Hershey Foods will not be sold

Posted Wednesday, September 18, 2002 5:43 AM | Contributed by Rob Ascough

While not strictly related to Hersheypark, but certainly having an effect on the local economy and the park, Hershey Foods has decided not to sell or move.

Read more from AP via Yahoo.

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Wednesday, September 18, 2002 6:13 AM
stoogemanmoe's avatar Finally! Thank you Hershey for keeping jobs in the area! Now let's hope they don't lay everyone off.

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The language of love is universal.
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stoogemanmoe

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Wednesday, September 18, 2002 6:34 AM
I did not get a chance to read the article, so this could be a repeat of what it says (I'm in a tech training class today and don't have time to "surf"). This morning local radio said that Wrigley's was the latest to express serious interest at 12billion bid with a "promise" to keep the local factory running. Now that the trust has changed its mind, the radio report said that they will be looking into some "stock buy backs" (I think) to help diversify. Not sure exactly what that means. The radio report also "cautioned" (or was this just to add a comment) that just because Hershey has decided not to sell now does not mean that the issue may not come up in the future. Of course, that last statement is a no brainer as any company at any time could announce a sale.
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Wednesday, September 18, 2002 6:49 AM
This is GREAT news!
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Wednesday, September 18, 2002 10:51 AM
Still, it would have been fun to see the "Doublemint Twins" as WrigleyHersheypark mascots.
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Wednesday, September 18, 2002 11:13 AM
ohhh! Yummmmmm...... I can taste in now, Chocolate chewing gum. Now doesn't that sound just tasty! Anyways, I've never been there, or visited the factory, but I'm glad that my favorite chocolate company isn't a sellout.
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Wednesday, September 18, 2002 11:15 AM
Being a local from the Harrisburg area I am really happy to see that they have decided not to sell. I must admit that I would have supported a Kraft takeover. They would have kept the jobs here had they taken it over.
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Wednesday, September 18, 2002 11:20 AM
Jeff's avatar

And the water coaster still should've been called "Hershey Squirt."

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Jeff - Webmaster/Admin - CoasterBuzz.com
"There's nowhere to run, nowhere to hide, when it's all in your mind. You gotta let go." - Ghetto, Supreme Beings of Leisure

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Wednesday, September 18, 2002 12:47 PM
Superstew's avatar Yes...And the idiots that started this whole BS sale thing, need, as RideMan would say, "a good swift kick in the crotch!"

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Just when you think you have all the answers, I change the questions

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Wednesday, September 18, 2002 1:22 PM
Just writing to agree with you Superstew.
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Wednesday, September 18, 2002 2:49 PM
those of us that are from hershey, and who work at the park like me, are EXTREMELY HAPPY. I have seen that chocolate factory everyday i have ever been working at hersheypark and without it, i don't know what we would do. For once, money was not everything. :-)
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Wednesday, September 18, 2002 6:06 PM

Jeff,

If it was Hershey Squirts they should have an opening on the bottom of the seat so you can take dumbs on the people!

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www.moviecoaster.com

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Thursday, September 19, 2002 4:34 AM

In a radio blurb today, either the current head of the Trust of one of the trust members (I forget wich) stated that he believes that things will get back on the right track between the Trust and the community over the course of time... and as far the sale was concerned, he said he believes that over time people will see that the Trust was doing the right thing in persuing a sale.

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Kind of hard to take a post as objective if a park or coaster name is part of the "user name"

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Thursday, September 19, 2002 5:15 AM

Some potentially sweet revenge:

I just read in my local paper that a small group in the Hershey community (comprised mostly of activists, politicians and retired businessmen) are looking to have the current trust board removed to ensure the future of the company and everything related. The current board president is stating that a sale is no longer an option.

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Thursday, September 19, 2002 11:14 AM

Other news:

From radio reports, a group of "minority stock holders" (I assume that the Trust of the Majority stock holder while all others are the minority holders?) is planning a law suit against the Trust because it changed its mind about the sale and thus they lost potential profit. Local "experts" say that this suit stands very little chance because precident is that a company can refuse an offer if "they think it would adverse affect the community."

To back up something that Rob Ascough just said:

Locally the current board of the Trust is looked at a bit cynically by many because, for the first time in its history it is comprised of people from "outside the area". Historically, most, if not all, of the members of the board called central PA home. Now many of them are looked at as "outsiders".

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Kind of hard to take a post as objective if a park or coaster name is part of the "user name"

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