Originally posted at OCM
Hugh Grant – Monsanto Chairman, CEO, and President – probably won’t notice the increased price of a loaf of bread. And if he does it will be with a smile. Grant is $13,000,000 and some change wealthier today than he was on Monday, as he choose to exercise stock options – 116,000 shares worth – that netted him a profit of over $114 PER SHARE.
Like many of us, I wouldn’t mind paying the extra dollar per loaf of bread if I knew the majority of that dollar was going back into the hands of farmers. Instead, the higher prices at the checkout line are funneled to the agri-giants like Monsanto and Cargill, companies making record profits. Remind you of gas prices and oil companies? Reminds me that these agri-giants spent $100 million on getting their way in the Farm Bill, an investment with huge dividends – for Monsanto’s Hugh Grant anyway.