Word: cereals
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Dates: during 1990-1999
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...possible that breakfast-cereal manufacturers are out to eat one another's lunch? That's the impression that Kellogg's gave last week when the company announced price cuts averaging 19% on two-thirds of its product line (not included: best sellers Rice Krispies and Special K). The move came in the wake of sharp gains by the Post Cereal unit of Kraft Foods, owned by Philip Morris. Post lowered prices on its brands 20% on April 15, and quickly stole nearly 4 points of Kellogg's 35.5% share of this $8 billion market. "This is not a price...
...predictions of impending devastation in the PC industry, Grove thinks it's unlikely. His basis for that judgment? The same organ that digests his special cereal. "When I first came to this country in the 1950s from Hungary, people were mesmerized by cars. That's the kind of conversation you hear today about computers," he says. "Demand will stay strong." MMX, due this fall, may help...
Grove, who was in New York City last week to meet with analysts (word of another profitable year sent the stock up 5% last Friday), offered a glimpse of Intel's plans during an exclusive breakfast with TechWatch at the swank St. Regis Hotel. (Grove brought his own special cereal in a baggie, part of his diet since a bout with prostate cancer.) While Intel is guarding MMX details closely for fear of eating into Pentium sales, Grove promises enough agility and speed to handle glitzy applications, such as video telephony and 3D gaming...
...onetime colleague and lover Mike Sager. Cooke says that as a child she learned to lie as a way of avoiding her strict father's temper. Unfortunately, liars who indulge their vice publicly and get caught don't have many career options. "I'm in a situation where cereal has become a viable dinner choice," says Cooke, who is divorced and works part time at a department store in Kalamazoo, Michigan, for $6.15 an hour. She's talking now, says Sager, to "retrieve her name from the files of infamy," and to rev up her failed writing career. "What...
...blame on the cereal makers. After all, they're out to make money for their shareholders, and by that measure, they've been quite successful. Kellogg has generated a 19% annual return to shareholders between 1985 and 1995, making it a far better investment than, say, Exxon or IBM. And despite the staggering price rises, only recently have consumers started to change their behavior and buy something else. As he pondered Post's move, one rival industry executive put it this way, "People are predisposed to buy the cereals they prefer. Why should we do anything...