Posted on March 18, 2021
Ever noticed that the worst excesses of governments and corporations are given innocuous sounding names and descriptors to take the edge off the brutal truths that underlie them?
It’s euphemism run wild these days to describe everything from firings (‘downsizing’) to dying (‘negative patient outcome’) to raw sewage (‘biosolids’) to designated homeless camps (‘compassion zones’), to kidnapping foreign nationals and bringing them to Guantanamo (‘extraordinary rendition’) to taxing people to death (performing ‘budget reinforcement’ operations).
Sick, the way language is employed at times.
But we never imagined a day when companies themselves would be named according to best euphemistic practice.
Well, allow us to introduce you to Irving, Texas’ Darling Ingredients (NYSE:DAR).
And what do you suppose this 140 year old company does?
Make jams, maybe?
Package up lovely spices?
Produce baking and sweetening agents for the gourmet crowd?
No, no, friend…
According to its own literature – DAR “collects and transforms various animal by-product streams into useable and specialty ingredients,” and “recovers and converts used cooking oil and animal fats, and residual bakery products [via its restaurant ‘grease trap collection and disposal services’] into valuable feed and fuel ingredients.”
In other words, you and your pets are eating it.
Now to business.
These biodiesel pushers have nary a fundamental leg to stand on.
To wit –
That revision-aided ‘earnings beat’, by the way, provided an opportunity for insiders to sell a fortune in stock.
Over the last six months, $37 million in shares were offloaded by the C-suite, of which just shy of $30 million was dumped in just the last two weeks!
When you’re processing 10 percent of the world’s ‘inedible meat byproducts’ and making ‘phosphate-based fertilizer’ from pig manure…
Many happy returns,