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...frenzy. But you won't find them anywhere near a Las Vegas condo. Instead, their company, Premier Pacific Vineyards, has been snapping up land in prime wine-growing areas of California, Oregon and Washington since 2002. Hill and Wollack are developing vineyards that produce high-end grapes used in premium wines. The play? Bundle their vineyards into a real estate investment trust (REIT), and take it public...

Author: /time Magazine | Title: Fruit of the Vine | 10/18/2007 | See Source »

...seems counterintuitive, what with France, Italy, Spain and Australia suffering wine gluts over the past few years and the E.U. contemplating yanking out vines. Even California's Central Valley has seen 100,000 acres culled in the past five years. But the premium end of that market--wines costing $25 a bottle and up--is on a tear, with sales growth averaging more than 30% over the past three years. Bill Stevens, wine-division manager at Silicon Valley Bank, expects pricey wine to continue to grow at a double-digit pace, with grape shortages in all premium areas except Merlot...

Author: /time Magazine | Title: Fruit of the Vine | 10/18/2007 | See Source »

...business, purchasing at least three vineyards, all focusing on upscale grapes. Chief executive David Brain believes demographics will drive that sector for the next 10 to 15 years, and he expects average annual returns of about 10%. The demand has pushed the price per acre in Napa Valley's premium vineyards to between $200,000 and $300,000, up from between $125,000 and $180,000 in 2002, according to Tony Correia, president of Correia-Xavier Inc., a property appraiser in Fresno, Calif. Flush boomers are fueling demand, but their kids are guzzling wine at twice the rate of previous...

Author: /time Magazine | Title: Fruit of the Vine | 10/18/2007 | See Source »

...don’t wish such a natural disaster on anyone, nor a costly insurance premium hike. But I’m beginning to think that that’s what it will take for Americans to internalize in their hearts, minds, and wallets—where it really counts—that global warming is a real process, driving freakish, real events. I dare say, that would make them demand change and act to bring it about...

Author: By Jonathan B. Steinman | Title: Nature's Game of Dominoes | 10/12/2007 | See Source »

...pleasure out of it,” she says. For Pollitt, the movement towards physical perfection is connected to our current capitalist moment. “The pressure to be 24/7 hot is very intense and very stressful,” she says. “There is a premium for perfection and no one is perfect.” Even though feminism isn’t an explicit theme of “Learning to Drive,” Pollitt defends the word. “If you ask a non-feminist what they stand for, it will turn...

Author: By Ada Pema, CONTRIBUTING WRITER | Title: Katha Pollitt Gets Personal | 10/5/2007 | See Source »

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