Word: crisco
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...before the emergence of the new Food and Drug Administration. Not the old, demoralized, anything-goes agency whose officials accepted bribes for approving untested generic drugs, but an FDA that seems to be rededicated to protecting the public. Last week the FDA ordered Procter & Gamble, the manufacturer of Crisco Corn Oil, along with Best Foods, which markets Mazola Corn Oil, and Great Foods of America, maker of HeartBeat Canola Oil, to cut out the "no cholesterol" business. While Best Foods and Great Foods stalled by saying they would work with the FDA to resolve the dispute, P&G went ahead...
Procter & Gamble made its mark with such homely household products as Crisco, Tide and Ivory soap, but now the Cincinnati-based giant is paying up for glamour. In a move to strengthen its worldwide beauty business, P&G (1990 sales: $24 billion) last week agreed to buy the Max Factor cosmetics firm and Betrix, a German makeup and fragrance manufacturer, from Ronald Perelman's debt-burdened Revlon for $1.14 billion in cash. The deal "speeds up the global expansion of the company by at least five years," said P&G chief Edwin Artzt, who has focused on foreign growth since...
...their offending products. Sokolof, 66, a building-materials manufacturer in Omaha who suffered a heart attack 22 years ago, has spent $2 million so far on his crusade. Says he: "People feel like they have been deceived by the food companies." Sokolof points out that Procter & Gamble's Crisco is touted as having no cholesterol, but it contains palm...
...could take two years for the Government to sort through the mound of data, conduct its own tests and allow fake fat to reach menus and supermarket shelves. But Wall Street is already optimistic that the maker of Ivory soap, Crest toothpaste and Crisco oil has its hands on the greatest food-industry breakthrough since, well, sliced bread. Within two days of the FDA filing, P&G shares jumped 10%, to 93 5/8. P&G (1986 revenues: $15.4 billion) has "hit a grand-slam home run," says Hercules Segalas, an analyst for the Drexel Burnham Lambert investment firm. "This...
...Bates client for 46 years, took away $100 million of its business, primarily because the combined agency would be handling many products of its nemesis, Procter & Gamble. Later P&G became disgruntled and pulled $85 million worth of Saatchi & Saatchi accounts, notably Luvs diapers, Bounty paper towels and Crisco...