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129-532: The Archer-Daniels-Midland Company , commonly known as ADM , is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois . The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in food , beverage , nutraceutical , industrial , and animal feed markets worldwide. ADM ranked No. 35 in

258-532: A Germany -based grain trading firm. In 1989, ADM purchased Collingwood Grain Inc. based in Hutchinson Kansas, adding 48 million bushels of grain storage at 36 terminal elevators. Dwayne Andreas stepped down from his position as CEO in 1997 and was succeeded by his nephew G. Allen Andreas. The transition occurred a year after the company pleaded guilty to price-fixing . In 2001, Paul B. Mulhollem became

387-732: A Cuban airport would violate this transaction law, it is effectively impossible for ordinary tourists to visit Cuba without breaking the monetary transaction rule. The embargo was reinforced in October 1992 by the Cuban Democracy Act and in 1996 by the Cuban Liberty and Democracy Solidarity Act (known as the Helms–Burton Act ) which penalizes foreign companies that do business in Cuba by preventing them from doing business in

516-460: A Cuban prison after being accused of subversion while on a mission to bring internet services to Jewish community groups in Cuba, for the three remaining members of the Cuban Five . Cuba also agreed to release 53 political prisoners and to allow Red Cross and UN human-rights investigators access. President Obama and Cuban President Raúl Castro met on April 11, 2015, the first meeting between

645-760: A better deal. The second wave of nationalizations prompted the Eisenhower administration, in one of its last actions, to sever all diplomatic relations with Cuba in January 1961. The U.S. partial trade embargo with Cuba continued under the Trading with the Enemy Act of 1917 . According to 2009 article in the Inter-American Law Review, the Cuban government's nationalization of U.S. owned property

774-456: A class action antitrust suit. The Informant is a nonfiction thriller book based on this event, which was later adapted into the 2009 film The Informant! . A noteworthy case of transfer mispricing came to light in 2011 in Argentina involving the world's four largest grain traders: ADM, Bunge , Cargill and LDC . Argentina's revenue and customs service began an investigation into

903-432: A consensus recommendation. The company moved its headquarters to Chicago in 2014. That same year, ADM completed its acquisition of Toepfer International , Germany's largest grain trader, and renamed the company ADM Germany GmbH. The company also announced that it would buy Swiss-German natural ingredient company Wild Flavors for $ 3 billion, a move aimed at expanding ADM into health-oriented food sectors. ADM announced

1032-774: A few may cause problems for some individuals, including sulfites, artificial sweeteners, artificial colors and flavors, sodium nitrate, BHA and BHT, olestra, caffeine and monosodium glutamate — a flavor enhancer. When designing processes for the food industry the following performance parameters may be taken into account: Food processing industries and practices include the following: United States embargo against Cuba The United States embargo against Cuba has prevented U.S. businesses from conducting trade or commerce with Cuban interests since 1958. Modern diplomatic relations are cold , stemming from historic conflict and divergent political ideologies. U.S. economic sanctions against Cuba are comprehensive and impact all sectors of

1161-447: A hermetic bottling technique that would preserve food for French troops which ultimately contributed to the development of tinning, and subsequently canning by Peter Durand in 1810. Although initially expensive and somewhat hazardous due to the lead used in cans, canned goods would later become a staple around the world. Pasteurization , discovered by Louis Pasteur in 1864, improved the quality and safety of preserved foods and introduced

1290-490: A large profit potential exists for the manufacturers and suppliers of processed food products. Individuals may see a benefit in convenience , but rarely see any direct financial cost benefit in using processed food as compared to home preparation. Processed food freed people from the large amount of time involved in preparing and cooking "natural" unprocessed foods. The increase in free time allows people much more choice in life style than previously allowed. In many families

1419-590: A larger project, the Illinois Industrial Carbon Capture and Storage Project (IL-CCS), which again involved injecting carbon into Mount Simon Sandstone, but this time at a different location and at a much higher volume. Whereas the first project involved injecting one million tons of carbon underground over three years, the IL-CCS project involved storing that same amount in only one year. The Department of Energy contributed $ 141 million to

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1548-650: A linseed crushing business in Minneapolis, Minnesota . George A. Archer joined the operation the next year, and in 1905 the firm's name officially became the Archer-Daniels Linseed Company. In 1923, Archer-Daniels Linseed Company acquired Midland Linseed Products Company and then incorporated as the Archer Daniels Midland Company. The new corporation had total assets exceeding $ 11 million and controlled just over

1677-477: A location closer to the company's soybean processing operations. At this time, it was already considered one of the world's largest agribusiness company, with a labor force of more than 24,000 employees. Dwayne Andreas was named CEO of ADM in 1970, and two years later was elected chairman of the company's board. Under his leadership, Archer Daniels Midland acquired many smaller agricultural companies and expanded into international markets, eventually becoming one of

1806-444: A partnership on regenerative agriculture projects that would increase the practice across their North American supply chains and help the companies meet carbon reduction goals. In July 2023, ADM launched an expansion of the program, which offers producers financial incentives and technical support to implement regenerative practices. As of December 2023, the company had allocated nearly 2 million acres of land within its supply chain for

1935-530: A philosophical or moral character." In 2002, the Cuba Policy Foundation estimated that the embargo costs the U.S. economy $ 3.6 billion per year in economic output. In 2007, the U.S. Commerce's Bureau of Industry and Security (BIS) has become more lenient with some of the sanctions imposed upon Cuba by introducing new streamlined procedures to expedite processing of license applications for exporting eligible agricultural commodities to Cuba. As

2064-414: A request made by the U.S. House of Representatives , the total value of U.S. exports of selected agricultural products, intermediate goods, and manufactured goods to Cuba in the absence of U.S. sanctions was estimated to be at $ 146 and $ 658 million for U.S. imports from Cuba between 1996 and 1998. According to a 2000 research paper by Jorge Antonio, a professor of political economy, the economic effects of

2193-480: A result of the embargo, but instead the lack of foreign currency due to the unwillingness of Cuba to liberalize its economy and diversify its export base during the years of abundant Soviet aid. Cuba also amassed substantial debts owed to its Japanese, European, and Latin American trading partners during the years of abundant Soviet aid. According to a 2001 U.S. International Trade Commission report in response to

