Kilroy Was Here
February 06, 2003
Corporate Weasel Watch: Tyson Foods
The NY Times today has a story on Tyson Foods. Tyson is believed to have smuggled illegal immigrants into US in order to suppress worker wages.
The government, which presented its opening argument in Federal District Court in its case against Tyson, also accused the company of flouting immigration laws by helping illegal immigrants to obtain false identification documents like Social Security cards and driver's licenses and by hiring a large number of the immigrants from temporary employment agencies to bypass the Immigration and Naturalization Service's electronic employee eligibility database.
According to Tyson's 2002 annual report, Tyson had approximately $1.8 billion in gross profit and $355 milliion in net income, it's best year in the last 10 by far.
John Tyson, Chariman and CEO of Tyson foods, made $1 million in salary, $3.5 million in bonus, and another $3.1 million in stock, options, and perks. You think an man who made nearly $8 million dollars last year alone wouldn't have to go to such lengths to keep the men and women of his company from making an addition $2 an hour.
To quote the prosecuting attorney for this case:
"This trial is about corporate greed," said John P. MacCoon, an assistant United States attorney. "It's about what happens when a corrupt corporate culture makes the bottom line the all-consuming priority."
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