Well, it is a waste of corn.

Belgian Brewer InBev is offering a big payday to shareholders of Anheuser-Busch Cos. (BUD) (BUD) Inc., but its bid to create the world’s largest beer company is already facing a major obstacle - U.S. election-year politics. [snip]
Republican Gov. Matt Blunt said Wednesday he opposes the deal, and directed the Missouri Department of Economic Development to see if there was a way to stop it.

“I am strongly opposed to the sale of Anheuser-Busch, and today’s offer to purchase the company is deeply troubling to me,” Blunt said in a statement.

Web sites have sprung up opposing the deal on patriotic grounds, arguing that such an iconic U.S. firm shouldn’t be handed over to foreign ownership. One of the sites, called SaveAB.com, was launched by Blunt’s former chief of staff, Ed Martin.

“Shareholders should resist choosing dollars over American jobs,” Martin said in a statement Wednesday night. “Selling out to the Belgians is not worth it - because this is about more than beer: it’s about our jobs and our nation.” [snip]

Really? Politicians, from local to federal, spent the dollar to dirt, making everything from the Flatiron Building to BUD cheap enough to buy with pocket change.

What about the obscene profits made by Big Beer?

Bud’s profit margin is 8.74%, slightly more than all of Big Oil. We need to tax these windfall profits, products of misery from the mortgage meltdown.

Even as their overall profits have soared, major oil companies are earning a relatively modest 8.7 percent profit margin — the portion of the sale of each barrel that hits the bottom line. Major banks and drug makers, for example, enjoy profits margins that are twice as big.

Besides, slimming down BUD will free up more corn for ethanol; that puts more pressure on Evil Oil.

They should worry, BUD will be the only alcohol available for the family buggy fuel tank, about for what BUD is fit, if that.

Archived in: Big Beer, Big Oil, Big Pharma, Economy, Politicians