2322-412: A result, annual U.S. exports to Cuba have risen from $ 6 million to about $ 350 million between 2000 and 2006. Over this period, U.S. exports to Cuba have totaled more than $ 1.5 billion. As of 2006, agricultural products comprised 98% of total U.S. exports to Cuba. In 2009, the U.S. Chamber of Commerce estimated that the embargo costs the U.S. economy $ 1.2 billion per year in lost sales and exports, while

2451-574: A saline reservoir. This project was carried out by the Midwest Geological Sequestration Consortium at the University of Illinois. The Department of Energy provided $ 66.7 million in funding, with other funding coming from private partners. After three years of injection, it was determined that the sandstone was accepting CO 2 in an easier fashion than was originally expected. In 2017, operations began on

2580-457: A study published in " Food & Nutrition Research " in 2010, meaning more of their food energy content is retained within the body. Processed foods also tend to be more allergenic than whole foods, according to a June 2004 "Current Opinion in Allergy and Clinical Immunology" article. Although the preservatives and other food additives used in many processed foods are generally recognized as safe,

2709-624: A study published in " The American Journal of Clinical Nutrition " in December 2007. Foods that have undergone processing, including some commercial baked goods, desserts, margarine, frozen pizza, microwave popcorn and coffee creamers, sometimes contain trans fats . This is the most unhealthy type of fat, and may increase risk for high cholesterol, heart disease and stroke. The 2010 Dietary Guidelines for Americans recommends keeping trans fat intake as low as possible. Processed foods may actually take less energy to digest than whole foods, according to

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2838-487: A takeover, with details "unclear" at the time. At that point, Bunge had a market value of about $ 9.8 billion, and was also being pursued by Glencore PLC for acquisition, since May 2017. In January 2019, Juan Luciano clarified the company didn't need a "monster transformational transaction" and a deal was never made. In March 2018, ADM restructured its business segments into four units: carbohydrate solutions, nutrition, oilseeds, and origination or ag services. The next year,

2967-542: A third (35%) of the total linseed mill capacity within the United States. In 1924, ADM was listed on the New York Stock Exchange . A series of acquisitions over the next several years expanded the company's oil processing capabilities and agricultural operations, and a grain division was established in 1927. In 1930, ADM purchased control of the flour milling company Commander-Larabee Corp., which

3096-508: A three-year memorandum of understanding with Daimler AG and Bayer CropScience to explore the use of jatropha as a feedstock for biofuel . Natural flavors were added to ADM's product portfolio with the 2014 acquisition of Wild Flavors and vanilla products were added through the acquisition of Rodelle in 2018. Long known as a food and ingredients company, it has also invested in fuel production. ADM nearly doubled capital spending in its 2007 budget to an estimated $ 1.12 billion. The increase

3225-518: Is made at home, in a small bakery, or in a large factory, is an example of secondary food processing. Fermenting fish and making wine , beer , and other alcoholic products are traditional forms of secondary food processing. Sausages are a common form of secondary processed meat, formed by comminution (grinding) of meat that has already undergone primary processing. Most of the secondary food processing methods known to humankind are commonly described as cooking methods . Tertiary food processing

3354-1110: Is necessary to make most foods edible while secondary food processing turns ingredients into familiar foods, such as bread . Tertiary food processing results in ultra-processed foods and has been widely criticized for promoting overnutrition and obesity , containing too much sugar and salt , too little fiber , and otherwise being unhealthful in respect to dietary needs of humans and farm animals. Primary food processing turns agricultural products, such as raw wheat kernels or livestock, into something that can eventually be eaten. This category includes ingredients that are produced by ancient processes such as drying , threshing , winnowing and milling grain, shelling nuts , and butchering animals for meat. It also includes deboning and cutting meat, freezing and smoking fish and meat, extracting and filtering oils, canning food, preserving food through food irradiation , and candling eggs , as well as homogenizing and pasteurizing milk . Contamination and spoilage problems in primary food processing can lead to significant public health threats, as

3483-655: Is not necessary to limit the sugars found naturally in whole, unprocessed foods like fresh fruit, eating too much added sugar found in many processed foods increases the risk of heart disease, obesity, cavities and Type 2 diabetes. The American Heart Association recommends women limit added sugars to no more than 420 kilojoules (100 kilocalories), or 25 grams, and men limit added sugars to no more than 650 kJ (155 kcal), or about 38.75 grams, per day. Currently, Americans consume an average of 1,490 kJ (355 kcal) from added sugars each day. Processing foods often involves nutrient losses, which can make it harder to meet

3612-439: Is only truly possible on a wide scale because of food processing. Transportation of more exotic foods, as well as the elimination of much hard labor gives the modern eater easy access to a wide variety of food unimaginable to their ancestors. The act of processing can often improve the taste of food significantly. Mass production of food is much cheaper overall than individual production of meals from raw ingredients. Therefore,

3741-467: Is planned for bioenergy projects, focusing on bioethanol and biodiesel . The oilseeds processing segment includes global activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds (cottonseed, sunflower seed, canola, and flaxseed) into vegetable oils and protein meals. The first quarter of 2020, during the COVID-19 pandemic , saw

3870-512: Is taken into account. Since the Trade Sanction Reform and Export Enhancement Act was enacted in 2000, the trade of food and medicine goods is excluded from the embargo. However, complex licensing and regulatory requirements severely limit export of medicines, medical equipment and supplies, which contain anything produced or patented by the United States, to Cuba. In 2020, $ 176.8 million worth of goods were exported to Cuba from

3999-468: Is the commercial production of what is commonly called processed food . These are ready-to-eat or heat-and-serve foods, such as frozen meals and re-heated airline meals . Food processing dates back to the prehistoric ages when crude processing incorporated fermenting, sun drying, preserving with salt , and various types of cooking (such as roasting, smoking, steaming, and oven baking), Such basic food processing involved chemical enzymatic changes to

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4128-537: Is the “largest uncompensated taking of American property by a foreign government in history.” Assets seized, included vacation homes and bank accounts of wealthy individuals, but most seized property was owned by large American corporations, including sugar factories, mines and oil refineries. At the Bay of Pigs Invasion of 17 to 20 April 1961, an operation devised under Eisenhower but which President John F. Kennedy had approved preceding his presidency, Castro characterized

4257-560: The Clean Air Act that require pollution control upgrades when a plant is modernized. The company paid $ 4.5 million in penalties and more than $ 6 million to support environmental projects. In addition, ADM agreed to eliminate more than 60,000 tons of emissions of carbon monoxide , particulate matter , volatile organic compounds , and other pollutants from 42 plants in 17 states, at a cost of hundreds of millions of dollars. ADM reported Total CO 2 e emissions (Direct + Indirect) for

