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Speaker 1: Anheuser Busch has announced that apparently the chick that did

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Speaker 1: the Mulveney campaign they're head of like marketing, she's no

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Speaker 1: longer a quote with the company. Yeah, you think, and

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Speaker 1: Anheuser Bush decided they were going to do some damage

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Speaker 1: control by getting back on Twitter. That just backfired in

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Speaker 1: their face because everybody was taunting them and messing with them.

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Speaker 2: Right.

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Speaker 1: Also, they also had a tweet they deleted that said

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Speaker 1: go woke exclamation point from a little while back. They've

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Speaker 1: deleted that tweet now because people were mocking them with

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Speaker 1: that old tweet as well, which is even funnier.

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Speaker 2: And then you had the Anheuser Bush CEO.

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Speaker 1: Now, this was stupid for him to take this long

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Speaker 1: to do this interview, but he decided to do it,

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Speaker 1: and it was a bad interview by the way.

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Speaker 2: He went on CBS Mornings.

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Speaker 1: It was the safest place round to go because Gail

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Speaker 1: King and they're not going to ask any tough questions. Okay,

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Speaker 1: they did ask him this question about Dylan mulvaney. Now

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Speaker 1: to be clear, So you know, Dylan Mlvani's the dude

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Speaker 1: that has a penis the dresses like a chick that

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Speaker 1: Anheuser Busch put on a can. Okay, so understand that

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Speaker 1: I want you to hear Anheuser Busch's CEO, younger guy

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Speaker 1: Brennan Whitworth, and here's what he had to say about

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Speaker 1: basically having no regrets about the decision literally to destroy

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Speaker 1: bud Light, and suggests is that he would even do

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Speaker 1: it again, which is a reason why I said from

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Speaker 1: the beginning. Unless they decide to come out and say

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Speaker 1: we screwed up and we're so sorry, and we alienated

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Speaker 1: our customers and we're never going to do it again,

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Speaker 1: then don't believe any of their pr marketing with their

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Speaker 1: Harley Davison campaign or their Fourth of July campaign or

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Speaker 1: whatever the crap they try to do next, because they

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Speaker 1: don't actually believe it. And that is exactly what happened

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Speaker 1: today with a CEO.

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Speaker 3: Listen, given the moment we're in, this moment in America

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Speaker 3: with trans issues at the top of a republican social

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Speaker 3: or conservative political agenda. Knowing what you know now, if

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Speaker 3: you could go back, would you send this can to

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Speaker 3: this one person again?

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Speaker 4: There's a big social conversation taking place right now, and

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Speaker 4: big brands are right in the middle of it. And

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Speaker 4: it's not just our industry or bud Light. It's happening

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Speaker 4: in retail, it's happening in fast food, and so for us,

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Speaker 4: what we need to understand is deeply understand and appreciate

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Speaker 4: is the consumer and what they want, what they care about,

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Speaker 4: and what they expect from big brands.

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Speaker 3: This this is part of why you're getting it from all

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Speaker 3: sides because I asked you, would you do it again?

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Speaker 3: And people on the trans right side of things supporting

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Speaker 3: that community want you to say yes. Of course, we

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Speaker 3: want that fortitude, and people on the right would criticize

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Speaker 3: you for saying yes.

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Speaker 5: So where are you on the issue? I mean, was

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Speaker 5: this a mistake?

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Speaker 4: You know, bud Light has supported LGBTQ since nineteen ninety eight,

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Speaker 4: so that's twenty five years. And as we've said from

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Speaker 4: the beginning, we'll continue to support the communities and organizations

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Speaker 4: that we've supported for decades. But as we move forward,

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Speaker 4: you know, we want to focus on what we do best,

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Speaker 4: which is brewing great beer for everyone, listening to our consumers,

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Speaker 4: being humble and listening to them, making sure that we

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Speaker 4: do right by our employees, take care and support our partners,

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Speaker 4: and ultimately make an impact in the communities that we serve.

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Speaker 2: All right, So to be clear, I guess he's saying

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Speaker 2: they do it again. Right.

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Speaker 1: He has no regret about the decision to destroy bud Light,

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Speaker 1: He has no regrets about basically working with Mulvaney. He

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Speaker 1: makes it clear that they're still standing by what they

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Speaker 1: believed in the day that they did the deal with Mulvaney.

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Speaker 1: A dude with a penis, dress like a chick, and

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Speaker 1: they're still a cutting edge company that he's going to

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Speaker 1: run into the ground. What's even funnier than that is

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Speaker 1: the fact that the CBS News actually asked him another question.

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Speaker 1: And a lot of people don't know this. Brendan Whitworth

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Speaker 1: was actually a CIA employee at one point in his

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Speaker 1: career before he went to bud Light and collapse bud Light,

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Speaker 1: and I want you to hear how they asked him

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Speaker 1: about that. It's hysterical.

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Speaker 6: We should point out that you're a former United States

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Speaker 6: Marine and you were all so at the Central Intelligence Agency,

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Speaker 6: the CIA. Correct, So you know a little bit about stress.

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Speaker 6: I just lit tiny bit. How did you go from

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Speaker 6: the CIA to anhyser Bush?

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Speaker 4: You know, I thought the highest calling that anybody can

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Speaker 4: have is serving the country, but for you know, personal reasons,

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Speaker 4: made the decision, after eight years in service of the

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Speaker 4: country to move into business. I worked for PepsiCo for

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Speaker 4: a number of years, and I came here ten years ago,

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Speaker 4: and I've been in this position for two years.

