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Tag: beer

  • Bill Gates Makes a Bold Bet on Anheuser-Busch, Bud Light | Entrepreneur

    Bill Gates Makes a Bold Bet on Anheuser-Busch, Bud Light | Entrepreneur

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    Last month, Anheuser-Busch reported that its U.S. revenue had declined by 10.5% in the second quarter of 2023, primarily due to the declining sales of Bud Light. Sales to U.S. retailers saw a 14% decrease, underperforming the broader beer industry, with a revenue drop of $395 million in North America compared to the same period the previous year.

    However, one notable billionaire, Bill Gates, seems optimistic about the beer brand’s future.

    In the previous quarter of 2023, the Bill and Melinda Gates Foundation Trust acquired 1.7 million shares of Anheuser-Busch, worth about $95 million, according to an SEC filing.

    Related: ‘You Need to Stand for Your Values’: Heineken CEO Talks Bud Light Beer Sales Decline

    Gates made the stock purchase around the time when Anheuser-Busch reported its second-quarter earnings last month and, despite the investment, has incurred losses on the move thus far — the company’s stock has declined nearly 2% since his purchase and dropped 7% for the year, CNN reported.

    Since Bud Light’s collaboration with transgender influencer Dylan Mulvaney last spring, Bud Light has been embroiled in controversy, with some critics slamming the partnership and others slamming the response to the backlash.

    Anheuser-Busch CEO Michel Doukeris, however, said on an earnings call in July that the boycotts and controversy have not significantly impacted the company’s sales. Doukeris stated that while he didn’t want to “minimize” the controversy, the dip in Bud Light’s U.S. sales in the first few weeks of April only accounted for 1% of the company’s total global revenue during that period.

    “With this perspective, and in the context of our global business, we believe we have the experience, the resources and the partners to manage this,” Doukeris said at the time.

    Related: Kevin O’Leary Slams Anheuser-Busch CEO’s Listening Tour, Says It Won’t Stop Bud Light Backlash for One Huge Reason

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    Madeline Garfinkle

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  • ‘Cringe’: Ted Cruz Mocked For Super Awkward Beer Stunt On Live TV

    ‘Cringe’: Ted Cruz Mocked For Super Awkward Beer Stunt On Live TV

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    Sen. Ted Cruz (R-Tex.) is so angry he can hardly sip.

    Cruz ― who has been in the headlines lately for repeatedly getting duped by fake stuff he saw on the internet ― said “these idiots” want people to limit drinking to two beers a week.

    “That’s their guideline!” he said.

    That’s not the guideline.

    In the United States, the guidelines ― which are recommendations only ― suggest adult men should limit alcoholic drinks to two or less per day, while adult women should stick to one or less per day.

    But Cruz and others on the right are angry over comments from George Koob, director of the National Institute on Alcohol Abuse and Alcoholism, who told the Daily Mail that those recommendations could eventually change.

    “I mean, they’re not going to go up, I’m pretty sure,” he told the newspaper, noting that Canada’s guidelines currently recommend a limit of two drinks per week and said any eventual change in the United States could move more in that direction.

    The guidelines won’t change until 2025 at the earliest, and even then they would remain just recommendations and nothing more.

    But Cruz is so livid that he went on Newsmax to awkwardly sip a beer in protest.

    “They can kiss my ass!” he said, as he and those around him all took not-quite-simultaneous sips. Newsmax host Eric Bolling said something like “mmm OK” then took his own swig of a non-alcoholic beer:

    Cruz also resurrected his gripes about Bud Light, which drew the wrath of conservatives earlier this year due to a partnership with trans influencer Dylan Mulvaney.

    Cruz’s critics on X ― aka Twitter ― mocked him for the awkward segment on Newsmax:

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  • Anchor Brewing Employees Fight Closure, Seek Ownership | Entrepreneur

    Anchor Brewing Employees Fight Closure, Seek Ownership | Entrepreneur

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    Employees at the renowned San Francisco brewery, Anchor Brewing Co., have banded together to try and rescue the historic institution known as “America’s oldest craft brewery” — by purchasing and operating it themselves.

    Around 40 workers penned a letter on Wednesday to the current owners, Sapporo, outlining their intentions, Vinepair reported. The workers’ proposal, which calls for operating the brewery as a worker co-op, aims to stop Anchor’s assets from being sold off and keep the institution alive.

    Sapporo, which had acquired Anchor Brewing Co. in 2017 for a reported sum of $85 million, recently announced its intention to close the brewery and sell off its assets.

    The employees, represented by Pedro de Sá, a spokesperson for the Anchor union, emphasized that they are not seeking “handouts or charity.”

    “All we want is a fair shot at being able to continue to do our jobs, make the beer we love, and keep this historic institution open, de Sá wrote in the letter. “We do not want the brewery and brand we love to be sold off before we even had a chance.”

    Related: Anchor Brewing, America’s Oldest Craft Brewery, Shuts Down after 127 Years

    The workers’ letter requests Sapporo president Mike Minami to respond and engage in negotiations with the Anchor employees by the end of the day on Friday.

    “We couldn’t go down without some way of fighting for ourselves and the community we love,” Patrick Machel, a worker at Anchor told Vinepair.

    A sign is displayed on the front door of the Anchor Brewing Co. in 2017. Justin Sullivan | Getty Images

    Founded in 1896, Anchor has faced significant changes upon Sapporo’s acquisition — including a taproom, paid tours, and trendy beer styles — which have been met with negative feedback from employees and putting the brewery’s “craft” status in jeopardy.

    The Anchor employees are not the only ones eager to preserve the brand’s legacy. Last week, Rhode Island-based brewery, Narragansett Beer, circulated a petition to save Anchor, garnering interest from several private equity investors, Vinepair reported.

    Several Bay Area entrepreneurs have also expressed interest in purchasing the brand, including “serial investor” Mike Walsh, who has set up a website to seek potential investors, per The San Francisco Chronicle.

    “I definitely have enough interest and access to capital to put a competitive offer in so we could buy it,” he told the outlet.

    In the Anchor union’s letter, the employees request that Minami responds by the end of the day on Friday about the next steps, particularly in “creat[ing] the framework and rais[ing] the funds necessary for this purchase.”

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    Madeline Garfinkle

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  • America’s First Craft Brewery To Close After 127 Years

    America’s First Craft Brewery To Close After 127 Years

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    Anchor Brewing Co., often touted as America’s first craft brewery, is closing up shop after 127 years.

    The San Francisco-based brewery informed its 61 employees of the closure Wednesday morning, the San Francisco Chronicle reported. The company has already ceased brewing production at its Potrero Hill factory, but its taproom, Anchor Public Taps, will stay open until at least Aug. 1.

    In a statement, Anchor spokesperson Sam Singer said the company was losing millions of dollars a year.