4386-570: The Council of Mutual Economic Assistance (CMEA) declined by 56%. Between 1989 and 1992, the termination of traditional trade partnerships with the Soviet bloc caused the total value of Cuba's exports to fall by 61% and imports to drop by approximately 72%. This period is known as the Special Period . Supporters of the embargo and many international economists believed that the dissolution of

4515-497: The Cuban Assets Control Regulations of 1963, the Cuban Democracy Act of 1992, the Helms–Burton Act of 1996, and the Trade Sanction Reform and Export Enhancement Act of 2000. The Helms-Burton Act further restricted U.S. citizens from doing commerce in or with Cuba, and mandated restrictions on giving public or private assistance to any successor government unless and until certain claims against

4644-561: The Cuban Missile Crisis of October 1962, Kennedy imposed travel restrictions on February 8, 1963, and the Cuban Assets Control Regulations were issued on July 8, 1963, again under the Trading with the Enemy Act, in response to Cuba hosting Soviet nuclear weapons. These measures froze Cuban assets in the U.S. and consolidated existing restrictions. The restrictions on U.S. citizens traveling to Cuba lapsed on March 19, 1977;

4773-654: The Cuban economy . It is the most enduring trade embargo in modern history . The U.S. government first banned the sale of weaponry to Cuba via an arms embargo on March 14, 1958, during the U.S.-backed Fulgencio Batista regime. The Cuban Revolution saw to the nationalization of Cuba, high U.S. imports taxes, and forfeiture of U.S.-owned economic assets, including oil refineries, without compensation. The U.S. government retaliated in 1960 with an extended embargo on all exports to Cuba, with exception for food and medicine. Cuba held nuclear missiles for

4902-827: The FCPA . Alfred C. Toepfer International Ukraine Ltd. (ACTI Ukraine), plead guilty in the Central District of Illinois to one count of conspiracy in violation of the anti-bribery sections of the FCPA. They agreed to pay $ 17.8 million in fines. The Department of Justice also entered into a non-prosecution agreement with ADM due to the company's failure to implement a system of internal financial controls, addressing improper payments both in Ukraine and by an ADM joint venture in Venezuela. ADM agreed to pay more than $ 36 million to settle

5031-680: The National Linseed Oil Trust for violating the Sherman Antitrust Act . Several co-defendants were named, including the Archer-Daniels Manufacturing Company. The suit alleged all of these companies were acting in collusion to raise prices, citing a spike in linseed oil costs between 1916 and 1918, when the price rose from $ .50 per gallon to $ 1.80. In 1993, the company was the subject of a lysine price-fixing investigation by

5160-630: The Post , ADM "sold the land at a small fraction of its estimated value just as it stood to benefit from a friendly secretary of agriculture." In 2020, ADM's board agreed to have bonuses of senior executives tied to the nutrition segment's success—a unit which accounts for less than 10 percent of the company's revenue—replacing the standard practice of tying the award to adjusted earnings. In January 2023, its seven top executives collectively received shares worth about $ 72 million for exceeding those performance metrics. In January 2024, ADM disclosed that

5289-530: The Russian invasion of Ukraine and the global food crisis . The company has been the subject of several major federal lawsuits related to air pollution . In 2001, it agreed to pay a $ 1.46 million fine for violating federal and Illinois clean-air regulations at its Decatur feed plant and to spend $ 1.6 million to reduce air pollution there. In 2003, the company settled federal air pollution complaints related to its efforts to avoid New Source Review provisions of

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5418-659: The Soviet Union during the 1962 Cuban Missile Crisis , which led the U.S. to impose a full-scale blockade against the Island. The severity of the sanctions brought on by the U.S. has had the United Nations pass annual resolutions to suspend the embargo intermittently since 1992. The embargo is enforced mainly through the Trading with the Enemy Act of 1917 , the Foreign Assistance Act of 1961,

5547-460: The U.S. Justice Department . Senior ADM executives were indicted on criminal charges for engaging in price-fixing within the international lysine market. In a tape played at the trial, ADM's President said that a single phrase inspired the company: "Our competitors are our friends. Our customers are the enemy." Three of ADM's top officials, including vice chairman Michael Andreas were eventually sentenced to federal prison in 1999. Moreover, in 1997,

5676-472: The 1960s. In its 2020 report to the United Nations, Cuba stated that the total cost to Cuba from the United States embargo is $ 144 billion since its inception. United States holds $ 6 billion worth of financial claims against the Cuban government. Between 1954 and 1959, trade between Cuba and the United States was at a higher level than what it was in 2003, according to a BA dissertation submitted to

5805-464: The 2023 Fortune 500 list of the largest United States corporations. The company also provides agricultural storage and transportation services. The American River Transportation Company along with ADM Trucking, Inc., are subsidiaries of ADM. ADM has been the subject of significant media attention and infamy over the years with its various scandals, one inspiring a novel and subsequent film The Informant! . In 1902, John W. Daniels started

5934-502: The 20th century, automatic appliances like microwave oven , blender , and rotimatic paved way for convenience cooking . In western Europe and North America, the second half of the 20th century witnessed a rise in the pursuit of convenience. Food processing companies marketed their products especially towards middle-class working wives and mothers. Frozen foods (often credited to Clarence Birdseye ) found their success in sales of juice concentrates and " TV dinners ". Processors utilised

6063-731: The Agricultural Reform confiscated land owned by many American businesses and Cuba continued to sponsor revolutionary movements in other parts of the Caribbean. By March 1960 the U.S. government began making plans to help overthrow the Castro administration. Congress did not want to lift the embargo. In April 1960, the U.S. Department of State issued a memorandum from Deputy Assistant Secretary of State for Inter-American Affairs Lester D. Mallory to his immediate superior, Roy Rubottom , acknowledging majority support within Cuba for

6192-550: The Castro administration, the fast spread of communism within the country, and the lack of an effective political opposition. The memorandum stated that the "only foreseeable means of alienating internal support is through disenchantment and disaffection based on economic dissatisfaction and hardship." It recommended a policy that would be "adroit and inconspicuous as possible" while aiming to deny "money and supplies to Cuba, to decrease monetary and real wages, to bring about hunger, desperation and overthrow of government." In May 1960

