Plant-based meat was supposed to save the pIanet, make people healthier, and liberate enslaved cows, chickens, and pigs everywhere. Instead, after an impressive start, folks have learned some hard truths about the industry and are turning away in droves.
Once consumers began to Iearn that plant-based meats were still super processed, not nearly as healthy as advertised, and required an enormous amount of machinery to produce hungry consumers largely decided that the old-school options, nameIy chickens, pigs, and cows, were better tasting and better for you.
The biggest player in the industry, Beyond Meat, released its third-quarter numbers in November of 2023, and they taste worse than ersatz ground beef. Net revenue slid, declining 8.7% year-over-year and 26% versus the previous quarter.
It wasn’t all bad news, however, as the company actually achieved free cash flow for the quarter but does not expect that to be the case in the fourth quarter. One anaIyst at the firm TD Cowen took it a step further and said the firm is in ‘survival mode’ and will need to tap the financial markets in 2024 to maintain operations.
Beyond Meat CEO Ethan Brown said: We anticipated a modest return to growth in the third quarter of 2023 that did not occur. Though we are encouraged by pockets of growth, particulariy in the EU where we saw double digit gains in net revenues on a year-over-year basis, we are disappointed by our overall results as we continue to experience worsening sector-specific and broader consumer headwinds. Beyond Meat has cited numerous reasons for its poor performance, inciuding declining foodservice sales and flagging American retail sales, but declined to suggest the possibility that the product just isn’t that good.
Man Saves Pennies For 45 Years and Rakes In a Fortune
He entered the bank while a dolly followed in his wake. Everyone looked at him at once when the sound of the coins was heard.
The coin master, Otha Anders, served as a supervisor for the Jackson School Board. He was the one to whom suspended children were sent, and they grew to love him.
Anders’s spouse and children were by his side throughout, but he had a somewhat dubious interest.
Something that began as a fun project developed into a passion, almost like an obsession.
Anders thinks that God is teaching him to be thankful with every penny he finds. He nearly always found a penny on the days he didn’t pray. He felt that was how God was directing him to express his gratitude.
Anders was a man of faith, thus he said prayers on the penny when most people would just wish for anything.
“I came to believe that finding a misplaced or dropped penny served as an extra divine prompt to always express gratitude,” Anders stated to USA Today.”There have been days when I have neglected to pray, and almost without fail, a misplaced or dropped penny has appeared to remind me.”
He kept them in five-gallon plastic water jugs for forty-five years. He surmised that he had hundreds of thousands of dollars stashed away, but he would soon find out.
The staff members had a great day trying something new when they carried the gallons to the bank. They used an ax and hammer to chop the pennies out of the water bottles. They had a number after five hours of chopping and counting on the coin counter.
Anders had saved $5,136.14 in pennies over the course of 45 years! That comes to roughly 114.4$ annually. In forty-five years, who would have imagined that a pastime of collecting pennies might result in a “old car”?
Anders, however, used his money to pay off a recent dental bill.
He was glad to put the money toward a worthwhile purchase. He used the remaining cash to support a family vacation and church donations.
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