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Belgian buyout bristles Bud buyers |
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Written by the Editorial Board
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Thursday, 24 July 2008 |
Last week's announcement that Belgium-based InBev was buying out Anheuser-Busch left some AB connoisseurs with tears in their beers.
The protectionism inherent in such protests against the buyout is silly at best and dangerous at worst.Since the deal was officially announced, Web sites like DrinkAmerican.us and SaveBudweiser.com have gathered individuals opposed to the foreign buyout. Artists like Phil McClary and Jeff Blackwell wrote songs in protest of the deal. “I was actually drinking a Bud Light when I heard, and I couldn't even finish it,” McClary said, according to CNN. “That's the honest-to-God truth.”Right.
The protectionism inherent in these protests is silly at best and dangerous at worst. When such a deal could potentially cost American jobs or endanger national security a protectionist attitude may be understandable. But as it is, InBev has indicated it plans to make no major changes to Anheuser and will not be closing down American breweries. And beer simply is not a national security issue. (Eds: It’s not?)
Instead, it seems a sense of pride, rather than utility, is driving protests against the buyout. For whatever reason, despite the stranglehold some American companies hold on the global market (Microsoft, anyone?) and the times when American companies have done the same thing as InBev (e.g., when Ford bought Jaguar), some feel that it is inappropriate for a “traditional” American brand to be owned by a foreign entity.
This is not the first time an American institution has been bought by a foreign entity, and it won't be the last.We have to expect such changes as today's reality. With increased cultural and economic globalization, the ownership of corporations, real estate and means of production are not simply bound to change hands – they are bound to change continents.
It’s reasonable to be concerned with who owns American ports or which company makes products used by our military, but it is not worth decrying the InBev-Anheuser deal when the status quo will be maintained: no loss in jobs, no factories closing down and no change in the beer many people have enjoyed for decades.
This is not the first time an American institution has been bought by a foreign entity, and it won't be the last. Now quit your whining, and drink your beer. [CNN, ABC, SaveBudweiser.com, DrinkAmerican.us] center> |