Setting more facts straight
Posted: Sun Sep 08, 2002 1:56 am
I have a need to explain the Church of Jesus Christ (The Mormons) position on ownership of Pepsi or Coke as well as what doctrine within the church is relating to drinking and eating caffeinated products:
I just want to put the FACTS before you.
The Coca-Cola Company is far too sizeable a business entity for any one person or group to own, even if that group were Bill Gates and Kerry Packer. Big Red is a publicly traded company (New York Stock Exchange ticker symbol KO), with 15% of the shares held by insiders (former and current executives plus the families of those who built up the company) and 9% by SunTrust Bank. The remaining 76% of the company is owned by various and sundry institutional and individual investors, some of whom may indeed be Mormon.
Coca-Cola's largest individual shareholder is Berkshire Hathaway, a company run by Omaha, Nebraska, stock-picking guru Warren Buffett. Berkshire Hathaway holds 200 million shares, or 8% of the company, a stake valued at $11 billion. Atlanta's Emory University has Coca-Cola holdings amounting to $3 billion, making it one of the richest universities in the U.S.A. (Harvard holds that particular claim to fame, with endowment holdings of $13 billion.)
A variant of this rumor states that the Mormons own the Pepsi-Cola Company. That too is untrue. Like Coca-Cola, Pepsi is far too large for any group to own even a noticeable part of, let alone own it outright.
Underpinning this legend is the notion that Mormons are forbidden caffeinated beverages, thus how deliciously ironic it would be if the Church of Jesus Christ of Latter-day Saints quietly owned a company it raged against from the pulpit.
Though we hate to ruin a good bit of lore with the facts, the truth is that although Mormons have been advised by church leaders to avoid caffeinated beverages, this suggestion has not been passed down as official church doctrine:
"I never drink any of the cola drinks and my personal hope would be that no one would. However, they are not included in the Word of Wisdom in its technical application. I quote from a letter from the secretary to the First Presidency, 'But the spirit of the Word of Wisdom would be violated by the drinking or eating of anything that contained a habit-forming drug.' With reference to the cola drinks, the Church has never officially taken any attitude on this at but I personally do not put them in the class as with the tea and coffee because the Lord specifically mentioned them [the hot drinks]."
(Teachings of Spencer W. Kimball, p. 202.) Former President of The Church of Jesus Christ of Latter Day Saints until his death in 1985.
to which all members in good standing must adhere (unlike, say, the admonitions against coffee, tea, tobacco, and alcohol, which are church doctrine). Mormons can swill Coca-Cola, eschew it and all other caffeinated beverages, or indulge in the occasional Coke and still be considered churchgoers in good standing.
I just want to put the FACTS before you.
The Coca-Cola Company is far too sizeable a business entity for any one person or group to own, even if that group were Bill Gates and Kerry Packer. Big Red is a publicly traded company (New York Stock Exchange ticker symbol KO), with 15% of the shares held by insiders (former and current executives plus the families of those who built up the company) and 9% by SunTrust Bank. The remaining 76% of the company is owned by various and sundry institutional and individual investors, some of whom may indeed be Mormon.
Coca-Cola's largest individual shareholder is Berkshire Hathaway, a company run by Omaha, Nebraska, stock-picking guru Warren Buffett. Berkshire Hathaway holds 200 million shares, or 8% of the company, a stake valued at $11 billion. Atlanta's Emory University has Coca-Cola holdings amounting to $3 billion, making it one of the richest universities in the U.S.A. (Harvard holds that particular claim to fame, with endowment holdings of $13 billion.)
A variant of this rumor states that the Mormons own the Pepsi-Cola Company. That too is untrue. Like Coca-Cola, Pepsi is far too large for any group to own even a noticeable part of, let alone own it outright.
Underpinning this legend is the notion that Mormons are forbidden caffeinated beverages, thus how deliciously ironic it would be if the Church of Jesus Christ of Latter-day Saints quietly owned a company it raged against from the pulpit.
Though we hate to ruin a good bit of lore with the facts, the truth is that although Mormons have been advised by church leaders to avoid caffeinated beverages, this suggestion has not been passed down as official church doctrine:
"I never drink any of the cola drinks and my personal hope would be that no one would. However, they are not included in the Word of Wisdom in its technical application. I quote from a letter from the secretary to the First Presidency, 'But the spirit of the Word of Wisdom would be violated by the drinking or eating of anything that contained a habit-forming drug.' With reference to the cola drinks, the Church has never officially taken any attitude on this at but I personally do not put them in the class as with the tea and coffee because the Lord specifically mentioned them [the hot drinks]."
(Teachings of Spencer W. Kimball, p. 202.) Former President of The Church of Jesus Christ of Latter Day Saints until his death in 1985.
to which all members in good standing must adhere (unlike, say, the admonitions against coffee, tea, tobacco, and alcohol, which are church doctrine). Mormons can swill Coca-Cola, eschew it and all other caffeinated beverages, or indulge in the occasional Coke and still be considered churchgoers in good standing.
