August Busch IV Says…..

Nada mucho, as we say in San Antonio. We must acknowledge that execs at public companies must be careful what they say, should it affect their stock price or offend a retailer or consumer group. And as such, ABIV's speech did not reveal anything that 90% of the audience didn't already know, likely by design, since all themes were common to all distributors: TTB/malternative reformulation, state excise taxes, Diageo equalization, sluggish industry numbers, and consolidation. Here are the interesting quotes