Magazine content is available exclusively for TIME subscribers.CORPORATIONS: Billions in the Pantry
The food business is not only the nation's biggest ($80 billion this year), but its sales are steadily on the rise. Last week General Foods Corp., largest U.S. packaged-food processor, reported that its sales in the fiscal year ending March 31 topped $1 billion for the first time, its earnings jumped 10% to $48.4 million—and both are still climbing. President Charles Mortimer, 57, had only one minor complaint: "We spent $87 million in advertising last year, but not one penny to advertise the name of General Foods. Most of our customers do...
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