Word: beefing
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...keeping with the Lone Star State's reputation for independence, a Texan aims to strike a separate peace in the beef war between the U.S. and the European Community. Because most American feedlot operators hasten cattle growth with hormones, the E.C. has banned more than $100 million of U.S. meat imports. Washington has retaliated by slapping 100% tariffs on $100 million of annual European food imports. But last week Texas Agriculture Commissioner Jim Hightower, declaring it was time "to cut the bureaucratic crap," proposed a way to provide hormone-free exports to Europe...
Critics swiftly broiled Hightower's plan, which calls for greater use of natural production systems. Reason: hormone-free feeding could add more than 15% to the cost of beef...
Nonetheless, Japan has made solid progress in overhauling its economy to help ease the trade imbalance. The country is phasing out protectionist quotas on U.S. beef and citrus products, for example, and has opened its construction market to foreign bidders. Japan imported 48% more U.S.-made computers and office equipment in 1988 than in the previous year, and 55% more semiconductors and telecommunications equipment. "A massive structural change has taken place in the Japanese economy," says economist Noriko Hama of the Mitsubishi Research Institute. "We are much more import-oriented than we were a couple of years...
...roast-beef dinner with the residents and then joined in an informal discussion focusing mainly on ethics...
...acquiring some of Holly Farms' juicy parts. Omaha-based ConAgra, the No. 2 grower, agreed on a so-called lockup arrangement in which the Nebraska firm can buy some of Holly Farms' operations if the marauding Tyson succeeds in taking over. ConAgra, which already controls 20% of the U.S. beef industry, 33% of the lamb market and nearly 10% of broiler production, would like to bring Holly Farms' Weaver frozen-chicken label into the same shed with its Armour, Banquet and Country Pride brands. Tyson is now suing both companies in an attempt to overturn the lockup deal. Both Tyson...