New York City's Department of Health is discussing a possible ban on happy hour drink specials in the city. Someone in the department told the New York Post that while it had not been formally proposed, it has "absolutely been discussed." The prohibition falls in line with the department's commissioner, Thomas Farley, who has a campaign called "Take Care New York 2012."
Farley's goal is to "reduce risky alcohol use," which would be to decrease alcohol-related hospitalizations from 209 per 100,000 in 2006 to 170 this year. Part of the plan also includes reducing the "density" of alcohol outlets.
Mayor Bloomberg was reported to be furious with Farley about the report because he was not told about the plan.
A source in the Department said, "A lot of DOH employees go to happy hour. It's silly." If it is a success, state law would be required to change and they would join the other 19 states that prohibit happy hour.
Business section: Investing ideas
If the prohibition in NYC is a success, alcohol companies would likely feel the result. Below is a list of alcohol companies, including breweries, wineries, and distilleries. Do you think they will be affected?
List sorted by market cap. (Click here to access free, interactive tools to analyze these ideas.)
1. Companhia de Bebidas Das Americas
2. Anheuser-Busch InBev
4. Fomento Econ: Engages in non-alcoholic beverage, retail, and beer industries. The company has a market cap of $29.08 billion, most recent closing price at $81.88.
5. Brown-Forman: Engages in manufacturing, bottling, importing, exporting, and marketing alcoholic beverages. The company has a market cap of $12.27 billion, most recent closing price at $85.69.
7. Molson Coors Brewing
8. Compania Cervecerias Unidas: Produces, bottles, sells, and distributes beverages in Chile and Argentina. The company has a market cap of $4.62 billion, most recent closing price at $71.65.
9. Constellation Brands: Produces and markets alcoholic beverages primarily in the United States, Canada, and New Zealand. The company has a market cap of $4.35 billion, most recent closing price at $21.55.
10. Vina Concha y Toro: Produces and markets wine products. The company has a market cap of $1.56 billion, most recent closing price at $41.47.
Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned above. Analyst ratings sourced from Zacks Investment Research.
Kapitall's Daniel Guttridge does not own shares of any companies mentioned above. Data sourced from Finviz. Motley Fool newsletter services have recommended buying shares of Diageo, Compania Cervecerias Unidas, Fomento Econ, Beam, and Molson Coors Brewing. The Motley Fool has a disclosure policy.
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