Miller Unhedged

Miller posted a tough third quarter, no doubt about that. Miller Lite is in free fall, and their below-premium brands are losing share to Keystone Light and the Busch/Natty franchises. Plus, their hedge on aluminum has run out, which will drive product costs up. But what does the brass back in London say about it? SABMiller chairman Graham Mackay says:"We've reached a point of pretty profound consumer discontinuity, imports are continuing to grow, craft beers are back on the boil