Interview with Herman W. Lay, executive committee chairman of Pepsi Co., Inc., from Greensville, South Carolina. Lay discusses his childhood and education, his earlier jobs, working in distribution during the Depression, buying the Barrett Food Company and founding H. W. Lay & Co., Inc., the company's growth and expansion, merger with the Frito Co. and gaining nationwide distribution, buying the Red Dot Co., merger with Pepsi, continued expansion, work with Eastern Bloc countries, establishment in the Arab world, the Japanese market, involvement in the Dallas economy, and words on successful entrepreneurship.