Coca-Cola moves toward bottling deals in Chicago, Central Florida

BOCA RATON, Florida (Reuters) - Coca-Cola Co on Friday announced deals to sell bottling operations in Greater Chicago and Central Florida, as it slowly undoes its 2010 purchase of its North American bottler.

The world's biggest soda maker said it had signed two letters of intent with independent bottlers but did not disclose the financial terms. For the deals to take effect, the parties must reach definitive agreements this year.

Coke was expected to announce refranchising news ahead of Chief Executive Officer Muhtar Kent's presentation on Friday at the Consumer Analyst Group of New York conference in Boca Raton, Florida.

Several years ago, Coke and arch rival PepsiCo bought their North American bottlers to streamline decision-making and cut costs.
 

While the two companies have traditionally moved together on major changes, they are currently out of step. Coke has been open about its plan to ultimately franchise its North American bottler, while PepsiCo has not.

In April, Coca-Cola said it had signed letters of intent with five other U.S. bottlers.

Friday, February 21, 2014 - By Unknown 0

North Korea's Yongbyon reactor 'nearing operation'

Steam has been seen rising from North Korea's Yongbyon nuclear facility, suggesting that the reactor has been restarted, a US institute says.

The colour and volume of the steam indicated that the reactor was in or nearing operation, the institute said.
Pyongyang vowed to restart facilities at its main Yongbyon nuclear complex in April, amid high regional tensions.
The reactor can produce plutonium, which North Korea could use to make nuclear weapons.
Analysts believe North Korea already possesses between four and 10 nuclear weapons, based on plutonium produced at the Yongbyon reactor prior to mid-2007, when the facility was closed down.
Yongbyon nuclear facility 31 August 2013

The report, which was published on the 38 North website on Wednesday, was written by the US-Korea Institute at Johns Hopkins University. The institute uses satellite imagery to monitor developments in North Korea.
The reactor uses steam turbines to generate electricity, and the steam seen in satellite imagery from 31 August indicated that the electrical system was about to come online, the report said.

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“Start Quote

There remains time to negotiate a shutdown of the reactor”

Institution for Science and International Security

"The reactor looks like it either is or will within a matter of days be fully operational, and as soon as that happens, it will start producing plutonium," report author Jeffrey Lewis told the BBC.

"They really are putting themselves in a position to increase the amount of material they have for nuclear weapons, which I think gives them a little bit of leverage in negotiations, and adds a sense of urgency on our part," he added.
The five megawatt reactor can produce spent fuel rods that can be made into plutonium, which experts believe North Korea used for its nuclear tests in 2006 and 2009. North Korea conducted its third and most recent test in February, but it is not clear whether plutonium or uranium was used.
In a November 2010 report following a visit to Yongbyon, US scientist Siegfried Hecker said that based on what he saw, he believed North Korea could "resume all plutonium operations within approximately six months" at Yongbyon, then shut down, if so inclined.

Continue reading the main story

Yongbyon nuclear complex

• North Korea's main nuclear facility; thought to have produced the material for 2006 and 2009 nuclear tests
• Reactor shut down in July 2007 as part of a disarmament-for-aid deal; Cooling tower dismantled in 2008
• IAEA inspectors banned in April 2009 when North Korea pulled out of disarmament talks
• North Korea said in April 2013 that it would restart the complex
• Experts believe that, if re-started, reactor could make one bomb's worth of plutonium per year
• A uranium enrichment facility was revealed in 2010. An American nuclear scientist said centrifuges appeared to be primarily for civilian nuclear power, but could be converted to produce highly enriched uranium bomb fuel
• Nuclear test based on uranium device would be harder to monitor than plutonium

• Q&A: North Korea nuclear programme
• Yongbyon restart: North Korea ramps up nuclear tension

Analysts at the Institution for Science and International Security, a think tank, said it would take a considerable amount of time before North Korea could use any new plutonium in nuclear weapons.

