Here is an interesting newsof Pepsi coming out to help nab Coke officials who were trying to sell Coke formula to Pepsi. The question that everyone would have is WHY? Why would Pepsi not want the formula of Coke out - which could be a death knell for Coke? Is it just plain altruism?
The three, who include an executive administrative assistant at Coke, were charged with wire fraud along with stealing and selling trade secrets. Federal prosecutors in Atlanta say the trio sought to sell the information in deals worth as much as $1.5 million.
Federal prosecutors said Coke learned of the theft from Pepsi, which provided the company with a letter from an individual claiming to be a high-level Coca-Cola employee offering "very detailed and confidential information."
"We just did what any responsible company would do. Competition can be fierce, but it also needs to be fair," Pepsi spokesman Dave DeCecco said.
On hearing from Pepsi, Coke alerted the Federal Bureau of Investigation, which began an undercover operation.
"While this breach of trust is difficult for all of us to accept, it underscores the responsibility we each have to be vigilant in protecting our trade secrets," Neville Isdell, chairman and chief executive of Coke, the world's largest soft drink company, said in a memo to employees.Read More »