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Get in the Ring

A weak economy can make you strong-if you've got the guts to go in for the kill.

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This story appears in the October 2001 issue of Entrepreneur. Subscribe »

It was 1933. Charles Guth, president of a candy company, was desperately trying to get rid of a long-unprofitable product. He approached his nemesis, rival candy company president Ernest Woodruff, held up the white flag and offered to sell. Woodruff probably laughed. Guth was hawking a lousy brand with no future. So Woodruff refused, and the product lived on.

And that's why we're still drinking Pepsi.

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