And Paul, I'm afraid I have to disagree on some of your well-presented arguments. I don't think Coke's position in its industry is going to change any time soon. Probably not, Paul. It might lose a step or two as the competition takes advantage of Coke's untimely price hike. Still, even I don't think that Coke will give up the pole position in the industry any time soon.
Many adults seem to be substituting coffee for cola as a caffeine source.
Anything from another batch of tainted soda to a worldwide plea for caffeine regulation to a trend to the simplicity of tap water can hit this susceptible industry right in the gut. Coke is an awesome generator of cash flow. That's true, Paul. Though, over the years, its incremental market cap has outpaced the cash that it generated. Excess is not pretty.