Word: fritos
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...teenager can go through an extra-large taco, capital that could have been fueling growth at Pepsi. Says CEO Roger A. Enrico: "Our goal in taking these steps is to dramatically sharpen PepsiCo's focus." He needs to, given Pepsi's loss of global share. Pepsi will keep Frito-Lay, the undisputed king of snacks. This leaves Enrico free to return to the cola wars. Things are about to get interesting...
...catch is right there on the information label: "Olestra may cause abdominal cramping and loose stools." Both Frito-Lay and P&G claim their test marketing hasn't turned up any unforeseen health problems. Nevertheless, the Center for Science in the Public Interest, the watchdog organization that warned Americans against the fat content of movie popcorn, is lobbying the FDA to rescind its approval of olestra, claiming that the additive is not as harmless as claimed...
Remarkably, PepsiCo ably demonstrates how much gold there is in being the eternal silver-medal winner. The company is still a veritable junk-food juggernaut that includes Frito-Lay, which dominates the salty-snack industry the way you-know-who does soft drinks. There are also the fast-food restaurants Taco Bell, Pizza Hut and KFC, a division that is on the rebound. The entire company brought in revenues of $30 billion and profits of $1.99 billion in 1995. The stock, which recently split, increased some 70% last year...
...certain groups. It's not the time to become euphoric. All we have done is to raise the bar." Goizueta also knows that PepsiCo CEO Enrico is famous for parachuting into the company's troubled businesses and turning them around in short order. Earlier this decade he made Frito-Lay a killer. And last year he created a new recipe for the struggling restaurant chains. He is best known, however, for revitalizing Pepsi's soft-drink business in the 1980s. It could be time for an encore...
News of the Justice investigation puzzled legal experts, who noted that Washington hasn't challenged industry shelf-space practices in more than a decade. Apparently Frito-Lay has become something of a victim of its own clout. "They've driven all their competitors out of business by being too successful," says William Leach, who follows the food industry for the investment firm Donaldson, Lufkin Jenrette. "There's nothing unethical. They're just better at product development, marketing and execution. But there is no law against doing well." That, of course, is something the government is now trying to decide...