February 6th, 2014
11:54 AM ET

Green Mountain Stock Soars on Coke Partnership

Coke is coming to K-Cups, perking up Green Mountain Coffee's stock.

Coca-Cola announced a partnership Wednesday with Green Mountain Coffee Roasters, maker of the popular Keurig single-serving coffee machine.

The news sent Green Mountain shares soaring more than 25% in Thursday trading. Green Mountain said it would undertake a "meaningful" share repurchase program to reduce dilution of existing investors' holdings.

Coke shares rose about 1% Thursday.

Get this story and more in today's  "Money Time" with Christine Romans.

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Filed under: moneytime • News • Videos
January 14th, 2014
09:32 AM ET

Google Steps into Home Appliances Trade

Google is making another big bet on hardware, CNN's Christine Romans reports.

The search giant announced Monday that it's buying connected device maker Nest Labs for $3.2 billion in cash.

Nest, led by former Apple designer Tony Fadell, develops "smart" home appliances like thermostats and smoke detectors that can program themselves and communicate with smartphones.

Nest will maintain its brand name and continue to be led by Fadell, Google said, adding that the deal will likely close "in the next few months."

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Filed under: Internets • News • Tech • Videos
December 5th, 2013
09:54 AM ET

Fast Food Workers in 100 Cities Plan Walkouts

Fast food protests aren't going away.

Organizers say fast food restaurant workers in 100 U.S. cities will walk off the job Thursday, as part of a continuing push to raise wages above $15 an hour in the industry and secure the right to unionize.

"Median pay for fast food workers is $9 an hour or $18,720 a year, well below the Census Bureau's poverty line of about $23,000 for a family of four," reports CNN's Alison Kosik.

The movement began with a small walkout in New York City last year and has since gathered momentum. Strikes this past August drew fast food workers in 60 cities, organizers said.

The National Restaurant Association contends that the demonstrations are a "coordinated PR campaign engineered by national labor groups," and that "relatively few restaurant workers have participated" in past demonstrations.

A McDonald's spokeswoman said the events planned for Thursday "are not strikes," and consist only of outside groups "traveling to McDonald's and other outlets to stage rallies."

Industry officials have criticized the campaign, claiming increased starting wages will hold back job growth and increase prices.

The effort has drawn support from the Service Employees International Union, one of the country's largest, as well as activist groups. A MoveOn.org petition that has drawn nearly 50,000 online signatures calls on industry leaders "to pay your workers $15 an hour so they can make ends meet and Americans can stop paying for the hidden costs of poverty wages."

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November 28th, 2013
07:43 AM ET

Sriracha Factory Partly Shut Down After Odor Complaints

A Sriracha hot sauce factory is getting a chilly reception in Southern California.

A judge in Los Angeles County has ordered Sriracha maker Huy Fong Foods to suspend operations at a plant in the city of Irwindale that local residents claim has caused an overpowering odor.

CNN's Nischelle Turner reports the saucy story and gives it a taste test.

Irwindale claimed in a lawsuit that the stench was causing watery eyes, sore throats and headaches, prompting complaints from dozens of residents.

"You couldn't stay outside in some places," Irwindale city manager John Davidson said. "We've had softball teams that have had to cancel their games and practices because their eyes were watering."

The judge's ruling orders Huy Fong to "immediately make changes in its site operations reducing odors and the potential for odors." The city has been pushing Huy Fong to install a new filtration system to address the issue.

"We want to find a balance between letting this business be a business and protecting our residents," Davidson said. "We hope this will allow us to sit down with Huy Fong and come up with a solution that meets the needs of the community."

Huy Fong declined to comment.

For most of its lifespan, Huy Fong has produced the Thai chili sauce without incident in Rosemead, Calif., but it shifted some production to Irwindale earlier this year.

While Huy Fong isn't the originator of Sriracha, the company's distinctive green-topped bottles have become a staple on grocery shelves, kitchen lines and restaurant tables since it began U.S. production in 1983.

The company produced 20 million bottles of Sriracha in 2012, or $60 million worth, all without the benefit of advertising. Consumer devotion to the brand has inspired cookbooksembroideryjewelry and a limited-edition flavor of Lay's potato chips.

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