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Andy Serwer Commentary:
Street Life by Andy Serwer Column archive
Serwer: Taking a tequila shot
Impending deal for Mexican liquor maker offers an interesting opportunity.
Market insight from Fortune Editor-at-Large Andy Serwer

NEW YORK (Fortune) -- Hey isn't it interesting that all's quiet on the gasoline front. Paid $2.98 in Connecticut this week, and that's cheap. See how long that lasts, Ernesto!

BROWN FORMAN: It's recession proof (pun intended), it tastes good and it has a calming influence on me. The venerable liquor company out of Louisville that owns Jack Daniels and Southern Comfort (as well as Finlandia Vodka) is set to make a major tequila purchase ... which of course is one of your fastest growing categories in the U.S. It is said to be buying Herradura for $875 million. (Company is owned by the Roma family of Guadalajara. It also makes el Jimador.) Now BFB (Charts) is an expensive stock ... but over time this one works very well. Look at the chart! Ole!

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JAPAN: While you were out, Asian markets have been tanking. Japanese market is now back where it traded on August 11. Why? Ehhhh.... Seems like investors there are pausing before some key econ numbers are released on Thursday. That and a lot of foreign investors (as in U.S. hedge funds) made some serious coin there over the past year or so. But I'm not so sure the Japanese recovery is over. (See front page story in Wall Street Journal today...) Bet on the Nikkei versus the Dow over the next two years....You can buy the two ETFs: EWJ (Charts) or EPP (Charts). Or there are also 231 Japanese mutual funds... check 'em out!

FOSTER WHEELER: Pride of Clinton, NJ. It's an engineering and construction firm. Also has a power business. I just liked this little nugget: Company got a contract to to do work on Woodside Energy's Pluto liquefied natural gas project in Australia. Wonder if they demoted this Pluto to a dwarf planet too ... but I digress. FWLT (Charts) did a reverse stock split in late '04. And it seems to have gotten the stock back on track. Business is in good place right now.

Loose Change: How hot is "Ain't No Other Man"? Smokin'! That's how hot!...... Great to be back from vacation! (Sort of...).... Finally saw Whale Rider over vacation, and you know what, it was excellent!....How was Little Miss Sunshine? Ashley our super producer loved it! She cried. Didn't she Graham?

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E-mail Andy Serwer at serwer@fortunemail.com

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