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THIS BUD'S NOT FOR YOU ANYMORE
Recently Missourians have found one issue that seems to bind us all together....liberal & conservative, Republican & Democrat. They have come from both sides of the aisle to voice an objection to the sale of Anheuser-Busch to the European-owned InBev. Unfortunately, the uninhibited sale of a US company to the highest bidder is part of our system of Free Enterprise. So they all gave lip-service against the sale but could do nothing to stop it. It was a decision of the shareholders (as it should be). But even Sen. Obama spoke out against the sale & hoped that shareholders would remember to keep Bud an American Beer.
One political figure was silent on the sale. Now we know why. John McCain's wife may like driving around town in her sportscar with the vanity plates "MS. BUD" (when she's not flying her private plane) but you never heard her voice an objection to the sale. Nor did you hear her husband who frequently explains how he is looking out for the American Worker ask shareholders to sacrifice profit for the good of the Americans who hold jobs with Budweiser.
One of the concerns of an InBev buyout is that InBev has a history of buying a brewery and then cutting jobs to raise their profit margin. I hope that all the Anheuser-Busch employees who now must worry about what changes are in store for them remember in November who made an estimated 1 - 2 million dollars on the sale. (Insult to injury is that she will be paying capital gains tax at a rate of 15%, a Bush tax cut that McCain opposed until he ran for President. Now he supports it....wonder why?)
So why didn't either of the McCain's comment on the sale in advance? How did Cindy McCain vote her estimated 40,000 - 80,0000 shares?
The next time you raise a bottle of Bud....remember John & Cindy McCain raised a finger to all of us! THANKS A LOT!
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Comments (3)
As someone who only occasionally drinks Porters and Bocks from microbreweries, I really don't care who owns Anheuser-Busch or what happens to the company.
Will a cost-cutting InBev reduce the quality of its beer? How could anyone notice?
Will InBev reduce A-B's presence in NASCAR, thereby weakening the least entertaining form of motorsport in the US? Seems like a good thing to me...
Over the years I have noticed that in all the places I care about that are littered with garbage, remnants of A-B products can be prominently found. And in many of the people I care about, for whom alcohol consumption is a problem, A-B products can be found.
So, honestly, I think a country without A-B would be an improvement.
July 16, 2008 2:09 PM | Reply | Permalink
I also tend to drink microbrew beers and am not overly in love with A-B's products. (Check out anything from Boulevard Brewery in Kansas City...now Missouri's largest American Owned Brewery)
But the 1000 salaried employees who will lose thier job according to the Wall Street Journal as part of the deal might disagree as to whether a country without A-B would be an improvement.
July 16, 2008 2:23 PM | Reply | Permalink
It seems like no real surprise that TPM readers are not Bud drinkers. I, for example, come from the land of micro-brewers. Why we have two in our tiny town of 15,000, alone. I don't think I've had a Bud in 30 years...
The bigger issue here is that an economic policy predicated on de-regulation and over-leveraged free-market capitalism has driven the value of the dollar down to a place where a European company can come in a snatch up Anheuser-Busch and put 1000 people out of work. Expect more of this and not just in the beverage industry.
July 16, 2008 7:49 PM | Reply | Permalink
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