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Actually makes a very important point these are big corporate farms and endless if you listen to Craig Barrett who used to run Intel he said eight years ago get rid of the farm subsidies and subsidize engineering students in America so we could create jobs.
Organic farms get more federal subsidies and conventional farm so let's ask one of -- biggest names in organic foods.
How he would cope if those programs are chopped here in a fox this -- -- -- -- answer may surprise you Irwin Simon.
The founder and CEO pain Celeste you know who -- just happens to be climbing more than 14%.
Year over year.
Do think -- subsidies are necessary.
The first thought open much of course today and I cannot make -- -- -- -- not gonna -- right listen.
Is they said a lot of the bigger firms are getting the subsidies.
I happen to think organic farming is so important organic crop -- so important so I'm in favor.
Organic farmers getting subsidies.
And I think we need more a more organic product so there -- more more Danny graves and you know.
Prices -- getting ten to 15% higher I'd love to see organic -- products power with conventional products.
But prices of everything going higher court right now.
Skyrocketing so so do you think we need to get rid of those subsidies for the big corporate -- this is taxpayer money I know your free market higher one.
There's -- woman who is let's come back and look at -- this -- number one.
There's a problem with ethanol in regards to corn prices okay -- be the other thing is -- per week is there a lot of these hedge funds out there today how much hedge.
Is in grains and crops in commodities speculation he is speculation and and with that you know.
But let's wait a little while but how much fuel all of sudden you know we have all this abundance of fuel out there are we gonna have all -- abundance of corner they're not just.
Now that's a good question and and you know Howard Schultz he's he's absolutely with you -- -- speculators are jacking up the price of coffee but let's bring it back -- -- You use a voluminous amount of organic product and and how closely are you watching these prices and will you have to raise your prices I know in the past couple of years you have here -- there.
More price hikes to come.
Well we just took a 5% price increase and you know it's hard to take a prop up price increase -- You know you hate pass on these higher prices but they're being passed on -- -- and they're being passed us -- us immediately where takes us you know 45 months past month.
But you know fuel is a big driver because there's so many ingredients -- that are delivered there's packaging that is -- -- Fuel and by the way on on our table here.
Are many of your products you do terra chips -- best.
And right streams -- -- -- season dollar personal care what brought their their packaging with a personal care exactly this is an nothing that has plastic and it has petroleum news.
You there's no arrogance no chemicals and I and I think come coming back for secondly is the American consumer today is being educated more more about healthy products okay.
And you know with fuel prices moving the way they are more more consumers are staying at home and eating.
And you know I'm seeing are chicken category which were an antibiotic free organic chicken -- grown adult digits consumer you a lot less red meat.
Because of the costs to you know keep -- -- -- consumers -- or are strapped at the moment.
-- consumers see that translated your bottom line where they say wait a minute I can't shop at whole paycheck I mean whole foods.
You know -- and of course you're one of their biggest its shelf -- listen consumers are strapped on the other hand.
Our average cost of a product today is three dollars and fifty cents you know I'm not selling Hermes bags or coach -- or whatever I'm selling good quality foods.
-- -- -- -- We're all concerned about our health we're all concerned about our children's health you know with first best -- food we feed.
You know we some 94 million jars of baby food a year you're introducing infants and toddlers to their first food you know there's no -- there's no BP A -- regards the glass jurors is not leaving any toxins so -- it's important.
All I gave to my kids I was so any -- to fight me into -- automated -- careful.
-- -- somebody else aside from everybody -- jacking up your stock disinterested Carl Icahn.
Is upping his stake.
-- what does that -- nervous I think I talked to CEOs -- when they find out they're sitting at his table at a charity event -- to be moved because they don't want him looking at their stock because -- -- -- to be.
A vocal and active shareholder and sometimes that isn't in the best interest at least for the CE up.
So first of all number when you got to have confidence -- cocky confidence what you do and and I absolutely do that you know Carlton shareholder now for a year.
And he's done well what does he want to do with your company I don't know and I would sit at his table at a charity benefit.
Then I would have dinner with him so think -- don't fear Carl Icahn getting involved in -- you know what I don't fear -- like I'm getting involved McCain and I you know every shareholder should be treated equal and it's my job to do good job for shareholders -- good grief and made good return for shareholders.
And that's what we're doing right now -- -- so Canadian.
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Coli scares all that are effective thank you -- -- -- listen.
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