100-Year-Old Coke Bottle Is About to Become a Movie Star
The Coca-Cola bottle, with its distinctive contoured glass, was created a century ago as a way for the soft drink company to give its product a competitive edge. As the company website explains, “In 1915, Coca-Cola attempted to fend off a host of copycat brands by strengthening its trademark. The company and its bottling partners issued a creative challenge to a handful of U.S. glass companies: To develop a “bottle so distinct that you would recognize if by feel in the dark or lying broken on the ground.”
The winning design, created by the Root Glass Company of Terre Haute, Ind., worked — so well, in fact, that a century later the company is still using that basic concept to market its signature brand. Coca-Cola this year is celebrating the 100th anniversary of the bottle — and its influence in pop art and other realms — through a global advertising campaign, art exhibitions and a photo book, among other avenues.
Now the bottle and its history will also be the subject of a new “authorized” documentary, according to The Hollywood Reporter. (Coke will help pay for the movie’s marketing.)
Related: Why the Soda Industry Is Still Full of Hot Air
“When I can hold up a Coca-Cola bottle and ask, ‘is this art or is this commerce?’ and most commonly hear ‘it’s both,’ that sets the stage for an intriguing narrative,” the movie’s producer and co-director, Matthew Miele, told THR.
That narrative could include how the Coke bottle became the first commercial product to make it to the cover of Time magazine in 1950, or how it provided fodder for artists like Andy Warhol — and, especially if the film touches on today’s backlash against soda, it might even mention that the 10- and 12-ounce bottles that made their debut in 1955 were called “King Size” and a 26-ounce bottle was marketed as “Family Size.”
Miele and his team reportedly hope their documentary will premiere in November to coincide with the Nov. 16, 1915 date that the bottle design first won a patent.
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Tweet of the Day: The Black Hole of Big Pharma
Billionaire John D. Arnold, a former energy trader and hedge fund manager turned philanthropist with a focus on health care, says Big Pharma appears to have a powerful hold on members of Congress.
Arnold pointed out that PhRMA, the main pharmaceutical industry lobbying group, had revenues of $459 million in 2018, and that total lobbying on behalf of the sector probably came to about $1 billion last year. “I guess $1 bil each year is an intractable force in our political system,” he concluded.
Warren’s Taxes Could Add Up to More Than 100%
The Wall Street Journal’s Richard Rubin says Elizabeth Warren’s proposed taxes could claim more than 100% of income for some wealthy investors. Here’s an example Rubin discussed Friday:
“Consider a billionaire with a $1,000 investment who earns a 6% return, or $60, received as a capital gain, dividend or interest. If all of Ms. Warren’s taxes are implemented, he could owe 58.2% of that, or $35 in federal tax. Plus, his entire investment would incur a 6% wealth tax, i.e., at least $60. The result: taxes as high as $95 on income of $60 for a combined tax rate of 158%.”
In Rubin’s back-of-the-envelope analysis, an investor worth $2 billion would need to achieve a return of more than 10% in order to see any net gain after taxes. Rubin notes that actual tax bills would likely vary considerably depending on things like location, rates of return, and as-yet-undefined policy details. But tax rates exceeding 100% would not be unusual, especially for billionaires.
Biden Proposes $1.3 Trillion Infrastructure Plan
Joe Biden on Thursday put out a $1.3 trillion infrastructure proposal. The 10-year “Plan to Invest in Middle Class Competitiveness” calls for investments to revitalize the nation’s roads, highways and bridges, speed the adoption of electric vehicles, launch a “second great railroad revolution” and make U.S. airports the best in the world.
“The infrastructure plan Joe Biden released Thursday morning is heavy on high-speed rail, transit, biking and other items that Barack Obama championed during his presidency — along with a complete lack of specifics on how he plans to pay for it all,” Politico’s Tanya Snyder wrote. Biden’s campaign site says that every cent of the $1.3 trillion would be paid for by reversing the 2017 corporate tax cuts, closing tax loopholes, cracking down on tax evasion and ending fossil-fuel subsidies.
Read more about Biden’s plan at Politico.
Number of the Day: 18 Million
There were 18 million military veterans in the United States in 2018, according to the Census Bureau. That figure includes 485,000 World War II vets, 1.3 million who served in the Korean War, 6.4 million from the Vietnam War era, 3.8 million from the first Gulf War and another 3.8 million since 9/11. We join with the rest of the country today in thanking them for their service.
Chart of the Day: Dem Candidates Face Their Own Tax Plans
Democratic presidential candidates are proposing a variety of new taxes to pay for their preferred social programs. Bloomberg’s Laura Davison and Misyrlena Egkolfopoulou took a look at how the top four candidates would fare under their own tax proposals.
