Hugh Grant — Monsanto chair, CEO, and president — probably won’t notice the increased price of a loaf of bread. And if he does, it will be with a smile. Grant is $13-million-and-change wealthier today than he was on Monday, as he choose to exercise stock options — 116,000 shares worth — that netted him a profit of over $114 per share.
Like many of us, I wouldn’t mind paying the extra dollar per loaf of bread if I knew the majority of that dollar was going back into the hands of farmers. Instead, the higher prices at the checkout line are funneled to the agri-giants like Monsanto and Cargill, companies making record profits. Remind you of gas prices and oil companies? Reminds me that these agri-giants spent $100 million on getting their way in the Farm Bill, an investment with huge dividends — for Monsanto’s Hugh Grant, anyway.
Cross-posted at OCM.