(Source: Richmond Times - Dispatch)
Matt Jackson, owner of Rush Creek Sports Bar and Grille in Columbus, Ohio, poured a Bud Light beer for a customer in July. Anheuser-Busch is rolling out a $50 million advertising campaign for Bud Light playing up the beer's "drinkability," trying to set the brand apart as rival MillerCoors waits until the new year to release new ads for Miller Lite and Coors Light. Bud Light's new ads, which start airing tomorrow during college football, feature situations ranging from a football game to a pool party to tell consumers that all light beer isn't the same and Bud Light has taste but won't fill them up. (photo cutline) VIRGINIA
Massey Energy buys coal reserves in W.Va.
Massey Energy Co. has acquired the Mountaineer 2 Mine in Greenbrier County, W.Va., including 200,000 tons of metallurgical coal reserves, the Richmond-based company announced yesterday.
In addition to the acquired reserves, the Mountaineer purchase gives Massey access to mine 2 million tons of metallurgical coal reserves that it controls on adjacent property.
"We are excited about this acquisition and the immediate opportunities it provides," said Don Blankenship, Massey's CEO and president. "We can add significant metallurgical coal production almost immediately with relatively low start-up costs."
Terms of the acquisition were not disclosed.
Tax holiday targets energy-efficient goods
Virginia is helping residents save money on energy-efficient products with a sales tax holiday this month.
Gov. Timothy M. Kaine yesterday announced the second annual energy sales tax holiday will take place Oct. 10-13. During the holiday, high-efficiency products with Energy Star or WaterSense certification that cost $2,500 or less will be exempt from sales tax.
The products include compact fluorescent light bulbs, ceiling fans, washing machines, refrigerators and room air conditioners, and water efficient products such as certain toilets and faucets.
The governor's office said Virginians saved an estimated $166,000 during the tax holiday last year.
Dividend declared
Grocery distributor and supermarket owner Supervalu Inc., a major local employer, will pay a regular quarterly dividend of 17.25 cents per share Dec. 15 to shareholders of record Dec. 1.
THE NATION
Merrill Lynch chief gets Bank of America duties
NEW YORK - Bank of America Corp. said yesterday that Merrill Lynch & Co.'s Chief Executive John Thain will take a new position at Bank of America once the bank completes its
Thain acquisition of Merrill.
The new division Thain will oversee includes many of the operations that will be merged from Merrill, including the brokerage and mutual fund operations as well as Bank of America's investment banking and management operations already in place.
Thain, 53, became chief executive of Merrill Lynch in November. Thain previously served as head of the New York Stock Exchange and as president and chief operating officer at Goldman Sachs Group Inc.
Elsewhere
- Falls Church-based General Dynamics Corp., the largest maker of armored vehicles for the U.S. military, has approved the repurchase of as many as 10 million shares to replenish an authorization that's less than 2 months old.
ILLUSTRATION: PHOTO
MEMO: EXCERPTED FROM BUSINESS BRIEFS
Originally published by Staff and Wire Reports.
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