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Speaker 7: You still like this job. I love this job and.

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Speaker 4: I love the company, and it really is, as I mentioned,

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Speaker 4: an American institution, and it's really to me one degree

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Speaker 4: of separation away from the United States, the American flag.

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Speaker 4: And so even though I'm not serving the country anymore,

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Speaker 4: I still feel like I have an opportunity to support

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Speaker 4: the country. And that's exactly what Anheuser Busch gives us

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Speaker 4: the opportunity to do.

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Speaker 7: And you're feeling you'll get through this absolutely.

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Speaker 2: Yeah.

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Speaker 1: So in other words, the American flag, we'll talk about,

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Speaker 1: and we're happy to bring up his service to a

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Speaker 1: mayor when it's convenient. I found that aspect of this

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Speaker 1: a little bit condescending to the audience, Like I found

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Speaker 1: what he just said there just a little bit like

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Speaker 1: in your face, like are you kidding me? Like you're

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Speaker 1: now gonna go from Dylan mulvaney to let's talk about

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Speaker 1: your service to America and you're one step away from

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Speaker 1: from serving your country while being at Anheuser Bush. No,

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Speaker 1: you're not, like I have no problem with people that

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Speaker 1: make money. I love capitalism, I love working hard and

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Speaker 1: making money. I don't mind whatever this guy's making. But

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Speaker 1: don't sit there and then use your service to America

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Speaker 1: to cover your a dobls for a terrible business decision,

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Speaker 1: which was to change your brand and alienate the redneck

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Speaker 1: south right, the frattie I'm using their words, the fratty

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Speaker 1: image of bud Light by giving a customized bud like

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Speaker 1: can and the wake of women member. This wasn't even

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Speaker 1: Gay Pride when they did this. This was for women's

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Speaker 1: mart like for Women's Month, whatever the hell they call well,

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Speaker 1: Vanny was saying when they did the can like, this is.

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Speaker 2: For Women's Empowerment Month or whatever.

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Speaker 1: So they're now also telling you that they believe a

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Speaker 1: dude with a chick is a woman. He was also

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Speaker 1: asked how they're handling the massive dropping sales and people

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Speaker 1: shooting bud like cans with guns, right, because the Friday

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Speaker 1: people are doing that. Yes, we are, by the way,

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Speaker 1: and it's really fun listen.

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Speaker 4: And I think the fact remains that millions and millions

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Speaker 4: of consumers enjoy bud Light each and every day, and

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Speaker 4: they do it.

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Speaker 7: I'm mad, though, Brendan, because the sales have dropped. How

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Speaker 7: are you handling that?

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Speaker 8: I mean to Ceo, I just I want to know

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Speaker 8: what this was been like for you when you've had

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Speaker 8: so much vitriol on all sides.

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Speaker 7: Your sales are dropping.

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Speaker 8: People, you know, we have people firing guns at bud

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Speaker 8: like cans. I mean, it's just gotten really off the

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Speaker 8: chain crazy.

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Speaker 1: Yeah, so how have you how are you grabbed by

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Speaker 1: the way, Just so Gael King knows, and I just

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Speaker 1: think it's important that I tell her this.

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Speaker 2: It is not off the chain to shoot bud like can.

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Speaker 2: When you go.

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Speaker 1: Shooting, especially when your outdoor, you're shooting at something. And

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Speaker 1: a lot of times, I mean when I was growing up,

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Speaker 1: we would shoot because we go to Walmart. We buy

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Speaker 1: case of Barbasol Kansas Shootout because they were so cheap,

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Speaker 1: that's the shaving cream.

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Speaker 2: They would explode. It was awesome.

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Speaker 1: Then I remember buying Big K three liter bottles at

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Speaker 1: Kroger and Big K twelve packs or twenty four packs

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Speaker 1: and shaking them up and then shooting them like.

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Speaker 2: Skeat because it was so cheap.

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Speaker 1: This idea that it's off the chains, that people are

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Speaker 1: shooting by light is again shows you there the disdain, okay,

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Speaker 1: and the lack of understanding of the Freddy South as

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Speaker 1: they would condescendingly talk about us. They don't understand Middle

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Speaker 1: America and they don't want to.

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Speaker 2: They just want to look down on it. And I

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Speaker 2: want you.

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Speaker 1: To hear this c of Anheuser Busch saying this, and

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Speaker 1: watch how quickly he says it, okay, about the massive

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Speaker 1: sales drops and the people shooting the bud like cans.

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Speaker 7: Appling with that handling that.

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Speaker 4: I think it's the impact, honestly on the employees that

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Speaker 4: weighs most on me. But again, as I mentioned, seeing

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Speaker 4: the pride in the commitment that they have working on

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Speaker 4: behalf of a one hundred and sixty five plus year

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Speaker 4: old American institution is what gives us energy as we

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Speaker 4: as we look to move forward and focus on what

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Speaker 4: we do best.

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Speaker 1: So you're supposed to feel sorry, frannheuser Busch for doing this,

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Speaker 1: even though they haven't said they're sorry to you, even

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Speaker 1: though they haven't said they alienated to you and they

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Speaker 1: screwed up even as they're given an opportunity to say, yeah,

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Speaker 1: we wouldn't do this again. It was just a bad decision,

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Speaker 1: a bad choice by these marketing people who are no

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Speaker 1: longer with the company.

