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Department of Justice Intensifies Antitrust Investigation into Monsanto

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grantcart Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-14-10 06:52 PM
Original message
Department of Justice Intensifies Antitrust Investigation into Monsanto
Previous thread outlining DOJ preparation of anti trust investigation of Monsant: http://journals.democraticunderground.com/grantcart/206

Upon news that the DOJ was stepping up their investigation Monsanto stocks fell 1.38% today.





Feds Step Up Antitrust Investigation Into Monsanto



http://www.npr.org/templates/story/story.php?storyId=122577070



The Justice Department has intensified its antitrust investigation into Monsanto Co., demanding internal documents that outline marketing tactics of the world's biggest seed company.


The demand, disclosed Thursday by Monsanto, formalizes a months long investigation into possible antitrust violations at the company, which has gained unprecedented power in the multibillion market for biotech seeds. It has already provided millions of pages of documents to the department and is cooperating with the agency's civil probe, spokesman Lee Quarles said Thursday.

The government asked this week for information on Monsanto's biotech soybean business, Quarles said. Monsanto's patented genes are inserted into roughly 95 percent of all soybeans and 80 percent of all corn grown in the U.S.

The government is examining whether farmers and seed companies will have access to Monsanto's popular Roundup Ready soybeans after the seeds' patent expires in 2014. The company is trying to shift customers to the next generation of patented soybeans, but said in a statement it will grant full access to the current variety even after the patent expires.

snip

Last month, an Associated Press investigation uncovered contracts showing that Monsanto's business practices squeeze competitors, control smaller seed companies and protect its dominance over the genetically altered crops market.

One contract clause, for example, bans independent companies from breeding plants that contain both Monsanto's genes and the genes of any of its competitors, unless Monsanto gives prior written permission. That could let Monsanto effectively lock out competitors from inserting their patented traits into the vast share of U.S. crops that already contain Monsanto's genes.




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peacebird Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-14-10 06:56 PM
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1. enthusiastic and hopeful K&R!
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gateley Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-14-10 07:00 PM
Response to Reply #1
3. What peacebird said +1. nt
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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-14-10 06:57 PM
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2. Good. How many thousands, probably millions, of deaths is Monsanto responsible for?
Edited on Thu Jan-14-10 06:58 PM by marmar
May it :nuke:
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grantcart Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-14-10 07:52 PM
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4. . . .
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grantcart Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-14-10 10:08 PM
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5. . .
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Wilms Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-14-10 10:17 PM
Response to Reply #5
6. .
yep

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cliffordu Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-14-10 11:38 PM
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7. K&R - I know I'm risking the ire of the haters and the
phonied up activists....but I'll kick it anyway .

Fuck Monsanto.
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