6321-407: The Cuban administration responded by nationalizing all American businesses and most American privately owned properties on the island. Castro promised to separate Americans in Cuba from all of their possessions "down to the nails in their shoes". Cuba's nationalization laws required the government to compensate the owners of seized property, but compensation was to be made in Cuban bonds, an offer which

6450-573: The Cuban government began regularly and openly purchasing armaments from the Soviet Union , citing the U.S. arms embargo. In July 1960 the United States reduced the import quota of brown sugar from Cuba to 700,000 tons under the Sugar Act of 1948; and the Soviet Union responded by agreeing to purchase the sugar instead. In June 1960, Eisenhower's government refused to export oil to the island, leaving Cuba reliant on Soviet crude oil. Cuba and

6579-480: The Cuban government estimates that the embargo has cost the island itself $ 753.69 billion. The Cuba Policy Foundation (CPF) has provided more extreme data ; its estimates put the cost of the embargo at $ 4.84 billion per year while costing Cuba $ 685 million per year. A 2015 report in Al Jazeera estimated that the embargo had cost the Cuban economy $ 1.1 trillion in the 55 years since its inception, once inflation

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6708-608: The Cuban government in 2024. President Biden authorized additional sanctions against Cuba during the 2024 Cuban protests which caused further diplomatic strain with Cuba's president Miguel Díaz-Canel . The embargo has been criticized for its effects on food, clean water, medicine, and other economic needs of the Cuban population. Criticism has come from both Fidel Castro and Raúl Castro, citizens and groups from within Cuba, and international organizations and leaders. U.S. diplomat Lester D. Mallory wrote an internal memo on April 6, 1960, arguing in favor of an embargo to "(make)

6837-496: The Cuban government nationalized the three American-owned oil refineries as well as Compañía Cubana de Electricidad , the Cuban Telephone Company, and 36 sugar mills. The refineries became part of the state-run company, Unión Cuba-Petróleo . This prompted the Eisenhower administration to launch the first trade embargo—a prohibition against selling all products to Cuba except food and medicine. In October 1960

6966-401: The Cuban government were met. The U.S. expanded the trade embargo by disallowing foreign U.S. corporate subsidiaries to trade with Cuba in 1999 and later authorized the sale of food and humanitarian products in 2000. Political scientist William M. LeoGrande summarized that, while the embargo against Cuba is 'the oldest and most comprehensive U.S. economic sanctions regime against any country in

7095-623: The Cuban revolution and state as "socialist". It aligned with the Soviet Union. On September 4, 1961, partly in response, Congress passed the Foreign Assistance Act , a Cold War Act that prohibited aid to Cuba and authorized the President to impose a complete trade-embargo against Cuba. On January 21, 1962, Cuba was suspended by the Organization of American States (OAS), by a vote of 14 in favor, one (Cuba) against with six abstentions. Mexico and Ecuador, two abstaining members, argued that

7224-535: The Decatur capture and storage project. In March 2023, the Decatur City Council voted unanimously to allow ADM to expand its carbon sequestration program onto city land, with the company paying the city $ 450 per acre of land. The agreement enabled ADM to inject liquified carbon dioxide into "pore space" 1.25 miles under land owned by the city of Decatur. In September 2022, PepsiCo and ADM established

7353-519: The Decatur facility had actually increased from 4.2 million tons of carbon dioxide in 2016, the year before the project launched, to 4.4 million in 2019. The United States Department of Energy responded that the agency wasn't concerned about the project reaching the stated goals, as ADM successfully demonstrated that the storage technologies work and could be utilized for future projects. In August 2021, ADM announced that its US flour milling operations had achieved net carbon neutral status, in part due to

7482-536: The Helms-Burton Act because it felt that the U.S. was dictating how other nations ought to conduct their trade and challenged it on that basis. The EU eventually dropped its challenge in favor of negotiating a solution. After the Cuban military shot down two airplanes operated by Hermanos al Rescate (Brothers to the Rescue) in 1996, killing three Americans and a U.S. resident, a bi-partisan coalition in

7611-573: The OAS Charter did not authorize expulsion. Multilateral sanctions were imposed by OAS, led by the U.S., on July 26, 1964, but were later rescinded on July 29, 1975. Cuban relations with the OAS have since warmed and the suspension was lifted on June 3, 2009. Kennedy extended measures by executive order , first widening the scope of the trade restrictions on February 8, 1962 (announced on February 3 and again on March 23, 1962). These measures expanded

7740-493: The President might suspend its application. The waiver must be renewed every six months and traditionally was until U.S. President Donald Trump in 2019. In response to pressure from some American farmers and agribusiness , the embargo was relaxed by the Trade Sanctions Reform and Export Enhancement Act , which was passed by Congress in October 2000 and signed by President Bill Clinton. The relaxation allowed

7869-619: The SEC requested information regarding its accounting practices at its nutrition business on "intersegment transactions." ADM suspended its CFO, postponed its quarterly earnings report and annual filings, and said it was cooperating with the SEC investigation. In March 2024, FBI agents delivered grand jury subpoenas to current and former employees of ADM, authorized by officials at the U.S. attorney's Manhattan office . Food processing The Nova classification groups food according to different food processing techniques. Primary food processing

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7998-483: The SEC's charges, bringing the total amount paid to over $ 54 million. The Swiss NGO Public Eye elaborated the case. In 2021, an investigation by the Washington Post found that ADM had sold land to incoming Secretary of Agriculture Sonny Perdue in 2017 at a fraction of its estimated value. Ethics lawyers had legal and ethical concerns about the sale, questioning whether it amounted to bribery. According to

8127-550: The Soviet Union and the resultant economic crisis would lead to the downfall of Fidel Castro's government. However, Cuba's government instituted a campaign of macroeconomic adjustment and liberalization, which provided significant economic recovery. In November 1991 speech to the UN General Assembly, Cuban ambassador Ricardo Alarcón cited 27 recent cases of trade contracts interrupted by U.S. pressure. The British journal Cuba Business claimed that British Petroleum

8256-493: The Soviet Union signed a trade agreement according to which the Soviet Union would provide 900,000 tons of oil to Cuba. The United States viewed the agreement as a provocation, and successfully urged Esso , Texaco , and Shell to refuse to process Soviet crude in their Havana and Santiago de Cuba refineries. On June 29 and July 1, 1960, Cuba confiscated the refineries. The United States responded by canceling its quota of sugar purchases from Cuba. In turn, on August 30, 1960,

