🚀 go-pugleaf

   Listen,

   Why don't you go out and *buy* Pepsi stock with your money, instead of
trying to hurt the company you work for?

   Oh, of course, that would take *brains*.....



In article <3371406A.68C2@pepsico.com>, employee@pepsico.com wrote:

> ----------------------NEWS RELEASE-----------------------
> 
> As international markets warm up to Pepsi, Roger Enrico and the PepsiCo
> Board of Directors leave employees out in the cold.
> 
> Pepsi stock prices are up over 20% from January and reached a new high
> this week as 1st qtr. earning exceeded expectations.  Bonuses for the
> Board of Directors ranged from $200,000 to over 1.1 million dollars for
> Enrico, but in a unanimous decision they voted not to issue Share Power
> grants to any of the 130,000 qualifying PepsiCo employees.
> 
> Share Power grants have been issued since 1989 and are the only type of
> retirement or profit sharing that the company has for most of it�s
> employees, many who work at or just above minimum wage.
> Each July, Share Power grants provide stock options equal 10% of the
> employees prior year wages and compensation and become vested at a rate
> of 20% each year over a 5 year period.
> 
> In a mailing from PepsiCo, employees were told that the grant will not
> be issued due to the pending spin off of the restaurant division. 
> Directed to the restaurant employees, they say:  "You will soon be
> focusing your efforts on the future success of a new restaurant company,
> not PepsiCo, so granting new PepsiCo options is no longer appropriate."
> 
> This contradicts an earlier paragraph saying that all unvested options
> will continue to vest, but stock options held by restaurant employees
> will be converted to options issued by the new restaurant company after
> the spin off.
> 
> Enrico�s direction to the restaurant division to "focus on your own
> company" has Coca Cola and other soft drink bottlers eagerly awaiting
> the opportunity to bid for the for national account prices in the new
> company.
> For Coca Cola, an alliance with the new restaurant company would allow
> them to dominate the US market by serving their products in the two
> largest restaurant companies in the world.   
> 
> Since the grants are issued in July, there is still time for Roger
> Enrico to appeal the boards decision.  Pepsi has approx. 207,000
> individual share holders and in 1996, 130,000 employees received Share
> Power grants.  The next shareholders meeting could be very interesting
> as Enrico and the board members try to justify their bonuses while
> taking them away from the employees who can  now be voting
> shareholders.   
> 
> � If you are currently an employee in the PepsiCo family or just don�t
> like to see corporate executives profit at the expense of the employees,
> join us.  Voice your 
>      opinions to PepsiCo Bottling Group Consumer Affairs at:
> 1-800-123-4567, Mail your comments to Roger Enrico c/o PepsiCo Inc.
> Purchase , NY 10577 or try an E-mail at roger.enrico@pepsico.com.
> 
> Please forward this on to your friends and favorite newsgroup.
> Thank you.

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"Impending doom takes all the fun out of decadent living!" -- Yago