John Tyson
John Tyson
accounting confidence forward issues management premier protein run satisfied together work
We are satisfied that IBP's accounting issues have been resolved, and have every confidence in (IBP's) management team, ... We look forward to their contribution as we work together to run the world's premier protein provider.
based best cannot company complete decision endorse facts felt interest simply today understand
We simply cannot endorse a decision to complete the transaction under the facts as we understand them today. My decision today was based on what I felt was in the best interest of our Company and its shareholders.
demand difficult domestic due short supply term
The short term will be difficult due to international demand and domestic supply issues.
anticipate based folks great guidance
Based on first-cut guidance from folks in Washington, we don't see it as an issue, ... There are a lot of other competitors out there... there are a lot of folks out there servicing the great American consumer. I don't anticipate any challenge, but that's to be seen.
agreement believe cannot enter foods induced intended merger perform tyson whether
Consequently, whether intended or not, we believe Tyson Foods Inc. was inappropriately induced to enter into the Merger Agreement, ... Further, we believe IBP cannot perform under the Merger Agreement.
beef chicken conditions early entered fiscal foods further knowing market operating pork prepared producing results segment solid struggled
We entered fiscal 2006 knowing market conditions would be difficult, especially early in the year. During the first quarter, our chicken segment generated solid results and prepared foods improved, while pork struggled and beef further deteriorated, producing significant operating losses.
challenges coming doubt faced optimistic people seen share strategy strong
Without a doubt, we faced our share of challenges in 2005, but we've also seen strong indicators that show our strategy is working. We're optimistic because we have the right strategy and the right people coming together.
allow beef believe case cash cattle consumers continue decisions efficient marketing prefer producers raising rather rewards sell thousands
Thousands of producers prefer to sell cattle through marketing agreements, rather than in the cash market. The decisions in this case allow them to continue this practice, which they believe is more efficient and rewards them for raising cattle that produce the beef consumers demand.
quarter second tougher
We said the second quarter would be very tough, and it was even tougher than we anticipated.
conditions difficult expected far tough uncertain
While we expected tough and uncertain conditions ... it has been far more difficult than we previously projected.
country hit outpouring people prayer region storm support
While the storm that hit this region was overwhelming, so has been the outpouring prayer and support from people around the country for those in need,
benefit bottom clearly execution expense focus fully guidance high improving management money performance previous sales simply
While our performance was at the high end of our previous guidance, we clearly did not perform to our potential, ... Our focus is on improving our operational execution and expense management to more fully benefit from our improving sales mix. We simply have to get more money to the bottom line.
appreciate concluded hard open operate past plants worked year
We've worked hard over the past year to try to keep these plants open and I appreciate everyone's efforts. However, we've concluded we can operate more efficiently by permanently consolidating operations.
balance step tough
We will get a seasonal balance come May, June. It is going to get better. We're in a tough curve, and that's why you'll see us going to step on the accelerator when we come out of that curve.