CDUB98 said:
Is it $20B inlosses or in market cap?
The Q2 report isn't out yet, so I'm thinking market cap.
It won't workbonfarr said:
This seems like some publicist hired by InBev is planting these stories to try to roll back the boycott. Make people feel bad for the poor workers that had nothing to do with the Mulvaney fiasco so they stop making fun of others for buying BL. I am seeing more and more of these stories popping up.
NOW they're concerned.BassCowboy33 said:
This is a few days old. I went through the thread and couldn't find this, so forgive me if I missed it.
This is a NYT times article about the Bud Light fiasco. Some of the info is wild, and the Times seems to insinuate losses are even worse than AB is reporting.
https://www.nytimes.com/2023/06/29/business/bud-light-sales.html
"At this point, it's cheaper than some of the cases of water we're selling in the back," Mr. Wagner said, noting that sales of Bud Light at the store since mid-April were down 45 percent from a year ago. "It's just not moving like it used to."
"Here we are about 10 weeks into it, and we're still seeing double-digit declines in volumes nationally," said Bump Williams, who runs the consulting firm that bears his name. "This is no longer an anomaly. This is a trend of concern."
" Indeed, most larger beer distributors or wholesalers middlemen who buy brands from brewers like Anheuser-Busch and Molson Coors and then sell them to stores, restaurants and bars believe the fallout will last more than six months, according to a survey released this month by the Wall Street investment bank Jefferies. A third of distributors believe the impact on Bud Light will be permanent."
Quote:
In a statement last Thursday, the company told the Ruston leader in Lousiana that the Wilson plant is closing, along with the Ruston plant, which employs 245 people. The statement doesn't identify a specific reason for the closures, only calling them part of a "Multi-year Performance Optimization Program."
"Since April, we've had a couple of machines down," said James Munhall, Journeyman Machine Repair Mechanic. "It was, of course, being pointed towards the Bud Light situation."
WRAL News obtained an internal memo from the Wilson plant manager dated May 18. it says, "Due to slow sales with Anheuser Inbev," two of the factory's production lines would be shutting down. Multiple longtime employees at the Wilson plant say most of their business was making bottles for Budweiser and bud light.
Industry data shows Bud light's sales fell 24% during May after a nationwide boycott over the brand's partnership with a transgender influencer.
This is what I was saying early on in this thread and was rebuffed with there's no way misreport with the big bad SEC overseeing everything. Of course, the SEC is just another bloated, weaponized and politicized bureaucracy that I'm sure could easily look the other way, all in the name of protecting woke BS.Quote:
This is a NYT times article about the Bud Light fiasco. Some of the info is wild, and the Times seems to insinuate losses are even worse than AB is reporting.
And you really don't think they couldn't misrepresent quarterly earnings?CDUB98 said:
No, I said that we won't know for certain until the Q2 filings come out.
Do not misrepresent what I said.
Quote:
"The privacy and safety of our employees and our partners is always our top priority," the beer giant said. "As we move forward, we will focus on what we do best brewing great beer for everyone and earning our place in moments that matter to our consumers."
Frericks blasted the company for its lack of clarity.
"What does that mean? Absolutely nothing. And it will only deepen the chasm between the brand and its customers," Frericks wrote. "As such and I take no pleasure in passing this judgment it's clear to me that it's time for the shareholders and board of Anheuser-Busch to ask Whitworth to step down."
Frericks said he had a "good relationship" with Whitworth, and he "personally promoted him twice" and made him president of Anheuser Busch Sales & Distribution Co in 2021.
I mean, yes, he's 100 percent right. I think it's too late though, and it won't matter if/when Whitworth leaves/who replaces him at this point. The company/brand made its decisions, and might as well just stick with them the whole way down.Quote:
"He's been paralyzed by corporate America's forced adoption of 'stakeholder' capitalism, which preaches to companies about why they must serve activists, politicians, non-governmental organizations, and all manner of interests anyone really apart from their shareholders and customers!" Frericks wrote.
Instead of listening to ordinary Americans, whose life savings are being held in pensions, he said Whitworth is being controlled by large asset managers known as the "Big Three" which are Vanguard, BlackRock, and State Street. He said the Big Three are pushing "diversity and inclusion" targets, something which ordinary Americans don't care about, who "want the best for their families."