    “We recognize the importance and historic significance of Anchor to San Francisco and to the craft brewing industry,” Singer said, “but the impacts of the pandemic, inflation, especially in San Francisco, and a highly competitive market left the company with no option but to make this sad decision to cease operations.”

    A variety of beers sit on a bar at Anchor Brewing Co. in 2019.

    San Francisco Chronicle/Hearst Newspapers via Getty Images via Getty Images

    The writing seemed to be on the wall for Anchor, which was acquired by beer giant Sapporo in 2017. Last month, the company ceased production of its popular Christmas Ale and halted national distribution, limiting sales to California merchants.

    In a statement, Anchor said it “made repeated efforts over the last year to find buyers for the brewery and its brands, but none have come to fruition.”

    The brewery is liquidating its assets through a process called California Assignments for the Benefit of Creditors (CA ABC), which is designed to return money to investors quickly, instead of declaring bankruptcy.

    “It is possible that a buyer will step forward for the brewery as part of the liquidating process. It is the hope of the Anchor team that such an outcome come to fruition,” the company said. “However, all decisions about the future will be in the hands of the independent, third-party CA ABC Assignee.”

    Current and former workers told VinePair, an alcohol-focused news outlet, that Sapporo is to blame for the closure, saying the Japanese conglomerate was deferring important brewery maintenance, fighting the union that workers formed in 2019, spending money on expensive automation equipment and investing in a controversial rebrand of the iconic logo in 2021.

    “I think Sapporo sunk Anchor,” Nate Dias, a former production worker, told VinePair.

    Sapporo did not immediately return requests for comment.

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  • After Dylan Mulvaney backlash, Bud Light releases “grunts” ad with Kansas City Chiefs’ Travis Kelce

    After Dylan Mulvaney backlash, Bud Light releases “grunts” ad with Kansas City Chiefs’ Travis Kelce

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    Bud Light is reverting to a male-focused tack in its advertising strategy, rolling out a new ad featuring Kansas City Chiefs’ tight end Travis Kelce. The retro ad comes in the wake of ongoing conservative backlash related to the beer brand’s marketing campaign earlier this year with transgender TikTok star Dylan Mulvaney.

    Called “Backyard Grunts with Travis Kelce,” the commercial features the football player dressed in casual summer attire among other similarly dressed men as they settle into lawn chairs with grunts and groans. Some of them pop open cans of Bud Light once comfortably sprawled in their seat. 


    Backyard Grunts with Travis Kelce | Bud Light by
    Bud Light on
    YouTube

    The latest ad, released on Sunday, comes as parent company Anheuser-Busch InBev is seeking to regain its footing after Bud Light sales plunged in May, dethroning the beer from its longtime position as America’s best-selling brew. The brand faced a boycott from some drinkers following a promotion debacle with Mulvaney, with some conservatives objecting to the marketing push featuring a trans woman. 

    Brendan Whitworth, the CEO of Bud Light parent company Anheuser-Busch InBev (ABI), told “CBS Mornings” last month that the company is sending financial assistance to distributors and wholesalers affected by the dip in sales since Mulvaney’s Bud Light promo video went viral. 

    “Good times, goodwill”

    He added that Anheuser-Busch plans to triple its investment in Bud Light this year as the company launches its upcoming summer campaign and prepares for the upcoming NFL season. 

    “Over the last month we’ve talked to over 100,000 consumers and their feedback is very clear. What is it? The feedback is to reinforce what Bud Light has always meant to them, which is good times, goodwill, and easy enjoyment,” he said. 

    The latest ad attempts to do that, by showing middle-aged men as they relax at backyard parties, near their cars and so on. But it’s unclear whether it can help win back conservative drinkers who are now snubbing the beer in favor of other brands, with many of the comments on the YouTube video’s page falling into the critical or negative camp. 

    The ad also makes no attempt to make peace with the LGBTQ community, members of whom have also boycotted the beer.

    “It was absolutely an easy decision,” Mark Robertson, co-owner of 2Bears Tavern Group in Chicago, in reference to his choice to remove all Anheuser Busch InBev products from the bar’s menu, told CBS Chicago. “They kept re-doubling their efforts to bow down to those who were spewing hate.”

    Last week, Mulvaney spoke out about the controversy, saying that Bud Light failed to support her or even reach out after the backlash, which stemmed from a promo video she posted featuring a personalized beer can sent to her by Bud Light.

    “For a company to hire a trans person and then not publicly stand by them is worse, in my opinion, than not hiring a trans person at all,” Mulvaney said in a video on Thursday. “It gives customers permission to be as transphobic and hateful as they want.”

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  • Bud Light Offers Rebate for July Fourth, Basically Free Beer | Entrepreneur

    Bud Light Offers Rebate for July Fourth, Basically Free Beer | Entrepreneur

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    Bud Light sales have declined over the past three months after an influencer partnership controversy sparked boycotts so widespread, the brand lost its title of America’s No. 1 selling beer to Modelo in May.

    Now, Bud Light parent company Anheuser-Busch is offering rebates of up to $15 for the Fourth of July holiday weekend in an effort to boost sales. The rebate applies to purchases of a 15-pack of Budweiser, Bud Light, Budweiser Select, or Budweiser Select 55.

    While terms vary based on location, in certain areas where a 15-pack is less than $15, the beer ends up being essentially free.

    Related: Bud Light Launches ‘Biggest Summer Campaign Ever’ Amid Backlash and a Decline in Sales

    “Make your Fourth of July weekend easy to enjoy,” the company says on the rebate page.

    While Anheuser-Busch ran the same promotion over Memorial Day Weekend, this time around, the rebate offer is part of a broader summer campaign — which the company touted as “the biggest ever” for Bud Light — to reel back customers after months of sinking sales.

    Other campaign initiatives include a concert series called the “Bud Light Backyard Tour,” digital ads featuring NFL players Travis Kelce, George Kittle, and Dak Prescott, and $10,000 weekly cash giveaways.

    Related: San Francisco Launches $6 Million Ad-Campaign to Lure Tourists Amid Retail Exodus and Drug Crisis

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    Madeline Garfinkle

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  • Anheuser-Busch CEO Brendan Whitworth says financial assistance is being sent to wholesalers, beer distributors impacted by boycott backlash

    Anheuser-Busch CEO Brendan Whitworth says financial assistance is being sent to wholesalers, beer distributors impacted by boycott backlash

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    The CEO of Anheuser-Busch, the parent company of Bud Light, said financial assistance has already begun being sent to wholesalers and beer distributors affected by a two-month sales decline caused by an ongoing customer boycott.

    Brendan Whitworth acknowledged his accountability as CEO for the repercussions faced by employees, consumers, and distributors due to the backlash that began in response to a video posted on Instagram by transgender social media star Dylan Mulvaney. The video showcased personalized Bud Light cans Mulvaney received as a “gift” according to Whitworth.

