Further, organic choices like Cascadian Farms and Muir Glen and upscale brands like Haagen Dazs put it in a position to court aspirational and health-conscious consumers. Even in its core area, cereals, General Mills runs the gamut from healthier options like Cheerios and Chex to some of the highest sugar products on the market, like the famed "monster" cereals.

What this means is that the company is prepared to benefit from every level of recessionary cooking. Former restaurant goers who crave ease can use the company's prepared foods, while families that are looking to economize can use its base ingredients. What's more, with its considerable stable of comforting brands, the company should benefit from consumer unease and the move toward the familiar.

With this in mind, General Mills is predicting that its adjusted 2010 net will rise by 6-7 percent, from $3.98 per share to as much as $4.25. While not record-breaking, this represents an impressive growth outlook, given the current economic situation.