What do you get when you cross Chiquita Bananas with Irish fruit firm Fyffes? How about the largest banana company in the world. Not the punch line you were hoping for, eh? Well neither was I. The two companies combined sell about 180 million boxes of the stuff and chomp off about 15% of the market share of bananas. But this little merger is a very big deal because to some it raises concerns over competition and fair-trade. “The banana market is dysfunctional and this merger feels like further proof,” said Michael Gidney, chief executive of British charity The Fairtrade Foundation. No, I did not make up that quote – I couldn’t even if I tried.
Who wouldn’t love to devour a hot steaming Sbarro pizza right about now? Apparently a lot of you since the company is filing for bankruptcy. Again. In three years. Yes you might be spending your time and money at the mall, you’re just not spending it in Sbarro. 155 locations are set to bake their last pie. This means that a Sbarro near you might be finito. Or not. There’ll still be some 800 other locations open worldwide.
Would you like some fries with those bad sales?
This meal’s not looking too happy. America’s largest fast food chain, McDonald’s isn’t serving as many people as it would like and now it’s choking down a fourth straight quarter of losses. McDonald’s used the wildly popular bad weather excuse as one of the factors affecting sales in its 14,200 stores. They also cited “challenging industry dynamics” which is just top secret fast-food code for “the competition is making better stuff to eat.” All this competition is taking a big bite out of their golden arches. But they’ve got plans – big plans -to win you back, like customizing your burger and caffeinating you with some premium coffee.