    Bud Light, which had held the distinction of America’s top-selling beer for over two decades, lost its position to Modelo in May, signifying a significant shift in the beer market. 

    “I think it’s the impact, honestly on the employees that weighs most on me. Again, as I mentioned, seeing the pride and the commitment that they have, working on behalf of 165-plus-year-old American institution is what gives us energy as we look to move forward and focus on what we do best,” Whitworth, told “CBS Mornings” exclusively. 

    Conservatives like Kid Rock and Travis Tritt joined the uproar, calling for a boycott of the popular brew. Viral videos even showed people shooting and dumping Bud Light cans. As a result, many members of the LGBTQ+ community also joined the boycott, upset with how Anheuser-Busch distanced itself following the backlash through a series of statements. 

    When asked about Bud Light’s stance on LGBTQ+ rights, Whitworth highlighted the company’s history of supporting the queer community since 1998. He stressed their commitment to supporting organizations and communities they’ve been associated with for years while focusing on their product. 

    “As we move forward, we want to focus on what we do best, which is brewing great beer for everyone, listening to our consumers, being humble in listening to them, making sure that we do right by our employee, take care and support our partners, and ultimately make an impact in the communities that we serve,” he said. 

    Despite the recent setbacks, Whitworth said Anheuser-Busch plans to triple its investment in Bud Light this year as they launch their upcoming summer campaign and prepare for the upcoming NFL season. 

    “Over the last month we’ve talked to over 100,000 consumers and their feedback is very clear. What is it? The feedback is to reinforce what Bud Light has always meant to them, which is good times goodwill, and easy enjoyment,” he said. 

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  • Bud Light Launches ‘Biggest Campaign Ever’ to Win Back Consumers | Entrepreneur

    Bud Light Launches ‘Biggest Campaign Ever’ to Win Back Consumers | Entrepreneur

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    Over the past three months, Bud Light has lost billions in sales and market value — revenue was down by 26.8% for the week of June 10 compared to a year prior, according to data from Bump Williams Consulting and NielsenIQ.

    The stark drop in revenue comes after Bud Light sent transgender influencer Dylan Mulvaney cases of beer — one of which had her face on it — as part of a brand partnership in April. But the influencer’s post promoting a brand giveaway stirred controversy, triggering boycotts from consumers who disapproved of the union and criticism from those who disapproved of Bud Light’s response and subsequent distancing from its earlier commitment.

    Now, the beer brand is trying to reel customers back in with money giveaways and other promotions.

    On Thursday, Bud Light released a new television commercial titled “Easy to Summer” set to the 1979 hit song “Good Times” by Chic. The ad is only a fraction of the broader campaign by Bud Light’s parent company, Anheuser-Busch, to boost engagement and sales — calling it “Bud Light’s biggest summer campaign ever.”

    Related: San Francisco Launches $6 Million Ad-Campaign to Lure Tourists Amid Retail Exodus and Drug Crisis

    The company is launching a “Bud Light Backyard Tour,” which will headline country music singers Tyler Braden and Seaforth. Bud Light is also working with NFL stars such as Travis Kelce, George Kittle, and Dak Prescott, who will be featured in digital content ahead of the upcoming season.

    As part of the summer campaign, Anheuser-Busch is also giving away $10,000 a week, offering rebates over the Fourth of July weekend, and holding a contest to win $100 off a bar tab.

    “We want to show up in all relevant occasions in summer — backyard barbecues, stadiums, and sports venues,” Todd Allen, vice president of Bud Light, told Variety. “That’s what counts and that’s what we are focused on.”

    Allen added that Anheuser-Busch has “more than tripled” its “already weighty” media investment behind Bud Light.

    The recent boycotts have caused such a decline in sales that Bud Light also lost its title as America’s No. 1 selling beer in May, which was swept up by Modelo, per The Wall Street Journal.

    Related: Regulator: Molson Coors Miller Lite Ad Went too Far Comparing Rival Products to Water

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    Madeline Garfinkle

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  • Bud Light is no longer America’s best-selling beer. Here’s why.

    Bud Light is no longer America’s best-selling beer. Here’s why.

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    Bud Light sales plunged in May, toppling the beer brand from its longtime perch as the nation’s best-selling brew.

    Parent company Anheuser-Busch InBev (ABI) sold $297 million worth of Bud Light for the four weeks ending May 28 — a 23% drop from the same time period the year before, according to consumer behavior data analytics firm Circana. Modelo Especial ranked No.1 in May, with $333 million in sales — a 15% increase from 2022.

    The sales drop for Bud Light follows a promotion debacle with TikTok star Dylan Mulvaney, a trans rights activist and actress, that sparked an uproar among conservatives including singers Kid Rock and Travis Tritt, who called for a boycott of the popular beer. 


    Budweiser releases new ad amid backlash over partnership with Dylan Mulvaney

    06:39

    Anheuser-Busch’s Global CEO, Michel Doukeris, said last month on an investor call that Budweiser was still experiencing conservative backlash over the episode, in part because the public mistakenly believed it had a long-term partnership with the social media influencer.

    The company’s attempt to distance itself from the campaign caused further backlash, this time from the LGBTQ+ community, with some bars pulling all Anheuser-Busch products from their menu.

    ABI did not immediately respond to a request for comment Thursday.

    “Serious course correction” needed

    To be sure, Bud Light is still enormously popular and has sold more cases than any competitor year to date, but the Mulvaney fiasco threatens to change that, according to Bump Williams Consulting, which tracks the alcohol industry. 

    “Unless Bud Light starts to experience a serious course correction in terms of performance, which can only come from consumers finding their way back into the brand family, then that firm grip on the No. 1 rank by year-end loosens a bit more every week,” Dave Williams, vice president of analytics and insights at Bump Williams Consulting, told CBS MoneyWatch. 

    Williams pointed out that Bud Light had been the best-selling beer prior to May, and if it can reverse its sales decline, the brand could regain its top spot, he added.

    Modelo Especial is a pilsner-style lager that began nearly 100 years ago in Mexico. Constellation Brands bought Modelo from ABI in 2013. Since then, Constellation has prioritized sales of Modelo, specifically by making sure stores never run out of stock, Williams said. 

    According to Circana, the top-selling beer brands in the U.S. in May included: 

    • Modelo Especial ($333.1 million)
    • Bud Light ($297.3 million)
    • Michelob Ultra ($267.6 million)
    • Coors Light ($241 million)
    • Miller Lite ($216.4 million)

    Constellation also plans to increase the brand’s sales by introducing “Modelo to new consumers through increased distribution and presence at retail,” a company spokesperson told CBS MoneyWatch on Thursday.

    Summer sales heat up competition

    The next two months will be crucial for Bud Light sales as the summer ushers in more holidays and beer-drinking, Williams said. Breweries also use the summer to place more in-store displays at grocers and gas stations, he added. 

