Skip to comments.Jobs Bill as Poultry Bailout
Posted on 02/11/2010 10:29:23 AM PST by Cheap_Hessian
While the Democratic Jobs Bill in the Senate is not yet in a final form, the 362 page draft is chock full of interesting items, like emergency loans for what looks to be chicken farmers who worked with one specific poultry company that went into bankruptcy in late 2008.
On page 139 of the draft document, it lays out who would be eligible for "Emergency Loans For Poultry Producers" and specifies a "poultry integrator" that filed for bankruptcy "during the 30-day period beginning on December 1, 2008."
The bill makes available $75 million "for the cost of making no-interest emergency loans available to poultry producers that meet the requirements of this subsection."
So what company would this involve?
A tip of the hat goes to one of my listeners, who heard me talking about this on the Neal Boortz Show, as John Cunningham suggested that the poultry company involved might be Pilgrim's Pride.
A quick Google search confirmed exactly that, with a bankruptcy story from the Associated Press dated December 1, 2008 - the date used in the bill under this emergency loans for poultry producers section.
"Pilgrim's Pride Corp., the nation's largest chicken producer, filed for Chapter 11 bankruptcy protection on Monday," read the lead paragraph of the 12/1/2008 story.
(Excerpt) Read more at wsbradio.com ...
It’s a national security issue. You wouldn’t understand.
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