Word: pepsico
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Commerce Secretary-designate Ronald Brown was all set to be the guest of honor at a lavish Kennedy Center gala for which a group of corporations were reportedly asked to ante up $10,000 apiece. Among them were Anheuser-Busch, J.C. Penney and PepsiCo. Brown apparently failed to see any prospective conflict of interest, until the press and Clinton himself thought otherwise. Brown canceled...
...federal jury in New York City made the first award to relatives of a victim of the 1988 bombing of Pan Am Flight 103 over Lockerbie, Scotland -- and it was a whopper. The family of Robert Pagnucco, an assistant general counsel at PepsiCo and one of the 270 people killed in the terrorist bombing, was granted $9.2 million. A previous trial had held Pan Am responsible for its lax security. Although the defunct airline plans to appeal that finding, its insurers could face more million-dollar verdicts in the 200 or so compensation cases brought by the families of other...
...flooding thousands of stores in the Southern U.S. with cans and bottles, displays and posters, backed by a TV ad campaign, to introduce its newest product, PowerAde. It's a drink made for athletes and, in the words of a Coke spokesman, "anyone who works up a sweat." At PepsiCo, Inc., plans are well under way for a summer rollout of its new drink for jocks and those who aspire to be: All Sport. Other large companies are entering the fray with similar products -- Dr Pepper/Seven-Up with a drink called Nautilus, and A&W Brands, Inc., with a player...
Ironically, India has found an ally in a U.S. company. After four years of negotiations, PepsiCo last week began to sell its soft drinks in India. Over the next ten years, PepsiCo and its Indian partners are expected to invest $1 billion in their joint venture. As a result, Christopher Sinclair, president of Pepsi-Cola International, has urged U.S. Trade Representative Carla Hills not to impose any economic sanctions against India. Says Sinclair: "We feel that punitive actions by the U.S. would only derail things." Hills has until July 16 to make her decision...
...first the deal sounds like a bad perestroika joke: How many bottles of Pepsi can a Soviet citizen buy with a merchant ship and a case of vodka? But the barter agreement that PepsiCo and the Soviet Union signed last week is worth a serious $3 billion. In the largest deal ever struck with an American company, the Soviets will trade ships and spirits for expanded Pepsi production. The complex barter system was necessary because the ruble is not readily convertible to Western currency. PepsiCo, which currently produces 40 million cases of soft drinks in the U.S.S.R. each year, will...