    “Companies invest a lot into being front and center and top of mind during this season as there is only so much floor space to allocate; consumer money to spend and beer occasions to fulfill,” Williams said. “And if a brand misses those opportunities, then that is almost impossible to fully recover that lost potential over the balance of the calendar year.”

    One place Bud Light won’t be in short supply: Friends in Low Places, a bar in Nashville owned by country music singer Garth Brooks. 

    “We’re going to serve every brand of beer. We are,” the star said at a live Q&A event with Billboard. “It’s not our decision to make.”

    Brooks told the audience that he wants to encourage inclusive behavior at his bar and that those who do not wish to comply can take their business elsewhere.

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  • Bud Light sales keep slipping. But it remains America’s top-selling beer | CNN Business

    Bud Light sales keep slipping. But it remains America’s top-selling beer | CNN Business

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    New York
    CNN
     — 

    Roughly two months after Bud Light endured a self-induced injury that torpedoed sales, the brand continues to lose ground to its competition. But there are signs the worst might be over.

    Sales for the week leading into Memorial Day weekend fell 23.9% from the same period a year ago. That constitutes a slight improvement compared to the week prior when sales were 25.7% lower than a year earlier. That could indicate that the “bottom has been hit and we are seeing a turn-around in performance,” according to Bump Williams, an alcohol industry expert.

    For the past several weeks, Bud Light sales declines have hovered around 25% weekly because of customer revolt following an Instagram partnership with transgender influencer Dylan Mulvaney. A single can bearing her face was given to her for a post, but some right-wing media attacked the brand, and some social media posts spewed transphobic comments.

    Anheuser-Busch’s tepid statement about the controversy also angered some LGBTQ+ groups.

    In response, Anheuser-Busch

    (BUD)
    said it was bolstering marketing on Bud Light and would offer rebates to customers. Last weekend, the company offered $15 back on 15-packs of beer, leading to cases priced as low as $1.50 in some states, which Williams said contributed to part of its minor turnaround.

    Still, Bud Light remains the top-selling beer in America, according to NIQ data provided to CNN by Williams. NIQ measures sales at convenience, liquor and grocery stores across the United States. Bud Light has made up 35.1% of domestic beer sales this year (through May 27), according to NIQ. That easily beats No. 2 Coors Light, which controls 21.6% of the market.

    Although Bud Light’s share of the domestic beer market has slipped considerably over the past couple months, it remains in the lead. In the week ended May 27, Bud Light controlled 28.8% of the market, compared to Coors Light, which made up 25.6% of overall sales, NIQ reported.

    The biggest beneficiaries of Bud Light’s slipping sales continue to be MolsonCoors’ Miller Light and Coors Light, with sales up a whopping 26% and 23% respectively, according to NIQ. Beer Business Daily reported Monday that some distributors are reporting shortages, but a company spokesperson told CNN that its supply is strong for the summer.

    Another bright spot is Modelo, distributed by Constellation Brands

    (STZ)
    . Sales of its Modelo Especial and its recently launched low-carb beer Modelo Oro are strong, with sales up 9.5% and its share of the total beer category surpassing Bud Light last week, Williams said. He added that it’s “not a surprise” because of a halo effect from Cinco de Mayo and heavy advertising supporting its Oro launch.

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  • Bud Light troubles prompts call to buy stocks of Boston Beer, Constellation Brands

    Bud Light troubles prompts call to buy stocks of Boston Beer, Constellation Brands

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    Bud Light’s recent troubles should worsen in the summer, to the benefit of its competition’s brands, enough to turn Roth MKM analyst Bill Kirk bullish on the stocks of Constellation Brands Inc. and Boston Beer Co. Inc.

    Kirk raised on Tuesday his rating on Modelo, Corona, Pacifico beer parent Constellation Brands to buy, after being at neutral since January 2021, while boosting his stock price target to $270 from $216.

    Kirk said a lot of the market share Anheuser-Busch InBev SA’s Bud Light lost, amid backlash from the beer brand’s partnership with trans influencer Dylan Mulvaney, went to other premium light products, but he expects that to shift to Constellation’s favor.

    “As the weather warms, we expect the share gains for Modelo Especial and Corona to accelerate,” Kirk wrote in a note to clients.

    Constellation Brands’ stock
    STZ,
    +1.79%

    rose 1.5% in afternoon trading Tuesday toward the highest close since Dec. 12, 2022, while Anheuser-Busch shares
    BUD,
    -4.71%

    slumped 4.5% toward the lowest close since Nov. 10.

    Also read: Bud Light anti-trans backlash has some weighing potential ‘chilling effect’ on corporate LGBTQ+ support

    He noted that weekly scanner data has shown that Constellation’s beer portfolio outperformed the broader beer market by seven percentage points in early 2023, and that outperformance improved to 10 percentage points at the beginning of Bud Light’s market-share losses in April.

    “With temperatures warming and substitutability with Bud Light increasing, recent weeks have seen 13 [percentage points] of outperformance,” Kirk wrote. “This trend should continue as Bud Light [declines/peak] over summer holidays.”

    For Samuel Adams, Truly, Twisted Tea parent Boston Beer, Kirk raised his rating to buy, after being at neutral for at least the past three years. He raised his stock price target to $386 from $274.

    Boston Beer’s stock
    SAM,
    +5.37%

    jumped 6.8% toward the highest close since Feb. 15.

    Earlier this year, Kirk was concerned that Truly hard seltzer’s weakness continued, offsetting Twisted Tea’s success, and that gross margins weren’t improving even after moving more production in-house.

    Read more: Bud Light crisis: It’s unclear how U.S. volume drop will end, analysts say

    “Now, we believe seltzer and Truly will benefit in the summer from Bud Light share losses (occasion overlap increases with warmer weather) and gross margin lift from production shift will be realized in 2Q (given inventory days timing),” Kirk wrote.

    He believes that will shift investor focus away from Truly’s weakness and toward Boston Beer’s brands that are growing.

    And while Wall Street expects the trends Boston Beer saw in the first quarter to continue throughout 2023, Kirk now believes the company will beat expectations for shipments and depletions, and sees opportunities for margins to also beat forecasts.

    “While we had written at 1Q that the ‘timing of upside surprises remains unclear,’ we now believe the timing is Summer 2023,” Kirk wrote.

    Constellation Brands’ stock has gained 5.7% over the past three months and Boston Beer shares have advanced 4.8%, while Anheuser-Busch’s stock has dropped 10.1% and the S&P 500 index
    SPX,
    +0.00%

    has gained 5.9%.

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  • Joel Dahmen gives golf fan $100 to buy beers after hitting him with errant ball at PGA Championship | CNN

    Joel Dahmen gives golf fan $100 to buy beers after hitting him with errant ball at PGA Championship | CNN

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    CNN
     — 

    One golf fan has found an unusual way to bypass having to pay for beers at the PGA Championship this week – take a Joel Dahmen tee shot to the leg.

