Word: doughboys
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Dates: during 1980-1989
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...Morris hopes Kraft will not be as resistant to a takeover as Pillsbury, which is fighting a $5.2 billion offer from Grand Metropolitan, a British liquor conglomerate (J&B Scotch and Smirnoff vodka). Last week the company took out full-page newspaper ads that showed the normally cherubic Pillsbury Doughboy with a grim expression and wearing boxing gloves. Warned the ad: "We're not going to sit idly by while an opportunistic British liquor and gambling company tries to buy respectability...
...past year the Pillsbury Doughboy has not had much reason to let out his giggle. While Pillsbury enjoys strong sales of vegetables, baking products and other grocery items, its restaurant division, including the Burger King chain, has lagged. In the Minneapolis-based company's most recent fiscal year, earnings plummeted 62%, to $69 million, on revenues of $6.2 billion, as the company closed nearly 100 restaurants and sold its Godfather's Pizza chain...
...Pillsbury still looks appetizing to one investor. Last week Britain's Grand Metropolitan, a brewing and restaurant giant (1987 revenues: $10 billion), made a surprise $5.2 billion takeover bid for the Doughboy's company. Pillsbury is resisting the offer, but at $60 a share, it may be too good for stockholders to refuse. The bid sent Pillsbury stock, which had traded at less than $40, soaring...
...sensitive instruments. With the touch of a finger, he can tell the temperature of chocolate to within 2 degrees. Although his English is pretty good, Kumin might not understand the concept of the temperamental chef. He is usually as sweet as milk chocolate, yet no pushover like the Pillsbury doughboy. He stops on his rounds to correct a technique with gentle humor, nod his approval of a creamy filling and assess a student's attitude. Things have changed since Kumin's European apprenticeship began some 50 years ago. "In the old system," he says, "they made...
...teams--the Charlotte Hornets, the Miami Heat, the Orlando Magic, and the Minnesota Timberwolves--it made one particularly apt decision. Sending the Timberwolves to Minnesota--to fill in a void left by the Lakers in 1960--was an even better decision than headquartering Betty Crocker and the Pillsbury doughboy there...