Coke is at an increasing disadvantage. Pepsi is locking up the non-carbonated segment. Coke is dealing with restructuring its internal problems while Pepsi is being proactive about growth.

They would take huge flack from shareholders if they did.

I think they were being really conservative. I think there should be some growth from Gatorade.

I don't think Daft or anyone would want to stick their heads out there now with the regulatory environment being what it is. This may have hurt him, but I don't think the board can afford not to rally behind him at this point.

North America volumes were below our estimate, but pricing was strong.

Coke is at an increasing disadvantage, ... Pepsi is locking up the non-carbonated segment. Coke is dealing with restructuring its internal problems while Pepsi is being proactive about growth.