The financial and auto industries aren’t the only ones getting government handouts. The Italian government is propping up one of its “native” industries to the tune of $70.4 million by buying 200,000 wheels of cheese. Half of that is Parmigiano-Reggiano, a.k.a. Parmesan cheese. The other half is Grana Padano, another “grating” cheese. The bailout cheese will go to charity.
Italian cheesemakers have been struggling to survive, because wholesale prices have gotten so low. But the government’s move is not without its critics. Some believe that the entire cheese industry needs to be overhauled, and that the bailout is nothing more than a temporary fix. Meanwhile Buffalo Mozzarella producers are fuming. They aren’t receiving similar assistance, despite having an 18 percent drop in sales over the past year.
(Source: The Wall Street Journal)
Similar Articles:
- How You Should Invest After the Bailout – Does the bailout mark a bottom? Is the worst over? Is it okay to stop feeling nervous? No, no… and y…
- Financial Word of the Week: Bailout – With all of the turmoil in the financial industry, one word that keeps making the rounds is “bailout…
- Quotes About Cheese – For all you turophiliacs (cheese lovers) out there, here are some quotes about your favorite food th…
- Dear ETR: How Do Bailouts Affect Stock Prices? – “In his article entitled ‘Financial Word of the Week: Bailout,’ Charles Delvalle said that if a pers…
- Laws of Investing From Sir Isaac Newton – The House of Representatives voted against the $700 billion bailout plan for the financial sector. T…
- Fat Loss: A Calorie Is NOT a Calorie – While losing weight isn’t the easiest task for some, the equation is pretty simple: To drop pounds, …
- My Favorite Thanksgiving Tradition: The Best of Two Worlds – For my husband and me, Thanksgiving is an international delight. My family is Italian and Irish. His…