Coca-Cola CEO’s Letter to Shareholders, 1998

I am proud of our employees, who saw the storm, adjusted the sails, and pressed forward with Churchillian resolve: “Keep going—fear nothing.” Around the world, the Coca-Cola system made adjustments—not just for today, but for always. We focused on our “Four Core Brands,” our strongest core brands: Coca-Cola, Diet Coke, Sprite, and Fanta. Most importantly, we remained committed to long-term growth. We increased our global market share and built or maintained soft-drink sales share in every operating group. Exchange rates and the current economic environment have not shaken our confidence in our global business model—our global business model is about bringing freshness to more consumers worldwide, in more places, through an increasingly efficient and far-reaching bottling system, serving over 14 million retail customers across our ever-expanding family. We know the global economy will continue to evolve. Turbulent markets will recover. People will still be thirsty. In our view, it is less about building a business in nearly 200 countries—and more about managing a business in nearly 200 countries. We have already proven our system’s ability to grow the soft-drink business. Moreover, we now possess the capability to do so in every corner of the world. For us, the long-term opportunity remains enormous—and more attainable than ever before. We are now working hard to ensure that we emerge swiftly from the crises in Asia and elsewhere—stronger and more capable of leadership than ever before. For example, in Indonesia, our analysis showed that last year we could break even in two ways: sell 100 million cases—or shut down operations. The former would lay the foundation for future growth; the latter would erase 30 years of effort. Our employees sprang into action—selling aggressively, emphasizing the affordability of smaller package sizes and the convenience of neighborhood stores. Although our volume fell short of 100 million cases, we solidified our leadership position and built our market in this emerging nation of over 200 million people. We held fast to partnerships with thousands of customers who urgently depended on Coca-Cola sales for their income. The strength and resources of the Coca-Cola system enable us to invest where other companies will not. Our system has invested heavily in marketing and infrastructure—for example, over $500 million in India over the past five years, and over $400 million in the Philippines over the past three years; in Brazil, we will invest nearly $1 billion over the next three years. Starting on the next page of this report, you will read more about the permanent measures we are taking now—to build our brands and ensure prosperity for decades to come. We have signed an agreement to acquire Cadbury’s beverage brands outside the U.S., France, and South Africa—including strong brands such as Schweppes, Canada Dry, and Dr Pepper. These brands will be a welcome addition to our international brand portfolio, and we look forward to welcoming approximately 450 Cadbury colleagues into the Coca-Cola family.

List of Technology Companies’ Investment Commitments Following Trump’s Assumption of Office (White House Source)

Following President Trump’s assumption of office, the White House engaged with various technology companies, which subsequently announced investment commitments. A partial list of these companies follows: 1. Apple announced a $600 billion investment in U.S. manufacturing and workforce training, as it brings supply chains and other components of advanced manufacturing back to the United States—alongside an American Manufacturing Plan to incentivize its suppliers to manufacture products domestically. 2. Meta announced a $600 billion investment by 2028 to support U.S. artificial intelligence (AI) technology, infrastructure, and workforce expansion. 3. The “Stargate” project—led by Japan-based SoftBank and U.S.-based OpenAI and Oracle—announced a $500 billion private investment in U.S.-based AI infrastructure. 4. NVIDIA, the global chip manufacturing giant, announced a $500 billion investment in U.S. AI infrastructure over the next four years, while also pledging to build its first AI supercomputer entirely in the United States. 5. Amazon announced last year that it had invested $340 billion in the United States and would invest an additional $20 billion to expand its cloud computing infrastructure in Pennsylvania—creating at least 1,250 new high-skill jobs—as well as $10 billion to build new data centers in North Carolina and $4 billion to invest in small towns across the country, generating over 100,000 new jobs nationwide and expanding opportunity. 6. Micron Technology—the only U.S.-based advanced memory chip manufacturer—announced a $200 billion investment in advanced memory chip manufacturing and production in the United States, including construction of a second chip fabrication facility in Boise, Idaho, and modernization of its facility in Manassas, Virginia. 7. IBM announced a $150 billion investment over the next five years in its U.S.-based growth and manufacturing operations. 8. Taiwan Semiconductor Manufacturing Company (TSMC) announced a $100 billion investment in U.S. chip manufacturing. 9. Johnson & Johnson announced a $55 billion investment over the next four years in manufacturing, research and development (R&D), and technology—including a dedicated $2 billion manufacturing facility at Fujifilm’s Holly Springs, North Carolina site. 10. AstraZeneca announced a $50 billion investment in pharmaceutical manufacturing and research in the United States. 11. Anthropic announced a $50 billion investment in U.S. AI infrastructure, including new data centers in Texas and New York. 12. Roche, the Swiss pharmaceuticals and diagnostics company, announced a $50 billion investment in U.S. manufacturing and R&D, expected to create over 1,000 full-time positions and more than 12,000 jobs—including in construction. 13. Bristol Myers Squibb announced a $40 billion investment over the next five years in R&D, technology, and U.S. manufacturing. 14. GlaxoSmithKline (GSK) announced a $30 billion investment in U.S. R&D and manufacturing. 15. Eli Lilly announced a $27 billion investment to more than double its domestic manufacturing capacity. 16. Hyundai Motor announced a $26 billion investment in the United States—including $5.8 billion for a new steel mill in Louisiana, which will create nearly 1,500 jobs.

Coca-Cola to Invest $10 Billion in US Infrastructure by 2030

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