Word: pabst
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...depend on Caterpillar for one out of every five jobs. Recession and the slumping farm economy had pushed Peoria's unemployment rate to 19.2% before the walkout, and the strike sent it to more than 40%. A wave of corporate defections has compounded the city's problems. Pabst Brewing and Hiram Walker have pulled out of the central-Illinois community in the past two years. Now Caterpillar paychecks will pump badly needed money back into the city and help sales of cars, stereos and refrigerators...
...term elections. But unemployment has now become a local issue as depressed communities and neighborhoods are increasingly shaken by the epidemic of layoffs and business failures. Nowhere is that concern more evident than in that symbol of heartland America, Peoria (pop. 124,000, unemployment rate 16.5%) where the Pabst brewery earlier this year locked its gates, the Caterpillar Tractor Co. plant has laid off 8,000 workers over the past two years, and House Minority Leader Robert Michel, who faithfully shepherded the Reaganomics revolution through Congress, is having a substantially more difficult race than he might have expected. "Jobs, jobs...
...Congressman Robert Michel has played well in Peoria, the largest town in his 18th Congressional District in central Illinois. Now Peoria seems to be having its doubts. Long a pocket of prosperity in America's heartland, the region is reeling from depressed farm prices and 16% unemployment. The Pabst brewery and the Hiram Walker distillery have left town, and giant Caterpillar Tractor alone has laid off 8,000 workers. So Michel, 59, the House minority leader and President Reagan's high-profile point man on Capitol Hill, is in an unexpectedly tight race with a relative unknown, Democrat...
...Pabst is gradually pushing the price of its Blue Ribbon brand back up again in an effort to restore its status as a premium beer. For now, though, the company's hopes for stronger sales rest chiefly with its own new entrant into the low-cal sweepstakes, Jacob Best Premium Light, and its popular West Coast superpremium brand, Henry Weinhard Private Reserve...
...company jumped from 15th to fourth in the industry during the past decade by buying up old regional brands like Grain Belt, Rainier and Black Label, and running them more efficiently than had their previous owners. So far, the brewer's attempt to expand nationally by taking over Pabst has been stymied by the Milwaukee firm's defensive maneuvers to fend off acquisition. Moreover, the Justice Department has threatened antitrust action against the takeover because both Heileman and Pabst already have sizable shares of the Midwest beer market...