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Speaker 2: No, no, no, that's not it.

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Speaker 1: Now. If you want to know who's the blame, CBS

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Speaker 1: News was helping out Anheuser Busch. They believe that this

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Speaker 1: CEO is a hero because he stays aid with it

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Speaker 1: and stuck with it and isn't flinching and is still

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Speaker 1: there at Anheuser Busch and hasn't quit gone home and cried.

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Speaker 2: So he's somehow the hero in all this.

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Speaker 1: And then, if you want to know who they blame,

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Speaker 1: it's Republicans, it's conservatives.

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Speaker 2: Listen, many people.

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Speaker 8: In your positions, mister Wentworth would be running for the

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Speaker 8: hills at this point, because since April you all have

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Speaker 8: faced a lot of incoming How and why did it

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Speaker 8: go so off the rails, because that certainly wasn't your

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Speaker 8: intention when you did. One can to one person.

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Speaker 4: It's been a challenging few weeks, and I think the

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Speaker 4: conversation surrounding bud Light has moved away from beer and

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Speaker 4: the conversation has become divisive and bud Light.

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Speaker 1: Really But by the way, who did that? Who moved

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Speaker 1: it away from beer?

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Speaker 2: Right?

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Speaker 1: Anyone want to talk about that? Who moved the conversation

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Speaker 1: away from beer?

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Speaker 2: Right?

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Speaker 1: This has really moved away from beer as he described it, Well,

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Speaker 1: they did. They're the ones that moved away with this

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Speaker 1: woe agenda, trying to get you to believe, okay, that

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Speaker 1: somehow you should want to drink beer with a dude

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Speaker 1: with a penis dressed like a chick put telling you

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Speaker 1: that you are this dude with a penis is a

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Speaker 1: woman when we all know it's not a woman.

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Speaker 2: And if you don't.

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Speaker 1: Believe it, then you're some sort of bigot, a racist,

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Speaker 1: or homophobe or a phobe, whatever you want to call it. Right,

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Speaker 1: the LGBTQ community will activist community will come after you.

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Speaker 2: So bud Light is now mad.

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Speaker 1: That they decide to have a conversation that had nothing

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Speaker 1: to do Okay, it had nothing to do let me

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Speaker 1: say it again, it had nothing to do.

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Speaker 2: With beer.

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Speaker 1: And now they're saying it's sad and unfortunate that we're

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Speaker 1: having this conversation that deals with beer or outside of beer.

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Speaker 1: You the ones that decided to do this, sir, nobody

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Speaker 1: else put a gun to your head and said, hire

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Speaker 1: a dude and promote a dude with a penis who

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Speaker 1: acts like a woman during Women's Month.

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Speaker 5: Doesn't belong there.

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Speaker 4: Bud Light should be all about bringing people together, and

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Speaker 4: there's an impact on the business and I think that's

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Speaker 4: publicly covered on bud Light specifically.

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Speaker 8: Yeah, so what was your intention take us to what

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Speaker 8: was your intention? What were you all trying to do here?

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Speaker 8: And you've done this before, these promotional campaigns.

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Speaker 4: Yeah, it was just to be clear, it was it

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Speaker 4: was a gift and it was and it was one can.

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Speaker 4: But for us, you know, as we as we look

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Speaker 4: to kind of the future and we looked to moving forward,

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Speaker 4: we have to understand the impact that's had and like

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Speaker 4: I said, you know, uh that that impact has has

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Speaker 4: taken place.

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Speaker 1: But by the way, the idea of these is it

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Speaker 1: was a gift and it was one can. It was

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Speaker 1: not a gift in one can. It was pushing an ideology.

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Speaker 1: It was demanding that America bow and change its core

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Speaker 1: beliefs to believe that a woman is the same as

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Speaker 1: a man with a penis if he just wants to

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Speaker 1: dress up like a woman. They did this themselves after

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Speaker 1: this interview, I feel even better about what's happened to

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Speaker 1: the company. I hate it for the distributors, I hate

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Speaker 1: it for the be that work there, but this CEO, Like,

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Speaker 1: if the distributors are smart, they would be demanding a

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Speaker 1: new CEO after watching this interview. It didn't make anything better.

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Speaker 1: It made things worse. And if you're a shareholder, by

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Speaker 1: the way of Anheuser Busch, you should be enraged by

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Speaker 1: what they're doing with your money and your harder investments.

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Speaker 2: Right now.

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Speaker 1: By the way, Budweiser now is down one and one

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Speaker 1: point one point one percent since this interview took place,

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Speaker 1: So it's costing them real money. It's costing them. We're

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Speaker 1: talking about one hundred and eleven billion dollars. Is where

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Speaker 1: we have the evaluation right now of trade of shares

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Speaker 1: number four goldr a Well. If you want to know

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Speaker 1: how to screw up a apology, look no further than

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Speaker 1: the Anheuser Busch CEO. The Anheuser Bush Co went on

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Speaker 1: TV to do a big interview to try to get

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Speaker 1: Anheuser Busch back on track.

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Speaker 2: Uh huh.

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Speaker 1: It was about as big of a disaster as putting

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Speaker 1: ade with a penis on a bud like can dressed

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Speaker 1: like a chick for Women's Month.

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Speaker 2: Right, Yeah, it didn't go well.

