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The Port of Oakland’s executive director retired Monday as he was becoming increasingly embroiled in a scandal in which $4,500 in public funds were used for a party at a strip club.
Omar Benjamin and Maritime Director James Kwon had been on paid administrative leave since mid-October. In a news release issued Monday night, the port announced that Benjamin had stepped down effective immediately.
Port officials had initially been investigating Kwon, who had submitted receipts for a 2008 gathering at Treasures, an upscale strip club in Houston.
More at the San Francisco Chronicle
CHS Inc, the largest U.S. farm cooperative, last week said quarterly earnings jumped 75 percent from a year ago, boosted by strong commodity prices and a global network of facilities.
The Minnesota-based company reported net income of $360.9 million for its fiscal fourth quarter ending August 31, up from $206.5 million a year earlier.
Net income for the fiscal year ending August 31 reached $1.26 billion, up 31 percent from the previous year. It was the first time a U.S. agricultural cooperative surpassed $1 billion in annual earnings, according to CHS.
The cooperative joined bigger rivals Cargill and Bunge, two of the world’s largest agricultural trading houses, in attributing solid results to networks of employees and facilities.
Bunge last month said it doubled quarterly profits by mobilizing its global grain network to supply customers hit by the worst U.S. drought in more than 50 years. Cargill’s quarterly earnings more than quadrupled from a year earlier.
More at Reuters
Source: Talking Union
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