Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Thursday, June 12, 2008

Let's Talk Beer

Over at the Washington Monthly, Kevin talks beer. In case you missed it, a Belgian-based megacorp has offered to buy out Anheuser-Busch (the second-biggest buying the biggest--here's a very long post on it at my beer blog). Apparently, the half-wits at the WSJ (who recently wrote an article about my activities--that obviously being the full-witted half) think it would be great politics for the workers to sign onto the merger. You know, because the Wall Street Journal always has the workers' back.

Drum points out the obvious (Am I the only one who thinks workers are going to be less than reassured by the prospect of a "new-and-improved management team" that's "focused on cost-cutting?") and then offers this:
In any case, [the WSJ's] main point is that "it would be politically untenable for Obama to welcome a takeover," so John McCain should take the bait and position himself as a champion of free trade, even if it does mean letting a Belgian company run by a Brazilian dude take control of good 'ol American Budweiser. After all, who better to take a stand on this than a guy who dumped his first wife 30 years ago in order to marry a wealthy heiress who now owns one of the largest Anheuser Busch distributors in the country?
That's a paragraph rich in flavor, and I hope McCain does take the bait. But I don't agree with Kevin that Obama can stay neutral on the deal. It's a great opportunity to for him to bring some nuance to this and argue both for the workers, for St. Lousians (?), and for small businesses in opposing this deal. Obviously, this is a big deal for the locals. They don't want a faceless company owning the local company (InBev has 200+ brands and is worldwide). Whatever else you can say, it won't preserve the local flavor. One of the ways InBev makes these deals work is to streamline ops--which means laying off workers. Brewery work is good, honest, put-your-kids-through-college work. Finally, this is probably bad new for many of the 1400 small craft breweries in the country, who now have to compete against a multinational megacorp for barley and hops--in the middle of shortages on both.

There's no upside for anyone not employed by InBev that I can see. I say make McCain go for the defense, and then roll out the above talking points. Beer drinkers are the guys you want on your team.

Saturday, February 24, 2007

The Critics and the Money

How to rate art? It is not only subjective among appreciators, it's variable across time. We relate to movies differently in the moment than we do after months or years of reflection. (Subtle movies fare better in my memory, once the evanescence of emotion has evaporated.) As a crude example, witness how the critics responded to movies at the time.

Below are aggregate scores of a selection of critics from around the country assigned by Metacritic. The scale they use rates movies from 1 to 100. No movie in its initial release has ever scored above a 98, and only one movie did that; the next-highest is 94. The movie receiving the 98 was this year's Pan's Layrinth, full of emotionan and imagination. But when it came time to rank their best movies of the year, only seven cited Pan's. By contrast, ten cited United 93, which only received a 90 at the time it was released. The Departed, which got an 85 by the critics at the time of release, was remembered retrospectively by eight as the best of the year. Go figure. Below are the Metacritic rankings and critics' best-of movies:
Metacritic aggregate
Pan's Labyrinth - 98
The Queen - 91
United 93 - 90
Borat - 89
Letters from Iwo Jima - 89

Cited by critics as best of the year
United 93 (10)
The Departed (8)
Pan's Labyrinth (7)
Letters from Iwo Jima (6.5)
Children of Men (5)
Babel (4)
The Queen (4)
Flags of our Fathers (3.5)
Another way of looking at movies is how they fared in the various awards ceremonies:
Best Picture
Babel (Golden Globes), The Queen (British Academy), Departed (Boston and Chicago Critics, Critics Choice), Letters from Iwo Jima (LA Critics, National Board of Review), Pan's Labyrinth (National Society Of Film Critics), United 93 (NY Critics)

Best Director
Martin Scorsese (Golden Globes, Directors Guild, Boston, Chicago and NY Critics, Critics Choice, National Board of Review), Paul Greengrass (British Academy, LA Critics, National Society Of Film Critics)
Of course, the least accurate, but most heavily-weighted metric in Hollywood (and one that comes into play at awards time), is money. It is axiomatic in the modern era that the best movies are never the most successful, and so it was in 2006:
1. Pirates of the Caribbean $423 million
2. Cars $244 m
3. Night at the Museum $239 m
4. X-Men: The Last Stand $234 m
5. The Da Vinci Code $218 m
What's more interesting is how good movies do at the box office. Many believe that Scorsese continues to lose out at the Oscars because his films just don't do that well. Until this year, he'd never had a $100-million-dollar movie. Could it be that Little Miss Sunshine is being taken seriously this year because it's made respectable money for an indie? And could it be that Clint, respected as much for his art as his commerce, has no real chance at this year's Academy Awards?

To turn the axiom on its side, you might also say that a movie, no matter how fantastic it is, can never achieve the level of cultural transcendence without making some money. Probably this has more to do with the communal aspect of movies--we like to share the experience, talk about it, and reflect on the meaning with others. If a movie is too obscure, it withers in obscurity. Witness the IMDb top movies--nary an obscure pic among 'em. (It's based on averages, so there's no reason an obscure movie couldn't be there.)

So, whether crass or credible, money matters. Below is a list of the major Oscar contenders and their grosses through 2/23 (best picture candidates starred):
15. The Departed $132 m*
17. The Devil Wears Prada $125 m
19. Dreamgirls $100 m
52. Little Miss Sunshine $55 m*
62. The Queen $52 m*
92. Flags of Our Fathers $34 m
93. Babel $33 m*
94. United 93 $31 m
95. Pan's Labyrinth $31 m
145. Letters from Iwo Jima $12 m*
Bode well for the Departed? Badly for Babel? Time will tell.