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Speaker 1: Anheuser Busco was supposed to go out there and help

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Speaker 1: rehab the company. He did the exact opposite of that.

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Speaker 1: Anheuser Bush CEO won't say whether the partnership with Dylan

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Speaker 1: mulvaney was a mistake. Bud Light, he went on to

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Speaker 1: clearly say it supported LGBTQ since nineteen ninety eight. He

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Speaker 1: did the interview and I'll let you listen to it

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Speaker 1: and you decide if you want to start drinking bud

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Speaker 1: Light again.

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Speaker 3: Given the moment we're in, this moment in America with

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Speaker 3: trans issues at the top of a Republican, social or

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Speaker 3: conservative a political agenda. Knowing what you know now, if

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Speaker 3: you could go back, would you send this can to

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Speaker 3: this one person.

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Speaker 4: Again, there's a big social conversation taking place right now,

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Speaker 4: and big brands are right in the middle of it.

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Speaker 4: And it's not just our industry or bud Light. It's

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Speaker 4: happening in retail, it's happening in fast food, and so

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Speaker 4: for us, what we need to understand is deeply understand

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Speaker 4: and appreciate as the consumer and what they want, what

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Speaker 4: they care about, and what they expect from big brands.

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Speaker 3: This is part of why you're getting it from all

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Speaker 3: sides because I asked you, would you do it again?

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Speaker 3: And people on the trans right side of things supporting

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Speaker 3: that community want you to say yes. Of course, we

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Speaker 3: want that fortitude, and people on the right would criticize

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Speaker 3: you for saying yes.

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Speaker 5: So where are you on the issue? I mean, was

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Speaker 5: this a mistake?

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Speaker 4: You know, bud Light has supported LGBTQ since nineteen ninety eight,

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Speaker 4: so that's twenty five years, and as we've said from

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Speaker 4: the beginning, we'll continue to support the communities and organizations

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Speaker 4: that we've supported for decades.

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Speaker 1: To be clear, he was just given the opportunity to say, hey,

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Speaker 1: clearly we misread the moment. Clearly we overstepped here. Clearly

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Speaker 1: are drinkers. We shouldn't have gotten so political. That was

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Speaker 1: wrong of us to get so political. We should have

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Speaker 1: just been a beer coming that sells crappy beer, right,

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Speaker 1: and we just bring people together to get hammered.

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Speaker 2: Right. We're Freddy, We're everything.

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Speaker 1: And the people that did this are no longer at

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Speaker 1: the company because this is not a place or a

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Speaker 1: space that we should be involved in, Like we should

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Speaker 1: be nonpartisan.

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Speaker 2: We just sell beer.

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Speaker 1: Should have stuck to that, and this was a big

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Speaker 1: misstep for Anheuser Busch.

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Speaker 2: That's what he should have said.

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Speaker 1: It was actually a really easy setup there, Like it

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Speaker 1: was so freaking easy, Like this was not hard. This

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Speaker 1: was maybe the easiest response he could have ever had, right,

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Speaker 1: like just hey, this is like, this is not hard.

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Speaker 1: And he could have said, you know, we clearly alienated

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Speaker 1: a large part of our customer base.

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Speaker 2: That was a big mistake. We should not have done this.

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Speaker 1: The people that get it, by the way, he should say,

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Speaker 1: are no longer there. Right. That's something else that he

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Speaker 1: could have said, These are pretty simple things, isn't This

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Speaker 1: isn't like a trick here, a Jedi mind trick. He

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Speaker 1: could have just said it that way. And it would

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Speaker 1: have been just fine. That's all you had to say.

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Speaker 1: In fact, like you didn't have to say anything else.

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Speaker 1: You could have just said that, but he chose not to.

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Speaker 1: In fact, he doubled down. He didn't say they regretted it,

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Speaker 1: and he didn't say they wouldn't do it again. And

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Speaker 1: then he went back to remind you that we are

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Speaker 1: huge supporters of the activist LGBTQ.

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Speaker 2: Community and have been for you know, over a decade.

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Speaker 2: And that's fine.

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Speaker 1: I've always said this, when people tell you who they are,

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Speaker 1: believe them, Okay, like just just flat out believe them.

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Speaker 1: Believe what they're telling you when they tell you. And

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Speaker 1: I'm going to back this up, you know, fifteen seconds

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00:18:21,880 --> 00:18:26,040
Speaker 1: here to this moment, and I want you to hear

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Speaker 1: it again. They're telling you this is the decision they

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Speaker 1: don't regret, so believe them.

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Speaker 4: What they expect from big brands.

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Speaker 3: Since is part of why you're getting it from all

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Speaker 3: sides because I asked you would you do it again?

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Speaker 3: And people on the trans right side of things, supporting

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Speaker 3: that community want you to say yes. Of course, we

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Speaker 3: want that fortitude, and people on the right would criticize

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Speaker 3: you for saying yes.

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Speaker 5: So where are you on the issue? I mean, was

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Speaker 5: this a mistake?

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Speaker 4: You know, bud Light has supported LGBTQ since nineteen ninety.

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Speaker 7: Eight, so that's twenty five years.

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Speaker 4: And as we've said from the beginning, we'll continue to

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Speaker 4: support the communities and organizations that we've supported for decades.

