Guinness Sales Drop in Ireland
We remember an old joke an Irishman told us when we were but wee lads:
Q: Why did the English invent Guinness?
A: To keep the Irish from taking over the world.
We're not sure how much truth there is in that, but it looks like we might be in for an Irish takeover soon. Diageo, owner of Guinness, has reported that sales of the black, frothy nectar of the gods...errr, beer...have taken a precipitous drop in Ireland. According to the BBC News, "the Diageo results statement said challenges in the Irish beer market had 'adversely impacted' on growth in Europe, with Guinness sales in Ireland down 3% over the year."
Diageo states they have no intention of selling Guinness and overall sales are actually up thanks to strong performance in the UK, US and Canada. At least that makes us feel better - those poor shareholders won't have to worry about selling their yachts anytime soon. But it brings to mind one question - what the hell are the Irish drinking now?
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Posted by Jake at September 1, 2006 3:18 PM