Milling & Baking News - November 1, 2005 - (Page 1)

Theinewsweeklyiofigrain-basedifoods / $ A.B.A. taps MacKie as president, c.e.o.; Sanders to new post BRASELTON, GA. - The American Bakers Association on Oct. 20 appointed Robb MacKie, currently vice-president of government relations, as president and chief executive officer of the association effective Jan. 1. Mr. MacKie succeeds Paul Abenante, who will retire after having spent the past 19 years as the association's president and c.e.o. "We are extremely excited to have Robb as the next leader of A.B.A.," said Gary Prince, chairman of the board and president and c.e.o. of Weston Foods, Inc. "His energy and focus will help guide the industry through the challenges it faces in the years to come. We feel strongly that Robb has the leader- ship skills, intelligence and energy to take A.B.A. and the wholesale baking industry to a new level." In addition to Mr. MacKie's appoint ment, the A.B.A. promoted Lee Sander to senior vice-president of governmen relations and public affairs. Ms. Sanders responsibilities for the newly created posi tion will become effective Jan. 1. She wil retain the position of corporate secretary for the association. Mr. MacKie joined the A.B.A. in 1995 a vice-president of government relations During his tenure, he has worked to in crease the A.B.A.'s profile and effectiveness in Washington policy circles as an Continued on Page 37 Millers review details of methyl bromide critical use exemption WASHINGTON - At no other time in memory has the milling industry had so many issues "on our plate," Elizabeth A. (Betsy) Faga, president, North American Millers' Association, told members of the NAMA board of directors assembled in Washington Oct. 18. Because of the press of developments LATE affecting milling, and the opportunities to meet with federal officials while in Washington, the board accepted committee reports in written form and devoted most discussion to issues of greatest concern, including the methyl bromide critical use exemption, allergen labeling, U.S. export Continued on Page 24 NEWS KANSAS CITY - American Italian Pasta Co. has determined that its financial statements for the past three years should no longer be relied upon. The company said it plans to file restated financials for the affected periods as soon as practical after conclusion of its ongoing audit committee investigation. On Aug. 9, AIPC said it had identified impairment charges and other adjustments that would be recorded in the company's financial statements. Since that time, AIPC has continued Continued on Page 8 AIPC to restate financials inside NOVEMBER 1, 2005 Story on Page 27 Auction set for Refco's futures business, J.C. Flowers withdraws NEW YORK - Judge Robert R. Drain of the U.S. Bankruptcy Court for the Southern District of New York on Oct. 25 scheduled a Nov. 9 auction that could decide the disposition of the futures brokerage business of Refco, Inc. Refco is a global diversified financial services organization and until recently the largest independent U.S. futures broker. The company and 23 affiliates filed for bankruptcy Oct. 17 shortly after Phillip R. Bennett, Refco's president and chief executive officer, was arrested and charged with securities fraud in connection with what prosecutors said was a scheme to hide $430 million in debt owed to Refco by a separate company Mr. Bennett controlled. The filing for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code was made in connection with a memorandum of Continued on Page 10 THIS WEEK Flowers Foods buys property from CHS 10 $ Thin lices to thicken profit Ingredient Earnings up 21% at Canada Bread 20 Cowles to head George Weston Bakeries 38 Week 39

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Milling & Baking News - November 1, 2005