8385-560: The Teresa Lozano Long Institute of Latin American Studies, with 65% of Cuba's total exports sent to the United States while American imports totaled 74% percent of Cuba's international purchases. After the formal implementation of the embargo and the passage of Proclamation 3355, there was a 95% decrease in Cuba's sugar quota, which canceled roughly 700,000 tons of the 3,119,655 tons previously allotted to

8514-505: The U.S. The key sponsor of the Cuban Democracy Act, Democrat Robert Torricelli , stated that the legislation would "wreck havoc on that island." Justification provided for these restrictions was that these companies were trafficking in stolen U.S. properties, and should, thus., be excluded from the United States. President Barack Obama tried to lift the embargo, but Congress did not allow it. The European Union resented

8643-576: The U.S. Congress approved the Helms-Burton Act. The Title III of this law also states that any non-U.S. company that "knowingly traffics in property in Cuba confiscated without compensation from a U.S. person" can be subjected to litigation and that company's leadership can be barred from entry into the United States. Sanctions may also be applied to non-U.S. companies trading with Cuba. This restriction also applies to maritime shipping, as ships docking at Cuban ports are not allowed to dock at U.S. ports for six months. This title includes waiver authority, so that

8772-572: The U.S. ambassador to Mexico John Negroponte travelled to meet two Mexican business men who had signed a textile deal with Cuba on October 17, 1992. Despite the representation, the deal went ahead and was eventually worth $ 500 million in foreign capital. All of this happened before the signing of the Cuban Democracy Act. The 1998 U.S. State Department report Zenith and Eclipse: A Comparative Look at Socio-Economic Conditions in Pre-Castro and Present Day Cuba attributed Cuba's economic penury not as

8901-854: The U.S. and $ 14.9 million imported to the U.S. from Cuba. The U.S. embargo has included travel restrictions for American tourists visiting the Island since 1961. The U.S. government maintains a Level II Travel Advisory Alert for the Island, cautioning citizens against legally traveling through Cuba due to crime. Federal law requires persons subject to U.S. jurisdiction to obtain a license to engage in any travel-related transactions pursuant to travel to, from, and within Cuba. Transactions related solely to tourist travel are not licensable. The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) considers any visit of more than one day to be prima facie proof of violation. OFAC also holds that U.S. citizens may not receive goods or services for free from any Cuban national, eliminating any attempts to circumvent

9030-487: The UN General Assembly has passed a non-binding resolution every year, except for 2020, condemning the ongoing impact of the embargo and declaring it in violation of the Charter of the United Nations and of international law. There was no voting on this issue in 2020 due to the COVID-19 pandemic . Israel is the only country that routinely joins the U.S. in voting against the resolution. Other countries that voted against

9159-539: The UN General Assembly) Future students of American history will be scratching their heads about this case for decades to come. Our embargo and refusal to normalize diplomatic relations has nothing to do with communism. Otherwise, we wouldn't have had diplomatic relations with the Soviet Union throughout the Cold War, with China since Nixon, and with Vietnam despite our bitter war there. No, Cuba

9288-418: The United States imposed sanctions on Cuba's police force and on two of Cuba's leaders in response to violence related to the 2021 Cuban protests . Cuba attempted to embargo the U.S. by banning U.S. cash deposits at Cuban banks in 2021 but had to reverse the ban due to economic distress in 2023. The U.S. government eased select financial sanctions against companies that serve Cuban interests but have no link to

9417-467: The United States. A year later, Cuba's sugar quota was reduced to zero when President Eisenhower issued Proclamation 3383. This substantially affected Cuba's total exports, as Cuba was one of the world's leading sugar exporters at the time. In 1989, with the collapse of the Soviet bloc , Cuba witnessed its most devastating economic crises. Cuba's GDP plummeted 34% and trade between the nations apart from

9546-628: The adults are working away from home and therefore there is little time for the preparation of food based on fresh ingredients. The food industry offers products that fulfill many different needs: e.g. fully prepared ready meals that can be heated up in the microwave oven within a few minutes. Modern food processing also improves the quality of life for people with allergies, diabetics , and other people who cannot consume some common food elements. Food processing can also add extra nutrients such as vitamins . Processing of food can decrease its nutritional density. The amount of nutrients lost depends on

9675-537: The agricultural processing industry. ADM investor services, Inc. is a registered futures commission merchant and a clearing member of all principal commodities exchanges in the U.S. ADM Investor Services International, Ltd., a member of commodity exchanges and clearing houses in Europe, and ADMIS Hong Kong Limited, offer broker services in Europe and Asia. In 1920 the US Department of Justice brought suit against

9804-426: The appointment of current CEO Juan R. Luciano on November 5, 2014. Luciano initially joined the company in 2011 as chief operating officer. Under Luciano's leadership, the company restructured its business segments and pursued an aggressive strategy of acquisitions that expanded its human and animal nutrition business. In October 2015, ADM announced the sale of its global cocoa business to Olam International . The sale

9933-581: The basic structure of food in its natural form, as well served to build a barrier against surface microbial activity that caused rapid decay. Salt-preservation was especially common for foods that constituted warrior and sailors' diets until the introduction of canning methods . Evidence for the existence of these methods can be found in the writings of the ancient Greek , Chaldean , Egyptian and Roman civilizations as well as archaeological evidence from Europe , North and South America and Asia. These tried and tested processing techniques remained essentially

10062-438: The body's needs if these nutrients are not added back through fortification or enrichment. For example, using high heat during processing can cause vitamin C losses. Another example is refined grains, which have less fiber, vitamins and minerals than whole grains. Eating refined grains, such as those found in many processed foods, instead of whole grains may increase the risk for high cholesterol , diabetes and obesity, according to

10191-554: The case is still ongoing: "[A]s of December 31, 2018, Bunge's Argentine subsidiary had received income tax assessments relating to 2006 through 2009 of approximately 1,276 million Argentine pesos (approximately $ 34 million), plus applicable interest on the outstanding amount of approximately 4,246 million Argentine pesos (approximately $ 113 million)." On December 20, 2013, the SEC announced that it had charged ADM for failing to prevent illicit payments ( bribes ) made by its foreign subsidiaries to Ukrainian government officials in violation of

10320-409: The cash for the Cuba trip through an American consulting firm called Seven Arrows Investment and Development Corp. Once the business consultants traveled to Cuba and incurred the expenses for the venture, Seven Arrows instructed senior officers with Trump's company—then called Trump Hotels & Casino Resorts—how to make it appear legal by linking it after the fact to a charitable effort. Since 1992,

