Thursday 21 January 2010

Cadburys and Kraft

Unsurprisingly every other person I run into at present is asking me for my take on the take-over of Cadbury's (or whether I will have to change my name to Ruth Kraft).
Well:
Sadly I have no Cadbury shares, so havn't gained financially. My real worry is for the economy and community in south Birmingham, where there is a fear that Kraft will ship production overseas to try to reduce costs. Birmingham suffered from falling real wages even before the recession, and has taken the biggest hit of any UK region in the last 18 months. The potential closure of the factory at Bournville would be a loss of another 3000 jobs and closure of an iconic factory complex. Like many people I am saddened that an iconic British name is now in foreign ownership, and hope it won't make any difference for people who loce the taste of Cadbury's chocolate.

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