"Given that North Korea will likely need two-three years before it discharges irradiated fuel containing plutonium and another six to 12 months to separate the plutonium, there remains time to negotiate a shutdown of the reactor before North Korea can use any of this new plutonium in nuclear weapons," it said in a report.
Analysts say the reactor can produce 6kg (13 lbs) of plutonium a year - enough to make one to two nuclear bombs, the BBC's Lucy Williamson in Seoul reports.
Both the US State Department and South Korea's National Intelligence Service have declined to comment directly on the report, saying they do not comment on intelligence matters, AP news agency reported.
North Korea closed the Yongbyon reactor in July 2007 as part of a disarmament-for-aid deal.
The cooling tower at the facility was later destroyed, but then the disarmament deal stalled, partly because the US did not believe Pyongyang was fully disclosing all of its nuclear facilities.
In 2010, North Korea unveiled a uranium enrichment facility at Yongbyon to Mr Hecker.
Mr Hecker said that while the facilities appeared to be for electricity generation purposes, it could be readily converted to produce highly-enriched uranium for bombs.

 

Thursday, September 12, 2013 - By Unknown 0

BBC Price of Football 2013: Average ticket prices fall

Average ticket prices across English football's top four divisions have fallen by up to 2.4%, the BBC Sport Price of Football study has found.

It showed prices in four main categories have reduced for 2013-14.
The annual study - the biggest in British football - includes the prices of 164 clubs in the top 10 divisions.
"It is good news for fans but it does come after a long period of incremental rises year on year," Sports Minister Hugh Robertson told the BBC.

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"The key thing is that it is replicated in years to come. I think clubs are beginning to understand what fans are going through and to adjust their prices accordingly."

Five leagues in England, four in Scotland and the Women's Super League were consulted.
Last year's study showed the average price of the cheapest ticket in English football had gone up by 11% - four times the rate of inflation.
But this year, average prices for the cheapest and most expensive match-day and season tickets were all down - as clubs in the Football League face up to an average 5% drop in attendances, from 9,949 in 2011-12 to 9,481 in 2012-13.
In the top four divisions of English football, the biggest fall was 2.4% for the cheapest adult season ticket category, down from £344.63 in 2012 to £336.23 in 2013.
The average for the most expensive adult season ticket fell 1.6% - from £546.30 in 2012 to £537.60 in 2013. The average for the cheapest adult match-day ticket is down 1.9% - from £21.24 to £20.85. The average for the most expensive adult match-day ticket dropped around 1% - from £34.11 to £33.81
In Scotland, the average price of the top flight's cheapest season tickets was 1% down. However, the average cost of the cheapest match-day tickets rose by more than 3%.
As well as the most expensive and cheapest season and adult match-day tickets, we recorded the cost of a cup of tea, a pie and a programme. Just two clubs, Lincoln and Rangers, failed to respond.

League by League

• Premier League
• Championship
• League One
• League Two
• Conference
• Scottish Premier
• Scottish Championship
• Scottish League One
• Scottish League Two
• Women's Super League

The study also found:

• The most expensive ticket in English football remains at Arsenal, where a category A adult match-day ticket can cost up to £126. Their cheapest ticket is £26.
• The cheapest adult season ticket in the Premier League is £299 at Manchester City. The most expensive is £1,955 at Arsenal, although this includes seven cup matches.
• The cheapest adult match-day ticket in men's football is £7 at Albion Rovers - the only men's club to charge less than £10.
• The average price for an adult match-day ticket in the Women's Super League is just £5.38.
• The most expensive pies in British football are at Crystal Palace and Kidderminster, with both charging £4.
• The most expensive cup of tea is £2.50 at Manchester United - the same as in 2012. Manchester City also charged £2.50 last year, but have dropped their price to £1.80.

Dave Whelan, chairman of FA Cup winners Wigan, said it was "difficult" for clubs to put prices up amid the current financial climate in Britain.
"Money is so tight and our area is running at 8-9% unemployed and it's impossible to ask anyone to pay any more to watch football," he said.
Football League chairman Greg Clarke said three-quarters of Football League clubs had either reduced their ticket prices or kept them at the same level as last season.
"I think this is a case of clubs responding sensibly to declining living standards in what has been a challenging economic period," he said.
While the overall picture across English football was lower ticket prices, the Premier League saw a 4.3% rise in the average price of the cheapest season tickets.

