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DIED. THURL RAVENSCROFT, 91, versatile voice-over specialist whose booming "Gr-r-eat!" made Tony the Tiger, mascot of Kellogg's Frosted Flakes, one of TV's most recognized commercial pitchmen; of prostate cancer; in Fullerton, Calif. "I've made a career out of one word," he said...
Management buyouts are evolving into offensive weapons too. "They can be viewed as offers made by internal raiders," notes Alfred Rappaport, professor of accounting at Northwestern University's Kellogg School of Management. In one snarled battle, investors, led by the former chairman of a Beatrice acquisition, offered nearly $5 billion for Beatrice, which last month rejected the bid. Now Beatrice (fiscal 1985 sales: $12.6 billion) may be turning to outsiders for help. Said one Chicago lawyer: "Their investment bankers are burning up the phone lines looking for a white knight...
...with a grant from the W.K. Kellogg Foundation, Redmond's nonprofit group, the Institute for Community Resource Development, has teamed up with five Chicago universities to study Austin's broader food needs. They have already started nutrition classes and salad bars in neighborhood schools and are planning to build a large food coop. Says Redmond: "Eating is a political act." --By Margot Roosevelt
...Gutierrez asked Jenness to join the Kellogg board, where he became one of the more vocal advocates of the turnaround strategy. Kellogg had been suffering at the hands of consumers who were flocking to cheaper cereals--or finding other things to eat altogether. The company's initial reaction was to discount, which only hurt the bottom line more. At the core of Gutierrez's fix-it strategy was a shift in financial goals: instead of focusing on the number of pounds of product sold, executives started looking at performance in terms of dollars. As a result, the company put increased...
Going forward, Jenness will need to retain key players like COO David Mackay who were passed over for the top job. And then there is the challenge of anticipating Americans' fickle eating habits. Jenness was in the boardroom for Kellogg's reaction to the low-carb craze--cereals with a third less sugar and products like low-carb Eggos--but that trend is increasingly in the rearview mirror. What's next? General Mills is betting that broader health consciousness is here to stay and is in the process of converting its brands to whole grains. Kellogg will instead churn...