JONATHAN P. FEENEY, CFA, joined Wachovia Securities in July 2003.
Previously, he was with SunTrust Robinson Humphrey Capital Markets as a
Vice President covering the food and beverage sector, including major
packaged food and beverage manufacturers as well as leading
distributors. Mr. Feeney's previous experience in this area includes
serving as Senior Research Associate with Lehman Brothers' leading
beverages and food research team, which was ranked number three in
Institutional Investor's 2000 and 2001 Polls. He also served as an
Analyst with Credit Suisse First Boston, covering small cap growth
companies in the technology area. He graduated from Harvard University
with a degree in Government. Profile
ERIC KATZMAN, Managing Director, joined Deutsche Bank Securities Inc. in
September 2000, and is currently a Senior Analyst covering the food
sector. Mr. Katzman has been recognized as a Wall Street Journal Best of
the Street three times. He has been ranked in the top three by the
Greenwich survey on several occasions. He has also been recognized as
part of Institutional Investor magazine's All-America Research Team.
Prior to joining the firm, he was with Merrill Lynch as the US
coordinator of food research, covering the industry since 1996. Prior to
the food sector, he was the Senior Analyst covering toys and leisure.
Earlier in his career at Merrill Lynch, he assisted with research
coverage on the cosmetics and household product industries. In addition,
he worked in economic research for Shearson Lehman Brothers and for
Israel's Ministry of Trade and Industry. He received his MBA in Finance
from New York University and his BA in Economics and Government from
Oberlin College. He is a Chartered Financial Analyst. Profile
DAVID NELSON is a Managing Director in the equities division of Credit
Suisse First Boston with responsibility for food and agribusiness
companies. His research approach emphasizes global trade, commodity
market supply/demand analysis, policy trends and EVA valuation analysis.
Mr. Nelson is a rated Institutional Investor All-American for food stock
coverage and the co-coordinator of the number one rated CSFB Global
Consumer team. Mr. Nelson has also been the top rated analyst for
agribusiness coverage in a survey of institutional investors by
Greenwich Associates for the past eight years. Immediately prior to
joining Credit Suisse First Boston, Mr. Nelson was Deputy Director,
Research and Senior Food and Agribusiness Analyst at NatWest Securities.
Previously, he performed economic analysis and lobbying duties for the
American Feed Industry Association in Washington, DC, and was Senior
Livestock Analyst for the animal health group of SmithKline Beecham. Mr.
Nelson has served as consultant to the U. S. Feed Grains Council on
Russian agriculture, an Advisory Committee member to the U.S. Department
of Commerce's Census of Agriculture, and to the Advisory Committee of
the National Soybean Processors Association. Mr. Nelson holds a
Bachelor of Science Degree from Northern Illinois University and an MBA
from George Washington University. Mr. Nelson is married with two
TWST: Jonathan, what has gone on with the food stocks so far this year?
Mr. Feeney: I think so far this year you've seen food stocks continue to