Locking out workers is costing American Crystal Sugar Co. shareholders lots of money.
In the first nine months of fiscal year 2011—the period immediately preceding American Crystal Sugar’s lockout of 1,300 employees—American Crystal’s production costs were $382 million (click on graphic
The production costs for the first nine months of this fiscal year shot up $90 million to $471 million. That’s more than a 23 percent increase. During the same period, another sugar beet cooperative, Minn-Dak, saw its costs decrease, dropping 16 percent.
Tell American Crystal CEO Dave Berg to stop wasting shareholders’ money and go back to the bargaining table.