Time to rethink your livestock investment and maybe make the shift into orange shares - or a money market account. According to Reuters:
The company behind the Atkins Diet, standard bearer for the now-defunct low-carbohydrate diet craze and thorn in the side of bakeries and pasta makers, has filed for bankruptcy as U.S. consumers have tired of the once-sizzling fad...
...In its heyday, Atkins listed Goldman Sachs Group Inc. among its backers and analysts predicted an initial public offering. Its trademark red "A" logo appeared on a range of packaged foods and was featured in advertising for Subway sandwich stores and the T.G.I. Friday's restaurant chain...
...The low-carb craze peaked in early 2004, when over 9 percent of U.S. adults claimed to be on such a diet, according to market research firm NPD Group. That figure declined to 2.2 percent last month.
"The low-carb trend has sort of died on the vine," said Bob Goldin, executive vice president at Chicago-based food industry consulting firm Technomic Inc...
Thinking the real problem here is that Atkins simply didn't have enough bread to cover their debts.
Heh, I like the part where people on the Atkins diet were heading to their doctors in droves complaining of gout and kidney related issues. Der.
The Atkins diet came and went in the '70s, did the same in 2004. I wonder if it'll hit again in another 30 years?
Biggles
Posted by: Dr. Biggles | August 02, 2005 at 09:50 PM