American Licorice Company banks on capital investments to carry it through tough times
UNION CITY, Calif. American Licorice Company is counting on its “rainy day” savings funds to carry it through economic hard times, The San Francisco Chronicle this week reported.
The maker of well-beloved licorice treat Red Vines has said that it hopes that the $10 million in capital investments the company has banked in good years will be enough to carry it through the current cash-poor economy.
“We won’t call it recession-proof, but licorice has always held its own. It’s kind of a comfort food,” American Licorice plant manager John Nelson told the Chronicle. Still, touch times lay ahead for many independent companies. “Lines of credit are being frozen or reduced. … Or if they are new requests, may not be approved.”
To help buoy the effects of marketplace money drain, Nelson told the media, American Licorice Company is constantly seeking ways to improve productivity and efficiency. The company will also continue investing, he said, in order to keep its profit dollars flowing.
Dr Pepper Snapple Group names new chief marketing officer, other shifts in management
PLANO, Texas Dr Pepper Snapple Group has announced a change to its managerial lineup; former senior vice president of marketing Jim Trebilcock has been bumped to the position of chief marketing officer, the company has said. Other management adjustments have also been made in the course of a wider reorganization effort, according to reports. Trebilcock, a 21-year veteran, will now report to president and chief executive officer Larry Young.
In other moves, former executive vice president of marketing and research and development, Randy Gier, has parted from the company; Rodger Collins assumes the lead of DPS’ finished-goods business; Mexico and Caribbean divisions president, Pedro Herran, will now also take on heading corporate strategy; and vice president of corporate communications Tina Barry will also take on a new corporate affairs role. Other management moves also will effect supply chain operations and other marketing divisions.
Dr Pepper Snapple Group currently ranks as No. 3 in the U.S. carbonated soft drink business, following Coca-Cola Company and PepsiCo. Reports have stated that DPS’ annual sales total around $5.7 billion.
Authorities say Chinese government was warned about food production standards
SHIJIAZHUANG, China Chinese authorities have said that the country’s food producers as well as bureaucrats had plenty of warnings about poor safety and quality standards in food and drug production, but failed to respond before milk contaminated with an industry additive called melamine was used in products such as baby formula and candy, The New York Times today reported.
China’s Prime Minister Wen Jiabao had promised about a year ago to initiate a nationwide review of safety standard for food, drug and other consumables made in China to assure that regulations were kept and safety standard maintained, reports said. Additionally, the Chinese government put $1.1 billion towards inspecting food and drug production companies and assigned 300,000 inspectors
Prime Minister Wen publically apologized for the release of the tainted baby formula to market which has so far led to 53,000 reports of children getting sick and at least three deaths. Analysts have also said that the scandal has devastated the dairy industry in China, according to reports.