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Newspaper
The Gaston Gazette
Location
Gastonia, North Carolina, United States of America
Date
Dec 05, 2000
Page
10
The nation’s No. 1 poultry producer merges with a major meat company. It breeds, processes and markets chickens and Cornish game hens, also producing tortillas, chips, animal feed, and swine. IBP Inc maintains top beef and pork roles, selling boxed beef and processed meats.
U S housing data show new single family home sales slipped 2.6 percent to a seasonally adjusted annual rate of 928,000 in October. Prices climbed to record levels with the median at 174,900 dollars and the average at 218,400 dollars, signaling a still vibrant but moderating market.
A dense calendar lists events from Cleveland Community College and Gaston Chamber of Commerce including seminars on insuring small businesses and small claims, a textile club meeting with Jim Booterbaugh, the Relatives Inc fundraiser, turfgrass conference, HR equality, and a crisis management seminar. Attendees may pre-register via the provided local phone numbers and visits.
Dana Lyon, ex-Wired publisher, debuts One, a San Francisco based design magazine, with a 192 page first issue featuring Karim Rashid and Kobe Bryant sneakers. Backed by 6 million in venture capital, the title aims to capture a fashionably visual society amid a challenging magazine market as postage and paper costs rise and ad growth slows.
The deal, approved by both boards, values Quaker Oats at a share exchange of 2.3 PepsiCo shares per Quaker share and faces regulator scrutiny. Enrico assures leadership changes with Reinemund as chair and CEO, Nooyi as president, Morrison joining as vice chair, and Quaker’s board allowed back out if PepsiCo stock drops below 40 for 10 random days prior to closing.
PepsiCo plans a 13.4 billion stock acquisition of Quaker Oats, expanding its portfolio with Gatorade and food brands such as Quaker cereals and Rice-A-Roni. The move positions PepsiCo against Coca-Cola, leveraging Gatorade’s distribution to boost its sports drinks and snacks business.
CHICAGO AP Quaker Oats Co finalizes a $13.8 billion deal to merge with PepsiCo Inc ending a lengthy struggle over Gatorade. Analysts credit CEO Robert Morrison for steering a shift from disappointing cereals to grow Gatorade and core snacks while expanding international reach and flavors.
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