Exerce-toi à la piété
In the New York Times Barnaby-J. Feder reports that in 1994 the Quaker Oats Company, which had posted strong financial earnings for several years, purchased the Snapple drinks business. Although in late 1994 Snapple had been the leader in beverages like fruit drinks and iced teas, the purchase turned out to be a debacle for Quaker Oats and for numerous executives in the company.
In late 1994 Quaker paid $1.7 billion to buy Snapple. A few years later they could sell the company for only $300 million—a loss of $1.4 billion! In the first quarter of 1997 Quaker announced an overall net loss of $1.1 billion owing to its sale of Snapple.
In April 1997 the chairman and chief executive of Quaker, who had promoted the purchase of Snapple, resigned.
Like large corporations choosing what businesses to buy, Christians need to choose their commitments and involvements wisely. Some activities are nothing but a drain.