THE REAL THING: Truth and Power at the Coca-Cola Company

Hays, who spent three years covering the food and beverage industry for the New York Times , focuses on the recent efforts by Coca-Cola not just to win the cola wars but to become the most dominant beverage of all. Early chapters effectively segue back and forth between Coke's modern global strategy and the company's first century of increasing dominance. Founder Asa Candler envisioned Coke as a fountain drink, and thought so little of other sales methods he gave two men bottling rights to nearly all of America in 1899, resulting in a patchwork of plants where the sodas was made and distributed. Hays deftly shows how these local bottlers were crucial in establishing Coke's public image, yet often possessed an independent streak that rankled the company's corporate leaders, who eventually sought to regain control over much of the operations, with mixed results. She clearly admires the ambition and dedication of executives like Roberto Goizeuta and Doug Ivester, allowing much of the story to unfold from their perspective, but doesn't flinch from chronicling missteps like the attempt to beat the Pepsi Challenge with New Coke. And even though the final chapters depict the shattering of the Coke myth and the onset of financial woes, it's sometimes difficult to tell whether Hays is simply reporting on the new management's belief in its ability to bounce back or buying into their vision. Readers won't uncover the secrets of Coca-Cola the drink, but they'll learn a lot about what lies behind Coca-Cola the world's most powerful brand. (Feb.)