Watch the meat. Beyond Meat is getting its e-comm on, and investors can’t get enough of it. On Thursday, the company launched its direct-to-consumer service, and shares jumped 6%. They would have jumped higher if the company announced it was going to make food that doesn’t taste like sh*t, but that’s neither here nor there.
The company’s website will offer users the option to order Beyond Meat products directly to their homes and will include offerings like variety and sampler packs. For those who want just the tip. “Meats” will be delivered via carbon-neutral two-day shipping through the UPS. Really? You can’t throw the USPS a bone?
??The SEC comes a-callin’. The SEC has reached out to Boeing and Coca-Cola, asking the companies to shed a little more light on the “supply-chain financing” they engage in. The now popular method of bookkeeping allows companies to perform short term borrowing to pay for goods and services. That doesn’t seem so bad.
Well, there’s more. Banks provide the short term loans, and the loans are used to pay company suppliers earlier than they might otherwise, and at a slight discount. The loan recipient then pays the bank back later than it would have had to pay the suppliers.
The problem? These loans are often listed as accounts receivable by the companies that use supply chain finance, thus showing an overly rosy picture of their financial health. Boeing killed like 300 in the past two years, do you think they're going to think twice about a little accounting fraud?
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