10449-473: The company acquired a trademark for "ADM" and began referring to itself by those initials. In 1965, ADM registered the original patent for textured vegetable protein and began producing the soy flour product at its Decatur East Plant by 1966. In 1966, Dwayne Andreas and his brother Lowell Andreas became minority shareholders in ADM. In 1969, ADM relocated its headquarters from Minneapolis to Decatur, Illinois ,

10578-501: The company announced it was consolidating the ag services and oilseed units. In September 2021, ADM acquired a 75% stake in four pet food companies for a total of $ 450 million, including PetDine, Pedigree Ovens, NutraDine, and The Pound Bakery. Later that year in November, ADM acquired Serbian soy agribusiness Sojaprotein , and completed its acquisition of Deerland Probiotics & Enzymes. In 2022, ADM saw rising profits due to

10707-477: The company was fined $ 100 million, the largest antitrust fine in U.S. history at the time. Mark Whitacre , FBI informant and whistleblower of the lysine price-fixing conspiracy, would also find himself in legal trouble for embezzling money from ADM during his time as an informant for the FBI. In addition, according to ADM's 2005 annual report, a settlement was reached under which ADM paid $ 400 million in 2005 to settle

10836-622: The company's chief executive officer. In February 2007, Woertz was elected chairman of the board at ADM. In 2012, the company sought to acquire strategic holdings to support serving Asian markets through the acquisition of GrainCorp , an Australian grain firm with a network of storage and port facilities in Australia. On November 28, 2013, the acquisition was blocked by the Australian Treasurer Joe Hockey after Australia's Foreign Investment Review Board failed to reach

10965-561: The company's president. In December 2001, ADM completed the first U.S. commercial sale to Cuba since the embargo was imposed in October 1960. The next year ADM sponsored a major agribusiness show in Havana, where the company signed a $ 10 million contract with Cuba’s food import agency, Alimport, to deliver rice, cooking oil, and soy. In March 2006, G. Allen Andreas announced he was stepping down as CEO. Later, in May 2006, Patricia A. Woertz became

11094-566: The country's access to the U.S. financial system. Immediately following Cuba's designation as a State Sponsor of Terrorism in January 2021, the State Department launched new political sanctions against Cuba's support of Venezuela and their president, Nicolás Maduro . That month the U.S. Treasury additionally sanctioned the Cuban Ministry of Interior for human rights abuse in Cuba . In July 2021, under President Joe Biden ,

11223-484: The deal was later disallowed by Cuban authorities because one of the owners had recently obtained Cuban citizenship and factory ownership is illegal in Cuba. On January 12, 2017, Obama announced the immediate cessation of the wet feet, dry feet policy , eight days before his term ended . The Cuban government agreed to accept the return of Cuban nationals. Since 2014, anticipation of the end of this policy led to increased immigration from Cuba. On November 8, 2017, it

11352-415: The embargo contributed to malnutrition, poor water access, lack of access to medicine and other medical supplies and concluded that "a humanitarian catastrophe has been averted only because the Cuban government has maintained a high level of budgetary support for a health care system designed to deliver primary and preventative medicine to all its citizens." The AAWH found that travel restrictions embedded in

11481-473: The embargo have limited the amount of medical information that flows into Cuba from the United States. Since 2000, the embargo has explicitly excluded the acquisition of food and medicines. Writing in 2021, in the context of the 2021 Cuban protests, according to Pavel Vidal, a former Central Bank of Cuba economist who teaches at Javeriana University in Colombia , economic reforms in Cuba "do not depend on

11610-490: The embargo on the economic development of Cuba are likely negligible. The paper states that: "Under the real world of Castroism, however, the answer must be a terse one: none. The embargo has not harmed the Cuban economy. Cooperation between the United States and Cuba would have been impossible from the very beginning of the Revolution for legal, political, ideological, strategic, and economic reasons, not to mention others of

11739-411: The embargo range up to ten years in prison, $ 1 million in corporate fines, and $ 250,000 in individual fines; civil penalties up to $ 55,000 per violation. In September 2016, Newsweek reported that then future President Donald Trump's hotel company violated the embargo, spending a minimum of $ 68,000 for its 1998 foray into Cuba without U.S. government approval. With Trump's knowledge, executives funneled

11868-506: The embargo to epidemics of specific diseases, including neurological disorders and blindness caused by poor nutrition. An article written in 1997 suggests malnutrition and disease resulting from increased food and medicine prices have affected men and the elderly in particular, due to Cuba's rationing system which gives preferential treatment to women and children. In 1997, the American Association for World Health stated that

11997-499: The embargo to include all imports of products containing Cuban goods, even if the final products had been made or assembled outside Cuba. On August 3, 1962, the Foreign Assistance Act was amended to prohibit aid to any country that provides assistance to Cuba. On September 7, 1962, Kennedy formally expanded the Cuban embargo to include all Cuban trade, except for the non-subsidized sale of food and medicines. Following

12126-526: The embargo, and the embargo should be eliminated unilaterally, independently from reforms in Cuba. Both cause problems." A 2009 report by Amnesty International argues that the Cuban embargo has had an adverse effect on human rights in Cuba, and that "states must take into account the effects that [imposed] sanctions may have on the enjoyment of economic, social and cultural rights in the country affected". The U.S. sanctions on Cuba and their economic impacts can be traced back to when they were first implemented in

12255-483: The financing behind such goods is not always clear. The goods often come from third parties based in countries outside the U.S., even if the product being dealt originally has U.S. shareholders or investors. In April 2009, President Barack Obama first attempted to warm relations by easing the U.S. travel ban, allowing Cuban-Americans to travel freely to Cuba. He later extended this easing in January 2011 to certain students and religious missionaries. Ana Cecilia became

12384-521: The first officially approved ship to sail in July 2012 from Miami to Cuba, carrying medicine and personal hygiene goods. Two years later, in 2014, the Obama administration announced its intention to formally re-establish relations with Cuba. The two nations completed a prisoner exchange, with Cuba releasing an unnamed American intelligence officer and Alan Gross , a U.S. contractor who had spent five years in

12513-736: The food and beverage industry including sweeteners, starch, syrup, glucose (dextrose). Dextrose and starch are used by the Corn Processing segment as feedstocks for its bioproducts operations. In 2021, ADM was ranked second on the Top 50 Global Sweetener Companies list by FoodTalks. ADM's agricultural services segment uses its U.S. grain elevator, global transportation network, and port operations to buy, store, clean, and transport agricultural commodities, such as oilseeds, corn, wheat, milo , oats, rice, and barley, and resells these commodities primarily as food and feed ingredients and as raw materials for