    Dahmen was at the first tee of his final practice round Wednesday when his wayward drive struck spectator Caleb McGuire, the spectator said in a tweet.

    Pictures showed a sizeable bruise on the fan’s calf, but his pain was eased when the American golfer subsequently asked about the cost of a beer at the major, hosted at Oak Hill Country Club in Rochester, New York.

    When told each beer cost $17, Dahmen handed over $100 for some refreshments, McGuire said, with the tweet showing the duo posing for pictures with the bill.

    Dahmen’s act of generosity comes a year after two-time PGA Championship winner Justin Thomas expressed his disbelief at the reported $18 cost of beer at the 2022 edition of the major in Tulsa.

    “Sorry about that! Hope you enjoyed the beers,” Dahmen tweeted in response.

    “It was a pleasure just to meet you!” McGuire replied. “We couldn’t stop talking about it for the rest of the day. Go ahead and win this week!”

    Reporter asks Justin Thomas about high concession stand prices

    Dahmen shot to fame following his starring role as the self-proclaimed, self-depreciating, “goofball” of the PGA Tour in “Full Swing”, Netflix’s fly-on-the-wall docuseries released earlier this year.

    In an episode titled “Imposter Syndrome,” the show offered a candid insight into the 35-year-old’s wrestles with self-belief.

    “I’m a middle of the road PGA Tour player,” Dahmen explained.

    Dahmen (L) won hearts after his appearance in Netflix's

    “The top players … they’re just built differently. They’re mentally just different. They hit it further and they chip and putt better. I’m not a threat when I walk into these things, really.

    “I am not going to be a hall of famer. When I retire from golf, no one’s going to remember who I am. I understand that, I’m fine with it. I’m not playing for legacy. Some people are like, ‘That’s why you’ll never be great Joel, coz you don’t believe it.’”

    However, the episode ended on a high note with Dahmen finishing inside the top 10 at the US Open in June last year, a career-best major performance.

    The world No. 108 enjoyed a strong end to 2022 but has endured a tough start to the current season, missing the cut in four of his last seven PGA Tour appearances.

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  • Popular Japan-Based Hospitality Group LIVELY HOTELS Launches Highly Lively, Its First Original IPA Beer

    Popular Japan-Based Hospitality Group LIVELY HOTELS Launches Highly Lively, Its First Original IPA Beer

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    The beer draws inspiration from the exhilaration of travel, and the hotel’s vibrant atmosphere enhances the experience.

    LIVELY HOTELS, a leading hospitality company created by popular Japan real-estate developer Global Agents, just announced the launch of its newest original IPA beer, Highly Lively. The beer is a tribute to the lively and dynamic atmosphere of LIVELY HOTELS’ properties, which are known for their exceptional hospitality, vibrant ambiance, and high energy.

    Highly Lively is a full-bodied and well-balanced IPA that showcases a beautiful blend of hops and malts. It has a bright, citrusy aroma that delights the senses and a smooth, crisp finish that makes it the perfect beer to enjoy on any occasion. The beer has an ABV of 6.5%, making it perfect for those who appreciate a full-bodied IPA with a little extra kick.

    “We are thrilled to introduce Highly Lively, our latest original IPA beer, to our guests and beer enthusiasts alike,” said Takeshi Yamasaki, CEO of Global Agents. “We wanted to create a beer that not only tastes great but also reflects the energy and atmosphere of our hotels. We are confident that Highly Lively will become a fan favorite among our guests and beer enthusiasts.”

    The creation of Highly Lively is a testament to LIVELY HOTELS’ commitment to delivering outstanding service and amenities that cater to the needs of today’s modern traveler. The company has always believed in offering guests a memorable experience that is unique to each of its properties. Highly Lively is an extension of this philosophy and a reflection of the vibrant atmosphere that can be found at LIVELY HOTELS’ properties.

    The brewing of this new beer was done in collaboration with SETOUCHI, a local craft brewery from the Kanagawa prefecture, particularly known for its exceptional quality. The brewery’s experienced brewmasters worked closely with Lively Hotels’ team to create a beer that captures the essence of Lively Hotels’ properties. The result is Highly Lively, a beer that is full of flavor and character. It has been meticulously crafted using only the finest ingredients, including carefully selected hops and malts. The beer’s flavor profile is complex and balanced, with a smooth finish that lingers on the palate.

    Highly Lively IPA will be available starting April 29 at all LIVELY HOTELS properties. Guests can enjoy the beer in the dynamic atmosphere of the hotels or take a taste of the lively energy with them wherever they go.

    Global Agents, the parent company of LIVELY HOTELS, was founded in 2005 and has enjoyed great success in the Japanese rental market with Social Apartment, their brand of co-living spaces. The company has since expanded exponentially, launching six different brands of lifestyle hotels across Japan. In 2020, they consolidated all of their brands under the name LIVELY HOTELS. With a current portfolio of 11 hotels and over 50 co-living apartments, Global Agents has become a prominent player in Japan’s hospitality industry. The company puts a focus on exceptional hospitality and memorable experiences and has established a reputation for delivering outstanding service and amenities that cater to the needs of today’s modern travelers.

    Source: Global Agents Co. Ltd

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  • Miller High Life,

    Miller High Life,

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    It doesn’t matter if a drink is bubbly — it’s not “champagne” unless it’s from the Champagne region in France. And it’s definitely not champagne if it’s beer, as American beermaker Miller found out, to its cost.

    The company has long advertised its Miller High Life as “The Champagne of Beers.” However, the Comité Champagne — the committee set up to protect the Champagne designation — begs to differ.

    Goods cannot be imported into Europe with the name “Champagne” if they are not produced in the Champagne region.

    Customs officers in Belgium seized a shipment of 2,352 cans of the beer in February, after it landed in the Belgian port of Antwerp, on its way to Germany. Officials seized the cans “because they used the protected designation of origin ‘Champagne,’ and this goes against European regulations,” Belgian customs general administrator Kristian Vanderwaeren told reporters.

    A case of Miller High Life beer
    Miller High Life has marketed itself as “The Champagne of Beers” since 1906.

    Andrew Burton / Getty Images


    The European Union has a system of protected geographical designations that was created to guarantee the true origin and quality of artisanal food, wine and spirits, and to protect them from imitation.

    The Comité Champagne has been active in preventing other regions and countries from calling their sparkling white wines “champagne,” even when some are produced by French champagne houses investing abroad, as has been the case in Australia, for example.

    Based in Milwaukee, Miller has been using the phrase “Champagne of Beers” since 1906.

    At the request of the Champagne Committee, the Belgian Customs Administration ordered the cans destroyed. So this week, customs officers popped each can, upended them in open-bottomed crates, and let the offending liquid seep out.

    Then the empty cans were crushed by heavy machinery and sent for recycling.

