Word: pepsico
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...firm, and Reader's Digest, have decided to auction off hundreds of millions of dollars' worth of art, like the Modigliani to the right. Half of the Fortune 500 have collections of consequence. Among the largest collectors: Equitable, which owns hundreds of works, including murals by Thomas Hart Benton; Pepsico, famed for its sculpture garden with pieces by Henry Moore; Paine Webber, which has works by the likes of Willem de Kooning and Jasper Johns; Sara Lee, which just gave some of its best items to museums; and Forbes. Malcolm collected everything from Faberge eggs to toy soldiers...
...private Catholic college in Ohio, he was less worried about getting in than about how his family would come up with the more than $20,000 a year it was going to cost. Thomas Wartmann, Christopher's dad and a route salesman in the Frito-Lay division of PepsiCo, earned just $38,000 last year, and Christopher's mother Eva earned $17,000 as a tennis coordinator at a country club. They faced a challenge common to the families of more than a million aspiring college students each year: how to pay the tuition, room and board that, without some...
Thomas Wartmann deserves high marks as well. As a 25-year employee of PepsiCo, he had heard about the company's generous scholarship programs and made a mental note to have Christopher apply for one when the time came. Christopher did apply and "let out a whooping scream" when he won the maximum amount: $8,000. The University of Dayton kicked in $7,500 in scholarship and grant aid (money that won't have to be paid back), leaving the Wartmanns with a bill of just $5,500, which they plan to pay in 10 monthly installments of $550 each...
...sure, the Wartmanns are lucky. PepsiCo sets aside more than $1.5 million to dole out to employees' kids each year. But this one family's success carries a lesson for every family, whether your child is 18 months or 18 years away from freshman year. In spite of the record-high sticker prices, now is actually a great time to be headed for the halls of higher learning--right on the heels of Chelsea Clinton. Since her dad, the President of the U.S., has already paid a year's worth of tuition at Stanford, one of a growing list...
...author is a hedge-fund manager. He currently owns option calls on Pepsico. His regular musing on the stock market can be found on the Web at TheStreet.com