Dairy giant Borden files for bankruptcy protection
https://www.nytimes.com/2020/01/06/business/borden-milk-bankruptcy.htmlThe company, which is based in Dallas and reported $1.18 billion in sales in 2018, has been trying to adjust to those unfavorable trends but was hampered by debt, Borden’s chief executive, Tony Sarsam, said on Monday.
“The biggest cause, if you dial it back, is a circumstance where we have debt that is inappropriately sized for the company,” he said.
Executives at Borden, which employs 3,300 people, had been trying to renegotiate its debt agreements for months, Mr. Sarsam said, but filed for bankruptcy on Sunday after talks with lenders fell through.
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Very near and dear to my heart, and my adopted avatar, are her American cousins, the two Borden bovines, Elsie and Elmer.
Having learned of his fate, Elmer is not always as happy as he might otherwise be:
Alas, the leche was not always dulce. After doing their part in the war....
...Elsie eventually divorced him...
...and she launched a successful career as an "adult entertainer"...
https://en.wikipedia.org/wiki/Elsie_the_Cow
Elsie the Cow is a cartoon cow developed as a mascot for the Borden Dairy Company in 1936 to symbolize the "perfect dairy product". Since the demise of Borden in the mid-1990s the character has continued to be used in the same capacity for the company's partial successor, Eagle Brand, owned by The J.M. Smucker Company.
...
Elsie had a fictional, cartoon mate, Elmer the Bull, who was created in 1940 and lent to Borden's then chemical-division as the mascot for Elmer's Glue. The pair was given offspring Beulah and Beauregard in 1948, and twins Larabee and Lobelia in 1957.
