The Five Dumbest Things on Wall Street This Week: July 3

Buy You a Beer

The brass at Anheuser-Busch(BUD Quote) appear to be guzzling a bit too much of their own suds lately.

How else could you explain management's decision to nix a nonbinding $65-a-share ($46.3 billion) bid from Europe's InBev and then roll out a cost savings plan that does nothing but fleece its own employees?

Well, that's exactly what the Bud bosses are up to. First, InBev's bid gets the thumbs-down last week, and then on Friday, Bud announces that it will cut $1 billion in costs, in part by paring its employee benefits for those lucky enough to remain employed at the iconic brewer. ...