"Whitworth has clearly shown himself to be incapable of solving the Mulvaney crisis," Frericks said. "It's time he did the right thing and stepped aside to make way for someone capable righting the sinking Bud Light ship"
Quote:
"I might be the only Republican at this place, but it's about reaching across and loving one another," Brooks reflected, adding that he's "so tired of being divided" and he believes Biden is "hellbent on making things good."
I still maintain that there's a way out. There is. Conservatives know how to forgive. It's not what they'll choose, but if they pivot hard to become the champion for the blue collar man who opposes the social decline of our nation - they can break the stigma.nortex97 said:
Former in-Bev executive calls for AB CEO Whitworth to be fired:Quote:
"The privacy and safety of our employees and our partners is always our top priority," the beer giant said. "As we move forward, we will focus on what we do best brewing great beer for everyone and earning our place in moments that matter to our consumers."
Frericks blasted the company for its lack of clarity.
"What does that mean? Absolutely nothing. And it will only deepen the chasm between the brand and its customers," Frericks wrote. "As such and I take no pleasure in passing this judgment it's clear to me that it's time for the shareholders and board of Anheuser-Busch to ask Whitworth to step down."
Frericks said he had a "good relationship" with Whitworth, and he "personally promoted him twice" and made him president of Anheuser Busch Sales & Distribution Co in 2021.I mean, yes, he's 100 percent right. I think it's too late though, and it won't matter if/when Whitworth leaves/who replaces him at this point. The company/brand made its decisions, and might as well just stick with them the whole way down.Quote:
"He's been paralyzed by corporate America's forced adoption of 'stakeholder' capitalism, which preaches to companies about why they must serve activists, politicians, non-governmental organizations, and all manner of interests anyone really apart from their shareholders and customers!" Frericks wrote.
Instead of listening to ordinary Americans, whose life savings are being held in pensions, he said Whitworth is being controlled by large asset managers known as the "Big Three" which are Vanguard, BlackRock, and State Street. He said the Big Three are pushing "diversity and inclusion" targets, something which ordinary Americans don't care about, who "want the best for their families."
"Whitworth has clearly shown himself to be incapable of solving the Mulvaney crisis," Frericks said. "It's time he did the right thing and stepped aside to make way for someone capable righting the sinking Bud Light ship"
YouBet said:
Just wanted to point out the delusional dumbass that is Garth Brooks.
Re: Serving Bud Light in his bars.Quote:
"I might be the only Republican at this place, but it's about reaching across and loving one another," Brooks reflected, adding that he's "so tired of being divided" and he believes Biden is "hellbent on making things good."
It's a lot harder to build a brand up than it is to tear it down. How many cutesie or patriotic ads will it take to get to people to stop pointing at Bud Light, laugh and say "Gay!" Or to get people to stop saying "Transheuser-Busch!"Get Off My Lawn said:I still maintain that there's a way out. There is. Conservatives know how to forgive. It's not what they'll choose, but if they pivot hard to become the champion for the blue collar man who opposes the social decline of our nation - they can break the stigma.nortex97 said:
Former in-Bev executive calls for AB CEO Whitworth to be fired:Quote:
"The privacy and safety of our employees and our partners is always our top priority," the beer giant said. "As we move forward, we will focus on what we do best brewing great beer for everyone and earning our place in moments that matter to our consumers."
Frericks blasted the company for its lack of clarity.
"What does that mean? Absolutely nothing. And it will only deepen the chasm between the brand and its customers," Frericks wrote. "As such and I take no pleasure in passing this judgment it's clear to me that it's time for the shareholders and board of Anheuser-Busch to ask Whitworth to step down."
Frericks said he had a "good relationship" with Whitworth, and he "personally promoted him twice" and made him president of Anheuser Busch Sales & Distribution Co in 2021.I mean, yes, he's 100 percent right. I think it's too late though, and it won't matter if/when Whitworth leaves/who replaces him at this point. The company/brand made its decisions, and might as well just stick with them the whole way down.Quote:
"He's been paralyzed by corporate America's forced adoption of 'stakeholder' capitalism, which preaches to companies about why they must serve activists, politicians, non-governmental organizations, and all manner of interests anyone really apart from their shareholders and customers!" Frericks wrote.
