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BUSINESS
July 6, 2006 | From the Associated Press
Three people have been arrested and charged with stealing confidential information about drink recipes from Coca-Cola Co. and trying to sell it to rival PepsiCo Inc., federal prosecutors said Wednesday. The suspects include an executive administrative assistant at Atlanta-based Coke, Joya Williams, who is accused of stuffing documents and a new Coca-Cola product into a personal bag. Williams, 41, of Norcross, Ga.
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BUSINESS
June 9, 2006 | From the Associated Press
Wal-Mart Stores Inc. told Coca-Cola Co. that it would double its purchases of Powerade if the sports drink is delivered to its stores through its own warehouses rather than through the bottler system, and that it could jump to a private label if Coke can't do what Wal-Mart requests, the world's largest soft-drink maker said in a court filing. Coke warns that a private-label competitor to Gatorade could deprive Powerade of any future growth opportunities in Wal-Mart stores.
NEWS
April 13, 2006 | Dog Davis, Special to The Times
FROM an early age, we've been programmed to mix drinks. Give a kid access to a soda fountain and see the root beer/orange/Fresca concoction you get. Only rarely does our creativity succeed: Take golf legend Arnold Palmer, who one day will be known only for the iced tea and lemonade mixture bearing his name. In 2004, Coca-Cola introduced C2, an attempt to blend Coke Classic with Diet Coke.
BUSINESS
April 6, 2006 | From Bloomberg News
Coca-Cola Co. announced an overhaul of its compensation system for directors Wednesday, saying they will get paid only if the company meets its financial goals. Directors will be given share grants each year equal to $175,000. The grants will be payable in cash in three years provided the company increases earnings per share by 8% each year, Atlanta-based Coca-Cola said. Board members previously received an annual fee of $125,000, of which $50,000 was in cash and $75,000 in stock units.
BUSINESS
February 15, 2006 | From Bloomberg News
Coca-Cola Co. said billionaire investor Warren Buffett, the soft-drink maker's largest shareholder, would leave the board after 17 years. Buffett wants to spend more time managing holding company Berkshire Hathaway Inc., Atlanta-based Coca-Cola said Tuesday. Berkshire holds an 8.4% stake, worth about $8 billion, and will continue as a shareholder. Buffett joined the board in 1989, and his term expires April 19.
BUSINESS
February 15, 2006 | From Bloomberg News
Coca-Cola Co. was sued in federal court in Springfield, Mo., by 50 independent bottlers who say plans to change how Powerade sports drinks are delivered to retailers violate their agreements with the world's largest soft-drink maker. Wal-Mart Stores Inc. asked Coca-Cola and bottlers last year to deliver Powerade to its warehouses instead of to individual stores so the retailer could give the drink more shelf space and increase sales.
BUSINESS
February 8, 2006 | From Bloomberg News
Coca-Cola Co. said Tuesday that fourth-quarter profit fell 28% after it increased marketing to halt a decline in U.S. soda sales. Soda sales in the U.S. rose for the first time in almost a year after Coca-Cola boosted spending 12% to $2.29 billion. Net income dropped to $864 million, or 36 cents a share, on expenses to return overseas profit to the U.S. Excluding those costs, Coca-Cola earned 46 cents a share, exceeding analysts' average estimate by a penny.
BUSINESS
January 18, 2006 | From Associated Press
Coca-Cola Co. named company veteran Muhtar Kent president of international operations, a new position, as the world's largest beverage maker continued to centralize its leadership. Coke's chief executive, Neville Isdell, said it was premature to consider whether Kent, who would be responsible for all of the Atlanta-based company's operations outside of North America, could one day be his replacement.
BUSINESS
December 31, 2005 | From Reuters
Coca-Cola Co. on Friday said it was banned from another college campus this month when the University of Michigan halted purchases of the company's products because of concerns about the soft drink maker's labor practices in Colombia and environmental actions in India. The move by the school, which has more than 40,000 students, follows a similar ban this month by New York University, which has more than 50,000 students. The two are among Coke's largest university accounts.
BUSINESS
December 8, 2005 | From Reuters
Coca-Cola Co. backed its long-term earnings growth target and unveiled a marketing slogan that welcomes consumers to "The Coke Side of Life." Atlanta-based Coca-Cola, which has struggled for five years to boost sluggish soft drink sales and meet changing consumer tastes, said it still expected long-term growth in earnings per share in the high-single-digit range, as well as growth in operating earnings of 6% to 8%.
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