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Kraft Changes The Name Of Its Global Snack Business And Confuses Everyone (KFT)


Kraft Snacks

March 21--Kraft Foods is proposing to change the name of its global snacks business to Mondelez International Inc. when it splits into two companies this year.

Pronounced moan-duh-leez, the name is meant to convey "delicious world," using a derivation of the Latin word for world, and the Kraft-employee-coined word "delez," using Romance language roots to signify "delicious."

As a standalone company, the $35 billion global snacking company, with brands like Oreo, Ritz, Tang and Trident, will do at least 80 percent of its business outside of North America.

Kraft's North American grocery business, with revenue of $18 billion, is keeping brands including Kraft Singles, Kraft Macaroni & Cheese and Planters. That company will retain the Kraft Foods name, but not necessarily the current "KFT" stock ticker.

The company also confirmed Wednesday that its North American grocery business will remain in Northfield, at Kraft's headquarters on Three Lakes Drive. The company will consolidate employees from Glenview, its beverages division in Tarrytown, N.Y., and its Planters business in East Hanover N.Y.

The global snacks business will be headquartered in Deerfield. Kraft is in negotiations for a lease there, a spokesman said, and so the address was not disclosed. The spinoff is expected to take place in the fourth quarter.

In an interview, Kraft's global chief marketing officer Mary Beth West, said the snack company was looking for a name that underscored the global scope of its business, and paid homage the Kraft's "make today delicious" mantra.

"We're trying to create the thought of a house of brands, as opposed to a branded house," she said. "We really want a unifying umbrella under which all of our fabulous iconic global brands can live."

Additionally, most consumers buy their snacks based on the product name, not the name of the company on the back.

"In many ways this isn't a consumer-facing name, it's a company name," West said. However, Kraft does plan to market the new name, assuming it launches this year.

The name is subject to a shareholder vote in May, but the company has reserved the ticker "MDLZ" in the event of passage.

The Mondelez logo, which the company was unable to release, is a "Mondelez" spelled out in a purple, cursive font with small, red teardrops on either end, and the word "International" nestled underneath.

Kraft asked for employee suggestions for a new name last fall.

Mondelez, in different forms and spellings, was submitted by two employees, General Counsel Marc Firestone, based in Northfield, and Johannes Schmidt, director, information systems strategic applications, based in Vienna.

Kraft spokesman Michael Mitchell said the name has been tested with focus groups in 28 languages to avoid any unfortunate translations, or idiomatic expressions.

eyork@tribune.com -- Twitter: @emilyyork

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Source: http://www.legaldebthelponline.com/2012/03/21/senior-quotes/

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It Turns Out The Creator Of Grand Theft Auto Bought Truman Capote's Brooklyn Townhouse For A Record Sum


truman capote house

Earlier this month, we learned that a Brooklyn Heights townhouse once occupied by Truman Capote sold for $12.5 million, a record price for a townhouse in the borough.

Now, the New York Observer has discovered that the buyer of the house is none other than Dan Houser, co-creator of the uber-successful Grand Theft Auto franchise.

While the home beat the previous record for a Brooklyn townhouse by $1.5 million, it was still deeply discounted from its original asking price of $18 million.

Houser and his wife bought the home anonymously though an LLC, but it's the same LLC he used to buy a $6.25 million loft in SoHo back in 2006, indicating that he's now the owner of Capote's storied house as well, the Observer's Matt Chaban notes.

Capote rented the garden apartment in the five-story, double-width, high Greek-Revival four-bay townhouse from 1955 to 1965.

Click here to tour the house >

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Source: http://www.legaldebthelponline.com/2012/03/20/handing-the-debt-off/

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1 Dow Stock that Popped, 1 That Dropped Today

Mr. Market has been on one heck of a climb for the year. The Dow Jones Industrials Average (INDEX: ^DJI  ) is up almost 8% year to date, and has climbed from 12,700 to 13,289 in this month alone. Today's down day seems more like a breather than anything else. That doesn't mean there aren't trends to watch though. Here is a look at how the three major indices fared today, the macro news moving markets, and the two Dow stocks that gained or lost the most today.

Global jitters
While Europe has been at the forefront of most investor's global concerns, it looks like another region of the world has been building problems of their own. Today, it is slowdown fears in China that are sending chills. BHP Billiton, the world's largest miner, said that iron ore demand from the country is "flattening." Coupled with fears about an overinflated housing market in the country, it's easy to see why shares would dip.

Worries from China pushed gold, oil, and silver funds lower today. The Market Vectors Oil Services ETF (AMEX: OIH  ) closed the day down 1.8%, more than three times the Dow's fall. The U.S. Oil & Gas Exploration and Production Index Fund (AMEX: IEO  ) fell five times the loss on the Dow, with a 2.5% decline for the day. This makes sense, as oil and gas exploration tends to be the most boom-and-bust subsector of the oil and gas industry.

Specific pops & drops

  • Bank of America (NYSE: BAC  ) was the top performing Dow stock of the day, rising 2.9%. This added to the company's already ridiculous 76.4% year-to-date gain. It's been a two-part push for the big bank: Originally they were buoyed by positive economic numbers, and then they built off that rise with positive stress-test results. It's been a great year to be in banking stocks, and some Fools think Bank of America could be the Dow's stop stock of 2012.
  • Caterpillar (NYSE: CAT  ) was the biggest Dow loser today, falling 2.61%. The company has put up huge growth numbers recently, particularly with their emerging-market mining growth. It makes sense they would dip today on China growth fears, but with the equipment maker still up 23% for the year, today's pullback isn't anything to sweat over.

The best approach
Watching the broad market each day is exciting, but also gut-wrenching and stressful, but investing doesn't have to be. If you're in the mood to pick up a great company to buy for the long term, The Motley Fool has created a brand-new free report, "The Motley Fool's Top Stock for 2012." It features a company hand-selected by the Fool's chief investment officer that has a strong future ahead of it. Get access to the report and find out the name of this legendary company. The report is free, but won't be forever, so check it out today.

The Steve Jobs Betrayal
You may already know that in the final year of his life, Jobs revealed a stunning betrayal ? and told his biographer, "I will spend my last dying breath... and every penny of Apple's $40 billion in the bank to right this wrong." What was it that made Jobs so irate ? and why could it make a few in-the-know investors some major profits over the coming months and years?

Enter your email address below to find out what made Jobs so enraged!

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Source: http://www.fool.com/investing/general/2012/03/20/1-dow-stock-that-popped-1-that-dropped-today.aspx

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