Word: daftness
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...Cola announced plans Wednesday to eliminate more than one fifth of its 29,000 global workforce, and its new chief warned analysts to lower their projected annual growth targets for the company. The axe fell on 3,300 U.S. jobs and 2,500 overseas positions as new CEO Douglas Daft sought to absorb the delayed impact of the global financial crisis of 1998-99, which had a dramatic impact on demand for U.S. soft drinks. "The key factor in the company's performance is a write-down of its assets in Russia and former Soviet territories, where...
...morally bankrupt, and when shown to the press last year, the pilot was wrongly lumped with the fall's genuine network sleaze for its mild (and funny) scenes of parental nudity. But Malcolm is a testament to the virtues of an imperfect home; Malcolm's fratricidal sibs and daft folks keep him grounded as he adjusts to life as a reluctant prodigy...
Fortunately for Coke's board of directors, diplomacy is just one of Douglas Daft's strengths. The 30-year company veteran has spent most of his career overseas, building successful businesses in the uncertain, even untrammeled markets of the Middle East and Asia. If Ivester seems almost uncomfortable outside the world of the beverage business or his native Georgia, Daft is a jovial former math teacher with a wry sense of humor, a diverse range of interests and a creative streak. He pushed to develop Coke's biggest seller in Japan, for instance, and likes to joke that...
Syrup may prove to be one of Daft's biggest challenges, assuming that he takes office as CEO next April. In what seems to many analysts to be an ever desperate bid to increase revenues, one of Ivester's most recent moves was to hike the price of Coke's concentrate by a steep 7.7%. In effect, that represents a penalty for the company's cost-conscious bottling affiliates. In the past, Coke has offset such cost increases by funneling hundreds of millions of dollars in financial assistance to its key bottlers. But bottlers expressed outrage at last month...
...contrast, in discussions with reporters in Atlanta, Daft struck a determined, confident note. The new millennium, he said "is the year of recovery for the world, and obviously our business will be part of that." The previous growth targets, Daft insisted, will be sustained. That made analysts nervous, because for all his attributes, Coke's new Doug was still sounding very much like the old Doug. Unless the tune changes, they say, the real value of this brand of carbonated sugar water is likely to be put to an even greater test...