Power Breakfast: Coke CEO bullish on economy, heating homes, port, Hooters, T-Mobile, tax cuts

Coke CEO Muhtar Kent said unfavorable tax rates on foreign profits and low national investments in education and entrepreneurship in the United States worry him, AJC staffer Bob Keefe reports.

But Kent, who spoke Thursday at the National Press Club in Washington, made it clear he’s very bullish on the U.S. economy, Keefe writes.

“Our darkest days have passed,” he said. “We’re beginning to see the first rays of light through that long, dark tunnel.”

He pointed out that the volume of Coca-Cola’s beverage sales has grown for two straight quarters in North America — the first time that has happened in five years, Keefe reports.

The company’s $12 billion purchase of its biggest bottling company, Coca-Cola Enterprises, and a $115 million expansion of a citrus processing plant in Florida earlier this year, he added, are evidence that the company feels good about the direction of the economy.

“Our bullishness on America is not some form of blind optimism,” Kent said. “There are trends and dynamics here that are real and tangible and have long-term positive implications.

Also in the AJC:

In other media:

- Henry Unger, The Biz Beat

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2 comments Add your comment

TnGelding

December 3rd, 2010
7:25 am

And he isn’t by himself. He has every right to be worried though about our lack of investment. And the GOP wants to reduce it even more. I guess it didn’t see all those wealthy folks curled up in a fetal position under their beds during this most recent Wall Street calamity. The government had to act.

http://www.thecitywire.com/?q=node/12151

shadow7071

December 3rd, 2010
8:27 am

There are two messages here. First, Coca-Cola is worried about the U.S. economy and the fundamentals that spawn economic growth. Second, Coca-Cola is determined to sell more stuff in the U.S.