Word: glut
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...foreign films make so much as $10 million in U.S. theaters. Ask most Americans about foreign films and they'll say they don't go to the movies to read. (These are the same people addicted to the running ribbons of copy on the news channels and the glut of statistics flashed on the screen during sports events.) In a way, foreign films are back where they were 60 years ago. They are patronized by a small coterie of educated Americans, and by a significant slice of first- and second-generation foreigners: the Indian diaspora that still loves its Bollywood...
...also won the John Tudor Memorial Cup, given to the team’s most valuable player, at the annual year-end banquet. This season, with Daigneau lost to graduation, the Crimson finds itself in a nearly identical situation. Harvard has no starter with significant experience, and given the glut of important games early in the season, Donato has not ruled out the possibility of platooning two goalkeepers until a clear favorite emerges. “At the end of the day, just like with any other position, we want to give our team the best chance to win every...
...winemaking business that the world is awash in far too much of the stuff. In 2004, worldwide production hit its highest level in 20 years, almost 300 million hL, or 15% higher than the previous year. And it's not just producers like Jean Charles who are hurting. The glut is hitting producers everywhere, particularly in Australia, where a local success story has quickly soured. According to estimates by the Australian Wine and Brandy Corporation (AWBC), the government body that oversees the wine industry, the country now has surplus wine stocks that exceed an entire year of exports, and many...
...fruitier and smoother. But now he's 57 and looking for an easier life. "I'm not having fun any longer," he says. "The competition is growing and that scared me. This crisis will last. It's a structural one. Nobody will get out safe and sound." The wine glut's impact is worldwide. In California, big grape growers and some wineries have gone into bankruptcy, including the Legacy Estate Group that owned prestigious brands such as Arrowood, Byron and Freemark Abbey. (The group was sold last month to a rival producer, Kendall-Jackson.) In South Africa, grape prices have...
...established." He's now trying to spread Stormhoek's reputation through wine-loving bloggers in the U.K. to whom he's been sending out free bottles, in the hope that they'll post their tasting notes online. But South Africa, too, is now facing a squeeze. The global wine glut has caused a drop in grape prices, and producers had to scramble to deal with a 50% appreciation in the rand between 2002 and 2005 that pushed them out of the sector in which they initially made their name: cheap and cheerful supermarket wines for the U.K. That hurts...