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A very special conference room for -- this week not just because we're wearing funny.
But because -- an iconic American company.
This is the Chelsea milling company.
And people know it maybe not -- Chelsea but they know what by the name of what you make.
Take a look at the box before you put -- and it can't be muffin mixes up America's most popular muffin mix and your grandmother and they.
She did not only did -- event.
That product but he -- the very first.
We feel prepared next -- period in -- -- in 1930 April of 1930 all purpose.
They keep me before that time -- people -- they think they've they've from scratch literally from Brad.
Now today's today's youth that's a thing under fifty -- set and next is from -- but that's not the case.
They think of this now is making it from scratch.
Right I want to show our viewers some of the process.
Take a look at that iconic jiffy corn muffin -- box.
1% of the market.
Important -- -- how does that happen.
Well I think their consumers appreciate what we do it that don't offer value and as a combination of the highest quality ingredients and the best price.
We talk about business and and the takeaways to our viewers.
You have a company.
That has been in business for a company.
And the thing about it is you've had many people from Wall Street come your way want to -- the company.
They would probably take it and they would.
A different look at at pricing.
You have always maintained if you wanna keep prices low you don't have a time.
Well the truth is that most people out there are working from paycheck to paycheck.
And that's the majority of America.
I think that they appreciate the fact that we offer a high quality product at a great price that would value it.
Somebody else would come in from Wall Street they would say first of all we got it we gotta start advertising this.
Why would you not do that.
We've run across that when we get -- board members outside board members say you know we need to -- and so -- and we've heard that -- many many times.
But the reason we know it because.
Number one people are youth who are low prices and effort to we will be.
Eroding one of the biggest advantages we have and that's the difference in price between ourselves.
And -- alternative.
Despite not spending any money on advertising.
You pay your workers here and you've got -- factory one factory about 300 people.
The people at work here -- better wages than they would get elsewhere.
Well you know what people deserve to be paid well.
We expect a lot from our employees.
We we offer.
A great environment safe environment and learning environment and you know way we compensate them I think fairly.
We expect them you know participate.
Life is that a spectator sport down so.
You need to get that game.
That other people look at say how you do that they -- everything now.
For example putting this -- -- box would be done by another company.
We do everything yourself it's called vertical integration and yet that's another advantage we have.
Because anytime you.
You outsource something.
There's a profit number that doesn't get.
Calculated so you know we make our own boxes weights are all we -- we've yellow flower.
Girl packaging girl next thing we do all logistics and every one of them.
Those departments if you will you know we can save the consumer money pass those savings on to them.
Is that this fall when this vertical integration first you know -- every -- of what your your vision.
We've got obviously going from.
-- the other way.
American visits to think about -- won back to that model.
I I think that there was nothing wrong with the model I think we're.
Were always in a hurry to change things and if something were recognize that you shouldn't -- unique abolish the system.
Or the process from time to time but it will -- leave -- alone after all businesses.
Need -- people that are complicated.
I before we get away -- the last -- I have.
What you shared about what you think this economy is gonna look like going forward.
-- in a slow growth phase right now.
It is temporary is as long.
I don't think it's temporary Jeff I think that this is the new normal.
-- a difficult adjustment for a lot of people especially when things.
Everybody's network -- 3540%.
And and everyone that.
You know leverage that they -- so that first five or six years it is kind of get yourself back at your feet and I just don't think that.
Well is that it be measured in the terms and calibrated the way we used to I think this is the new normal.
Companies like -- perhaps that have always focused on value.
Maybe sit in -- good spot.
And you know they see they.
But this is one of the very few things very few items.
And -- and a and a personal but if your mortgage.
Up land that.
You don't get a break and that they don't change your car payment all -- -- don't think -- -- But what you budget for food is flexible.
If you eat out it's gonna cost you a whole lot more.
-- eat at home.
You can stretch that food but -- a lot so it's it's beneficial.
Not only for the people that -- -- Products that are -- at home but it's not a bad -- -- -- -- to get the family back together I think that's the real important thing.
Well you have 91% of the share of the corn muffin mix market.
If you're -- more successful I don't know -- he -- up last night.
It's out there -- who work on the howdy Holmes and a very special conference room here on the Fox Business Network with the -- --
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