Wednesday, October 28, 2009 - Price to PepsiCo for Not Being in Court: $1.26 Billion - Price to PepsiCo for Not Being in Court: $1.26 Billion: "What's the cost of not showing up to court? For PepsiCo Inc., it's a $1.26 billion default judgment. A Wisconsin state court socked the company with the monster award in a case alleging that PepsiCo stole the idea to bottle and sell purified water from two Wisconsin men.

Now the company is scrambling to salvage the situation. The damages award was handed down on Sept. 30. PepsiCo filed motions to vacate the order and dismiss the claims on Oct. 13, saying it wasn't even aware of the lawsuit until Oct. 6."

Hey--this is better than winning the lottery. There was a case in Los Angeles years ago where the owner of an apartment building got sued by a tenant for letting it turn into a decaying slum. The landlord ignored the lawsuit...right up until the day the court gave the building to the tenant in satisfaction of the default judgment. Then it was too late. Mr. Slumlord lost the building, and it was worth over a million.

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