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What's the Kiewit connection? The employee-owned Kiewit began investing in its Omaha neighbor, MFS, in 1986, correctly anticipating the deregulation of the telecommunications industry. Kiewit then spun off its 40 million shares of MFS to employees last year. The biggest winner was Kiewit CEO Walter Scott Jr., whose 16 million shares of MFS were worth around $750 million as a result of the WorldCom merger...
...Pepsico CEO Roger Enrico is seeing an awful lot of red in his first few months as captain of the blue team. Throughout July the renowned cola warrior got to witness the marketing frenzy associated with the Games in Atlanta, a.k.a. the Coke Olympics. Coke is riding Olympic glory to an 8% increase in sales so far this year, twice as fast as its great rival...
...comes news from Europe, and it's even worse. Russia's gone red. Again. Coca-Cola CEO Roberto Goizueta told TIME that Coke has overtaken Pepsi in Russia, a market of huge size (150 million people) and scope, erasing the 10-year head start Pepsi enjoyed as the Official Party Cola. Coke opens its 12th plant there this week, staffed by locals trained in Coke's bottling university in Moscow. It's all part of Coke's relentless push across the continents. "The conclusion is obvious," says Goizueta with his typical detachment. "Our system has terrific momentum...
...Venezuela. For the past 50 years, Pepsi had been the choice of generations of Venezuelans, holding a 40% market share; the country of 21 million was one of Pepsi's Top 10 global markets. The relationship was cushioned by the friendship between PepsiCo boss Enrico and Oswaldo Cisneros, CEO of Embotelladras Hit de Venezuela, the Pepsi bottler there. But Cisneros became a Coke convert for a reported price of $300 million, a whopping chunk of cash for half interest in the business. The swiftness of the deal left Pepsi's regional president, Alberto Uribe, sputtering with rage: "Oswaldo Cisneros...
...folks in Atlanta are trying to keep their recent successes in perspective. Says Goizueta: "There's a feeling of euphoria in certain groups. It's not the time to become euphoric. All we have done is to raise the bar." Goizueta also knows that PepsiCo CEO Enrico is famous for parachuting into the company's troubled businesses and turning them around in short order. Earlier this decade he made Frito-Lay a killer. And last year he created a new recipe for the struggling restaurant chains. He is best known, however, for revitalizing Pepsi's soft-drink business...