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Numerous press reports this morning are chronicling the arrest of three people charged with trying to steal trade secrets about new product development from the Coca-Cola Co. and sell them to PepsiCo for more than a million dollars. At least one of the people is a now-former executive administrative assistant at Coke headquarters in Atlanta, Joya Williams, who managed to pilfer 14 pages of Coca-Cola documents marked classified and confidential as well as a new product sample from an item under development.

Pepsi spokesman Dave DeCecco said that when his company was offered the materials via mail, it immediately turned the information over to Coke and to law enforcement officials. "Competition can sometimes be fierce, but also must be fair and legal," DeCecco said. "We're pleased the authorities and the FBI have identified the people responsible for this."

An arraignment is scheduled for later today in Atlanta.

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