Kiss good-bye
Milton Hershey would have been outraged - or perhaps not. In any case, we shall never know if the inventor of the famous chocolate sweet, Hershey Kisses, would have condoned plans by the Hershey Trust - a charitable trust the childless Milton set up in 1905 to fund a boarding school for the poor – to sell the Trust’s controlling stake in Hershey Foods, America’s largest chocolate maker.
After months of reviewing several bids, the board members gave in to protests from employees and others and dropped their plan to sell their stock valued at USD12.5 billion. The Trust has almost 60 percent of its USD5.4 billion of assets tied up in Hershey Foods’ shares.
For once, morals have won over profit..
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