Digest: Coca-Cola ending its 'Classic' label

Coca-Cola added “Classic” to its label in 1985. Coca-Cola added “Classic” to its label in 1985. Photo: ERIC KAYNE, Chronicle Photo: ERIC KAYNE, Chronicle Image 1 of / 1 Caption Close Digest: Coca-Cola ending its 'Classic' label 1 / 1 Back to Gallery

BEVERAGES

Coca-Cola ending ‘Classic’ label

One of the most famous blunders in marketing history is quietly coming to an end. The Coca-Cola Co. is dropping the “Classic” from its red labels, the company said Friday.

The Classic designation, which appears under the Coca-Cola script on labels, was added to the packaging in 1985, to distinguish the original formula from a sweeter, wildly unpopular new version of Coke. Ten weeks after introducing the new Coke, and after publicly vowing that the original formula was gone for good, company executives brought it back.

New Coke has since disappeared from shelves, making the Classic qualification unnecessary.

Scott Williamson, a company spokesman, said Coca-Cola decided to make the change as it launches a new global marketing campaign it is calling “Open Happiness.”

NEW YORK TIMES

LEADERSHIP

Interim director of port chosen

Port commissioners Friday named Port of Houston Authority Managing Director Wade Battles to serve as acting executive director while they conduct a national search to replace retiring Executive Director Tom Kornegay.

Kornegay, who has led the port for nearly 17 years, announced his retirement earlier this week.

Battles has served as managing director since June 1999, responsible for the Port of Houston Authority’s administrative and operational departments.

– BILL HENSEL JR.

MORTGAGES

Freddie Mac aims to cut vacancies

The goal of the new policy, announced Friday, is to prevent properties from becoming vacant so they won’t fall into disrepair.

Freddie Mac also said it will allow renters to remain in their homes even if their landlord enters foreclosure.

Fannie Mae, which announced similar plans earlier this month, said it has stopped about 20,000 foreclosure sales and halted 6,300 evictions of owners or renters this winter.

Under Freddie Mac’s new policy, tenants and former property owners need to demonstrate that they have enough income to pay the rental bill. Freddie Mac also said it would consider reinstating a mortgage for those borrowers who can qualify for a modified loan.

ASSOCIATED PRESS