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The Cows Are Coming Home -- Milk Scandal
Now that some of the dust is settling in the latest food scandal to come out of China, the early reports on financial loss are being counted. The false economy of contaminating cows' milk with toxic materials has sickened and killed thousands of children. Now that the light of day has been focussed on these criminals, the costs associated with recalling products made from the poisoned milk are mounting.
SHANGHAI, Oct 14 (Reuters) - Two major dairy firms, Inner Mongolia Yili Industrial Group (600887.SS: Quote, Profile, Research, Stock Buzz) and Bright Dairy Group (600597.SS: Quote, Profile, Research, Stock Buzz), estimated on Tuesday they would post third-quarter net losses because of China's scandal over contaminated milk.
In brief statements to the Shanghai Stock Exchange, the companies did not give specific figures. They are due to make full third-quarter earnings reports late this month.
For a comprehensive listing of recalled products, check out the Now Public Health site under the tag Milk Scandal.
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Barbara McPherson
Nanaimo, Canada



Most RecentMost Recommended Comments (2)
at 18:39 on October 13th, 2008
Barbara McPherson, I like this story. It's good stuff. It will be interesting to see what those third-quarter reports say.
at 22:59 on October 13th, 2008
Barbara McPherson, I like this story. It's good stuff.