Corporations: A Sweet Business

Among major U.S. corporations, only Pennsylvania's Hershey Chocolate Corp. still does no national advertising, has no publicity man, and turns out just about what it did when Woodrow Wilson was President. All Hershey makes is chocolate bars, kisses, syrups, powders—and money. Because the great American sweet tooth seems unaffected by economic headaches, Hershey is apparently recession-proof. Last year it increased sales 4% to $177 million and rang up whopping pretax profits of $41 million. Three weeks ago, when Hershey unwrapped plans for a 5-for-1 stock split, its shares jumped 14 points to 196 in a single day's trading; last week,...

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