The plant-based meat company Impossible Foods announced its entry into grocery stores outside of the U.S. for the first time as it begins distributing its beef alternative in 200 locations in Asia.
"With our business now growing 100x — we have grown from 150 global grocery locations to over 15,000 now — it was clear that we needed to continue to roll out to home chefs in Asia," Chief Financial Officer David Lee told Cheddar.
Lee went on to tout, specifically, its expansion in Hong Kong and Singapore, as the company looks to provide its faux meat directly to consumers. Impossible Foods products had already been established in restaurants there.
"We've had great experiences in countries and city-states that set food trends globally," he said. "Asia's 40 percent of, we think, the global market for meat, and Hong Kong and Singapore [and] Macau, these are gateway locations that have some of the best chefs and culinary experiences."
While large regions, like mainland China, have not yet been included in this expansion, Lee was emphatic that the company had plans to enter "all major global markets beyond the ones we're in."
The CFO admitted that the coronavirus pandemic has been challenging for the business. But, in comparison to the traditional meat industry, he noted that Impossible Foods has been both lucky and prepared, noting that it "called a shelter-in-place before most," even prior to the one put in place in the Bay Area.
"Our heart goes out to all of the workers that are still shipping animals, chopping them up under tough labor conditions. You've seen the impact, COVID has had on a number of these slaughterhouses," Lee said. "The good news for us is we avoid many of those risks, but we still are very vigilant."
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A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
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It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
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