Chauncey William Wallace ("Tex") Cook is a little like the distressed fellow in the television commercial who says, "I can't believe I ate the whole thing." Cook heads General Foods, which is having trouble digesting all that it has swallowed. Earlier this year General Foods wrote off a $47 million loss on Burger Chef Systems and Rix Systems, a pair of acquired hamburger and roast beef sandwich franchise operations that ran afoul of overcrowding in the fast-food business. As a result, one of the world's biggest processors of food (last year's sales: $2.3...
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