    Europe Champagne of Beers
    In this image provided by Comité Champagne, a worker prepares to press the button on a machine to crush empty Miller High Life beer cans at the Westlandia plant in Ypres, Belgium, Monday, April 17, 2023. 

    Comité Champagne via AP


    Belgian customs officials said the destruction of the cans was paid for by the Comité Champagne. According to a joint statement, it was carried out “with the utmost respect for environmental concerns by ensuring that the entire batch, both contents and container, was recycled in an environmentally responsible manner.”

    Europe Champagne of Beers
    In this image provided by Comité Champagne, cans of Miller High Life beer sit in a container after being crushed at the Westlandia plant in Ypres, Belgium, Monday, April 17, 2023. Belgian customs destroyed more than 2,000 cans of Miller High Life, advertised as the “Champagne of Beers” at the request of the committee representing the Champange industry.

    Comité Champagne via AP


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  • Anheuser-Busch CEO Issues Lukewarm, Flat Statement Amid Dylan Mulvaney Controversy

    Anheuser-Busch CEO Issues Lukewarm, Flat Statement Amid Dylan Mulvaney Controversy

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    Sure, beer is often canned — but statements from beer company executives probably shouldn’t be.

    On Friday, Anheuser-Busch CEO Brendan Whitworth issued a decidedly flat and lukewarm message amid a controversy over Bud Light’s recent collaboration with transgender actor Dylan Mulvaney.

    On April 1, Mulvaney had posted a social media video showing off special Bud Light cans featuring her image. An Anheuser-Busch spokesperson told HuffPost that the “commemorative can seen in the video was intended as a gift to celebrate a personal milestone and is not for sale to the general public.”

    Despite this, Mulvaney’s video inspired a lot of Bud Light hate from conservatives. These included the musician Kid Rock, who posted a video of himself shooting cases of the beer, and country music stars John Rich and Travis Tritt, who called for a Bud Light boycott.

    Meanwhile, Budweiser factories nationwide were reportedly the targets of bomb threats this week.

    Whitworth, who took the helm of Anheuser-Busch in 2021, tried to defuse tensions with Friday’s statement, which appeared to have anything meaningful massaged out of it.

    “As the CEO of a company founded in America’s heartland more than 165 years ago, I am responsible for ensuring every consumer feels proud of the beer we brew,” he wrote, noting Anheuser-Busch’s employment figures and its support for “hard-working Americans.”

    Next, Whitworth touched on why he felt obliged to issue a statement without naming the exact reason for why he was making it.

    “We never intended to be part of a discussion that divides people. We are in the business of bringing people together over a beer,” he said.

    The former Marine then returned to vague profundities and a bland appeal to patriotism.

    “My time serving this country taught me the importance of accountability and the values upon which America was founded: freedom, hard work and respect for one another,” Whitworth said.

    “I am focused on building and protecting our remarkable history and heritage,” he added. “I care deeply about this country, this company, our brands and our partners. I spend much of my time traveling across America, listening to and learning from our customers, distributors and others.”

    Whitworth promised to “continue to work tirelessly to bring great beers to consumers across our nation” — presumably by offering more bland, inoffensive statements.

    Whitworth’s message may have appealed to risk-averse Anheuser-Busch shareholders and the corporation’s nervous-Nellie public relations team, but not to anyone else, based on the reaction from Twitter users.

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  • This is the dynamic that could decide the 2024 GOP race | CNN Politics

    This is the dynamic that could decide the 2024 GOP race | CNN Politics

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    CNN
     — 

    The same fundamental dynamic that decided the 2016 Republican presidential primaries is already resurfacing as the 2024 contest takes shape.

    As in 2016, early polls of next year’s contest show the Republican electorate is again sharply dividing about former President Donald Trump along lines of education. In both state and national surveys measuring support for the next Republican nomination, Trump is consistently running much better among GOP voters without a college education than among those with a four-year or graduate college degree.

    Analysts have often described such an educational divide among primary voters as the wine track (centered on college-educated voters) and the beer track (revolving around those without degrees). Over the years, it’s been a much more consistent feature in Democratic than Republican presidential primaries. But the wine track/beer track divide emerged as the defining characteristic of the 2016 GOP race, when Trump’s extraordinary success at attracting Republicans without a college degree allowed him to overcome sustained resistance from the voters with one.

    Though the early 2024 polls have varied in whether they place Trump or Florida Gov. Ron DeSantis in the lead overall (with the latest round tilting mostly toward Trump), that same overriding pattern of educational polarization is appearing in virtually all of those surveys, a review of public and private polling data reveals.

    “Trump does seem to have a special ability to make this sort of populist appeal [to non-college voters] and also have a special ability to make college-educated conservatives start thinking about alternatives,” GOP pollster Chris Wilson said in an email. “I think we’ll continue to see a big education divide in his support in 2024.”

    The stark educational split in attitudes toward Trump frames the strategic challenge for his potential rivals in the 2024 race.

    On paper, none of the leading candidates other than DeSantis himself seems particularly well positioned to threaten Trump’s hold on the non-college Republicans who have long been the most receptive audience for his blustery and belligerent messaging. By contrast, most of the current and potential field – including former Governors Nikki Haley and Chris Christie; current Governors Chris Sununu of New Hampshire and Glenn Youngkin of Virginia; former Vice President Mike Pence; and Sen. Tim Scott – appear better suited to attract the white-collar Republicans who have always been the most skeptical of Trump.

    That could create a situation in which there’s too little competition to Trump for voters on the “beer track” and too many options splintering the voters resistant to him on the “wine track.” That was the dynamic that allowed Trump to capture the nomination in 2016 even though nearly two-thirds of college-educated Republicans opposed him through the primaries, according to exit polls, and he didn’t reach 50% of the total vote in any state until the race was essentially decided.

    While the political obstacles facing Trump look greater now than they were then, his best chance of winning in 2024 would likely come from consolidating the “beer track” to a greater extent than anyone else unifies the “wine track” – just as he did in 2016. In each of the past three contested GOP presidential primaries, the electorate have split almost exactly in half between voters with and without college degrees, analyses of the exit polls have found.

    “Right now, unless somebody cracks that code to get competitive with Trump there [among blue-collar Republican voters], it could fall into the old pattern which is the best scenario for him,” said long-time GOP strategist Mike Murphy, who directed the super PAC for Jeb Bush in the 2016 race.

    Jennifer Horn, the former GOP state chair in New Hampshire, added that while Trump’s ceiling is likely lower than in 2016, he could still win the nomination with only plurality support if no one unifies the majority more skeptical of him. “He isn’t going to need 50% to win,” cautioned Horn, a leading Republican critic of Trump.

