Lee,
Actually, the new Schlitz is quite good. As mentioned, Schlitz was one of the top selling brands in the early 1970s and the company was run by people who knew beer. The company president, Robert Uhlilen died in the mid-1970s and was replaced by a bean counter. He changed the brewing process to speed things up and changed to cheaper packaging to save money. The beer ended up cloudy and the bottles looked dusty. People didn't like it Then management got investigated by the Feds for shadey business practices. They had some labor strife as well and finally they were purchased by Stroh's in 1981 and promptly closed down. This company employed something like 10-15,000 people in the city was closed because of bad management (sounds familiar).
Anyhow, the good news in all of this is that the brand and "recipe" survived. In 2008, it was bought by Pabst and they brought back the 1960s brewing process. Of course Pabst doesn't make beer anymore either, so they contracted with Miller in Milwaukee (now Miller-Coors) to produce it. The result is a nice lager with a really good favor. Its not my favorite (that would be Alaska Amber) but it is quite good.
Best wishes, Dave