The U.S. Department of Agriculture fined Tallgrass Beef Co. LLC for not making timely payments for livestock. The stated fine is nearly $403,000, but the department said that will be reduced to about $50,000 once Tallgrass catches up on its obligations.
Tallgrass is owned by broadcast personality and documentary producer Bill Kurtis. Kurtis said that the recession has been hard on his 7seven-year-old business, reports the Chicago Sun-Times. A couple of years ago, his company had overdue bills totaling $1.6 million and was dealing with slow payments from its vendors.
“We will make it, and we already have new investors lined up, ready to get in,” Kurtis said. “The prognosis is very good. The trend is to eat healthier food.” Grass-fed is regarded as healthier than the grain-fed kind.
The USDA fined Tallgrass for acting like a packer when it failed to maintain a bond or other financial conditions of the Packers and Stockyards Act.
Source: Chicago Sun-Times