McCains To Profit From Anheuser-Busch Sale

Cindy McCain, wife of Republican presidential candidate John McCain, is set to get a huge payout from the sale of Anheuser-Busch Cos., brewer of Budweiser and hundreds of other brands, to Belgian beverage giant InBev NV.

McCain, the heiress to the third-largest Anheuser distributor, owns at a minimum $1 million in the American company, according to John McCain's Senate financial disclosure forms, which don't offer any more information for large assets held by his spouse. Under the deal, she and other stockholders will get a cash payout for the stock, which is owned through her company, Hensley and Co.

Anheuser's stock price opened at $67.55 today, almost a 50% gain over the near $47 price in February when the possibility of a deal was made public. Cashing out could leave the McCains with hefty capital gains, which would be taxed at a rate of 15% under the Bush tax cuts that John McCain opposed and now supports. (Barack Obama has proposed raising the capital gains tax.)

Read the whole story here.

Comments

[robbor]

the good is that anyone who owns the stock is going to make a quick, tidy profit. that's how capitalism works.

the sad is that this sale of an american institution was exasperated by an increasingly week dollar, a dollar that is losing its value**.

in the months ahead look for more bargain basement sales of other once significant corporations.

** the belgians paid $52 billion for name only. anheuser busch beer is undrinkable so it wasn't the recipe they were interested in.

[samandally]

If they own stock of course they will make money and so will all the other stockholders.

[ggmome]

Does Cindy McCain accompany John McCain on every trip? What is the purpose of that?

[dora rice]

I wish Cindy would cover up more. She looks like an old play boy bunny next to old, ancient McCaine. She also looks like she is trying to show of her old ware. Is it so hard to wear a nice body fitting dress? But whatever. She is making this guy looking even older that his years. If that's possible. These people just have no taste anymore.

[robbor]

yeah, and tame that parched mane of prairie grass hair. it's summer, the season of out of control fires. cut it short.

[dora rice]

Instead of them two looking like presidential people, they look like a bunch of senior tourists going to the islands.

[rollingdivision]

Nothing is wrong with profits.

[FatherWolf]

Great source of tax revenue!

[MajorKong]

Sure glad they're not rich elitists like them there Obamas.

[thinklib]

Good for the McCains. Or Obama's. Or anyone else (except insider traders) who can make money in the stock market. That's why it's there.

I wouldn't want a president who made bad investments or no investments at all.

[Egalitare]

Okay...can they pay all their property taxes now?

[pupbayer]

They have.

[SmootyBooty]

Blue collar jobs may be saved, but the good paying white collar jobs at AB are GONE...

[BabsfromKS]

Hmm... too bad beer isn't a controlled substance - just think of that tax liability on top of capital gains!

[Grannysue]

Oh goody more dough for Cindy and the kids to blow! McCain would spend too but cannot remember where the stores are!

[LAB11]

Oh, wow! Now Mr. and Mrs. RNC can buy the old man a new brain, whiten his teeth and get his shoulder replacements.

[SmootyBooty]

lol

[fishsandwichesr2good]

Maybe they'll loan some cash to BO so he can take care of his stuttering problem.

[Nyland8]

That's it then. It's over. There are no more American owned mega-breweries anymore. Coors belongs to a Canadian conglomerate. Miller belongs to a South African conglomerate. Now Bud has gone the way of the dodo.

For this, and for other reasons related to taste and quality, I recommend that people stop buying the run-of-the-mill beers and ales and start buying the products of your local breweries. Small craft brews are better, fresher, and the profits don't go to multinational mega-conglomerates.

Learn what real beer is. It doesn't contain headache generating fillers like rice (A-B & Miller) or corn (Coors). It doesn't rely on staggeringly massive advertising budgets - which you pay for. It doesn't cynically talk down to its own consumers by appealing to the lowest common denominator in its ad campaigns. Its just better for you on every level.

Support your local micro-brewery.

