I’m sure the nativist and xenophobes are quite upset at the loss of American icon Anheuser-Busch to InBev, but fail to notice the contribution of Conservative monetary and fiscal policy - the Belgians were able to purchase AB for 52 billion EUR. Based on current exchange rates and the weakened dollar, the 52 billion EUR equates to purchasing power equivalent to $82 billion USD. That’s the equivalent of a 37% discount. After accounting for the share premium paid to AB (22%), that is still a currency advantage of 15%.
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It goes without saying that given the stream of news through this weekend through Monday (Fannie Mae, Fannie Mac, IndyMac, and National City), the most popular post on Akkam’s Razor is this one, detailing my findings in search for the FDIC’s bad bank list.
bankrun, banks, business, CAMELS, economics, Election 2008, fannie mac, fannie mae, FDIC, finance, government, indymac, moral hazard, national city, news, politics, UBPR
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A couple of semesters ago, I read a Businessweek article on Home Depot then-CEO Bob Nardelli’s plan to turn around Home Depot. BW glowingly reported on Nardelli’s personnel changes and differing style, with his strong preference for hiring former-military persons in key rolls. Anecdotally speaking, a masters program classmate who was also a Naval Academy graduate mentioned that Home Depot had indeed made a push for hiring employees who were formerly Officer Grade to run their stores, casting the opportunity as entrepreneurial. Businessweek gave several hints as to what was coming in their description of Nardelli’s style:
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