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Speaker 4: But as we move forward, you know, we want to

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Speaker 4: focus on what we do best, which is brewing great

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Speaker 4: beer for everyone, listening to our consumers, being humble and

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Speaker 4: listening to them, making sure that we do right by

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Speaker 4: our employees, take care and support our partners, and ultimately

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Speaker 4: make an impact in the communities that we serve.

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Speaker 1: So, no, we don't regret it. No we don't believe

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Speaker 1: it's a mistake. No, we're not going to say we

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Speaker 1: made a mistake. We're not going to humble ourselves and say, hey,

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Speaker 1: we really screwed this up and we really didn't understand

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Speaker 1: who our customers were or we took our customers for Granted,

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Speaker 1: you could have said it that way too, like, hey,

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Speaker 1: we were stupid and had somebody that's no longer at

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Speaker 1: the company that made a horrific decision that we should

401
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Speaker 1: have never been involved in. This is not what we

402
00:19:50,520 --> 00:19:52,720
Speaker 1: should be doing as a company. We should be selling

403
00:19:52,760 --> 00:19:55,080
Speaker 1: great beer, bringing people together, period. We should let other

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00:19:55,119 --> 00:19:57,720
Speaker 1: people decide on these on these issues. That is the

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Speaker 1: exact opposite of what they said. So I go back

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Speaker 1: to what I said, believe them when they tell you

407
00:20:01,880 --> 00:20:04,240
Speaker 1: who they are at bud Light. If you want to

408
00:20:04,240 --> 00:20:05,800
Speaker 1: know why I'm not going to drink bud Light, this

409
00:20:05,880 --> 00:20:09,160
Speaker 1: is exactly why I believe them. I'm listening to them.

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00:20:09,520 --> 00:20:12,840
Speaker 1: They're telling you they didn't make a mistake. They're telling

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Speaker 1: you that this was a good decision. They're telling you

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00:20:15,600 --> 00:20:17,560
Speaker 1: that they might have done it again, or might do

413
00:20:17,640 --> 00:20:20,359
Speaker 1: it again. Maybe it's just a timing that was bad,

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00:20:20,480 --> 00:20:22,240
Speaker 1: but they don't. It doesn't mean that the belief for

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00:20:22,359 --> 00:20:25,240
Speaker 1: what they were trying to do is bad. I believe

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00:20:25,240 --> 00:20:27,800
Speaker 1: they'll probably do this again based on what he just said, Like,

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Speaker 1: I'm going to believe him that they believe.

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Speaker 2: That this is something that they should have done.

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Speaker 1: They believe, like God, we've been doing this for twenty

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Speaker 1: five years, right, We've been doing this for twenty five years.

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00:20:41,359 --> 00:20:46,159
Speaker 1: We're not backing down. Okay, I actually do believe you.

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00:20:47,160 --> 00:20:50,280
Speaker 1: I think you're telling me the truth, right. I think

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Speaker 1: that not only are you telling me the truth. But

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Speaker 1: I'm going to one hundred percent stand here and not

425
00:20:55,200 --> 00:21:00,639
Speaker 1: think that you're you're this is who bud Light is. Okay,

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00:21:00,720 --> 00:21:05,640
Speaker 1: this is who bud Light is. Believe them when they

427
00:21:05,680 --> 00:21:09,600
Speaker 1: tell you this is who they are. Dylan mulvaney cuts

428
00:21:09,640 --> 00:21:12,359
Speaker 1: them bud like Cannon said, he would do it again.

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00:21:12,680 --> 00:21:15,879
Speaker 1: He'd anced around every question and will not apologize. And

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Speaker 1: if you want to know why the boycott is permanent,

431
00:21:17,960 --> 00:21:20,880
Speaker 1: in my mind, this is exactly why. You have a

432
00:21:20,920 --> 00:21:23,320
Speaker 1: former Marine, a former member of the CIA, who entered

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00:21:23,359 --> 00:21:25,240
Speaker 1: the business world about fifteen years ago.

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00:21:25,680 --> 00:21:28,160
Speaker 2: And this was I guess the rehab.

435
00:21:27,760 --> 00:21:30,159
Speaker 1: Moment, right, they were gonna sit down and discuss the

436
00:21:30,160 --> 00:21:32,919
Speaker 1: most recent backlash against bud Light after the company sent

437
00:21:33,000 --> 00:21:36,440
Speaker 1: a dude with a penis dressed like a chick I

438
00:21:36,560 --> 00:21:39,960
Speaker 1: can of beer with his face imprinted on it. Mulvaney

439
00:21:40,040 --> 00:21:42,840
Speaker 1: first shared the customized cam in an Instagram video in

440
00:21:42,880 --> 00:21:45,280
Speaker 1: April the first, and since then, the company has lost

441
00:21:45,320 --> 00:21:50,000
Speaker 1: twenty billion dollars in market cap according to the most

442
00:21:50,040 --> 00:21:52,640
Speaker 1: recent numbers. They lost more money yesterday. By the way,

443
00:21:53,920 --> 00:21:57,520
Speaker 1: because those tremendous losses, those losses, I should say, excuse me.

