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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: accountclosed who wrote (16078)	1/18/1999 1:42:00 PM
From: MythMan	Respond to of 86076

from CNNfn >>NEW YORK (CNNfn) - Switzerland's Nestle S.A. confirmed Monday it won't meet its 4 percent sales growth target in 1998 due to emerging markets crises in Asia and Eastern Europe. <Picture>In a meeting with analysts last week, Peter Brabeck-Letmathe, chief executive of Nestle, the world's largest food company, said the 4 percent growth target is now out of reach for the year, spokesman Hans Renk said. <Picture>"We are not going to comment further," Renk said, pending the expected official release of sales figures Friday. <Picture>Shares of the giant chocolatier and coffee vendor fell 121 francs, or 4.3 percent, to 2,669 francs on the Zurich Stock Exchange Monday. <Picture>But Renk said the company had not firmly presented the 4-percent growth target as a hard-and-fast goal. The company warned analysts last November that it wouldn't meet, double-digit annual sales growth for 1998. <Picture>"We said in November that we had good hopes we might reach [a sales growth target of 4 percent] but this is almost two months ago," Renk said. <Picture: Link to top> <Picture>-- from staff and wire reports << At least these guys post both good and bad news unlike the Pleasant Valley sunday reporting done by other sites. For example, if CNBC had as much strength and balance in their business reporting as they do in their political coverage they might have something.