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  1. #1
    Guru
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    Jun 2008
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    Diageo's Creative Accounting

    Possibly evil international spirits behemoth Diageo (maker of Bulleit, Dickel, Johnny Walker, et al) has decided to plug a hole in its pension plan with Scotch.

    http://www.nytimes.com/2010/07/02/business/global/02whiskey.html
    bibamus, moriendum est
    Sipology Blog

  2. #2
    Disciple
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    Nov 2005
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    Alliance,Ohio
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    1,520

    Re: Diageo's Creative Accounting

    Diageo is capable of anything. Why don't they set aside some scotch to use as funding to reopen S-W? I doubt it would cost $645M!

    Thomas

  3. #3
    Connoisseur
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    Sep 2006
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    Arkansas
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    988

    Re: Diageo's Creative Accounting

    Quote Originally Posted by ThomasH View Post
    Diageo is capable of anything. Why don't they set aside some scotch to use as funding to reopen S-W? I doubt it would cost $645M!

    Thomas
    Marketing, my friend. Notice that they have already committed to buying them back in 15 years. A decent aging time for malts. It's basically a form of self insurance. The employees have a guaranteed pension fund (barring a fire, etc) and Diageo gets to age it's whisky while retaining it for other expense coverage.

 

 

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