444
00:21:58,640 --> 00:22:02,720
Speaker 1: The team CBS Press Whitworth about the decision to partner

445
00:22:02,760 --> 00:22:05,159
Speaker 1: with mulvaney. Quote, knowing what you know now, if you

446
00:22:05,280 --> 00:22:08,119
Speaker 1: could go back, would you send this can to this

447
00:22:08,160 --> 00:22:11,520
Speaker 1: one person again? Now, let me also explain something to

448
00:22:11,560 --> 00:22:16,000
Speaker 1: you about CEOs. Okay, and you used to be a

449
00:22:16,000 --> 00:22:24,159
Speaker 1: fiduciary of the shareholders you're supposed to protect, is probably

450
00:22:24,160 --> 00:22:28,080
Speaker 1: the best way of putting it. The shareholders. Like, if

451
00:22:28,119 --> 00:22:31,600
Speaker 1: I'm an investor in a company and you lose twenty

452
00:22:31,600 --> 00:22:35,520
Speaker 1: billion dollars because you're wanting to push an ideology, like

453
00:22:35,560 --> 00:22:37,840
Speaker 1: I'm going to be pretty mad as an investor. Your

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00:22:38,000 --> 00:22:42,320
Speaker 1: job for your investors, big or small, whether I have

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00:22:42,440 --> 00:22:46,520
Speaker 1: one share or millions of shares of your company, is

456
00:22:46,560 --> 00:22:49,520
Speaker 1: to make good business decisions, right, Because I don't invest

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00:22:49,520 --> 00:22:51,920
Speaker 1: in the stock to lose money. I invest in the

458
00:22:51,960 --> 00:22:55,879
Speaker 1: stock to what to make money. That's that's what I

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00:22:56,040 --> 00:23:00,480
Speaker 1: That's what I do. That's what we all do. And

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00:23:01,400 --> 00:23:04,359
Speaker 1: when you see it this way, right, when you see

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00:23:04,359 --> 00:23:09,840
Speaker 1: what Anheuser Busch has done, and they should have come

462
00:23:09,880 --> 00:23:11,680
Speaker 1: out and said, hey, we screwed this up, like we

463
00:23:11,880 --> 00:23:16,639
Speaker 1: really really really really screwed this up to the point

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00:23:16,680 --> 00:23:20,760
Speaker 1: where the headlines are so bad, right, the headlines are

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00:23:20,800 --> 00:23:23,639
Speaker 1: so terrible and in fact, I want to play for

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00:23:23,720 --> 00:23:26,359
Speaker 1: you a headline. Okay, I want to play for you

467
00:23:26,400 --> 00:23:29,520
Speaker 1: an intro. If you want to know how damning this

468
00:23:29,640 --> 00:23:35,200
Speaker 1: decision was to work with mulvaning, look no further.

469
00:23:37,359 --> 00:23:38,080
Speaker 2: Than CNN.

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00:23:39,000 --> 00:23:42,320
Speaker 1: Listen to what CNN led on their newscast here it.

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00:23:42,240 --> 00:23:45,720
Speaker 9: Is so this morning after two decades, a new top

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00:23:45,840 --> 00:23:50,320
Speaker 9: selling beer in the US. Mexican loger Modelo Especial was

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00:23:50,359 --> 00:23:54,160
Speaker 9: the top selling beer last month overthrowing bud Light. There

474
00:23:54,160 --> 00:23:56,040
Speaker 9: are a couple of things that play here, including flat

475
00:23:56,080 --> 00:23:59,520
Speaker 9: out changing taste, but also the backlash from a social

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00:23:59,600 --> 00:24:02,919
Speaker 9: media host by transgender influencer Dylan Mulvaaney.

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00:24:06,800 --> 00:24:08,240
Speaker 2: That's the headline.

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00:24:08,480 --> 00:24:14,080
Speaker 1: You've lost a position that you've had for how many years?

479
00:24:14,200 --> 00:24:14,760
Speaker 2: Decades?

480
00:24:15,760 --> 00:24:19,720
Speaker 1: Some of your drinkers weren't even alive, that's how long.

481
00:24:20,320 --> 00:24:22,680
Speaker 1: For two decades, you've been the top selling beer in

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00:24:22,720 --> 00:24:25,760
Speaker 1: the US and you lost that. And so you go

483
00:24:25,840 --> 00:24:28,560
Speaker 1: on TV and you would think that you'd be like, yeah,

484
00:24:28,560 --> 00:24:30,320
Speaker 1: I gotta I gotta fix this, right, I gotta I

485
00:24:30,320 --> 00:24:36,320
Speaker 1: gotta fix this. You're gonna fix it now? Hell no, no,

486
00:24:36,440 --> 00:24:40,120
Speaker 1: I'm not going to fix it. CNN said more than

487
00:24:40,240 --> 00:24:43,439
Speaker 1: just that. By the way, when they did this, they

488
00:24:43,480 --> 00:24:47,000
Speaker 1: went into a deep dive, and I'm going to play

489
00:24:47,000 --> 00:24:49,399
Speaker 1: that part of it for you so you understand just

490
00:24:49,480 --> 00:24:53,239
Speaker 1: how just how massive of a screw up this actually was,

491
00:24:53,320 --> 00:24:53,959
Speaker 1: and they know it.

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00:24:54,119 --> 00:24:58,000
Speaker 9: Correspond to Christine Romans here with the details Romans.

