Two news items that caught my eye recently and just in case you haven’t seen them here they are. Both were reported in Mark Brown’s newsletter.
Southern Wine alcohol distributor seeks loans of $2 billion
Source: The Associated Press
Not even the alcohol distributors are immune from the national financial crisis.
Southern Wine & Spirits of America Inc. is seeking $2 billion in loans to refinance existing debt. The Miami-based distributor is the largest in the United States.
Bank of America Corp. is arranging a $1 billion revolving credit line and a $1 billion term loan, a source said. Both loans will mature in five years.
Budweiser’s Clydesdales now come clopping at a cost
Source: USA Today
The Budweiser Clydesdales are still available for appearances … at a cost.
The St. Louis Post-Dispatch reported Monday that Anheuser-Busch has quietly begun charging $2,000-per-day for Clydesdale appearances, ending the brewery’s long practice of absorbing nearly all of the cost of showcasing the iconic horses.
The brewery says the fee helps to offset the $8,000-per-day cost of putting a hitch team on the road. Until now, event organizers or beer wholesalers were asked to pay nominal costs for stabling and feed.
It’s tough out there…