“I Lost 80 Million Cases”

Dear Client:Let me set the scene. Your editor was asked to speak about the beer industry at IRI's CPG Summit, which happened to be held in my hometown of San Antonio. I gave my speech, which consisted of a bunch of stuff that you've read in these pages a hundred times. One of the things I said was this industry attracts investment bankers because of the steady cash flow. As an example, I pointed out that our largest brewer, Anheuser-Busch,