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00:24:59,160 --> 00:25:03,359
Speaker 10: Hither John will Yeah, Medello prevails. Pardon the pun over

494
00:25:03,480 --> 00:25:05,760
Speaker 10: the king of beer is dethroned. Here bud Light. In

495
00:25:05,800 --> 00:25:08,919
Speaker 10: the most recent month a bud Light's share of the

496
00:25:08,960 --> 00:25:12,280
Speaker 10: market was less than Modello, so it lost its top

497
00:25:12,400 --> 00:25:16,199
Speaker 10: standing there. Eight point four percent of beer sales in

498
00:25:16,280 --> 00:25:20,000
Speaker 10: May belonged to Medello, only seven point three percent bud Light,

499
00:25:20,080 --> 00:25:21,840
Speaker 10: So that is a big shift. Now, you're right, there's

500
00:25:21,840 --> 00:25:23,680
Speaker 10: some changing tastes happening, and also this is the month

501
00:25:23,720 --> 00:25:26,200
Speaker 10: of May. There's Senko to Mayo, and there's also a

502
00:25:26,240 --> 00:25:30,680
Speaker 10: really clever advertising promotion campaign from Medello and changing taste.

503
00:25:30,880 --> 00:25:33,760
Speaker 10: Analysts tell us that already there's been an affinity, a

504
00:25:33,760 --> 00:25:37,000
Speaker 10: growing affinity for Mexican beer and spirits for some time now.

505
00:25:37,040 --> 00:25:38,879
Speaker 10: So that's sort of a tipping point that you're seeing

506
00:25:38,880 --> 00:25:41,240
Speaker 10: here when you look at overall sales, though sales for

507
00:25:41,320 --> 00:25:44,280
Speaker 10: bud Light down more than twenty four percent in the month.

508
00:25:44,400 --> 00:25:47,840
Speaker 10: That is kind of a staggering number here. And for

509
00:25:47,960 --> 00:25:51,520
Speaker 10: Medello sales up twelve point two percent. So these numbers

510
00:25:51,720 --> 00:25:57,359
Speaker 10: are telling a story. You mentioned the transgender influencer who

511
00:25:57,560 --> 00:26:01,040
Speaker 10: had one can one customer mice can of bud Light

512
00:26:01,119 --> 00:26:05,359
Speaker 10: and did an Instagram post, and conservative media and conservative

513
00:26:05,400 --> 00:26:11,280
Speaker 10: social media went on a very full, full forceful boycott

514
00:26:11,359 --> 00:26:14,640
Speaker 10: of the beer, and so that is one other kind

515
00:26:14,720 --> 00:26:16,919
Speaker 10: of factor here at play.

516
00:26:17,000 --> 00:26:18,600
Speaker 1: So you've got to right, by the way, it's not

517
00:26:18,760 --> 00:26:21,639
Speaker 1: one other factor. It is the whole damn story. And

518
00:26:21,680 --> 00:26:23,920
Speaker 1: they're like, oh, they just did one can with mulvany

519
00:26:24,000 --> 00:26:26,879
Speaker 1: on it. You have put a dude with a penis

520
00:26:27,000 --> 00:26:29,440
Speaker 1: on a can of beer, dressed like a chick celebrating

521
00:26:29,440 --> 00:26:34,520
Speaker 1: Women's Month, and then you didn't apologize and say you

522
00:26:34,560 --> 00:26:36,720
Speaker 1: got it wrong, and then you didn't back down from it.

523
00:26:37,480 --> 00:26:40,560
Speaker 1: So it's not the one can. It's the aftermath of

524
00:26:40,640 --> 00:26:42,840
Speaker 1: the one can. If you would have come out and said, hey,

525
00:26:42,880 --> 00:26:45,840
Speaker 1: we screwed this up. That's really bad, and separate yourself

526
00:26:45,880 --> 00:26:48,760
Speaker 1: from the person that did the marketing decision like this,

527
00:26:48,760 --> 00:26:51,040
Speaker 1: this is a low level staffer that did this, that

528
00:26:51,160 --> 00:26:53,199
Speaker 1: was supposed to be reaching out to influencers. This was

529
00:26:53,200 --> 00:26:56,200
Speaker 1: not coming from the top. We apologized to our beer drinkers.

530
00:26:56,480 --> 00:26:59,560
Speaker 1: We made a huge mistake. The twenty four percent witness beer.

531
00:26:59,560 --> 00:27:01,000
Speaker 1: And by the way, this has nothing to do with

532
00:27:01,000 --> 00:27:03,840
Speaker 1: singing to Mayo. Okay, as they're trying to act like, oh,

533
00:27:03,880 --> 00:27:06,679
Speaker 1: this is a two tier thing, No it's not. And

534
00:27:06,720 --> 00:27:10,920
Speaker 1: when you keep giving us the middle finger every time

535
00:27:11,000 --> 00:27:12,919
Speaker 1: we do something like this where we stand up for

536
00:27:12,960 --> 00:27:14,840
Speaker 1: what we believe in, you're like, oh, well it's really

537
00:27:14,880 --> 00:27:15,480
Speaker 1: singing to Mayo.

538
00:27:15,840 --> 00:27:17,680
Speaker 2: It just makes us stick in even more.

539
00:27:18,600 --> 00:27:21,040
Speaker 1: Go ahead and lie and say, oh, well, this is

540
00:27:21,160 --> 00:27:24,399
Speaker 1: multiple factors that well, there's really an affinity coming for

541
00:27:25,359 --> 00:27:28,720
Speaker 1: Mexican beer. Midello had no shot in hell of becoming

542
00:27:28,760 --> 00:27:31,560
Speaker 1: the number one beer now or any time in the

543
00:27:31,600 --> 00:27:36,800
Speaker 1: near future if it wasn't for people boycotting bud Light.

