Tag Archive | "incomes"

Expired Food Found in Massachusetts’ School Cafeterias

The Massachusetts state department of education announced Friday that expired foods were found in public school cafeterias. An average of a dozen schools around the state reported to have received shipments of foods six weeks past its expiration date.

Last month, the same problem was encountered in Boston and it has since been detected in the entire state.

John Connolly, city councilor of Boston, said that most students from Boston belong to families whose incomes are low enough to avail the discounted or even free food at school. Thus, the councilor is worried that because of the past-date foods shipped to schools, the students might be receiving food of no or low nutritional value.

Because of these events, school board members and officials are asking the Agriculture Department to place a more standardized system of determining expiration dates. The situation is exacerbated by USDA guidelines that say food can be eaten past their expiration dates.

Foods in schools are supplied by USDA and they are stored from four different warehouse facilities. JC Considine, spokesperson of Elementary and Secondary Education of Massachusetts, said that this issue is contained in one of the warehouses. The said facility delivers food to schools in the northeastern part of Massachusetts.

However, Considine was firm on saying that food from all four warehouse facilities will be reviewed. Connolly said that they already discovered mismanagement in the inventory of food inside the warehouses resulting to expired foods delivered in schools. These discoveries pushed revamping of menu planning and inventory management.

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Stocks Pullback While Bar Set High

Following a mid-week quiver, the much awaited pullback is finally on its way. However, the market is still showing signs of some power left if incomes will come in at higher expectations.

Some huge energy companies like Chevron Corp, as well as ConocPhillips will be reporting their outcomes next week. Outlooks have been all over the sector, the 3rd biggest in the S&P 500, giving them a lot of room for frustration.

Analysts have increased expectations as stocks shot up the latter part of last year on the signs of an improving economy. The S&P 500 income estimate for the latest quarter were amended up 1% for the last sixty days, as written on data acquired from Starmine.

Optimistic revisions were hardly focused on the energy, technology, as well as material divisions. A 5.7 percent raise was made in the estimates of materials, 4.8 percent in energy, and 2.3 percent in technology, Starmine reported.

Obviously, the three areas together with financials took the force of selling throughout the week. Material shares have decreased the most, down by 3.3 percent over the week.

U.S. market strategist, Marco Pado of Cantor Fitzgerald & Co. in San Francisco states that declines in top sectors are a complete sign of income taking.

He said they are looking for a 5% to 7% pullback range and they think they just started.

A pullback that has a magnitude like that would move the S&P 500 to decrease 1,204 based on Tuesday’s closing price. It is still within their uptrend channel since March 2009 lows, which numerous technical analysts perceive as a strong support for the market.

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