12642-490: The food and processing method. For example, heat destroys vitamin C . Therefore, canned fruits possess less vitamin C than their fresh alternatives. The USDA conducted a study of nutrient retention in 2004, creating a table of foods, levels of preparation, and nutrition. New research highlighting the importance to human health of a rich microbial environment in the intestine indicates that abundant food processing (not fermentation of foods) endangers that environment. One of

12771-461: The four companies when prices for agricultural commodities spiked in 2008 and yet very little profit for the four companies had been reported to the office. As a result of the investigation, it was alleged that the companies had submitted false declarations of sales and routed profits through tax havens or through their headquarters. In some cases, they were said to have used phantom firms to buy grain and had inflated costs in Argentina in order to reduce

12900-402: The greatest inroads in denying money and supplies to Cuba, to decrease monetary and real wages , to bring about hunger, desperation and overthrow of government". Some medical scholars, outside Cuba, have linked the embargo to shortages of medical supplies and soap which have resulted in a series of medical crises and heightened levels of infectious diseases. Medical scholars have also linked

13029-499: The leaders of the two countries in over 50 years. In May 2015, several U.S. companies reported they had been granted licenses to establish ferry travel between Florida and Cuba, with the U.S. Treasury Department confirming. On May 29, 2015, the U.S. removed Cuba from its designated list of state sponsors of terrorism on May 29, 2015, later re-adding it on January 12, 2021. U.S. banks then were temporarily allowed to open accredited accounts in Cuban banks. Diplomatic connectivity

13158-490: The legislation during the 2000s. U.S. nationals have circumvented the ban by traveling to Cuba from a different country, such as Mexico, The Bahamas , Canada , or Costa Rica . The practice opens U.S. citizens to a risk of prosecution and fines by the U.S. government if discovered. In 2006, the U.S. announced the creation of a task force that will more aggressively pursue violations of the U.S. trade embargo against Cuba, with severe penalties. Criminal penalties for violating

13287-472: The main sources for sodium in the diet is processed foods. Sodium, mostly in the form of sodium chloride , i.e. salt, is added to prevent spoilage, add flavor and enhance the texture of these foods. Americans consume an average of 3436 milligrams of sodium per day, which is higher than the recommended limit of 2300 milligrams per day for healthy people, and more than twice the limit of 1500 milligrams per day for those at increased risk for heart disease. While it

13416-817: The majority of which was slated for the Industrial Carbon Capture and Storage (ICCS) program. Through this ICCS initiative, the Department of Energy co-sponsored two large-scale capture and storage projects at ADM facilities in Illinois. These projects were intended to test the feasibility of underground disposal of carbon dioxide emissions. In November 2011, the first of these projects, the Illinois Basin - Decatur Project (IBDP), began operation. The project involved injecting carbon captured at an ADM biofuel facility into Mount Simon Sandstone ,

13545-409: The operating profit of Ag Services and Oilseeds (ADM's biggest revenue segment) rise $ 422 million, or 1.2%. ADM's corn processing segment is engaged in corn wet milling and dry milling activities, with its asset base primarily located in the central part of the United States. The Corn Processing segment converts corn into sweeteners and starches, and bioproducts. Its products include ingredients used in

13674-781: The perceived value of time to appeal to the postwar population, and this same appeal contributes to the success of convenience foods today. Benefits of food processing include toxin removal, preservation, easing marketing and distribution tasks, and increasing food consistency. In addition, it increases yearly availability of many foods, enables transportation of delicate perishable foods across long distances and makes many kinds of foods safe to eat by de-activating spoilage and pathogenic micro-organisms. Modern supermarkets would not exist without modern food processing techniques, and long voyages would not be possible. Processed foods are usually less susceptible to early spoilage than fresh foods and are better suited for long-distance transportation from

13803-463: The present regulation, effective June 30, 2004, being the Cuban Assets Control Regulations (31 C.F.R. Part 515). The current regulation does not prohibit travel by U.S. citizens to Cuba per se , but it makes it illegal for U.S. citizens to have transactions (spend money or receive gifts) in Cuba under most circumstances without a U.S. government Office of Foreign Assets Control issued license. Since even paying unavoidable airfare ticket taxes into

13932-465: The program. Products include oils and meal from soybeans , cottonseed , sunflower seeds , canola , peanuts , flaxseed , Palm kernel , and DAG oil , as well as corn germ , corn gluten feed pellets, syrup , starch , glucose , dextrose , crystalline dextrose, high fructose corn syrup sweeteners , chocolate , ethanol , and wheat flour . End uses are consumption by people, livestock , and additives for fuel . In January 2008, ADM signed

14061-514: The project, while the private sector cost share amounted to over $ 66 million. Other partners included Richland Community College and the Illinois State Geological Survey. In November 2020, Investigate Midwest reported that the Illinois Industrial Carbon Capture and Storage Project had not reached its milestone of one million tons stored and had only stored approximately half that amount, and that carbon emissions from

14190-664: The recorded profits earned in the country. According to the country's revenue and customs service, the outstanding taxes amounted to almost US$ 1 billion. The companies involved have denied the allegations. To date, the Argentinian tax authorities have not replied to the Swiss NGO Public Eye ’s request regarding the current state of the case. In its 2018 annual report to the US Securities and Exchange Commission (SEC), Bunge mentioned provisions which suggest that

14319-491: The regulation based on that premise. Spurred by a burgeoning interest in the assumed untapped product demand in Cuba, a growing number of free-marketers in Congress, backed by Western and Great Plains lawmakers who represent agribusiness, have tried each year since 2000 to water down or lift regulations preventing Americans from traveling to Cuba. President George W. Bush threatened to veto such efforts which stalled

14448-552: The regulation was renewable every six months, but President Jimmy Carter did not renew it and the regulation on spending U.S. dollars in Cuba was lifted shortly afterwards. President Ronald Reagan reinstated the trade embargo on April 19, 1982, though it was now only restricted to business and tourist travel and did not apply to travel by U.S. government officials, employees of news or film making organizations, persons engaging in professional research, or persons visiting their close relatives. This has been modified subsequently with

