Government Shutdown Blocks New Beers, and 6 More Things You'll Want to Know Today

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Bottles of beer from a micro brewery
Alamy
Here's a quick rundown from the world of business and economics this morning: the things you need to know, and some you'll just want to know.

• OK, now, the federal government shutdown has gone too far: It's putting the kibosh on new craft beers. True, America is in no danger of hitting its Bud Light ceiling. However, with the closure of the obscure Alcohol and Tobacco Tax and Trade Bureau -- which must approve new breweries, recipes and labels -- applications for any new brews are in limbo. Which means unless they dealt with the paperwork in advance, our nation's hip brewmasters won't be able to to supply us with Cranberry Mince Doppelbock, or whatever innovative new beverages they had on tap for the holiday season.

• In slightly more important news, President Obama is expected to officially nominate Janet Yellen to be the next Chair of the Federal Reserve at 3 p.m. Wednesday. Assuming Senate confirmation (which seems likely to be a smooth process), the monetary policy dove will become the first woman to control the world's most powerful central bank.

• Jos. A. Bank Clothiers (JOSB) likes the way Men's Wearhouse (MW) looks: Undervalued and vulnerable to a takeover after the boardroom brouhaha that led it to oust founder and Chairman George Zimmer. Jos. A. Bank is bidding $2.3 billion to buy its larger rival. The $48 a share deal is a 36 percent premium over Men's Wearhouse's closing price of $35.24 Tuesday. But Men's Wearhouse swiftly rejected the offer, saying it undervalues the company.

• A few weeks ago, DailyFinance reporter Bruce Watson warned us about the potential dangers of Chinese chicken to your health: But today, chicken in China may be harming your wealth -- if you have Yum Brands (YUM) in your portfolio. Yum reported disappointing earnings before the bell Wednesday, primarily due to poor sales numbers in China for KFC. The world's most populous nation accounts for 40 percent of Yum's profits, so no surprise, it's shares lost more than 8 percent by 10 a.m. The company also owns Taco Bell and Pizza Hut.

• Apple's sales of the new iPhone 5s and 5c have been impressive out of the gate, but the day those new devices were revealed to the public, Apple (AAPL) stock dropped. Why? The event included no news about new iPads (not to mention a lack of game-changing new gadgets). On Oct. 22, Apple will partially remedy that with a press event showing off the next iterations of its iPads.

• Craft brewers may be suffering, but some businesses are managing to benefit from the government shutdown. State parks, private museums and other venues are touting themselves as alternatives to closed federal destinations. And an insurance company that sells wedding policies is pitching those policies bu suggesting couples consider of all the nuptials planned to take place in national parks that just got unexpectedly canceled.

• And finally, here's a warning to anyone tempted to take advantage of other people's superstitions by buying a supposedly "haunted" house on the cheap: An infamous home can become a serious money pit -- even if you never once see anything that inspires you to call "Ghostbusters," "Ghost Hunters" or the Weekly World News.

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39 Comments

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ga7smi

craft beer doesn't interest me - I like real beer

October 10 2013 at 12:57 AM Report abuse -2 rate up rate down Reply
1 reply to ga7smi's comment
hugh_geenormous

Real watery beer?

October 10 2013 at 7:30 AM Report abuse rate up rate down Reply
Stephen

Oh, no...say it isn't so..... new craft beers on a hold for the time being.
Next thing to happen ...same as during prohibition.... beer makers will go underground.

October 09 2013 at 11:09 PM Report abuse rate up rate down Reply
Nancy Lee

Who is the puppet master? Who is voting to SPEND more money.....Demo's! Who wants to raise the debt ceiling?....Demo's. Who says the national debt is being paid down....Demo's....however the Demo's want to get more and spend more. What is wrong with this picture? Our elected government is taking all of us for a big ride.....and we will all pay. I have to live on a limited budget and watch what I spend.....how stupid are they in DC?

October 09 2013 at 10:39 PM Report abuse rate up rate down Reply
1 reply to Nancy Lee's comment
setanta54s_back

how stupid ?
no dumber than the morons electing THEM.

October 09 2013 at 10:44 PM Report abuse +2 rate up rate down Reply
anursefromhell

Why is this govt. still collecting taxes while shut down. Why isn't that part of the govt shut down?

October 09 2013 at 10:34 PM Report abuse +1 rate up rate down Reply
2 replies to anursefromhell's comment
setanta54s_back

not everything's shut down to begin with and they get paid on the 15th and 30th of the month-
so they DID GET A CHECK sept
and most likely the bs will end right before the 15th of THIS MONTH.

bunch a drama queens.


aaaaaaaaaaaand what about the NONESSENTIAL employees ?


mygawd
ALL OF THEM ARE FREEEEEEEEEKIN NONESSENTIAL.

October 09 2013 at 10:39 PM Report abuse rate up rate down Reply
ga7smi

are you really that dumb? - I am just ribbing you as you have a good point

October 10 2013 at 12:58 AM Report abuse rate up rate down Reply
dembamyshuterdown

OBAMIT APPROVAL RATING HITS ALL TIME LOW~~>JAN~20~09~~>"THE DISGRACING OF AMERICA"

October 09 2013 at 10:13 PM Report abuse rate up rate down Reply
samuri.sansui

Obama can't run any business, let alone a country. Him have no experience to do either. America will go up in flames, which it seems like he wants it to do to preserve a political party. He no care for all Americans, his past policies prove that.

October 09 2013 at 6:39 PM Report abuse +1 rate up rate down Reply
dembamyshuterdown

DAY 9 N THE OBAMIT N DUMMYCRAPS CLOSING OF THE WHOLE GOVERNMENT IS "STILL" WITH US. N NEXT WEEK THEY WILL SHUT THE WHOLE COUNTRY DOWN. !

October 09 2013 at 6:13 PM Report abuse +3 rate up rate down Reply
1 reply to dembamyshuterdown's comment
setanta54s_back

GOOD !

October 09 2013 at 10:41 PM Report abuse +2 rate up rate down Reply
jimconnellret

if i remember right the last time the GOP did something not even as bad as this they lost 10 seats. How many will they lose this time.

October 09 2013 at 4:46 PM Report abuse +1 rate up rate down Reply
2 replies to jimconnellret's comment
pdbliz

I do not think they will...the main stream news is starting to tell all on the Demmocrates..

October 09 2013 at 5:35 PM Report abuse +1 rate up rate down Reply
dembamyshuterdown

GOP WILL GAIN SEATS CAUSE ALL AMERICANS WANT TO CUT THE MUSLIM CLOWNS "OUT OF CONTROL SPENDING~~CUT THE SIZE OF GOVERNMENT N LOWER THE DEBT CEILING. !!!

October 09 2013 at 5:57 PM Report abuse +2 rate up rate down Reply
jimconnellret

are they part of the people that say we are going to get something out of this but have no clue what it is

October 09 2013 at 4:44 PM Report abuse -1 rate up rate down Reply
jimconnellret

the only good thing about the tea party is........someone fill me in as I can't think of anything.

October 09 2013 at 4:43 PM Report abuse rate up rate down Reply
1 reply to jimconnellret's comment
pdbliz

THE MANE FOR THE ,,tea party is considered ,,,RACIST....... ARE YOU A RACIST...
TEA PARTY IS BETTER THAN A DEMOCRATE FORMED ,,KKK,,,
GOOGLE IT......CHECK IT OUT,,,DEMOCRATES STARTED IT IN TENNESSEE.

October 09 2013 at 8:17 PM Report abuse +2 rate up rate down Reply