The issue here is Coke's intent. If they want Quaker Oats' businesses, they have the financial muscle to get it done.

It's still a nice premium to where Quaker had been trading at before the first talks were announced. When the valuation climbed to more than $100 per share, we were calling it 'generous.' The high-90s is a very fair price.

Pepsi clearly wants Quaker for strategic reasons. Their offer is still a substantial premium to where Quaker Oats is trading. The reason they walked away the first time is because they had Coca-Cola waiting in the wings. They no longer have that luxury.

The imagination is a muscle. If it is not exercised, it atrophies.

The Give and Take Athletic Association lived up to its name. The hall of the association in Orchard street was fitted out with muscle- making inventions. With the fibres thus builded up the members were wont to engage the police and rival social and athletic organisations in joyous combat. Between these more serious occupations the Saturday night hop with the paper-box factory girls came as a refining influence and as an efficient screen.

Greed is not a financial issue. It's a heart issue.