Word: wined
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Dates: during 2000-2009
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...staff meal she ate at Chez Panisse, site of her dream job. "My meal is sort of like the edible sound track to my life," says Goin. "I chose Lang & Reed Cab Franc rather than some amazing million-dollar Burgundy, and I realize it's because it's the wine my husband and I fell in love over...
Like a lot of people, William Hill and Dick Wollack got caught up in the real estate 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...
...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...
...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 generations. So, by 2010, the U.S. will be drinking 3.8 billion bottles annually, making it the largest wine consumer in the world, predicts Silicon Valley Bank...
There are risks, of course, perhaps the biggest being agricultural. "Your harvest is only as good as God gives you," says Stevens. "Do you get two tons to the acre, or do you get five tons to the acre?" Competitive risk comes via foreign wine sales, which are gaining market share. They accounted for 29.4% of the U.S. wine sales in 2006, up from 27% in 2005, according to Silicon Valley Bank, although much of these gains were in cheaper wines...