In Dark Economic Times, Spam Flourishes
Forget pork belly... Crack open a can of Spam.
One man's recession is another man's golden age. Or, in this case, another company's. Forbes names five corporate entities that are thriving despite last year's economic downturn, one of which is Hormel Foods, maker of Spam.
The company has seen a 30 percent hike in Spam sales since 2006, which it has produced since the mid-1930s. Analyst Timothy Ramey credits the porky product's success with people eating at home again. Ramey, who owns a vineyard in Oregon, adds that Spam is great with a glass of Pinot Gris: "It'll drive through the heavy salt content."
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