Monday, February 25, 2013

Attention McCormick spice company. Didn’t anyone ever tell you? The only smell that interests investors is the smell of money.

The following is lifted from a press release issued by PR Newswire:

SPARKS, Md., Feb. 19, 2013 /PRNewswire/ -- McCormick & Company, Incorporated (MKC) , a global leader in flavor, announced the publication of its blackberry and clove scented 2012 annual report.
Over the years, investors have been led to McCormick (MKC)'s annual report by following the aroma of nutmeg, cardamom and cinnamon, among others.  McCormick (MKC) produces the only scented annual report and has been doing so for more than 30 years.  The new report is entitled "Flavored for Global Growth."
Blackberry and clove come from the company's newest global Flavor Forecast®.  The rich fruitiness of the blackberry balances pleasantly with the sweet aroma of cloves – a delightful paring of fruit and spice.  Since 2000, McCormick (MKC) has been at the forefront of identifying emerging trends with a focus on flavor through the Flavor Forecast.

As of 10:13 the morning this was posted, despite a generally upward stock market trend, McCormick was down $7 a share.

Meanwhile, the company's most recent proxy statement revealed that the Board of Directors had increased the total compensation of Alan D. Wilson, Chairman, President and Chief Executive Officer, from $7.76 millionin 2011 to $9.5 million in 2012.

Whaddya wanna bet the money he crammed into his bank account smelled like money, not a rich fruity blackberry balanced with the sweet aroma of cloves?

1 comment:

Patricia said...

I can't help but wonder, what workers McCormick is exploiting globally? There's been a lot of mischief and mayhem associated with the spice trade. Just another reason not to let the McCormick brand darken my spice shelf. Their stuff is overpriced anyway.