With hindsight, moving its listing to Nasdaq OMX on the grounds that it would get better advertising at Times Square than downtown at the New York Stock Exchange wasn’t a clever calculation for Kraft.
The trading glitch which caused Kraft’s shares wrongly to soar 30 per cent as it completed its switch to Nasdaq OMX was blamed by the exchange on an algorithmic trading error that affected other trading places as well. Read more
I can only hope a demerger of Kraft Foods into its snack and US grocery businesses will save consumers from the unholy alliance of Cadbury Dairy Milk chocolate and Philadelphia cream cheese in a single spread, recently heralded by UK tabloid The Sun.
More worrying, however, is the impact of near-constant corporate reorganisation on the underlying businesses – and particularly on Cadbury. Read more
Back to Irene Rosenfeld, who despite her degree in psychology, appears to have upset an awful lot of people with Kraft’s £11.6bn takeover of Cadbury.
Having made herself unpopular in the UK by acquiring the maker of Cadbury’s Dairy Milk and the Curly Wurly, she has alienated Warren Buffett, her biggest shareholder, who regards it as “a bad deal”. Read more