Apparently evil empires are just as likely to suffer the effects of the current global recession as the rest of us. Yesterday Anheuser-Busch InBev announced that it is slashing corporate bonuses and dividends while rolling out a new marketing blitz for it's leading seller Bud Light. Marketwatch said revenue surged 35 percent mainly due to taking over Anheuser-Busch. When adjusted for volume, revenue increased closer to 5 percent but even this is attributed more to price increases than anything else. The end result is that 4th quarter profits for the behemoth were down 40 percent and Goldman Sachs downgraded ABIB from neutral to sell.A related story...
In a move to that will surely endear ABIB to the hearts of US beer drinkers, the giant squelched a rumor that the company was considering a move of corporate headquarters. ABIB is opening a New York office and will start reporting financials in US dollars (which led to the rumor).
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“Leuven is and will remain home to our global headquarters, center of strategic decision making and primary office,” wrote A-B InBev spokeswoman Marianne Amssoms in an e-mail to the [St. Louis] Business Journal.
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Thus ensuring most American beer drinkers are not tempted to upgrade ABIB to neutral.
We really hope Steven Spielberg doesn't sue us.
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