Consumer >> Sector Roundtables >> January 27, 2003

Roundtable Forum: Beverages

MARK SWARTZBERG joined Legg Mason in 2002, establishing beverages coverage for the firm in June of that year. He has been covering beverages since 1998, when he joined Salomon Smith Barney as a junior member of its beverages research team. Institutional Investor magazine cited Mr. Swartzberg's work recently, designating him a 'Next Generation' analyst when establishing members of their 2003 All America Research Team and identifying Legg Mason as the best firm providing beverages research in the magazine's annual Best of the Boutiques roundup. Mr. Swartzberg holds a BA from Duke University and an MBA from Harvard University. Profile
BRYAN SPILLANE is a Vice President and Equity Research Analyst at Banc of America Securities LLC, where he covers the beverage industry. Prior to joining Banc of America Securities, he worked as an Analyst at UBS Warburg, where he covered the food and beverage industries. He began his career in the beverage industry working for Cadbury Schweppes from 1989 to 1996 and later at Triarc Beverage Group. He earned an MBA in Finance from the University of Connecticut in 1997 and a BS in Economics from Southern Connecticut State University in 1988. Profile
TWST: Bryan, could you start out by bringing us up to date? What

has gone on in the group over the past year or so from a market


Mr. Spillane: This is a defensive group and you