Instead of listening to ordinary Americans, whose life savings are being held in pensions, he said Whitworth is being controlled by large asset managers known as the "Big Three" which are Vanguard, BlackRock, and State Street. He said the Big Three are pushing "diversity and inclusion" targets, something which ordinary Americans don't care about, who "want the best for their families."
"Whitworth has clearly shown himself to be incapable of solving the Mulvaney crisis," Frericks said. "It's time he did the right thing and stepped aside to make way for someone capable righting the sinking Bud Light ship"
(And by oppose - I mean mocking the left in their commercials, taking legal action against the CSR, and speaking the words that peons under the corporate thumb aren't allowed to utter.)
Oh - I'm tracking - I'm just saying there's a way. But it has to begin with a denunciation and public declaration of the pivot.techno-ag said:It's a lot harder to build a brand up than it is to tear it down. How many cutesie or patriotic ads will it take to get to people to stop pointing at Bud Light, laugh and say "Gay!" Or to get people to stop saying "Transheuser-Busch!"Get Off My Lawn said:I still maintain that there's a way out. There is. Conservatives know how to forgive. It's not what they'll choose, but if they pivot hard to become the champion for the blue collar man who opposes the social decline of our nation - they can break the stigma.nortex97 said:
Former in-Bev executive calls for AB CEO Whitworth to be fired:Quote:
"The privacy and safety of our employees and our partners is always our top priority," the beer giant said. "As we move forward, we will focus on what we do best brewing great beer for everyone and earning our place in moments that matter to our consumers."
Frericks blasted the company for its lack of clarity.
"What does that mean? Absolutely nothing. And it will only deepen the chasm between the brand and its customers," Frericks wrote. "As such and I take no pleasure in passing this judgment it's clear to me that it's time for the shareholders and board of Anheuser-Busch to ask Whitworth to step down."
Frericks said he had a "good relationship" with Whitworth, and he "personally promoted him twice" and made him president of Anheuser Busch Sales & Distribution Co in 2021.I mean, yes, he's 100 percent right. I think it's too late though, and it won't matter if/when Whitworth leaves/who replaces him at this point. The company/brand made its decisions, and might as well just stick with them the whole way down.Quote:
"He's been paralyzed by corporate America's forced adoption of 'stakeholder' capitalism, which preaches to companies about why they must serve activists, politicians, non-governmental organizations, and all manner of interests anyone really apart from their shareholders and customers!" Frericks wrote.
Instead of listening to ordinary Americans, whose life savings are being held in pensions, he said Whitworth is being controlled by large asset managers known as the "Big Three" which are Vanguard, BlackRock, and State Street. He said the Big Three are pushing "diversity and inclusion" targets, something which ordinary Americans don't care about, who "want the best for their families."
"Whitworth has clearly shown himself to be incapable of solving the Mulvaney crisis," Frericks said. "It's time he did the right thing and stepped aside to make way for someone capable righting the sinking Bud Light ship"
(And by oppose - I mean mocking the left in their commercials, taking legal action against the CSR, and speaking the words that peons under the corporate thumb aren't allowed to utter.)
It's likely going to take a while.
Quote:
But it has to begin with a denunciation and public declaration of the pivot.
Is it, though? I hear the fad terms thrown around, but at the end of the day the board rooms can close their doors against "external stakeholder voices" if they choose to.CDUB98 said:Quote:
But it has to begin with a denunciation and public declaration of the pivot.
In this day and age of stakeholder capitalism, I simply do not see that happening.
what's dumb is even feeling the need to make a statement- if he wants to keep a tap on BL, as bar owner he can make that decision even if it never sells.YouBet said:
Just wanted to point out the delusional dumbass that is Garth Brooks.
Re: Serving Bud Light in his bars.Quote:
"I might be the only Republican at this place, but it's about reaching across and loving one another," Brooks reflected, adding that he's "so tired of being divided" and he believes Biden is "hellbent on making things good."
distributors have shifted to Mich Ultra - a lot of stores I'm seeing have zero BL but expanded ML - problem is ML is different demographic marketYouBet said:
AB is simply going to focus on the other brands. They have an extremely diverse product mix that is global with geographical driven strategies. Their stock price has been around where it is right now for almost two years so well before this event happened. And it's never recovered from COVID being $30-50 dollars down from 2019.
