Mayor Bloomberg Takes Up Fight Against Soda
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Price: $82.96 -1.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.7%
Revenue Growth %: +5.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.7%
Revenue Growth %: +5.4%
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Just when New Yorkers were getting used to the idea of having a billionaire as their mayor, Michael Bloomberg goes off and shows his pedigree as an elitist by doing what many consider unthinkable – he proposes a ban on the sale of large sodas and sugary drinks. The proposal may seem benign, but New Yorkers understand the mayor's subtext – "Shape up New Yorkers. You're fat."
"There they go again," said a spokesman for the New York City Beverage Association. "The New York City Health Department's unhealthy obsession with attacking soft drinks is again pushing them over the top. The city is not going to address the obesity issue by attacking soda because soda is not driving the obesity rates."
City officials disagree. They see a direct link between sweet drinks and obesity, diabetes, and heart disease and they think the proposal, which limits the size of soft drinks, will help curb related health care costs.
Beverage stocks are taking the news in stride: The Coca-Cola Company (NYSE: KO) and Pepsico, Inc. (NYSE: PEP) are down just fractionally and Dr Pepper Snapple Group, Inc. (NYSE: DPS) is up 0.7%.
"There they go again," said a spokesman for the New York City Beverage Association. "The New York City Health Department's unhealthy obsession with attacking soft drinks is again pushing them over the top. The city is not going to address the obesity issue by attacking soda because soda is not driving the obesity rates."
City officials disagree. They see a direct link between sweet drinks and obesity, diabetes, and heart disease and they think the proposal, which limits the size of soft drinks, will help curb related health care costs.
Beverage stocks are taking the news in stride: The Coca-Cola Company (NYSE: KO) and Pepsico, Inc. (NYSE: PEP) are down just fractionally and Dr Pepper Snapple Group, Inc. (NYSE: DPS) is up 0.7%.
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