WSJ.com on Nelson Peltz
The Wall Street Journal Online has a long profile of “activist” investor Nelson Peltz, who is responsible for Heinz’s co-sponsorship of the Nathan’s finals:
Mr. Peltz also believed that Heinz was paying supermarkets too much to promote its products and provide good shelf placement. He said Heinz should seek visibility in other ways, like sponsoring the hot-dog eating contest held each Independence Day at New York’s Coney Island. The activist shareholder also took issue with the 11 billion single-serve ketchup packets Heinz sold each year to fast-food chains, schools and sports venues, calling them messy. His suggestion: Sell ketchup in dip cups like those used for barbeque sauce.
…
Sales and profits at Heinz are up. This past July’s hot-dog eating contest in Coney Island was festooned with inflatable Heinz ketchup bottles. As for messy ketchup packaging, Heinz says that apparently unbeknownst to Mr. Peltz, it had already been selling tens of millions of dip cups annually. “He said, ‘Why don’t we have dip cups?’ the senior Heinz employee recalls. “We do have dip cups.” The company is currently developing larger dip cups, it says.
Heinz stock is up 10.5% since Peltz became involved with the company. Peltz has been recently been accumulating shares of Kraft Foods. Perhaps he can get a Kraft brand to sponsor another eating contest.
Loading ...
Hall "Hoover" Hunt said (Registered July 13, 2006)
November 7, 2007 @ 8:37 am
Personally I would like to see a Kraft Easy Mac contest. Could you imagine an Easy Mac contest?!? It is delicious. Everybody eats that stuff. Mac and Chee is one of the best comfort foods. It is also a staple of the college student (who I think is a huge target group of eating contests).
Selfishly I would like an Easy Mac contest because it is one of my favorite foods and I think it would be an easy contest to go to capacity with. Yummmm. I am getting myself all hungry thinking about the chessy goodness.
Also, I just noticed on the Kraft website that Crystal Light is one of their products. Very cool. I think I know a few people using Crystal Light in contests already. (Patrick Bertoletti, Tim Janus, etc.). It was meant to be I guess.
SuperPaul said
November 7, 2007 @ 9:30 am
Hoover has a great idea – I’ll travel to be in a hands-free Mac and Cheese contest…they have to also have a kids division, I know two kids in my house who are ready, hungry, and focused on M & C!!
Crystal Light is one of my favorites for contests – no calories, the perfect anti-dote for meatsweats!!
Hall "Hoover" Hunt said (Registered July 13, 2006)
November 7, 2007 @ 10:02 am
I think a spoon requirement would be fair for the contest. Or maybe a fork is better for macaroni and cheese. Would a fork be too dangerous though for an eating contest though? Maybe a spork then! You gotta love the spork.