Word: bacardis
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...hearty marketing themes. In the Miller tent, the company was giving away neon baseball caps to anyone who could show proof of purchase for two cases of the beer. Up the beach, Anheuser-Busch had installed a 20-ft.-tall inflatable six- pack of Budweiser. Poolside at Howard Johnson, Bacardi was advertising rum- and-orange-juice cocktails for 25 cents. Read a marquee outside one beachfront bar: PARTY 'TIL YOU PUKE...
...Hara and Del Valle, two nonfamily members who were brought in to run the company a decade ago, won the support of many of the Bacardi heirs for the privatization plan, but another faction rose up in opposition. The dissidents feared that they would lose their voice in management and that removing the stock from public trading would hurt its value. Said a discontented family member: "The reasons put forth in the proxy statement are not sufficiently weighty to put the company through this trauma...
Over the years the Bacardi heirs have established a complicated network of independent companies stretching from Mexico to Europe. Many of them share the same officers, and all stick to the same standards for producing Bacardi rum. Puerto Rico-based Bacardi Corp. is the only portion of the empire that is a publicly traded company, and that is the point of contention. Last year Bacardi Corp.'s two top officers, Chairman Alfred O'Hara and President Manuel Luis Del Valle, launched a campaign to take the Bacardi Corp. private. In a proxy statement, they said such a move would "reduce...
...recent months top Bacardi officers seem to have been conducting a purge of family members who oppose the privatization plan. Those let go include Bacardi Corp. Vice President Adolfo Comas Bacardi; Jorge Bacardi, vice president of the Bahamas operation; Toten Comas Bacardi, a quality-control manager in Europe; and Alberto Bacardi, president of a Canadian subsidiary...
...economy has a rough road ahead. -- A family feud rocks Bacardi' s rum empire. -- Fake fat promises plump profits...