Industry Gut Check

Dear Client: Thought we’d take a beat to synthesize all the information from the last month (from the last many months, for that matter). From NBWA in Vegas, to our own seminar at NextGen, to recent dismal shipment numbers, and finally, the BMI show in New York earlier this week, the theme is clear: Beer seems to be in trouble. Goldman Sachs' Bonnie Herzog noted that she's coming away from the BMI show “slightly more cautious on the beer industry