I say all this because this one event will not bring them down. Bud Light may simply morph into something else, they push other brands in its place, or they make it up in other countries. On this latter note, the North AMerican market was already down 4% in 2022 before all of this happened because younger demos here do not drink as much as the rest of us.
I'm enjoying the Bud Light suicide as much as anyone but my main hope out of this is that AB stays out of the political fringes going forward and it becomes a lesson for all of corporate America to abandon stakeholder capitalism. If that happens, that will be massive win for America.
Get Off My Lawn said:Is it, though? I hear the fad terms thrown around, but at the end of the day the board rooms can close their doors against "external stakeholder voices" if they choose to.CDUB98 said:Quote:
But it has to begin with a denunciation and public declaration of the pivot.
In this day and age of stakeholder capitalism, I simply do not see that happening.
Twitter isn't real life and valued goods / services can and do prevail every day without pandering for woke tailwinds.
If Whitworth had led with this explanation and announced a change of policy in the face of it, he MIGHT have killed the boycott. But instead, he continued to condescendingly double down, then triple down on the 180 degree wrong approach. An approach that was glaringly obvious and fooled no one except maybe Garth Brooks.Get Off My Lawn said:I still maintain that there's a way out. There is. Conservatives know how to forgive. It's not what they'll choose, but if they pivot hard to become the champion for the blue collar man who opposes the social decline of our nation - they can break the stigma.nortex97 said:
Former in-Bev executive calls for AB CEO Whitworth to be fired:Quote:
"The privacy and safety of our employees and our partners is always our top priority," the beer giant said. "As we move forward, we will focus on what we do best brewing great beer for everyone and earning our place in moments that matter to our consumers."
Frericks blasted the company for its lack of clarity.
"What does that mean? Absolutely nothing. And it will only deepen the chasm between the brand and its customers," Frericks wrote. "As such and I take no pleasure in passing this judgment it's clear to me that it's time for the shareholders and board of Anheuser-Busch to ask Whitworth to step down."
Frericks said he had a "good relationship" with Whitworth, and he "personally promoted him twice" and made him president of Anheuser Busch Sales & Distribution Co in 2021.I mean, yes, he's 100 percent right. I think it's too late though, and it won't matter if/when Whitworth leaves/who replaces him at this point. The company/brand made its decisions, and might as well just stick with them the whole way down.Quote:
"He's been paralyzed by corporate America's forced adoption of 'stakeholder' capitalism, which preaches to companies about why they must serve activists, politicians, non-governmental organizations, and all manner of interests anyone really apart from their shareholders and customers!" Frericks wrote.
Instead of listening to ordinary Americans, whose life savings are being held in pensions, he said Whitworth is being controlled by large asset managers known as the "Big Three" which are Vanguard, BlackRock, and State Street. He said the Big Three are pushing "diversity and inclusion" targets, something which ordinary Americans don't care about, who "want the best for their families."
"Whitworth has clearly shown himself to be incapable of solving the Mulvaney crisis," Frericks said. "It's time he did the right thing and stepped aside to make way for someone capable righting the sinking Bud Light ship"
(And by oppose - I mean mocking the left in their commercials, taking legal action against the CSR, and speaking the words that peons under the corporate thumb aren't allowed to utter.)
AgDad121619 said:what's dumb is even feeling the need to make a statement- if he wants to keep a tap on BL, as bar owner he can make that decision even if it never sells.YouBet said:
Just wanted to point out the delusional dumbass that is Garth Brooks.
Re: Serving Bud Light in his bars.Quote:
"I might be the only Republican at this place, but it's about reaching across and loving one another," Brooks reflected, adding that he's "so tired of being divided" and he believes Biden is "hellbent on making things good."
Those bars that choose to replace the tap with something else are just exercising their right as owners to do that. If BL was actually selling, nothing would have changed.
ESG is a thing, unfortunately. BlackRock alone controls something like $12 trillion in assets.Get Off My Lawn said:Is it, though? I hear the fad terms thrown around, but at the end of the day the board rooms can close their doors against "external stakeholder voices" if they choose to.CDUB98 said:Quote:
But it has to begin with a denunciation and public declaration of the pivot.
In this day and age of stakeholder capitalism, I simply do not see that happening.
Twitter isn't real life and valued goods / services can and do prevail every day without pandering for woke tailwinds.
