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Author: wealthdivawannab Big red star, 1000 posts Old School Fool Ticker Guide CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 255  
Subject: Hometown shareholders vent bitterness overchange Date: 4/18/2007 9:26 AM
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We visited Hershey, PA last summer because my oldest child has begged to go there for years. He insists he plans to be the President of a chocolate company some day. He just might. I've volunteered to be his number one candy sampler to test for quality control once he launches:-)

It really is a neat place to visit, and I can really picture all of this being described in the full article since I've recently been there. Chocolate Avenue is neat and you really can smell chocolate in the air. We enjoyed learning about Milton Hershey himself and what an extremely "giving" person he was--especially the wonderful homes provided for kids. He and his wife were wealthy, but could never have kids of their own. This inspired them to start a school for orphaned boys (because girls were usually adopted, but boys were not at that time). They positively influenced a lot of lives and continue to (though the school now is for boys and girls--not sure if they are all orphans these days).

I've been watching the stock for a while and pulled the trigger once it was discussed on the BMW boards, especially since I knew this is one my kids would enjoy following with me. The Easter Bunny brought all Hershey products and this pleased them immensely. My youngest thought our stock would go up if the Easter Bunny bought that much for all the kids.

Per the article, change is hard and these look to be some really major changes (CEO from outside Hershey for first time, job cuts in Hershey (PA), building overseas plants (in Mexico, India, China). Hopefully it will lead to good things and not destroy the neat legacy we found there last summer. Thanks for letting me ramble this morning.

The chairman and chief executive of The Hershey Co. faced shareholders for the first time Tuesday since announcing hometown job cuts and a major overseas expansion, and insisted to a divided audience that he was doing the right thing for the company.

More than a thousand people attended the annual meeting of the largest U.S. candymaker, and a few took the microphone during a question-and-answer session to vent anger over what they say is the opposite path founder Milton S. Hershey would have taken.

At the heart of the job cuts in Hershey - 900 total at three hometown plants - is a shift in production to developing countries where the company hopes to capitalize on cheaper labor and materials and sell more candy to booming populations of young people.

Hershey is planning to build a new plant in Monterrey, Mexico, and has announced joint ventures to make its candy in India and China. Hershey also said it will close a plant in Smiths Falls, Ontario....


http://money.aol.com/news/articles/_a/hometown-shareholders-vent-bitterness/n20070417171209990041

JB
who needs another vacation!
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