    The wine track/beer track divide has been a consistent feature of Democratic presidential primary politics since 1968. Since then, a procession of brainy liberal candidates (think Eugene McCarthy in 1968, Gary Hart in 1984, Paul Tsongas in 1992 and Bill Bradley in 2000) have mobilized socially liberal college-educated voters against rivals who relied primarily on support from non-college educated White voters and racial minorities (Robert F. Kennedy, Walter Mondale, Bill Clinton and Al Gore in those same races). In the epic 2008 Democratic primary struggle, the basic divide persisted in slightly reconfigured form as Barack Obama attracted just enough white-collar White and Black voters to beat Hillary Clinton’s coalition of blue-collar Whites and Latinos. Joe Biden in 2020 was mostly a beer track candidate.

    Generally, over those years, the educational divide had not been as important in Republican primary races. More often GOP voters have divided among primary contenders along other lines, including ideology and religious affiliation. Both the 2008 and 2012 GOP races, for instance, followed similar lines in which a candidate who relied primarily on evangelical Christians and the most conservative voters (Mike Huckabee in 2008 and Rick Santorum in 2012) ultimately lost the nomination to another who attracted more support from non-evangelicals and a broader range of mainstream conservatives (John McCain and Mitt Romney).

    The conservative columnist Patrick J. Buchanan, in his long-shot 1992 and 1996 bids for the GOP nomination, pioneered a blue-collar conservatism centered on unwavering cultural conservatism and an economic nationalism revolving around hostility to foreign trade and immigration. Huckabee and even more so Santorum advanced those themes, clearing a path that Trump would later follow – with a much harsher edge than either.

    In 2008, there was no educational divide in the GOP race: McCain won exactly the same 43% among Republican voters with and without a college degree, according to a new analysis of the exit poll results by CNN polling director Jennifer Agiesta. But by 2012, Santorum’s blue-collar inroads meant Romney won the nomination with something closer to the Republican equivalent of a wine-track coalition: Of the 20 states that conducted exit polls that year, Romney won voters with at least a four-year college degree in 14, but he carried most non-college voters in just 10.

    Wilson, the GOP pollster, said that an educational divide also started appearing around that time in other GOP primaries for Senate, House and governor’s races more frequently though by no means universally.

    “This wasn’t always the driving demographic or ideological difference in primaries before Trump,” Wilson said. “Sometimes a candidate [who] was particularly strong in sounding populist themes would create this type of gap, but often a more traditional issue difference either on social issues or on issues like tax increase votes or support for Obamacare or something adjacent to it would be a stronger signal in a primary.”

    In 2016, Trump turned this traditional GOP axis on its head. He narrowed the big divisions that had decided the 2008 and 2012 races. He performed nearly as well among voters who identified as very conservative as he did among those who called themselves somewhat conservative or moderate, according to a cumulative analysis of all the 2016 exit polls conducted by ABC’s Gary Langer. Likewise, Trump performed only slightly better among voters who were not evangelicals than those who were, Langer’s analysis found.

    Instead, Trump split the GOP electorate along the wine-track/beer-track divide familiar from Democratic primary contests over the previous generation. According to Langer’s cumulation of the exit polls, Trump won fully 47% of GOP voters without a four-year college degree – an incredible performance in such a crowded field. Trump, in stark contrast, carried only 35% of Republican voters with at least a college-degree across the primaries overall. But the remainder of them dubious of him never settled on a single alternative. Sen. Ted Cruz, who proved Trump’s longest-lasting rival, captured only about one-fourth of the white-collar GOP voters, with the rest splitting primarily among Marco Rubio, John Kasich and Trump himself.

    In October 2015, I wrote that Trump’s emerging strength in the GOP nomination race could be explained in two sentences: “The blue-collar wing of the Republican primary electorate has consolidated around one candidate. The party’s white-collar wing remains fragmented.” That same basic equation held through the primaries and largely explained Trump’s victory. The question now is whether it could happen again.

    There’s no question that some of the same ingredients are present. Recent national polling by the non-partisan Public Religion Research Institute, according to detailed results shared with CNN, shows that Republicans without a college degree are more likely than those with advanced education to agree with such core Trump themes as the belief that discrimination against Whites is now as big a problem as bias against minorities; that society is growing too soft and feminine; and that the growing number of immigrants weakens American society.

    The educational divide is also appearing more regularly in other GOP primaries for offices such as senator or governor, especially in races where one candidate is running on a Trump-style platform, Republican strategists say. It is also reappearing in polls measuring GOP voters’ early preferences for 2024. Recent national polls by Quinnipiac University, Fox News Channel and Republican pollsters including Whit Ayres, Echelon Insights and Wilson have all found Trump still running very strongly among Republicans without a college degree, usually capturing more than two-fifths of them, according to detailed results provided by the pollsters. But those same surveys all show Trump struggling with college-educated Republican voters, usually drawing even less support among them than he did in 2016, often just one-fourth or less.

    Wilson, for instance, said that in his national survey of prospective 2024 GOP voters, Trump’s support falls from about half of those with a high school degree or less, to about one-third of those with some college experience, one-fourth of those with a four-year degree and only one-fifth of those with a graduate education. In a recent national NPR/PBS NewsHour/Marist poll, half of Republicans without a college degree said nominating Trump again would give the party the best chance of winning in 2024; two-thirds of the Republicans with degrees said the party would have a better chance with someone else.

    State polls are showing the same pattern. The latest University of New Hampshire survey showed Trump attracting about two-fifths of GOP voters there without a high school degree, about one-third of those with some college experience, and only one-sixth of those with a four-year or graduate degree. A recent LA Times/University of California (Berkeley) survey in that state produced very similar results. Trump also ran much better among Republicans without a degree than those with one in the latest OH Predictive Insights primary poll in Arizona, according to detailed results provided by the firm.

    Craig Robinson, the former GOP state party political director in Iowa, said he sees the same divergence in his daily interactions. “The people that I hang out with or have breakfast with on Saturday, it’s the more business, more educated guys, and they are like, ‘Hey, we just want to move on [from Trump],’” Robinson told me. “But if I go back home to rural Iowa, they are not like that. They are looking for the fighter; they are looking for the person that they think will stand up for them and that’s Trump by and large.”

    Republicans who believe Trump is more vulnerable than in 2016 largely point to one reason: the possibility that DeSantis could build a broader coalition of support than any of Trump’s rivals did then. In many of these early state and national polls, DeSantis leads Trump among college educated voters. And in the same polls, DeSantis is generally staying closer to Trump among non-college voters than anyone did in 2016. “DeSantis may be able to do some business there,” said Murphy, referring to the GOP’s blue-collar wing.

    When DeSantis spoke on Sunday at the Ronald Reagan presidential library about an hour northwest of Los Angeles, he smoothly displayed his potential to bridge the GOP’s educational divide. For the first part of his speech, he touted Florida’s economic success around small government principles – a message that could connect with white-collar GOP voters drawn to a Reaganite message of lower taxes and less regulation. In the speech’s later sections, DeSantis recounted his clashes with what he called “the woke mind virus” over everything from classroom instruction about race, gender and sexual orientation, to immigration and crime and his collisions with the Walt Disney Co. Those issues, which drew the biggest response from his audience, provide him a powerful calling card with GOP voters, especially those without degrees, drawn to Trump’s confrontational style, but worried he can’t win again.