8

[KBAR]

Based upon Bavarian custom, an official law was
first enacted in 1516 then modified in March 1952
(Bundesgesetzblatt, or federal law) and September 1980
(Zollaenderunggesetz, or Customs Law Amendment). It originally
exclusively allowed the sale of beer with three ingredients
(water, hops, and barley) but was later revised to allow yeast.

The fresher the better. Chilled to 38 to 42 degrees. 1/4 inch head. NEVER drink directly fron the bottle/can.

[WIpatriot]

Sprecher brewery right here in WI....good stuff, Maynard.

[Imzadi]

Leinnie's is still WI-owned isn't it?

[truthynesslover]

I love my sam adams!

[trollsbwild]

Bud beer was crap.

Coors tastes much better.

I'm happy Cindy and John will come into some money. It must be tough paying ownership costs of seven homes. No to mention jet fuel costs for that private jet. Can't you relate?

[MajorKong]

Coors is like making love in a rowboat. They're both f*king close to water.

[loax]

More money for your private plane, Cindy? Or more money to pay for the jet fule in the Corrked talk Express plane ole Johnny boy uses.

[Bluejay00234]

Maybe seven more houses?

[KBAR]

Class envy?

[abouttime]

Does that mean Belgium is a US corporation? or perhaps there is no such thing as buy american products.
I always felt Globalization was inevitable, but worried it would be a dictatorship of corporate conglomerates at the Controls and not even governments or even democratic ones at that.
OF COURSE CAPITAL GAINS TAXES SHOULD BE COLLECTED FROM INVESTORS WHO DO NOTHING TO EARN IT - NO WORK, NO SWEAT, NO ALLEGIANCE TO ANYONE BUT THERE OWN GREED AND OPPULANCE.
I intend to become self reliant on enery, food and work my butt off for me and my families survival.
Success is peace of mind and happiness does not come out of a bottle (or money).

[DallasMike]

Who gives a rats @ss how much they make off the sale.
They do not own the company and if you had a couple of hundred shares of AB would you be upset?
Comon people stop interjecting personal hatred for anyone you don't agree with.

[kmac23va]

Because it shows the McCains aren't "one of us" when they make a ton and pay little taxes (only 15%) on it. A lot of us pay 25-30% for federal income tax. I'd love to be able to make more and only pay 15% tax on it!

There should be a renewed demand for Cindy McCain's tax returns to be released, especially in light of her using her corporate jet for campaign purposes. There's some fishy ethics going on here, if in perception if not in fact.

[vshdst]

Agree totally!

[KBAR]

lot of us pay 25-30% for federal income tax. I'd love to be able to make more and only pay 15% tax on it!

Easy. Make an investment wait for it to go UP then SELL! That's the risk/reward principal at work.

P.S. You are not 'ENTITLED' to have any investment go UP!

[pupbayer]

I really hate to tell you but none of the candidates is "one of us."

[VSamuels]

It is important because the Obamas are given the elitist tag, when it is the McCain's who are super rich but enjoy the guise of being the ones who represent the everyday man or woman. And besides when folks are losing the 1 home they own, the McCains have 7 homes; it is simply a matter of perspective and having our reality filtered through a corporate media which pulled another fast one over on the American people and are selling it as the gospel.

Its not a matter of being upset or not, its a matter of watching the republicans sell another rich out-of-touch family as the ones who understand the pain of the people, and this is certainly well worth the effort to get mad at and reject the notions that they understand the troubles of the common every man or woman.

[fishsandwichesr2good]

Yes, the Obamas are much more in touch with the common man and all their problems paying for dance class and piano lessons...

[SmootyBooty]

Idiot much?

[mindlessmissy]

Mmmnnn ... No wonder they wanted to reduce the taxes of the wealthy ... Busched ???

[fishsandwichesr2good]

FYI, those wealthy folks, i.e., the top 1% pay 50% of federal taxes. The top 50% pay 97%. Sounds to me like those po' folk are getting a nice ride.

[MajorKong]

You mean those "lucky duckies" making less than $12,000 a year, as the Wall Street Journal once referred to them? If it's such a nice ride maybe you should try it out.