ss_blog_claim=8dcabb3175f064b32823a45ed345083b Majik's Thoughts: Another Triumph For Another Canadian Company, Cheers!

2/13/2008

Another Triumph For Another Canadian Company, Cheers!

Now here's a typical Canadian story for you. I was checking out one of my favourite news networks' website and came across a story about a Canadian beer company announcing that their fourth quarter profits were up by over 70 percent. This really doesn't strike me as odd at all, considering two of our favourite past times are drinking and watching hockey, you can't watch your favourite hockey team win or lose with out a beer in your hands. The picture for this post was really easy to find to, considering I had just finished drinking a beer and used my camera phone to take the picture, yup I'm definitely Canadian eh!

The part of the article I was reading that I found the most interesting was that the companies stock jumped from just over $4 to almost $50 on the New York Stock Exchange. Now the company I am talking about is Molson Coors, one of my favourite beers happens to be made by Molson and is definitely Canadian. I'm sure all the noise us Canadians made about having to pay much higher prices than Americans on similar goods while our dollar continues to hover around par with the American greenback, had a little something to do with their jump in profits. We're Canadians with a little bit more disposable income, what else would we spend it on especially during the holiday season?

Now don't get me wrong, not all Canadians are heavy beer drinkers, although a lot of us do like drinking a fine cold brew every once and a while. Even though not every Canadian drinks beer, I'm sure a lot of us will rest easier now that some costs have come down and we can enjoy a cold beer. Personally I prefer to have a nice cold "Brown pop" after a long day at work. Now as for what the news of one of Canada's largest breweries trading higher on the N.Y.S.E. means for Canadians, well I'm sure the cash injection from a higher trading value will definitely bring more value to our dollar. Not that I'm predicting another record rise of our dollar, just saying that the stability of our dollar is more of a sure thing than in recent years. Well that's my opinion, what do you think?


Image: my camera phone
News Story: Molson Coors stock surges as profit beats estimates

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