544
00:27:38,000 --> 00:27:41,720
Speaker 1: The twenty four percent sales decline year over year month

545
00:27:41,760 --> 00:27:44,760
Speaker 1: over month, however you want to look at the numbers,

546
00:27:45,200 --> 00:27:48,560
Speaker 1: is not because there's a new affinity for Mexican beer.

547
00:27:48,640 --> 00:27:51,640
Speaker 1: It is because people are now choosing that beer over

548
00:27:51,760 --> 00:27:55,439
Speaker 1: bud Light. And because twenty five percent of bud Light

549
00:27:55,960 --> 00:27:59,119
Speaker 1: drinkers are saying will never buy your beer again unless

550
00:27:59,160 --> 00:28:01,359
Speaker 1: you change course. Well, we now know they're not going

551
00:28:01,400 --> 00:28:04,880
Speaker 1: to change course. They're not going to change course at all.

552
00:28:04,920 --> 00:28:07,640
Speaker 1: And so they're not saying they did anything wrong. They're

553
00:28:07,640 --> 00:28:09,520
Speaker 1: not saying they messed up. They're sticking to their guns.

554
00:28:09,520 --> 00:28:12,639
Speaker 1: And that's fine, stick to your guns, but we're not

555
00:28:12,680 --> 00:28:16,640
Speaker 1: coming back. And when you lie to us and say, oh, well,

556
00:28:16,640 --> 00:28:19,320
Speaker 1: it's multitude of things, not really just the Republicans that

557
00:28:19,400 --> 00:28:20,200
Speaker 1: did this are the people.

558
00:28:20,280 --> 00:28:21,760
Speaker 2: They alienated their customer base.

559
00:28:22,000 --> 00:28:23,400
Speaker 1: And you try to say, I sing it to mind

560
00:28:23,440 --> 00:28:26,000
Speaker 1: all this other crap, like you're just insulting us, and

561
00:28:26,040 --> 00:28:27,760
Speaker 1: now we're going to not do it even more. Were like,

562
00:28:28,160 --> 00:28:30,280
Speaker 1: you're hurting your brand even more. We're going to dig

563
00:28:30,320 --> 00:28:31,679
Speaker 1: in even more. Keep listening.

564
00:28:31,880 --> 00:28:35,040
Speaker 10: The thing's happening. You've got changing tastes, You've got several months,

565
00:28:35,080 --> 00:28:38,600
Speaker 10: actually years of declining taste for light beer in particular,

566
00:28:38,880 --> 00:28:42,560
Speaker 10: and then you have this social media fail, quite frankly

567
00:28:43,320 --> 00:28:45,920
Speaker 10: from bud Light. I mean a lot of corporate directors

568
00:28:45,920 --> 00:28:48,880
Speaker 10: are watching what bud Light did in this whole situation

569
00:28:49,160 --> 00:28:51,640
Speaker 10: and finding a lot of fault with how it managed

570
00:28:51,680 --> 00:28:53,840
Speaker 10: and behaved the situation. From a corporate and pr.

571
00:28:53,640 --> 00:28:56,960
Speaker 7: Standpoint, Christine Romans, thank you very much.

572
00:28:57,600 --> 00:29:01,920
Speaker 1: By the way, if this all could have stopped, if

573
00:29:01,960 --> 00:29:03,440
Speaker 1: the CEO would have come out and said, hey, this

574
00:29:03,520 --> 00:29:06,880
Speaker 1: was a massive screw up and we are sorry and

575
00:29:06,960 --> 00:29:09,400
Speaker 1: not been afraid of the woke mob of the left

576
00:29:09,440 --> 00:29:14,040
Speaker 1: and the LGBTQ activist community. All they had to do

577
00:29:14,200 --> 00:29:16,680
Speaker 1: was come out and say, we really screwed this up

578
00:29:16,800 --> 00:29:21,440
Speaker 1: in a way that you've never seen before, and we apologize.

579
00:29:21,440 --> 00:29:21,600
Speaker 2: Now.

580
00:29:21,760 --> 00:29:23,520
Speaker 1: Do I think all twenty four percent would come back No?

581
00:29:23,640 --> 00:29:25,640
Speaker 1: I think you know, time would tell and it could

582
00:29:25,640 --> 00:29:28,440
Speaker 1: get a little bit better, right, it could have gotten

583
00:29:28,480 --> 00:29:34,320
Speaker 1: a little bit better. But ultimately, okay, ultimately what this

584
00:29:34,480 --> 00:29:39,240
Speaker 1: comes down to, Ultimately, what this boils down to is

585
00:29:39,280 --> 00:29:43,920
Speaker 1: you have a brand that refuses to budge and that's fine,

586
00:29:44,200 --> 00:29:46,120
Speaker 1: but I'm never going to drink a butt light again

587
00:29:46,800 --> 00:29:51,160
Speaker 1: with this brand being this way. Please share this podcast

588
00:29:51,200 --> 00:29:53,520
Speaker 1: with your family and friends. Make sure you write us

589
00:29:53,560 --> 00:29:56,800
Speaker 1: a five star review wherever you're listening to this podcast,

590
00:29:56,840 --> 00:29:57,600
Speaker 1: so that will.

591
00:29:57,400 --> 00:29:59,680
Speaker 2: Help us reach more people. And we will see you

592
00:29:59,720 --> 00:30:00,560
Speaker 2: back here tomorrow.