BYND'S Problems grow
In our very first SHORT deck on BYND in February 2020, we questioned the company's product's health benefits.
Three consumers have filed a putative class action against alternative-meat manufacturer Beyond Meat, Inc., alleging the company misled consumers regarding the amount of protein in its products. Garcia v. Beyond Meat, Inc., No. 22-297 (S.D. Iowa, filed on September 9, 2022). The plaintiffs—who live in Colorado, Iowa, and Florida—allege they relied on representations regarding the percent daily value of protein in the products and labeling stating the amount of protein contained in them. They assert that Beyond Meat products’ stated protein amount and percent daily value claims are false and misleading and that they chose to pay a premium price for the product based on the company’s representations. “Simply put, Defendant’s protein amount and/or protein DV% for the Products are a farce,” the plaintiffs assert in the complaint. “Defendant knowingly prepared the material on their website and product labels to misrepresent the true protein amount and/or protein DV% for the Products.” For alleged violations of state consumer fraud acts and the Magnuson-Moss Warranty Act, breach of express and implied warranty, and unjust enrichment, the plaintiffs seek class certification, declaratory judgment, damages, prejudgment interest, restitution, injunctive relief, attorneys’ fees, and expenses. The suit follows two other suits filed in May and June, which make similar claims. On top of this, Beyond Meat Inc.'s chief supply chain officer is stepping down at the end of the month, which does not bode well for the company trying to ramp up its supply chain. Last Tuesday, the company suspended Doug Ramsey, its chief operating officer, following Mr. Ramsey's arrest in connection with what local authorities said was a fight in an Arkansas parking garage. Mr. Ramsey was arrested after a physical altercation in which he allegedly bit a person's nose and threatened to kill him, according to a police report and county records. days.
Can you tell the difference between the dog food and BYND/Impossible labels?
Howard didn't stop the momentum
A Montrose-area Starbucks has become the first location in Houston to unionize.
In an 11-3 vote, workers at the Starbucks on South Shepherd near West Alabama voted to form a union on Thursday. Employee Madeline Gierkey said they were motivated to stand up for workers’ rights. “We know that we are valuable as workers, and we respect each other, and we just fought a hard fight together, and we know what we deserve,” Gierkey said. “But I do think there are many people out there too who are united in their struggles but just aren’t vocal about it.” Houstonpublicmedia
MCD
The company said last week that Japan's McDonald's fast food restaurants will raise prices on about 60% of its offerings to customers, fuelled by rising input costs and exchange-rate fluctuations. It marks the company's second set of price increases this year as Japan grapples with inflationary pressures and a slide in the yen to a 24-year-low, making imported ingredients more expensive. The two rounds of hikes this year are the first since 2019. The cost of the signature Big Mac hamburger will increase to 410 yen ($2.85) from 390 yen, McDonald's Holding Company Japan Ltd said in a statement, reflecting increases of 10 to 30 yen on many items. McDonald's Japan is raising prices for the second time in 2022 on its cheeseburgers, which will cost 180 yen each from Friday from 140 at the beginning of the year. According to a survey issued by Tokyo Shoko Research, rising production costs and the yen's slide have spurred price increases by 60% of major Japanese restaurants.
