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...Think Young" urged the Pepsi-Cola ad-and Herman W. Lay began thinking. Not about downing a soft drink but about acceding to a hard-to-resist proposal from Pepsi (estimated 1964 sales: $240 million) to merge with his Frito-Lay, Inc., which last year sold $184 million worth of such snacks as corn and potato chips, dip mixes, candied popcorn, pretzels and related products. At 55, Lay isn't so old. But Pepsi President Donald M. Kendall is only 43, and he is surrounded by a youthfully energetic executive team. "I like those fellas," said Lay. "I need...

Author: /time Magazine | Title: Mergers: Fizz & Chips | 3/5/1965 | See Source »

Last week the two companies that have fattened on the American craving for fizz and chips decided to nibble on that $4.5 billion market together. Unless stockholders or the Justice Department disapprove, Pepsi will swap $213 million worth of its shares for all of Frito-Lay. Herman Lay will be chairman, and President Kendall the chief executive of a new company to be called Pepsi...

Author: /time Magazine | Title: Mergers: Fizz & Chips | 3/5/1965 | See Source »

...among U.S. servicemen overseas, now finds that sales to Europeans are as high as those to Americans. Europeans have bought $1,250,000 worth of lots at Deltona developments near Daytona Beach and on San Marco Island off Florida's west coast. A Nürnberg accountant named Herman Boeckler grew so enthusiastic after a visit to his lots that he not only bought more property but formed a Deltona Club back home. Even some of Europe's lesser nobility have been attracted. One of them, Düsseldorf's blonde Baroness Praxedis von der Osten-Sacken...

Author: /time Magazine | Title: Investment: Land in the Sun | 3/5/1965 | See Source »

...STOP THE CARNIVAL by Herman Wouk. 395 pages. Doubleday...

Author: /time Magazine | Title: Books: You Must Go Home Again | 3/5/1965 | See Source »

Gogol was one of those writers who take up their country's venality as their cross. The closest U.S. equivalent of Dead Souls is Herman Melville's The Confidence Man. Gogol's confidence man is Chichikov (Vladimir Belokurov), an on-the-make bureaucrat who haggles with miserly and drunken aristocrats for their dead serfs (listed on the government tax rolls as alive) so that he may pose as a propertied man, float a mortgage loan, and make a fashionable marriage. Just as murder is war in miniature, Gogol's Chichikov is a comic common cold symbolizing...

Author: /time Magazine | Title: Theater: Stanislavsky's Ghosts | 2/12/1965 | See Source »

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