There are few brands more American than Anheuser-Busch, brewers of Budweiser, the self-proclaimed "king of beers." Add the Clydesdales, the "St. Louis, Missouri" tag at the end of their ads and their ubiquitous sports sponsorships, and you have a brand that is rivaled maybe only by Chevrolet as an "American" brand.
And so it is with more than a little sadness that the business world is marking the acquisition of Anheuser-Busch by InBev, the Belgian brewer owned by a South American group. Blame the weak dollar, inflated expenses and A-B's stodgy stock performance. Yeah, InBev says St. Louis will still be the North American headquarters for the new brand, which will be called Anheuser-Busch InBev, and that they will not diminish the sponsorships and marketing A-B has traditionally embraced.
But we all know it won't be the same. And if it is, it won't last long.
This comes on the heels of other reports that say General Motors is considering shuttling some of its classic brands, as well. They have publicly acknowledged that Hummer is on the block and Pontiac and Buick also seem in perilous positions. And who are the most likely buyers? As with legendary British brands Land Rover and Jaguar, Indian and Chinese companies are the top contenders.
Oh, and speaking of American car companies, Abu Dhabi investors just bought the historic Chrysler Building in New York City.
Globalization is great and brings many benefits to the U.S. economy. And the U.S. has gone through periods of foreign investors snatching up American icons before (Sony buying Paramount Pictures, for example). But this time around feels a little different and the U.S. needs to ensure that we are getting something out of the global economy besides larger credit limits.
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