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660 pounds of cocaine seized by feds from boat sailing near Puerto Rico
Federal agents seized $6 million worth of cocaine and arrested two men from the Dominican Republic in waters south of Puerto Rico, officials said Thursday.
More than 660 pounds 300 kilograms of cocaine were found aboard a boat traveling south of the U.S. territory on Wednesday, according to U.S. Customs and Border Protection.
It is the latest multimillion-dollar drug seizure this year in waters surrounding Puerto Rico. In July, federal agents seized $4.6 million worth of cocaine west of the island. Two U.S. citizens were arrested.
Puerto Rico is considered a transit point for drugs being smuggled to the U.S. mainland and other countries.
In June, the U.S. Coast Guard said it offloaded more than 4,800 pounds of cocaine worth over $63 million at a port in Florida after officials said Coast Guard officers fired at and sank a speedboat suspected of smuggling drugs in the Caribbean Sea.
About a week before that, a separate Coast Guard crew offloaded $468 million worth of cocaine in San Diego. That haul was the result of eight separate operations off the coasts of Mexico and Central and South America.
Bricks of cocaine have also been washing up on Florida beaches in recent months — at least five times since the beginning of the year.
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Tupperware files for bankruptcy amid slumping sales
Tupperware and some of its subsidiaries filed for Chapter 11 bankruptcy protection, the once-iconic food container maker said in a statement late Tuesday.
The company has suffered from dwindling sales following a surprise surge during the COVID-19 pandemic, when legions of people stuck at home tried their hands at cooking, which increased demand for Tupperware’s colorful plastic containers with flexible airtight seals.
A post-pandemic rise in costs of raw materials and shipping, along with higher wages, also hurt Tupperware’s bottom line.
Last year, it warned of “substantial doubt” about its ability to keep operating in light of its poor financial position.
“Over the last several years, the Company’s financial position has been severely impacted by the challenging macroeconomic environment,” president and CEO Laurie Ann Goldman said in a statement announcing the bankruptcy filing.
“As a result, we explored numerous strategic options and determined this is the best path forward,” Goldman said.
The company said it would seek court approval for a sale process for the business to protect its brand and “further advance Tupperware’s transformation into a digital-first, technology-led company.”
The Orlando, Florida-based firm said it would also seek approval to continue operating during the bankruptcy proceedings and would continue to pay its employees and suppliers.
“We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process,” Goldman said.
The firm’s shares were trading at $0.5099 Monday, well down from $2.55 in December last year.
Tupperware said it had implemented a strategic plan to modernize its operations and drive efficiencies to ignite growth following the appointment of a new management team last year.
“The Company has made significant progress and intends to continue this important transformation work.”
In its filing with the U.S. Bankruptcy Court for the District of Delaware, Tupperware listed assets of between $500 million and $1 billion and liabilities of between $1 billion and $10 billion.
The filing also said it had between 50,000 and 100,000 creditors.
Tupperware lost popularity with consumers in recent years and an initiative to gain distribution through big-box chain Target failed to reverse its fortunes.
The company’s roots date to 1946, when chemist Earl Tupper “had a spark of inspiration while creating molds at a plastics factory shortly after the Great Depression,” according to Tupperware’s website.
“If he could design an airtight seal for plastic storage containers, like those on a paint can, he could help war-weary families save money on costly food waste.”
Over time, Tupper’s containers became popular that many people referred to any plastic food container as Tupperware. And people even threw “Tupperware parties” in their homes to sell the containers to friends and neighbors.
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JD Vance echoes Trump, blames Democrats for apparent assassination attempt
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