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06.17.2008 1:38 pm

Carnahan, AB’s congressman, takes somber tone

By Jake Wagman
St. Louis Post-Dispatch

U.S. Rep. Russ Carnahan, whose district includes Anheuser-Busch’s Pestalozzi Street headquarters, offered a glum statement today regarding the future of the brewery. Russ Carnahan

On the heels of investment sage Warren Buffett reportedly declaring he’s on the side of Belgian beer giant InBev, here’s what Carnahan had to say about the looming takeover:

This is a day we never anticipated and yet it has arrived. By all public accounts, Anheuser-Busch’s stellar position in our community, across the country, and throughout the world is being challenged. While the company must respond to the unsolicited purchase attempt by Belgium based InBev Corporation, it is now up to the proven leadership of Anheuser-Busch to decide how best to proceed in securing not just its St. Louis survival, but its long-term economic success.

Collectively we share great concern for the welfare of the St. Louis area, the men and women who have led Anheuser-Busch to iconic prominence, and a questioning public that rightfully wonders what will be next. I have spoken with many colleagues from across the country and Missouri in the last few days who are more than sympathetic to our concern, because they see it as theirs as well.

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14 comments

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Blog Comments: Rules of the Road

I can’t even tell what Carnahan was trying to say. He got elected to something, really?

— ClearEye
8:04 am June 18th, 2008

What INBev has to worry about is what will happen if AB sells out? Will there be a revolt by Americans against the brand and cause further revenue destruction?

Also AB has to worry about the same thing. They have to appear to be considering this deal for the good of the company but they also have to be considering the damage the brand could receive and the potential for stocks to plummet if AB goes foreign.

This is a lose-lose for both AB and INBev….AB needs to stay put. Selling out American Icons is the beginning of the end.

What’s next for America…the Statue of Liberty proudly owned and operated by Kuwait? Major League Baseball bought by China?

AB cannot sellout as the consequences are worse than trying to raise falling revenues now.

— rockslide
9:56 am June 18th, 2008

Where is our local super hero Bud Man when you need him? I’d like to see him open a can of whup ass on those InBev execs.

— Realist
6:52 pm June 18th, 2008

Rockslide, you just don’t get it. Think with your head – not your heart.

What INBev has to worry about is what will happen if AB sells out? Will there be a revolt by Americans against the brand and cause further revenue destruction?
C’mon. The swill will continue to sell just fine. A-B is the MacDonald’s of Beer, and Bud is the Big Mac. It’s good enough for most of us, and we (as a nation, historically) don’t care if it’s American-made or not; we buy what’s good, and cheap.
Also AB has to worry about the same thing. They have to appear to be considering this deal for the good of the company but they also have to be considering the damage the brand could receive and the potential for stocks to plummet if AB goes foreign.
Why would they care? They’ll have cashed out at a premium. Their cash will be in other investments.
This is a lose-lose for both AB and INBev….AB needs to stay put. Selling out American Icons is the beginning of the end.

Smarter, richer and more powerful people than you don’t view it as lose-lose. They plan on winning, and their track record suggests they shall.
What’s next for America…the Statue of Liberty proudly owned and operated by Kuwait? Major League Baseball bought by China?
A Beer company, itself quite predatory on smaller beer companies is hardly the Statue of Liberty. And yes, someday there will be a MLB presence in China. Count on it.
AB cannot sellout as the consequences are worse than trying to raise falling revenues now.
They can, and will. For their shareholders it is the only logical action.

— Bud Wisa
8:39 pm June 19th, 2008

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