On this day in 2000, the Nasdaq Composite stock market index peaked at 5132.52, thanks to investors who bid up dot.com shares to astronomically high prices. Those who didn’t take profits got a nasty surprise: the Nasdaq fell by more than 50 percent by year’s end.
And now….The Mash!
Fittingly, we begin on Wall Street, where big breweries’ stocks haven’t been doing well. According to SeekingAlpha.com, the only company whose shares are trading near their 52-week high is Kirin Holdings Company.
Congress is considering a bill that would cut taxes for small brewers. The bill’s supporters contend that lower taxes would enable breweries to expand production, add jobs, and attract more visitors.
Session IPA is popular, but opinions vary as to its definition. Draft magazine has published a scale which shows how much these IPAs vary in alcoholic strength and, especially, perceived bitterness.
A few years ago, Emily Hengstebeck and her friends partied together at beer festivals. Now employed by a brewery, she found herself on the other side of the table. She describes what it’s like.
More than 7,000 CraftBeer.com readers filled out a survey asking them what was their state’s favorite beer bar, and why they liked it. Without further ado, here are the winners in each state.
It’s still “Miller Time” in Chicago. According to BevSpot, Miller has a more than 8-percent market share in the Windy City, more than twice the brand’s market share nationwide.
Finally, a Virginia brewery will release a beer honoring Secretariat, the 1973 Triple Crown winner, at a birthday celebration this month. The horse was nicknamed “Big Red”; the beer is an imperial red India pale ale.
On this day in 1781, forty-four Spanish settlers founded El Pueblo de Nuestra Señora La Reina de los Ángeles de Porciúncula (The Village of Our Lady, the Queen of the Angels of Porziuncola) in southern California. The settlement eventually acquired the friendlier name, “Los Angeles.”
And now….The Mash!
We begin in Colorado, where two men got into the beer business without brewing. Last year they formed Inland Island Yeast Laboratories, whose customers include three dozen local micros.
Japanese beer taxes are steep, but the government is about to give brewers a break. It will also change the century-old definition of beer, which requires it to contain at least two-thirds malt.
Darrin Wingard, of West Caln, Pennsylvania, has drunk a new beer on each of the last 1,100 days. You can follow his beer adventures on his Instagram account, newbeeraday.
Synek, a packaging company, has unveiled a self-contained countertop tap system that dispenses 128-ounce cartridges of beer that will stay fresh for a month. A home version retails for $289.
Aficionados keep rare beers in their cellar, sometimes for years. However, cellaring might be the wrong thing to do with hoppy beers because hop flavor is the first thing to fade as time passes.
Last weekend, Brian Harman became the third golfer in PGA Tour history to shoot two holes-in-one in the same round. He celebrated by treating the media to $3,000 worth of beer and whiskey.
Finally, British writer Pete Brown laments his government’s failure to grasp that people drink to achieve a state somewhere between sobriety and drunkenness. The English language doesn’t even have a word for that state.
Many of us plan to celebrate Independence Day with an American craft beer–something that, just a generation ago, barely existed. Tom Acitelli, the author of The Audacity of Hops, identifies four milestones that made America’s craft brewing industry what it is today.
First, there’s Fritz Maytag’s decision in 1965 to buy Anchor Brewing Company, the nation’s last surviving craft brewery, and improve what was then a very bad product. Maytag insisted on high quality and independent ownership, and suffered big financial losses for years before his brewery became a national icon.
Second, in 1966, Jack McAuliffe, a U.S. Navy mechanic stationed in Scotland, bought a home-brewing kit at a local drugstore and discovered he could brew a very good pale ale. His own attempt at commercial brewing, the New Albion Brewing Company, eventually failed–but not before it encouraged other homebrewers to go commercial.
Third, and you might not have known this, Coors Brewing Company tested a new hop variety, the Cascade hop, which was the first American-grown variety considered good enough to use as an aroma hop. Maytag used it in his Liberty Ale, released in 1975 to commemorate the 200th anniversary of Paul Revere’s famous ride. Liberty Ale led the way to modern India pale ale, the most popular style of American craft beer.
Finally, a 1976 act of Congress lowered the federal excise tax on the first 60,000 barrels of beer. After the tax cut took effect, the number of craft breweries in America grew rapidly. Many of them, including Jim Koch and Pete Slosberg, decided to rent the equipment and subcontract the labor at one of many under-capacity regional breweries being squeezed by industry consolidation.
The rest, as they say, is history.