    “There is a lot of energy in the party right now around these cultural issues,” said GOP consultant Alex Conant, who served as the communications director for Marco Rubio’s 2016 presidential campaign. “If you watch Fox prime time, they are not talking about tax cuts and balancing budgets. They talk about the same cultural issues that DeSantis is putting at the core of his campaign.”

    The risk to DeSantis is that by leaning so hard into cultural confrontation on so many fronts he could create a zero-sum dynamic in the race. That approach could allow him to cut into Trump’s blue-collar base, but ultimately repel some college educated primary voters, who view him as too closely replicating what they don’t like about Trump. (If DeSantis wins the nomination, that same dynamic could hurt him with some suburban voters otherwise drawn to his small government economic message.)

    That could leave room in the top tier of the GOP race for another candidate who offers a sunnier, less polarizing message aimed mostly at white-collar Republicans. “I think there is absolutely room for more than two candidates, especially two candidates who are both competing very hard for the Fox News audience,” Conant said. Almost anyone else who joins the race beyond Trump and DeSantis (assuming he announces later this year) may ultimately conclude that lane represents their best chance to win.

    In many ways, Trump looks more vulnerable than he did in the 2016 primary. But assembling a coalition across the GOP’s wine-track/beer-track divide that’s broad enough to beat him remains something of a Rubik’s Cube, and the countdown is starting for the field that’s assembling against him to solve it.

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  • Miller Lite Went Too Far Comparing Rival Products to Water | Entrepreneur

    Miller Lite Went Too Far Comparing Rival Products to Water | Entrepreneur

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    Despite their rep for running toward the silly and cartoonish, beer ads have rules to follow. The National Advertising Division (NAD) of the Better Business Bureau said Molson Coors broke those rules with a 2022 Miller Lite campaign. According to the agency, the company must pull the ads, which include the slogan, “light beer shouldn’t taste like water; it should taste like beer.”

    As CNN reports, the spot that caused competitor Anheuser Busch to raise objections was just 15 seconds long, featuring a cyclist topping a hill and pausing to take a breather. He then opened a beer that was the same shade of dark blue found on Bud Light cans and poured it over his head. The NAD stated that strongly implying the competition’s brew might as well be water was highlighting “a measurable attribute.” Customers might believe the assertion was “supported by such evidence.”

    The NAD didn’t see the joke and said Molson Coors had to pull the commercial because the company submitted no “evidence supporting the claim that any other light beers ‘taste like water.’”

    Molson Coors disagreed with the NAD’s decision and will appeal. The beer-making giant may have a case, too — after all, CNN notes that the NAD’s decisions aren’t legally binding, though advertisers generally go along with rulings.

    Anheuser-Busch and Molson Coors are the top-selling U.S. beer makers, and the companies have clashed before. In a later dismissed case, Molson Coors sued over a 2019 Super Bowl ad claiming it used corn syrup in its brewing process.

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    Steve Huff

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  • Molson Coors’ funny ad went too far, regulator says | CNN Business

    Molson Coors’ funny ad went too far, regulator says | CNN Business

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    New York
    CNN
     — 

    Beer ads try to be funny, but a regulatory group has determined that Molson Coors went too far with a recent ad that compares rivals’ light beer to water.

    The National Advertising Division, which is part of the Better Business Bureau, sided with Anheuser-Busch, which challenged a 2022 ad for Miller Lite that uses the phrase “light beer shouldn’t taste like water, it should taste like beer.” The agency said that Molson Coors should “discontinue” the ad because is “not puffery or a mere opinion.”

    In the 15-second spot, a cyclist takes a break from riding uphill, cracks open a beer and douses himself with it. No specific beers were mentioned, however the beer uses a similar blue color that adorns Bud Light packaging. NAD said that it “determined that tasting ‘like water’ is a measurable attribute” and that customers might “reasonably expect that the statement is supported by such evidence.”

    NAD said the ad should be discontinued because Molson Coors “did not submit evidence supporting the claim that any other light beers ‘taste like water.’”

    In response, Anheuser-Busch said it “appreciates” NAD’s decision.

    “True stewards of the beer industry should be working together to strengthen the beer category instead of resorting to misleading attacks that denigrate products enjoyed by millions of beer drinkers,” an Anheuser- Busch spokesperson said in a statement.

    Molson Coors is appealing the decision, saying it “vehemently disagrees with this decision because we believe light beer should taste like beer, not water, and we are well within our right to share that belief.” A spokesperson also questioned to Anheuser-Busch’s “sudden concern” with the ad since it hasn’t aired since last August.

    NAD’s decisions aren’t legally binding, however most advertisers comply with their decision. If an advertiser doesn’t comply, the ads are referred to the Federal Trade Commission for further scrutiny.

    This isn’t the first time Molson Coors and Anheuser-Busch, which are the top-selling beer makers in the US, have challenged each other. Molson Coors sued Anheuser-Busch in 2019 over Super Bowl ads that accused the Miller Lite and Coors Light maker for saying its beer was sweetened with rice rather than corn syrup. The case was dismissed.

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  • Bill Gates Buys Millions in Heineken Stock, But He’s Not a Beer Fan | Entrepreneur

    Bill Gates Buys Millions in Heineken Stock, But He’s Not a Beer Fan | Entrepreneur

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    Bill Gates has brewskis on the brain.

    The billionaire acquired close to a billion-dollar stake in Heineken Holding NV, giving him 3.7% of the Dutch company’s shares.

    The filing by the Netherlands’ Financial Markets Authority (AFM) said the Microsoft founder bought 10.8 million shares on February 17, worth about $939.87 million. The transaction happened the same day that Heineken’s major Mexican shareholder, Femsa, sold billions of euros worth of shares.

    According to Bloomberg, Femsa has indicated that it plans on selling all its shares in Heineken within two to three years.

    Related: Bill Gates Shuts Down Conspiracy Theory About Owning Farmland. No ‘Grand Scheme Involved.’

    Not a big beer guy

    Despite the enormous investment in Heineken, Gates had admitted beer isn’t really his thing.

    During an “Ask Me Anything” chat on Reddit a few years ago, he was asked what his favorite beer was.

    “I am not a big beer drinker,” Gates wrote. “When I end up at something like a baseball game, I drink light beer to get with the vibe of all the other beer drinkers. Sorry to disappoint real beer drinkers.”

    Heineken is not the only Dutch company in which Gates has invested money. According to Bloomberg, the wealthy businessman has also invested in online supermarket Picnic, and has an interest of approximately 1.3 percent in fertilizer producer OCI, which is listed on the Amsterdam stock exchange.

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    Jonathan Small

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