Word: coca-cola
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...nutritious imported foods, substituting them for traditional foodstuffs. Nestle's persuades people to buy its milk instead of relying on mothers' milk. Ritz sells crackers, not bread. Imported goods become status symbols and diets change, rarely for the better. In Zambia, Lappe and Collins report, doctors frequently write "Coca-Cola baby" on the progress reports of infants hospitalized for malnutrition; Zambian mothers, assuming Coke must be good for children because it is so expensive, feed it to their babies instead of milk. The picture the authors paint of the human toll of profit-maximizing techniques is not a pretty...
McDermott is paying about 15 times earnings for Babcock & Wilcox shares, a valuation usually accorded only to such blue chips as Coca-Cola or IBM. B & W's spotty earnings record suggests that it is not worth that much. Over the past decade the company's sales have leaped 170%, to $1.7 billion, but earnings have gone up only 60%, to $53 million...
...India last week, Coca-Cola was fast becoming more than the most popular soft drink in the country; it was turning into two four-letter words. Climaxing a four-year campaign against multinational companies in general and Coca-Cola in particular, the government in effect demanded that Coke turn over its secret drink formulas and 60% of its operations to Indian investors by next April or be expelled from the subcontinent. Minister for Industry George Fernandes, a leftist labor leader installed in his post by the new Janata Party government, charged that Coke was taking far more money...
...Coca-Cola Export Corp. in India now supplies Coke syrup to 22 Indian-owned bottlers employing some 6,000 people, and runs one plant of its own that makes the concentrate. Their growth, snorts Fernandes, is a "classic example" of how a foreign company can amass power by quietly focusing efforts on frills like soft drinks instead of on areas of intense national concern, such as high technology. He claims that Coke reaps 400% profit margins in its dealings with Indian bottlers...
...lone area where Galbraith feels sure he is on sound ideological ground is when he asserts the universality of bourgeois, materialist values, resulting in the convergence of capitalist, communist, and developing nations towards one social and economic model. From the Coca-Cola bottling plant in the Soviet Union to socialized health care in Britain, in the growth of the massive production plant in capitalist and socialist nations, and in the uniformity of architectural styles in Moscow and New York, Galbraith finds convergence of culture. He takes heart in the development, presumably because of its implications for peaceful co-existence between...