If you know of anyone who has lost a pet to the recent poison of menufoods please pass on this info, his name is Ted Charney his email is tedcharney@fcbarristers.com and his number is 416 964 3408 he is handling the case against these companies.
Lawsuit
- Thread starter shaneen
- Start date
While I am an animal lover (not THAT way you pervs) and would be devestated by the loss of my pet, I can see some sort of settlement being offerred but when you get a lawyer involved, I can see this company folding putting hundreds if not thousands of people out of work.
Should they be penalized? Sure, you bet.
Should they be driven under? Never.
If anything I think they should pay a large fine (100K +/-) and that money donated to local humane societies.
Should they be penalized? Sure, you bet.
Should they be driven under? Never.
If anything I think they should pay a large fine (100K +/-) and that money donated to local humane societies.
Agree but
Obviously they did not intentionally put poison in their product. The recall is costing them millions in destroyed product. Millions more in back charges from their customers. Return shipping charges and they can't produce this product till they definitely isolate the precises ingredient that caused the mess.
On top of that, they lost a customer base for that particular product for sure and that, now lack of trust, is going to spill over into their other products.
I've not seen their financial statements but I'd be surprised if this firm can survive.
As for lawsuits. Hope they had insurance.
tboy said:
Obviously they did not intentionally put poison in their product. The recall is costing them millions in destroyed product. Millions more in back charges from their customers. Return shipping charges and they can't produce this product till they definitely isolate the precises ingredient that caused the mess.
On top of that, they lost a customer base for that particular product for sure and that, now lack of trust, is going to spill over into their other products.
I've not seen their financial statements but I'd be surprised if this firm can survive.
As for lawsuits. Hope they had insurance.
And from what I heard Friday the poison may well have come in on wheat shipped from China.Trapdoor said:
It was annouced today that the lawsuit is for $100 million.
Like I said, I'm a animal lover and feel badly for all the owners whose family friends died because of this but 100 million? Jesus....another fine example of lawyering being totally different than common sense.
I mean compare this to medical malpractise: I've heard of wrongful death suits being settled for $500 K and that's when a person dies.......
If I was the judge for this case the first thing I'd do upon reading the amount would be to slap the lawyer with a $50 K stupidity penalty.
LOL found a 2003 financial statement: they only made $14 million in gross profit and $82 million in sales. This lawsuit is ludicrous.
Like I said, I'm a animal lover and feel badly for all the owners whose family friends died because of this but 100 million? Jesus....another fine example of lawyering being totally different than common sense.
I mean compare this to medical malpractise: I've heard of wrongful death suits being settled for $500 K and that's when a person dies.......
If I was the judge for this case the first thing I'd do upon reading the amount would be to slap the lawyer with a $50 K stupidity penalty.
LOL found a 2003 financial statement: they only made $14 million in gross profit and $82 million in sales. This lawsuit is ludicrous.
Here's the link to the statement I found. There may be more recent ones but I don't care enough to search that hard 
http://www.menufoods.com/financials/docs/Q1_2003.pdf
http://www.menufoods.com/financials/docs/Q1_2003.pdf
Thanks TBoy...
As a quick qualifier I did not read the notes which do form part of the statement. Also, this is a quarterly statement which is from 2003 so the current picture is not really known. Finally any contribution from one more qualified that I would always be appreciated.
OK. The quick and dirty.
Shows a net worth of 212 million, however, in the statement there is an amount of 165 million stated as Goodwill (this is an intangible and is always deducted from the worth because it basically is the amount that they feel someone would be willing to pay for name and reputation). Therefore realistic Net Worth is 47 million. Looks fairly good but they have about 42 million in inventory.
It comes down to what are the assets really worth after this situation. In a fire sale? Who knows but not a whole lot.
Hope this helps.
***********************tboy said:Here's the link to the statement I found. There may be more recent ones but I don't care enough to search that hard
http://www.menufoods.com/financials/docs/Q1_2003.pdf
As a quick qualifier I did not read the notes which do form part of the statement. Also, this is a quarterly statement which is from 2003 so the current picture is not really known. Finally any contribution from one more qualified that I would always be appreciated.
OK. The quick and dirty.
Shows a net worth of 212 million, however, in the statement there is an amount of 165 million stated as Goodwill (this is an intangible and is always deducted from the worth because it basically is the amount that they feel someone would be willing to pay for name and reputation). Therefore realistic Net Worth is 47 million. Looks fairly good but they have about 42 million in inventory.
It comes down to what are the assets really worth after this situation. In a fire sale? Who knows but not a whole lot.
Hope this helps.
