The company flourished through the 1970s, being ranked as the No. 2 brewery in America as late as 1976. But problems with its production, specifically its attempt to cut costs in the brewing process by using a high-temperature fermentation, which produced a product that the public deemed inferior, combined with a crippling 1981 strike by workers at the Milwaukee plant, led to serious financial difficulties. On June 10, 1982, the Joseph Schlitz Brewing Co. was acquired by Stroh Brewery Company of Detroit, Michigan. The regular beer is still produced, though in relatively small quantities, by the Pabst Brewing Company, along with four malt liquors (Schlitz Malt Liquor, Schlitz Red Bull, Schlitz Bull Ice and Schlitz Very Smooth Lager).
I always got "Schlitz Malt Liquor" for some unknown reason!
I can hardly stand the taste of any domestic beer nowadays. I love Mexican beer, Japanese beer, European brews, and Ozzie beer. I even like Kenyan (Tusker) and Indian (Kingfisher). The only US brands I like are Sam Adams and Killians. My wife likes Bud light with lime.
Of course, nowadays, I only drink one or two, and in those days, I drank till I could not stand up.
I didn't know Pabst was still around. I haven't seen a PBR in years, and it's been even longer since I've run across a Red White and Blue.
Another American icon brought low by 1) corporate greed and misunderstanding of the market and 2) unions.