Legend has it that when Frederick Miller brewed his first barrel of beer in Milwaukee in 1855, he spoke emphatically about "quality, uncompromising and unchanging." It became his slogan, his vision and his mission for Miller Brewing Co.

The "quality" arguably still remains. However, the "uncompromising" and "unchanging" tenets no longer apply.

SABMiller plc and Molson Coors Brewing Co. today announced that they have signed a letter of intent to combine their U.S. and Puerto Rico operations to create a larger company to compete against the world's largest brewer, Anheuser-Busch Inc.

Although officials from both Miller and Coors shared a stage and spoke of "surprisingly similar" corporate cultures this morning, this marriage has five key variables that will need to be decided in the next few months. The decisions will have a direct impact on Milwaukee.

1. The company's name. They're tentatively calling it MillerCoors. Putting Miller first may have been a bone that was thrown Milwaukee's way. After all, Coors seems to be calling most of the shots, so far. Pete Coors, vice chairman of Molson Coors, will serve as chairman of MillerCoors. Leo Kiely, current CEO of Molson Coors, will be the CEO of the joint venture. Miller's top executives, Graham MacKay and Tom Long, will take supportive roles.

Long-term, the name also could have an impact on the names of the baseball stadiums in Milwaukee (Miller Park) and Denver (Coors Field).

2. The company's headquarters. Golden, Colo., or Milwaukee? Malcolm Wyman, current chief financial officer of SABMiller, said the decision will be based upon the "best strategies and economic interests" of the company. Milwaukee might be in trouble here. Denver's a bigger city with a bigger airport. And as one of my colleagues in the newsroom pointed out, it seems unlikely to think that Pete Coors, the star of all of those commercials filmed in the Rocky Mountains, would agree to move to Milwaukee.

Pat O'Brien, executive director of the Milwaukee 7, says a collaborative effort, including Milwaukee's corporate leaders, Mayor Tom Barrett and Gov. Jim Doyle, will be made to put Milwaukee's best foot forward. "Obviously, it's a big priority. What we have to do now is find out what stage it's in and what criteria they will use," O'Brien said. "Headquarters create jobs in the region. There's a multiplier effect ... It all adds to prestige."

Barrett said today he will make a "full-court press" to convince the merged company that Milwaukee is its best headquarters option. Barrett said he already has discussed the issue with Doyle, Metropolitan Milwaukee Association of Commerce president Tim Sheehy and Greater Milwaukee Committee president Julia Taylor.

"Miller is a Milwaukee institution and has always been a great corporate citizen and employer. I'm going to do every thing I can to make sure that Miller keeps both its corporate headquarters and brewery jobs here ... When people think beer, they think Milwaukee," Barrett said.

Aside from Milwaukee's beer brand, Barrett said the city has many logistical advantages that would make it a preferable option to Denver, but he declined to be specific. "There are many, many advantages, and we'll be laying those out as we move forward." Barrett said.

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