March 29, 2016 |
As Coca-Cola and PepsiCo executives work to stop Mayor Kenney's proposed soft-drink tax, they are fighting the latest battle in a war to reduce the share that their products pay in taxes. In the late 1990s, the Coca-Cola Co. paid 36 cents of every dollar it earned as income taxes, its annual financial reports show. But for each of the last 10 years, Coca-Cola's overall tax rate has fallen below 25 percent. The beverage giant accomplished this by shifting plants and earnings to lower-tax countries and by accepting "tax incentive grants" from nations ranging from Brazil to Swaziland, all eager to host Coca-Cola operations, its annual reports show.
March 21, 2013 |
Honickman Group, of Pennsauken, will acquire Pepsi-Cola bottling operations on Long Island, N.Y., from another independent bottler, Pepsi Bottling Ventures L.L.C. (PBV). Terms of the transaction, expected to be completed during the second quarter, were not disclosed. Honickman's Pepsi-Cola Bottling Co. of New York currently operates in New York City's five boroughs and Westchester County. "Nassau and Suffolk counties provide the requisite scale for us to reinvest significantly in our make-sell-deliver capabilities and partner with PepsiCo to proudly reinvigorate our presence in the greater New York market," said Harold A. Honickman, chairman of the Philadelphia-area's largest soft-drink bottler.
May 10, 2012 |
Joseph Neubauer, best known as benefactor to some of the region's top cultural organizations, stepped down Tuesday as chief executive of Aramark Corp. after 29 years as its leader. Aramark, one of Philadelphia's largest companies, with a global workforce of 250,000, has hired Eric J. Foss, 53, a former PepsiCo Inc. executive, to succeed Neubauer as president and chief executive. The move marks the end of an era for the food-services and facilities-management company, which has known just five chief executives since 1936.
October 3, 2011
Arch Clark West, 97, the retired Frito-Lay executive credited with creating Doritos, died Sept. 20 in Dallas. Mr. West had a food-industry reputation when the Frito Co. recruited him as its marketing vice president in 1960. He had worked for Lever Bros. and Young & Rubicam in New York as a liaison between the creative teams and clients that included Jell-O. He was inspired to create Doritos after Frito merged with H.W. Lay & Co. in 1961. During a family vacation to California, "we were near San Diego and he stumbled on some little shack where they were making some interesting kind of chip," his daughter Jana Hacker said.
March 30, 2011
Plastic bottles. They're everywhere. They're clogging drains, floating in the Schuylkill and way too often being sent to landfills instead of recycling bins. As such, they've become eco-culprits. The industry has responded by coming up with better bottles, lighter bottles. Earlier this month, PepsiCo unveiled a bottle that is "plant-based" and still recyclable. I'm putting it out there as part of a new blog feature running every Friday: Green Gauntlet. Readers get to weigh in on whether a product is as green as purported.
February 27, 2010 |
Add Gatorade to the list of endorsement deals that Tiger Woods has lost. A representative for the drink, sold by PepsiCo Inc., confirmed late yesterday that it had ended its relationship with the golfer, who made a lengthy public apology last week for his infidelities. "We no longer see a role for Tiger in our marketing efforts and have ended our relationship," a Gatorade spokeswoman said. "We wish him all the best. " She said Gatorade would continue its relationship with the Tiger Woods Foundation.
December 31, 2008 |
Constar International Inc., a Philadelphia manufacturer of plastic containers dogged by losses since its 2002 spin-off from Crown Holdings Inc., filed for bankruptcy protection yesterday. The bankruptcy, prearranged with key creditors, will reduce debt by $175 million and eliminate $19.3 million in annual interest payments, Constar said. The deal will wipe out current shareholders, including Crown, which still owned 9.7 percent of Constar's shares. Not that shareholders had much to lose: The stock had already lost most of its value, closing at 15 cents a share Monday.
January 15, 2006 |
Even in his own time, Ben Franklin was a master of spin. Biographer Walter Isaacson called him America's "first great publicist. " How would he fare in today's ultra-image-conscious world? We asked three Philadelphia advertising teams to give Ben's outsize personality a modern makeover and bring him into the 21st century. Gyro Worldwide Advertising, which prides itself on attracting young customers, focused on Franklin's bad-boy side. "I really think he would have been having more fun than people are saying," Gyro chief executive officer Steven Grasses said of Franklin.
September 1, 2004 |
They don't call it the Grand Old Party for nothing. In cigar lounges and museums, on yachts and rooftops, in ballrooms and bowling alleys, Republicans are partying hard courtesy of some of the nation's biggest companies. Last night, you could have shot pool with the chairman of Goldman Sachs or been whisked away for a private showing of Cartier diamonds - before moving on to the Metropolitan Museum of Art for PepsiCo-sponsored cocktails at the foot of the Egyptian Temple of Dendur, circa 15 B.C. If, that is, you were on the GOP A-list (read big donors, movers and shakers)