Wednesday, July 7, 2010
It's the Economy, Stupid
Hey, we could remind you that today's high is 105 degrees making your cubicle more enjoyable than the great outdoors.
Is there a bright spot? Is there a recession proof industry? Well, there's always alcohol.* Statistics Canada recently reported that, despite the times, the sale of beer, wine, and spirits has increased by more than 5 percent in the last year.
Yeah, but that's Canada. Hockey's over so what's the story inside the lower 48? Despite the Dow Jones being down for the year microbrews are on the up and up. Shares of the Craft Brewers Alliance, makers of RedHook, have doubled this year (Anheuser-Busch has an ownership stake in the Alliance). Sam Adams shares are up 42 percent. According to estimates, craft beer shipments increased by 7.2 percent in 2009.
*Manufacturing is one industry making gains during the recession but unfortunately most experts believe this will not last.