Cereal Wars - Going Soggy | 6

Business Wars

Audible

History, David Brown, Business, Management

4.6 • 13.5K Ratings

🗓️ 31 July 2019

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s the year 2000 and, for the first time in almost a century, Kellogg’s is no longer America's top cereal maker. Now a new CEO is in the driving seat, and he’s on a mission to win back the cereal crown from General Mills.

But even as the two rivals slug it out for number one, they’re both facing a new reality: a market that’s losing its appetite for cereals as people abandon their breakfast bowls for grab-and-go morning meals of granola bars, bagels and Egg McMuffins.

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Transcript

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0:00.0	Hey, prime members, you can listen to business wars, add free on Amazon music.
0:04.6	Download the app today.
0:07.0	It's March 2000, and a demolition crew is at work on Porter Street in Battle Creek, Michigan.
0:22.6	A small group of former Kellogg's employees watches as a wrecking ball slams into their
0:27.2	former workplace, the company's South Plant.
0:30.8	Five months ago, the factory will Kellogg built in 1907, made its final batch of cornflakes.
0:38.1	Now the breakfast that built the company is being made far away from Sirial City, as the
0:44.6	wrecking ball pounds the facility to rubble.
0:48.2	Tears well up in the eyes of former workers.
0:51.5	It's the end of an era.
0:53.4	The company is on its knees.
0:57.6	Kellogg's long reign as America's serial king is over.
1:02.0	Its stock price is depressed, and profits are gone.
1:07.1	Copycat's cereals are feasting on its biggest brands.
1:10.5	The company is laying off workers, sapping morale of those who remain.
1:15.6	But three miles away in Kellogg's headquarters, CEO Carlos Gutierrez makes a phone call he
1:21.5	hopes will help restore the company to glory.
1:26.0	Since joining Kellogg's in 1975, this Cuban refugee with a Burt Reynolds mustache has wanted
1:32.4	the top job.
1:34.0	Now that he's in the hot seat, he's shaking things up.
1:38.2	In the past, Kellogg's barometer of success was the amount of Sirial sold.
1:42.9	Now Gutierrez has got every executive focusing on dollars earned.
	...

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