Read an article in The Financial Times today about the challenges that US multinationals are facing with the Euro meltdown. Pointed out that many had locked in their hedge strategies for the year. Pointed out that Coke, for example, hedged with a 1.40 Euro; it is now 1.22. The article estimates about an 11% hit on earnings for Coke. Pepsi in a similar boat with its large overseas market presence. Thankfully, this is not a problem for DPS.