In the 2-1/2 months that have elapsed there has not been any divestiture news.

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Long-term, that's a tough fix. Wal-Mart is always going to need to sell Coke. They are always going to need to sell Wrigley's. Will they always need to sell Sara Lee's coffee or tea? I don't know.

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The company, taken in its entirety, is a very large, unfocused conglomerate and they've been trying to pare things down over the last few years, ... They are going to have to prove to the market that they are focusing on core brands that are going to grow.

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I think they are making substantial changes, but the strategy is not risk free, ... One of the central problems with Sara Lee's valuation is this is a company where a number of their brands are relatively small in the scheme of things. Investors are concerned that small brands are more vulnerable over time.

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The company, taken in its entirety, is a very large, unfocused conglomerate and they've been trying to pare things down over the last few years. They are going to have to prove to the market that they are focusing on core brands that are going to grow.

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Our recent contact with a sugar refiner indicates the pressure is not over and actually could increase due to poor crop yields.

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When you think of Kraft's portfolio, it's plain vanilla right up the middle.

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I think we deserve to be the No. 1 team, and if everyone plays their best, we are the No. 1 team. We're much more prepared to handle the hype. It takes awhile to understand what being No. 1 is all about.

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