July 4, 2008 |
Coca-Cola Co. agreed to settle a fraud lawsuit in which investors said they lost $1.75 billion after the soft-drink maker withheld information to boost its stock price. The $137.5-million settlement, filed in U.S. District Court in Atlanta, ends an eight-year battle. "We maintain these allegations are without merit and no admittance of wrongdoing is a part of this settlement," Coca-Cola said. Investors claimed that Japanese bottlers were forced to take excess syrup to boost sales, a practice called channel stuffing.
May 25, 2008 |
CONCORD, N.C. -- A 500-mile NASCAR race is grueling enough for its 43 drivers. But 600 miles? "It's going to be a long, long night," Jeff Gordon said of today's Coca-Cola 600 Sprint Cup race at Lowe's Motor Speedway. "It's going to be tough, it always is." When the race debuted 48 years ago with the opening of Lowe's (then called Charlotte Motor Speedway), the extra 100 miles were added to help it stand apart from the Indianapolis 500 on Memorial Day weekend.
February 14, 2008 |
Coca-Cola Co. on Wednesday reported a 79% jump in fourth-quarter profit and maintained its growth targets despite a slowing U.S. economy. The Atlanta-based company said it earned $1.21 billion, or 52 cents a share, for the three months ending Dec. 31, compared with a profit of $678 million, or 29 cents, a year earlier, when the company took a big impairment charge at its largest bottler. Excluding one-time items, Coca-Cola said it earned $1.36 billion, or 58 cents a share, higher than the 55 cents a share analysts surveyed by Thomson Financial were expecting.
September 1, 2007 |
Coca-Cola Co. bought a 20% stake in beverage developer Brain-Twist Inc. Terms were not disclosed. Coke also said it would stop producing coffee-flavored Coca-Cola Blak soda in the U.S., 16 months after its introduction.
August 6, 2007 |
Placido Osuna points to a crudely stitched scar on his belly and thanks God for the little green herb that his sons encouraged him to grow instead of tobacco and cotton. "Stevia saved my life," says the 68-year-old farmer, dressed in flip-flops and an open shirt, with a machete tucked into his belt.
June 9, 2007 |
The Coca-Cola Co. wants the real thing -- in this case, three rare Norman Rockwell paintings. The beverage company is searching for missing one-of-a-kind oil paintings that it commissioned from the Americana master more than 74 years ago. Each could be worth more than $500,000 if sold at auction. The paintings were among six works depicting children that Rockwell did for Coca-Cola's advertising campaigns of the late 1920s and early 1930s.
June 6, 2007 |
Coca Cola Co. is launching a conservation program that aims to return more than 75 billion gallons of clean water a year to the environment -- enough to supply Los Angeles for four months. As the world's largest soft-drink maker, Coke depends on water. But it uses far more in the manufacturing process than in beverages, and most of that winds up as wastewater. Coke aims to account for all the water it uses by reducing its use, recycling and replenishing supplies.
May 30, 2007 |
Coincidentally, Casey Mears scored his first NASCAR Nextel Cup victory on the same day as the Indianapolis 500, a race his uncle, Rick Mears, won four times. But as he watched on television last Sunday while Casey, squeezing every drop out of a dwindling fuel load when others had to pit for gas, won the Coca-Cola 600, Rick was struck by another coincidence.
May 26, 2007 |
Coca-Cola is betting big that Glaceau will help expand its water and energy drink offerings and jump-start North American sales. On Friday, the world's largest beverage maker said it would buy the maker of Vitaminwater for $4.1 billion in cash. Coca-Cola executives said the price tag, which is nearly twice what Glaceau's estimated value was less than a year ago and represents Coke's largest acquisition ever, was worth it.
May 25, 2007 |
Penske Racing teammates Ryan Newman and Kurt Busch swept the front row in qualifying Thursday for NASCAR's Coca-Cola 600 Nextel Cup race Sunday. Newman won his fourth 600 pole with a lap of 185.312 mph on the 1.5-mile Lowe's Motor Speedway, while Busch was second at 185.065 mph, both in Dodges. Coincidentally, Helio Castroneves of Roger Penske's team is on the pole for Sunday's Indianapolis 500 in the IndyCar Series. While Penske has 14 Indy 500 wins, his Cup teams have never won at Lowe's.