the sky is not falling says company spokesman
Mexican food eatery Chipotle recently admitted that global warming might affect the availability of the fresh guacamole and salsa at the restaurant chain. The announcement caused quite a stir with people that love the chins food reports ABC News.
In fact, the uproar was so ferocious that Chipotle had to come back in and tell fans that the announcement was a "routine risk factor disclosure."
The company spokesman Chris Arnold said, "The sky is not falling."
Public firms have to disclose "risk factors" that run a gamut of factors from potential labor issues to competition and in this case the availability of fresh avocados. The part of the 10-K quarterly filing that got people riled up read:
"Increasing weather volatility or other long-term changes in global weather patterns, including any changes associated with global climate change, could have a significant impact on the price or availability of some of our ingredients. Any increase in the prices of the ingredients most critical to our menu, such as chicken, beef, cheese, avocados, beans, rice, tomatoes and pork, would adversely affect our operating results. Alternatively, in the event of cost increases with respect to one or more of our raw ingredients, we may choose to temporarily suspend serving menu items, such as guacamole or one or more of our salsas, rather than paying the increased cost for the ingredients."
It's not exactly rare for restaurants to be forced to stop serving certain foods due to cost increases. Chipotle has continued to serve foods in the past when costs went up unexpectedly.