Food Business News - Feb 05, 2008 - (Page 1)

FoodBusinessNews ® NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY February 5, 2008 Witnesses: Broken F.D.A. puts public at risk P&G to split off Folgers business 10 Witnesses assert agency can't improve without significant additional funding WASHINGTON - A battery of Inn Innovation witnesses on Jan. 29 testified improves Kraft's before a congressional commitim sales volume sa tee asserting the Food and Drug 18 Sustainability gains momentum 26 MARKET WATCH Food grains price index (prices received by farmers) 261 244 1990-92=100 Jan. 2008 Dec. 2007 June 2007 Jan. 2007 Jan. 206 167 152 117 Source: U.S. Department of Agriculture Prices received for food grains were up 72% from a year ago. Administration lacked the resources and capacity to ensure the safety of the nation's food and drug supply and that as a result the American public has been put at risk. The hearing was convened by the House Committee on Energy and Commerce's subcommittee on oversight and investigation under the chairmanship of Representative Bart Stupak of Michigan. Five of the witnesses presenting testimony were members of a subcommittee of the F.D.A. Science Board established at the direction of Commissioner Andrew C. von Eschenbach in December 2006 to identify scientific and technological capacities the F.D.A. requires to fully support its core functions. The subcommittee's findings were presented in its report, "F.D.A. Science and Mission at Risk," in December 2007. Dr. Gail H. Cassell, vice-president, scientific affairs, Eli Lilly and Co., Indianapolis, who is a member of the F.D.A. Science Continued on Page 25 Judge gives Interstate Bakeries nod to seek plan approval KANSAS CITY - At a Jan. 29 hearing, Judge Jerry Venters said Interstate Bakeries Corp. (I.B.C.) may seek creditor approval for the company's reorgani- zation plan. If I.B.C. is successful, it could seek confirmation of its plan in six weeks. With the International Brotherhood of Teamsters still opposing the plan, uncertainty continued to surround the outlook for I.B.C. Still, more than three years into the bankruptcy case, Judge Venters expressed the view I.B.C. should have the chance to gain approval for its plan. "We need to move this case along and find out if this plan works," he said. "And if not, we'll go from there." Under the plan, Silver Point Finance Continued on Page 24

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Food Business News - Feb 05, 2008