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Wall Street Drowns Its Sorrows

Source: Financial Times

At the 21 Club, a longtime redoubt of corporate chieftains and big names, alcohol sales are up 9 per cent from last year, and businessmen can be seen drinking $14-a-glass cocktails as early as 3pm on a weekday.

If you believe that alcohol is a recession-proof business, take a look at Corby Distilleries (CDL.A on TSX), or [[DEO]] Diageo, the largest multinational beer, wine and spirits company in the world.

[[MO]] Altria (Philip Morris) also goes well with these. Where there’s drinking, there’s smoking.