Where Will MillerCoors Call Home? Not Here...
July 1, the start of a new fiscal year, marks day one of MillerCoors, the new entity that turns longtime brew competitors Miller and Coors into a corporate Chang and Eng. No one knows at this point what this merger will portend for the overall suds market or individual guzzlers, but one thing's virtually assured: Coors won't need to expand its Golden offices.
As noted in a July 1 TradingMarkets.com release, MillerCoors chairman Pete Coors announced several months ago that in order to avoid the appearance of favoritism, the operation's headquarters would likely wind up somewhere other than Golden or Milwaukee, Miller's longtime home. The piece quotes "industry sources" who hint that either Chicago or Dallas will win the contest, and the fifty to a hundred jobs that come with it. But while there are no plans to close any breweries, the news isn't all good for Coors employees. Roughly equal cuts in administrative and office jobs in Milwaukee and Golden are anticipated. The only question: How many?
As a result, there's undoubtedly some anxiety in the corridors at Coors this morning despite the excitement of a new venture. Lucky thing the employees there have easy access to cold ones. -- Michael Roberts