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Thread: Bye Bye Anheuser-Busch

  1. #1
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    Bye Bye Anheuser-Busch

    [QUOTE][B]1,000 accept A-B buy-out[/B]

    St. Louis Business Journal - by Christopher Tritto
    Anheuser-Busch Cos. Inc. said nearly 1,000 employees have accepted its early retirement program offer as of today's deadline. A spokesman said that those retirements coupled with positions eliminated through attrition put Anheuser-Busch ahead of its goal to eliminate 1,300 eligible salaried employees as part of a $1 billion cost-cutting program.

    Employees have been weighing their options as Anheuser-Busch moves ever closer to completing its sale to Belgian brewer InBev. The U.S. Justice Department cleared the sale today. On Nov. 12, Anheuser-Busch shareholders approved sale for $52 billion, or $70 a share, at a special meeting held outside New York City. InBev shareholders previously voted in favor of the deal Sept. 29. Depending on the timing of final regulatory approvals, the takeover could close as early as the end of this month.

    [B]The deal will end Anheuser-Busch’s 156-year history of independence and merge America’s largest brewer into the world’s largest beer company. The combined company will be called Anheuser-Busch InBev and have annual revenue of $36.4 billion. Its headquarters will be in Leuven, Belgium, though St. Louis will remain the company’s North American headquarters and home to the flagship Budweiser brand.[/B]

    The early retirement buyout is part of the brewery’s plan, dubbed Blue Ocean, to cut $1 billion in costs by 2010. The company hoped 10 percent to 15 percent of its 8,600 U.S.-based salaried employees will accept the buyout.

    The planned work force cuts came prior to the agreement by Anheuser-Busch to be acquired by InBev. If not enough employees leave the company, those left behind could face the possibility of layoffs, either by Anheuser-Busch or under InBev ownership. Two brewery employees and an outside contractor told the Business Journal there are plans to lay off as many as 300 staff engineers in the coming weeks.



    [email]ctritto@bizjournals.com[/email][/QUOTE]

    [url]http://www.bizjournals.com/stlouis/stories/2008/11/10/daily78.html[/url]

  2. #2
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    It's only a matter of time before Toyota buys Ford or GM

  3. #3
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    Bye bye?

  4. #4
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    This happened over the summer, this isn't news. I hate Budwiser beer, but after living in St. Louis, I actually felt a bit of alliance to them and refuse to drink any ImBev products (Or at least Stella Artois).

  5. #5
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    [QUOTE=Batmans A Scientist;2864164]This happened over the summer, this isn't news. I hate Budwiser beer, but after living in St. Louis, I actually felt a bit of alliance to them and refuse to drink any ImBev products (Or at least Stella Artois).[/QUOTE]

    You sympathize with them, so you'll refuse to buy their future products? Yeah, that's what they want. Who cares about an ownership change?

  6. #6
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    One more American company goes away. Only a matter of time before the North American HQ are not needed as well.


    [QUOTE=BrooklynBound;2864153]Bye bye?[/QUOTE]

  7. #7
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    [QUOTE=cr726;2864202]One more American company goes away. Only a matter of time before the North American HQ are not needed as well.[/QUOTE]

    Why does it matter if they are American? Why would this cause you to boycott a product?

  8. #8
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    I haven't said a word about boycotting anything.

    [QUOTE=BrooklynBound;2864204]Why does it matter if they are American? Why would this cause you to boycott a product?[/QUOTE]

  9. #9
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    [QUOTE=BrooklynBound;2864204]Why does it matter if they are American? Why would this cause you to boycott a product?[/QUOTE]

    It matters to me to be honest..

  10. #10
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    It shouldn't matter that a gigantic U.S. employer just sold out? I don't get some people.

    [QUOTE=CTM;2864212]It matters to me to be honest..[/QUOTE]

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    When the commercials come on tv, I like to sing along but add in "the Belgian beer" in place of whatever they sing after "Budweiser." It's pretty fun.

  12. #12
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    [QUOTE=cr726;2864219]It shouldn't matter that a gigantic U.S. employer just sold out? I don't get some people.[/QUOTE]

    Matters in what context? That we don't have the good ol' American brand anymore? If they are smart, they won't change the beer or market it differently. This is globalization, nothing we can do about it.

  13. #13
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    [QUOTE=CTM;2864212]It matters to me to be honest..[/QUOTE]

    Well, then this is one more reason to disagree with our intentional government policy to devalue the dollar -- it makes our assets look that much cheaper to foreign investors and businesses

  14. #14
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    Nothing you can do about it? When a company is making 34 billion a year and you have to sell?

    What jobs are going to be left in this country? Blue collar jobs are evaporating and not everyone is capable of white collar jobs.

    Our country was built on hard working Americans, what do we do when there aren't anymore jobs?



    [QUOTE=BrooklynBound;2864380]Matters in what context? That we don't have the good ol' American brand anymore? If they are smart, they won't change the beer or market it differently. This is globalization, nothing we can do about it.[/QUOTE]

  15. #15
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    [QUOTE=cr726;2864416]Nothing you can do about it? When a company is making 34 billion a year and you have to sell?

    What jobs are going to be left in this country? Blue collar jobs are evaporating and not everyone is capable of white collar jobs.

    Our country was built on hard working Americans, what do we do when there aren't anymore jobs?[/QUOTE]

    Yes, the owners want to sell. That's their right.

    What can we do about it?

  16. #16
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    You are right, but once again no one cares about the "greater good", it is all about dollars and cents. This is one of the biggest reasons the U.S. is in the position we are now.

    [QUOTE=BrooklynBound;2864419]Yes, the owners want to sell. That's their right.

    What can we do about it?[/QUOTE]

  17. #17
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    [QUOTE=BrooklynBound;2864419]Yes, the owners want to sell. That's their right.

    What can we do about it?[/QUOTE]
    If only we had known what was coming... The government could've bought it, at least it's profitable :D

  18. #18
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    [QUOTE=cr726;2864416]Nothing you can do about it? When a company is making 34 billion a year and you have to sell?

    What jobs are going to be left in this country? Blue collar jobs are evaporating and not everyone is capable of white collar jobs.

    Our country was built on hard working Americans, what do we do when there aren't anymore jobs?[/QUOTE]But my understanding is that Bud is still going to be brewed in St. Louis (and other locations in the US). Don't think many blue collar workers will be making the daily commute from Brussels. These will likely be the same workers that were there before, just their paycheck will have a different name. Beer is not vital to national security, so I don't see much of a problem in this situation.

  19. #19
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    [QUOTE=cr726;2864420]You are right, but once again no one cares about the "greater good", it is all about dollars and cents. This is one of the biggest reasons the U.S. is in the position we are now.[/QUOTE]

    Companies should be about profits. The greater good doesn't pay for payroll, capital construction, or dividends. We have non-profits for the greater good.

  20. #20
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    It is only a matter of time, IMBEV doesn't buy companies if they can't make more money somehow.

    [QUOTE=HDCentStOhio;2864603]But my understanding is that Bud is still going to be brewed in St. Louis (and other locations in the US). Don't think many blue collar workers will be making the daily commute from Brussels. These will likely be the same workers that were there before, just their paycheck will have a different name. Beer is not vital to national security, so I don't see much of a problem in this situation.[/QUOTE]

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