Cheapest tickets for days out

Alton Towers: £35.10
Blackpool Tower: £45
Edinburgh Castle: £16
Madame Tussauds, London: £22.50
One Direction, Etihad Stadium: £66

Malcolm Clarke, chair of the Football Supporters' Federation, said there was "no justification" for any increases in the top flight given a new television deal that is bringing in an extra £600m across the division.

He had called for the extra cash to be used to cut admission prices drastically, but during the transfer window clubs spent a record £630m on players.
Clarke said: "It is disappointing that the average price of the cheapest season ticket has still gone up despite the extra income and despite the very difficult economic circumstances many supporters are in.
"There is plenty of scope to do much more than they have already done. If all that happens is that most of that money is being used to go into players and agents, then there is a danger that there will be a real kickback from fans."
Despite the concerns, the average Premier League attendance in 2012-13 was 35,975 - up from 34,646 the season before. In addition, there were record season-ticket sales of 476,776.
Premier League chief executive Richard Scudamore said these figures were helped by the "fact that so many clubs are working so hard to ensure that Premier League football remains as accessible and affordable to as many people as possible.
"That sets a high bar - one that both we and the clubs are determined to maintain," he said. "That is why clubs are looking at a range of innovative and inclusive offers to encourage high-attendance, particularly for younger fans and away supporters.
"It is great to see the continued high levels of support for top-flight football in this country. The passion and commitment of the fans is an integral part of the Premier League's success and English football culture and we want to make sure that is intact this season, the next and for many to come."
Professor Tom Cannon, a football finance expert from Liverpool University, said top-flight clubs were under pressure to produce greater revenues.
"The truth is, we are in a situation where the cost of talent, at the top in particular, continues to soar, not just because of that pressure but because of regulatory pressure like Financial Fair Play, which means they have to generate more and more income," he said.

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Top flight got pricing right - Robertson

"This means on the one hand you have a bonanza of TV income but you also have a bonanza in expenditure and potentially the gap has to be filled by gate income and that puts the pressure on the fans."
Last year, Liberal Democrat MP Tim Farron tabled an Early Day Motion in Parliament calling for ticket prices to be cut as a result of the Price of Football 2012.
In response to this year's study, he said: "The cost of watching football is still huge. There are some signs that clubs are making serious efforts to try and make sure that not just season tickets but match-day tickets are very affordable.
"There have been early steps made in the right direction, but there are still many of the large clubs who are appearing to be totally and utterly inconsiderate towards the fact that many people are being priced out of being able to watch their team."

Thursday, September 12, 2013 - By Unknown 0

D.C. Mayor Vetoes 'Living Wage' Bill Targeting Large Retailers

Washington, D.C., Mayor Vincent Gray has vetoed a controversial "living wage" bill that would have forced large retailers such as Wal-Mart to pay a 50 percent premium on the district's $8.25 per hour minimum wage.
When the bill was approved by the city council in July, Wal-Mart said it would abandon three of the six stores it planned to build in the district, was too much.
Since then Gray, a Democrat, has been mulling whether to sign the Large Retailer Accountability Act, as the bill is known. On Thursday, he ended weeks of speculation and vetoed it.
Council Chairman Phil Mendelson, a supporter of the act, said he was "disappointed" by the mayor's decision, which he said was "not good for workers."
A letter sent by Mendelson to Gray said the bill was "not a true living-wage bill, because it would raise the minimum wage only for a small fraction of the District's workforce," according to
The Post quotes Wal-Mart spokesman Steven Restivo as saying the veto is "good news for D.C. residents," saying Gray chose "jobs, economic development and common sense over special interests."
He said that if the council fails to override the veto, "all stores are back on."
Other major retailers, such as Target and Home Depot, also opposed the bill.
In a statement from the National Retail Federation, spokesman David French thanked Gray "for his leadership on this important issue. With a stroke of his pen, the Mayor brought power back to D.C.'s 'Open for Business' sign."

Thursday, September 12, 2013 - By Unknown 0