Cindy McCain, wife of Republican presidential candidate John McCain, is set to get a huge payout from the sale of Anheuser-Busch Cos., brewer of Budweiser and hundreds of other brands, to Belgian beverage giant InBev NV.
McCain, the heiress to the third-largest Anheuser distributor, owns at a minimum $1 million in the American company, according to John McCain’s Senate financial disclosure forms, which don’t offer any more information for large assets held by his spouse. Under the deal, she and other stockholders will get a cash payout for the stock, which is owned through her company, Hensley and Co.
According to the update, Cindy's holdings are even fluffier:
UPDATE: Mrs. McCain’s company owns between $2.5 million to $5 million in Anheuser stock, meaning it will earn $800,000 to $1.6 million premium on the pre-deal stock price. Although Senate personal financial disclosure forms only say that Mrs. McCain’s firm owns at least $1 million, a Democratic Party aide points out that it also reports $50,000-$100,000 in dividends in 2007. With $1.25 dividend per share last year, that means the McCains own between 40,000 and 80,000 shares.
Drink up, Cindy! And remember to pay your taxes (this time)...
... Cashing out could leave the McCains with hefty capital gains, which would be taxed at a rate of 15% under the Bush tax cuts that John McCain opposed and now supports. (Barack Obama has proposed raising the capital gains tax.)
Hensley and Co., founded by Cindy McCain’s father, has an exclusive distribution deal for Budweiser and other products in the Phoenix area. The merger is unlikely to affect that arrangement, and the company already sells InBev brands, including Stella Artois and Beck’s, through an existing agreement with Anheuser.
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%>
Tell a friend
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dim email, sendmail
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'send a specific page or send a site url
dim url
'url = Request.ServerVariables("HTTP_REFERER")
url = "http://www.aspbasics.net"
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sendmail.Body = "Site recommendation from a friend!" & _
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'this sets mail priority.... 0=low 1=normal 2=high
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%>
"[T]he practice of arbitrary imprisonments, have been, in all ages, the favorite and most formidable instruments of tyranny.' Alexander Hamilton, Federalist No. 84, August, 1788