14577-410: The resolution in the past include Romania in 1992, Albania and Paraguay in 1993, Uzbekistan from 1995 to 1997, Marshall Islands from 2000 to 2007, Palau from 2004 to 2009 then once in 2012, and Brazil in 2019. 187 countries voted in favor of the resolution in 2024, with only the United States and Israel voting against it and Moldova abstaining. (The 19th resolution of the 47th session of

14706-496: The resulting foods are used so widely. However, many forms of processing contribute to improved food safety and longer shelf life before the food spoils. Commercial food processing uses control systems such as hazard analysis and critical control points (HACCP) and failure mode and effects analysis (FMEA) to reduce the risk of harm. Secondary food processing is the everyday process of creating food from ingredients that are ready to use. Baking bread , regardless of whether it

14835-554: The sale of agricultural goods and medicine to Cuba for humanitarian reasons. Although Cuba initially declined to engage in such trade (having even refused U.S. food aid in the past, seeing it as a half-measure serving U.S. interests), the Cuban government began to allow the purchase of food from the U.S. as a result of Hurricane Michelle in November 2001. In some tourist spots across the island, American brands such as Coca-Cola can be purchased. Ford tankers refuel planes in airports and some computers use Microsoft software. The origin of

14964-510: The sale of weapons to Latin-American countries which had signed the 1947 Inter-American Treaty of Reciprocal Assistance (Rio Treaty) as long as the weapons were not used for hostile purposes. The arms embargo had more of an impact on Batista than on the rebels. After the Castro socialist government came to power on January 1, 1959, relations were initially friendly between Castro and the Dwight D. Eisenhower administration but became strained after

15093-524: The same until the advent of the Industrial Revolution . Examples of ready-meals also date back to before the preindustrial revolution, and include dishes such as Cornish pasty and Haggis . Both during ancient times and today in modern society these are considered processed foods. Modern food processing technology developed in the 19th and 20th centuries was developed in a large part to serve military needs. In 1809, Nicolas Appert invented

15222-491: The source to the consumer . When they were first introduced, some processed foods helped to alleviate food shortages and improved the overall nutrition of populations as it made many new foods available to the masses. Processing can also reduce the incidence of food-borne disease. Fresh materials, such as fresh produce and raw meats, are more likely to harbour pathogenic micro-organisms (e.g. Salmonella) capable of causing serious illnesses. The extremely varied modern diet

15351-512: The twelve months ending December 2022 at 15,630 Kt (-370 year over year). In April 2020, ADM announced that by 2035, the company intends to have reduced its greenhouse gas emissions by 25%, and its energy intensity by 15%. The American Recovery and Reinvestment Act of 2009 , the economic stimulus package developed in response to the Great Recession , included a $ 3.4 billion allocation for the Department of Energy's office of fossil fuel,

15480-558: The wine, beer, and milk preservation. In the 20th century, World War II , the space race and the rising consumer society in developed countries contributed to the growth of food processing with such advances as spray drying , evaporation , juice concentrates, freeze drying and the introduction of artificial sweeteners, colouring agents, and such preservatives as sodium benzoate . In the late 20th century, products such as dried instant soups, reconstituted fruits and juices, and self cooking meals such as MRE food ration were developed. By

15609-467: The world ... [it] has never been effective at achieving its principal purpose: forcing Cuba's revolutionary regime out of power or bending it to Washington's will.' The United States imposed an arms embargo on Cuba on March 14, 1958, during the armed conflict of 1953-1959 between rebels led by Fidel Castro and the Fulgencio Batista régime. Arms sales violated U.S. policy which had permitted

15738-456: The world's largest agricultural processing companies. During this period, the company's soybean exports increased from $ 1.5 billion to $ 7 billion. In 1974, ADM made its first expansion into Europe and South America when the company acquired soybean plants in Holland and Brazil . In 1982, ADM established international grain operations when it purchased a portion of Toepfer International ,

15867-528: Was announced that President Trump's administration had enacted new rules which would re-enforce the business and travel restrictions which were loosened by the Obama administration and would go into effect on November 9. In 2019, ExxonMobil , the largest American energy producer, sued the Cuban government for their theft of U.S. oil assets in the 1960s. In September 2019, the U.S. tightened restrictions on Cuba by limiting U.S. remittances to Cuba and further closing

15996-489: Was capable of producing 32,000 barrels of flour per day. In 1934 the company began operating its first continuous solvent extraction plant in Chicago, Illinois and could now produce soybean oil. The rapid development of similar extraction plants soon followed. By 1952, Archer Daniel Midland's workforce had expanded to 5,000 employees, and by 1952 the company was operating overseas and manufacturing over 700 products. In 1962,

16125-444: Was not taken seriously by the United States. Payments pursuant to the Cuban bonds were to be paid from the sale of Cuban sugar to the United States, but the United States had just canceled its purchases of Cuban sugar. No compensation was paid. Other countries which had their assets nationalised, including Switzerland, Canada, Spain, and France, were more agreeable to Castro’s terms, seemingly convinced that they would not be able to get

16254-446: Was officially established on July 20, 2015. On September 21, 2015, the U.S. Commerce and Treasury Departments increased travel licenses, amended civil aviation and commercial passenger aircraft regulations, and normalized import-export license requirements for Cuba. In February 2016, the U.S. agreed to allow two American men to build a $ 5-$ 10 million tractor factory. It would have been the first factory owned by Americans in decades, but

16383-473: Was pure politics. Though it started out to be a measure of an administration's resistance to Castro's politics, it very soon became a straitjacket whereby first-generation Cuban-Americans wielded inordinate political power over both parties and constructed a veto over rational, mature diplomacy. — Gary Hart , former U.S. Senator , March 2011 On May 1, 2009, Venezuelan President Hugo Chávez , while speaking about his meeting U.S. President Barack Obama at

16512-523: Was seemingly dissuaded by U.S. authorities from investing in offshore oil exploration in Cuba despite being initially keenly interested. The Petroleum economist claimed in September 1992 that the U.S. State Department vigorously discouraged firms like Royal Dutch Shell and Clyde Petroleum from investing in Cuba; this pressure did not work in all cases. According to the Mexican newspaper El Financiero ,

16641-435: Was valued at about $ 1.2 billion. Approximately 1,500 employees transferred to Olam with the sale. In January 2017, ADM agreed to sell its crop risk services (insurance) unit to Validus Holdings for $ 127.5 million. In October 2016, ADM launched its venture capital arm, ADM Ventures, which focused initially on alternative proteins. The Wall Street Journal reported in January 2018 that ADM had approached Bunge Ltd. about

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