Schlitz Poised to Make Comeback?

In the comments, Douglas asked how Schlitz came to fall from its heights in the 1950s and Maureen Ogle answered:

In the 1970s, the family decided it wanted heftier returns on its dividends and handed the company over to a trio of bean counters.

The bean counters slashed costs, and in the process, the beer went downhill. Fast.

Douglas sent in a story from his local Gainesville Sun indicating that the brand may be poised to make a PBR-style comeback:

After decades of dormancy, the beer is back.

Schlitz’ owner, Pabst Brewing Co., is recreating the old formula, using notes and interviews with old brew masters to concoct the pilsner again. The maker of another nostalgic favorite, Pabst Blue Ribbon, it hopes baby boomers will reach for the drink of their youth, otherwise known as “The Beer That Made Milwaukee Famous.”

"There’s still a lot of people who have very positive, residual memories about their experience. For many of them it was the first beer they drank and we wanted to give it back to those consumers.”

Apparently sales have picked up in Milwaukee recently, and market tests are underway elsewhere, but it remains to be seen whether Schlitz can capitalize on nostalgia the way PBR has.

UPDATE: Forbes now has a story up on Schlitz as well.