Word: pepsico
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Lawyers are already striking indirectly at food companies by examining their contracts with local school boards. In almost half of U.S. school districts, officials allow companies such as Coca-Cola and PepsiCo to sell soda in school vending machines or on-campus stores. Some school districts have exclusive arrangements with a soda company, which gets an opportunity to build brand loyalty among young consumers. In return, cash-starved schools receive up-front payments and in many cases a percentage of sales. The National Soft Drink Association claims that less than 10% of school districts have these exclusive arrangements, but that...
...advocacy groups, school boards, and state legislatures, the three largest soft-drink companies announced last week that they would stop selling soft drinks and other sugary beverages in U.S. schools. The agreement, brought about by negotiations between the Alliance for a Healthier Generation and the beverage companies Coca-Cola, PepsiCo, and Cadbury Schweppes, will go into effect beginning next fall and will affect over 35 million children. Under the agreement, milk, juice, and bottled water will replace soft drinks, and their portion sizes will be capped. Many individual school districts and states have already taken steps to reduce the presence...
...PepsiCo, whose Frito-Lay snack foods represent 62% of its North American business, in September 2002 became one of the first food processors to cut trans fats, starting with its Doritos, Tostitos and Cheetos lines. The company says the conversion, which involved modifying 187 production lines and required 250 analytical tests of the reformulated snacks, trimmed $22 million from its bottom line in 2003. Taking the trans fats out of a product without affecting taste is often far more complex and costly than developing a new one from scratch. That's partly why Kraft had to be pushed to speed...
PATRICK OLLIER, French Deputy, on rumors of a possible bid by PepsiCo for France's Danone
...Pepsi-Cola USA, about new Coke: "Clearly this is the Edsel of the '80s. This was a terrible mistake. Coke's got a lemon on its hands, and now they're trying to make lemonade." On Wall Street, though, Coke jumped $2.37 a share on the announcement, while PepsiCo stock sagged 75¢. In Washington, Democratic Senator David Pryor of Arkansas, an admitted Cokeaholic, expressed his jubilation on the Senate floor. In a speech between a debate over disinvestment in South Africa and action on the Safe Drinking Water Act, Pryor called Coke's capitulation "a very meaningful moment...