Monday, June 30, 2008

The Buschs' Shameful Behavior

Annheuser-Busch's and its CEO, August Busch IV's responses to InBev's offer to buy the firm and reward the American brewer's shareholders more richly than the current management has been able to do, have been disappointing and shameful.

Predictable, but disappointing.

Not only has the Busch family dug in its heels to claim the right to continue to impoverish their shareholders, as I noted in this recent post, but they have recruited various local government officials to aid them in this disgusting enterprise.

I've written more on the sorry Busch saga here and here. Holman Jenkins, Jr., of the Wall Street Journal, wrote an entertaining piece last week lampooning the Busch family's attempt to screw shareholders of the firm the family founded, but sold to the public years ago.

Wouldn't you like to see, just once, a family-founded firm which has gone public do the right thing for shareholders?

Oh, wait. One did. Bill Wrigley!

I suppose it's way too much to hope that August Busch IV would ever take inspiration from Wrigley and do the right thing for his shareholders, isn't it?

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