‘GOOD NEWS’ INDEED: Is the Beer Half Full or Half Empty? It All Depends

A recent Market Place column in The New York Times provided further evidence that Wall Street and Madison Avenue see the world in different ways. After discussing some disappointing earnings reports from major brewers, the article talked of prospects for a turnaround: ‘Of course, if Anheuser and Coors could find a way to reduce their phenomenal spending on advertising and promotion, that would be good news.’ Right, just terrific. ‘But it’s hardly likely. ‘If anything, there’s a pressure to increase marketing, to get incremental volume,’ said Joseph L. Doyle, an analyst with Smith Barney Shearson. ‘It’s a good time to stay away from the beer market.’ ‘ Duly noted.
Copyright Adweek L.P. (1993)