Cargill’s recent move to eliminate 2,000 jobs follows a pattern of “bearishness” that makes it stand out in the commodities trading sector,
a
Financial Times
article noted.
The report said Cargill “was the first big trading house to warn about the economic slowdown.” Glencore and Noble Group, other major commodities traders, are “painting a much rosier outlook” of their businesses and the global economy, the
FT
report said.
[I]t is worth noting that Cargill is a privately owned company — still controlled by the MacMillan and Cargill families, descendants of the founders who set up the group in 1865 — so it does not feel obliged to put as brave a face on in a bad economic environment as its publicly listed rivals.
(Source:
Financial Times,
Dec. 5, 2011.)
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