Word: pepsi
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Alfred N. (for Nu*) Steele is a 51-year-old executive who keeps a bottle on his desk and takes frequent swigs from it, even when he has visitors in his office. The bottle contains Pepsi-Cola, the drink that Steele took over two years ago when Walter Mack was kicked upstairs to chairman (later he left the company). At the time, Pepsi had gone flat: earnings were down 78% from their peak, dividends had been stopped. Since then, President Steele has proved that he has plenty of bounce to every ounce of his 208 Ibs. Last week he reported...
Crystal Balls. A veteran adman and onetime vice president in charge of sales at Coca-Cola, Steele knew what was wrong with Pepsi when he took over. The accounting system was so slipshod that management did not even know the production figures of some of its biggest bottlers, or the breakdown of its costs. Says Steele: "They were operating by gazing into a crystal ball." Steele brought in a bunch of old Coca-Cola hands, set up a detailed method of cost accounting. He slashed costs by eliminating executive bonuses (he incorporated his own in his $96,000-a-year...
Wonderful Town (Sat. 9 p.m., CBS-TV) brings back to television the snowy shoulders and sunny aplomb of Faye Emerson. Feverishly sponsored by Pepsi-Cola with animated cartoons, bubbling glasses, jingles and urgent testimonials, the new show intends each week to salute a different U.S. city. The opening program was dedicated to Boston. On hand, presumably to hail their native city, were Cartoonist Al Capp, born in New Haven, Conn.; Singer Georgia Gibbs, born in Worcester, Mass.; Cinemactor Jeffrey Lynn, born in Auburn, Mass.; Comic Ezra Stone, born in New Bedford, Mass., and Composer (Syncopated Clock) Leroy Anderson, born across...
...name among U.S. merchandisers as sales manager of Chicago's Marshall Field and as the man who had first persuaded dairies to put milk in paper containers. As marketing chief of American Can, he was the first to plug beer in cans. As sales manager of Pepsi-Cola, he sparked soft-drink sales with take-home cartons...
...heard Wall Street gossip that the Securities & Exchange Commission was looking into the tips on N.P. & L., carefully denied that he had intended to tip anyone. In fact, he said, he had gotten his dope out of a broker's letter reporting that Walter Mack, onetime boss of Pepsi-Cola, "was trying to buy control of N.P. & L. to be used as distributor for a new soft drink firm...