.com/sosland/mbn/2013_07_23
https://www.nxtbook.com/sosland/mbn/2013_07_09
https://www.nxtbook.com/sosland/mbn/2013_06_25
https://www.nxtbook.com/sosland/mbn/2013_06_11
https://www.nxtbook.com/sosland/mbn/2013_05_28
https://www.nxtbook.com/sosland/mbn/2013_05_14
https://www.nxtbook.com/sosland/mbn/2013_04_30
https://www.nxtbook.com/sosland/mbn/2013_04_16
https://www.nxtbook.com/sosland/mbn/2013_04_02
https://www.nxtbook.com/sosland/mbn/2013_03_19
https://www.nxtbook.com/sosland/mbn/2013_03_05
https://www.nxtbook.com/sosland/mbn/2013_02_19
https://www.nxtbook.com/sosland/mbn/2013_02_05
https://www.nxtbook.com/sosland/mbn/2013_01_22
https://www.nxtbook.com/sosland/mbn/2013_01_08
https://www.nxtbook.com/sosland/mbn/2012_12_25
https://www.nxtbook.com/sosland/mbn/2012_12_11
https://www.nxtbook.com/sosland/mbn/2012_11_27
https://www.nxtbook.com/sosland/mbn/2012_11_13
https://www.nxtbook.com/sosland/mbn/2012_10_30
https://www.nxtbook.com/sosland/mbn/2012_10_16
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https://www.nxtbook.com/sosland/mbn/2012_09_18
https://www.nxtbook.com/sosland/mbn/2012_09_04
https://www.nxtbook.com/sosland/mbn/2012_08_21
https://www.nxtbook.com/sosland/mbn/2012_08_07
https://www.nxtbook.com/sosland/mbn/2012_07_24
https://www.nxtbook.com/sosland/mbn/2012_07_10
https://www.nxtbook.com/sosland/mbn/2012_06_26
https://www.nxtbook.com/sosland/mbn/2012_06_12
https://www.nxtbook.com/sosland/mbn/2012_05_29
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https://www.nxtbook.com/sosland/mbn/2012_05_01
https://www.nxtbook.com/sosland/mbn/2012_04_17
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https://www.nxtbook.com/sosland/mbn/2012_03_20
https://www.nxtbook.com/sosland/mbn/2012_03_06
https://www.nxtbook.com/sosland/mbn/2012_02_21
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https://www.nxtbook.com/sosland/mbn/2012_01_24
https://www.nxtbook.com/sosland/mbn/2012_01_10
https://www.nxtbook.com/sosland/mbn/2011_12_27
https://www.nxtbook.com/sosland/mbn/2011_12_13
https://www.nxtbook.com/sosland/mbn/2011_11_29
https://www.nxtbook.com/sosland/mbn/2011_11_15
https://www.nxtbook.com/sosland/mbn/2011_11_01
https://www.nxtbook.com/sosland/mbn/2011_10_18
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https://www.nxtbook.com/sosland/mbn/2011_09_20
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https://www.nxtbook.com/sosland/mbn/2011_08_23
https://www.nxtbook.com/sosland/mbn/2011_08_09
https://www.nxtbook.com/sosland/mbn/2011_07_26
https://www.nxtbook.com/sosland/mbn/2011_07_12
https://www.nxtbook.com/sosland/mbn/2011_06_28
https://www.nxtbook.com/sosland/mbn/2011_06_14
https://www.nxtbook.com/sosland/mbn/2011_05_31
https://www.nxtbook.com/sosland/mbn/2011_05_17
https://www.nxtbook.com/sosland/mbn/2011_05_03
https://www.nxtbook.com/sosland/mbn/2011_04_19
https://www.nxtbook.com/sosland/mbn/2011_04_05
https://www.nxtbook.com/sosland/mbn/2011_03_22
https://www.nxtbook.com/sosland/mbn/2011_03_08
https://www.nxtbook.com/sosland/mbn/2011_02_22
https://www.nxtbook.com/sosland/mbn/2011_02_08
https://www.nxtbook.com/sosland/mbn/2011_01_25
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https://www.nxtbook.com/sosland/mbn/2010_12_28
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https://www.nxtbook.com/sosland/mbn/2010_10_19
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https://www.nxtbook.com/sosland/mbn/2010_09_21
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https://www.nxtbook.com/sosland/mbn/2010_08_24
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https://www.nxtbook.com/sosland/mbn/2010_04_20
https://www.nxtbook.com/sosland/mbn/2010_04_06
https://www.nxtbook.com/sosland/mbn/2010_03_23
https://www.nxtbook.com/sosland/mbn/2010_03_09
https://www.nxtbook.com/sosland/mbn/2010_02_23
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https://www.nxtbook.com/sosland/mbn/2010_01_26
https://www.nxtbook.com/sosland/mbn/2010_01_12
https://www.nxtbook.com/sosland/mbn/2009_12_29
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https://www.nxtbook.com/sosland/mbn/2009_12_01
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https://www.nxtbook.com/sosland/mbn/2009_09_22
https://www.nxtbook.com/sosland/mbn/2009_09_08
https://www.nxtbook.com/sosland/mbn/2009_08_25
https://www.nxtbook.com/sosland/mbn/2009_08_11
https://www.nxtbook.com/sosland/mbn/2009_07_28
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https://www.nxtbook.com/sosland/mbn/2009_06_30
https://www.nxtbook.com/sosland/mbn/2009_06_16
https://www.nxtbook.com/sosland/mbn/2009_06_02
https://www.nxtbook.com/sosland/mbn/2009_05_19
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https://www.nxtbook.com/sosland/mbn/2009_04_21
https://www.nxtbook.com/sosland/mbn/2009_04_08
https://www.nxtbook.com/sosland/mbn/2009_04_07
https://www.nxtbook.com/sosland/mbn/2009_03_24
https://www.nxtbook.com/sosland/mbn/2009_03_10
https://www.nxtbook.com/sosland/mbn/2009_02_24
https://www.nxtbook.com/sosland/mbn/2009_02_10
https://www.nxtbook.com/sosland/mbn/2009_01_27
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https://www.nxtbook.com/sosland/mbn/2008_12_16
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https://www.nxtbook.com/sosland/mbn/2008_11_18
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https://www.nxtbook.com/sosland/mbn/2008_10_21
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https://www.nxtbook.com/sosland/mbn/2008_09_23
https://www.nxtbook.com/sosland/mbn/2008_09_09
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https://www.nxtbook.com/sosland/mbn/2008_04_22
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https://www.nxtbook.com/sosland/mbn/2008_04_01
https://www.nxtbook.com/sosland/mbn/2008_03_25
https://www.nxtbook.com/sosland/mbn/2008_03_11
https://www.nxtbook.com/sosland/mbn/2008_02_26
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https://www.nxtbook.com/sosland/mbn/2007_11_20
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https://www.nxtbook.com/sosland/mbn/2006_12_19
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https://www.nxtbook.com/sosland/mbn/2004_06_15
https://www.nxtbook.com/sosland/mbn/2004_06_08
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