TRIP REPORT

CNBC senior analyst Ron Insana interviews former FBI director John Brennan in the opening general session .

Desert Ridge for the four-day event .

Much on the mind of attendees , and on the lips of speakers and panelists , was uncertainty . Both economic and political . To the former , if the U . S . has financially recovered from Covid lows , as our record-high stock market would suggest , then why do so many consumers consider the economy poorly ? To the latter , it did not take long for our country ’ s impending , unprecedented presidential election to roil the conference atmosphere .

Opening speaker John Brennan , former CIA director , argued that U . S . democracy was at risk should former President Trump retake the White House . Several speakers in the audience pushed back against this claim , and suggested that President Biden ’ s party was more dismissive of democracy .

Regardless of one ’ s personal beliefs , certainly this was a scene emblematic of the deep political divides that define America in 2024 .

Brennan also expressed concerns about risks posed by Chinese and Russian aggression , lawlessness online and the raw power of artificial intelligence . Nobody in the audience spoke up to refute these concerns .

Unease remained a dominant theme throughout the desert conference . Robert Hall , CEO of Ole Smoky Distillery , was the first of many speakers who brought up the alarming rumor that the U . S . Federal Dietary Guidelines was considering declaring that “ No amount of alcohol is acceptable for a healthy lifestyle .”

“ Alcohol is under attack ,” Hall , who is also chairman of Responsibility . org , declared during the panel , Barrels to Boardrooms . “ This poses a risk to all of our businesses . We as an industry need to band together . . . and work with our government in whatever form it takes to fight back against this .”

Later in the panel , Jeremy Shepard , EVP USA and Canada Brown-Forman , brought up the rise of nonalcoholic brands moving into the alcoholic space . “ Major players like Coca-Cola and Pepsi have made statements publicly that they want to become total beverage players ,” Shepard said . “ There ’ s a lot of work and responsibility for all of us to do this the right way , because if we don ’ t do it that way , we all lose .”

Shepard pointed to the launch of Jack Daniel ’ s & Coca-Cola Ready-to-Drink in 2023 .

“ It didn ’ t come out in a red can or with just a Coca-Cola label all over it ,” he said . “ It was very particular on the part of both partners to make sure that the branding let consumers know that this product contained alcohol , and that it was not confused for a Coca-Cola brand product .”

Another pressing industry issue these days is the drumbeat message that consumers , especially younger generations , are drinking less . This was much debated during the panel , Alconomics 101 Proof .

“ Actually , there are more drinkers now than ever before ,”

6 StateWays • Fall 2024 www . stateways . com