Word: bordeaux
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Dates: during 1970-1979
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...flood of undiscriminating investment capital that flows toward art these days may yet produce a crisis analogous to the one that nearly sank the Bordeaux wine industry in the early 1970s. A surge of investment in Bordeaux vintages, to some extent by people who could not tell Medoc from camels' urine, shoved prices so high that traditional consumers of claret switched to Italian and other wines, thus tearing the bottom out of the market...
Cafe Florian's wine list is simple and basic--Bordeaux, Pink Chardonnez, Soave and Valpolicella are a few of their offerings. Wine goes for $7-$9 a bottle, but you can order half bottles as well...
...scarce, but wines from Beaujolais and the Côtes du Rhône, Burgundy's neighbors to the south, have enjoyed abundant harvests. As a result, the 1978 nouveaux are not only better than last year's but often cheaper." And there is good news from Bordeaux, which also had an excellent year. Growers there expect a price rise of only 4% for reds and 10% for whites, which will make Bordeaux a good value compared with those rarefied Burgundies...
Bergerac has doubled Revlon's advertising budget, to some $135 million this year, and developed a merchandising program called Retail Partners, under which Revlon designs displays and provides promotional materials for stores to encourage them to put on splashy shows. One for Bordeaux lipstick, nail polish and other cosmetics took a whole floor of Manhattan's Bonwit Teller; Revlon supplied books on wine and even old wine barrels to show off. When a Revlon product is a hit, Bergerac quickly follows it with others under the same name. Charlie, for example, has spread since 1974 from a fragrance...
...their own account. An American tourist exchanges $100 for marks at a bank in Frankfurt; the bank can hold the dollars or sell them for other currencies, as it chooses. More important, a French cooperative, for example, deposits in Credit Lyonnais $1 million received from U.S. importers for Bordeaux wine; the bank can sell those dollars for other currencies if it wishes. Banks have a cold-blooded view of the potentialities. Says Jean Bourg, head of the currency department at Credit Lyonnais: "We take advantage of small opportunities [for profits in currency trading] as they arise during...