This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Donations Save Bars, Brewers & Wikipedia

The first donation came in Dec. 16, with $5 to $200 donations following at a steady clip. Celebrities including Susan Sarandon and The Roots' drummer, Questlove, pitched in, while local businesses contributed thousands. Not long after the group made $2,000 from a fundraiser at the nearby Actors' Playhouse, the theater's owner, Lawrence Page, kicked in the rest to save the restaurant and formed a partnership with the owner. Fifteen jobs were saved. That's 15 that would have been added to the more than 7 million people who lost their jobs during the recession.

"It speaks volumes to the community in general, because people are just fed up," Kwubiri said. "Though we're coming out of the recession, people are still thinking 'If I can help someone else out, maybe someone can help me.' "

Though the Tea Cup's supporters followed the public television/National Public Radio model -- the same one Wikipedia used to take in more than $8 million during the most recent fund drive -- not all community financing is couched in altruism or benevolence. When the Kalmanovitz Charitable Foundation announced in November that it intended to sell Pabst and holdings that include the Schlitz, Old Style, Lone Star, Olympia, Stroh's, Ballantine, Piels and other labels for $300 million, two ad men saw the opportunity for a grand social experiment.

Brian Flatow, president of New York firm The Ad Store, and Michael Migliozzi of Forza Migliozzi devised a plan to purchase Pabst through a "crowd-sourcing" initiative that solicits $5 to $250,000 online donations through social-networking sites and its own modest Web site. Donors are promised shares in the company as well as either a bottle, case, quarter keg or half keg, depending on their donation. That Pabst's brewing is currently contracted out to the SABMiller (SAB)/ MolsonCoors (TAP - Get Report) joint venture MillerCoors is of seemingly little concern, as beer lovers' enthusiasm has pushed the effort to more than $131 million, or more than halfway, to its goal.
3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SAB $7.20 0.00%
BAC $14.11 0.43%
C $44.41 0.41%
DFS $55.23 0.73%
JPM $61.60 0.59%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs