Alder Yarrow writes in his blog Vinography about looming dark clouds in the wine industry in this article, "The Coming Carnage in the California Wine Industry", http://www.vinography.com/archives/20...
He predicts that much of the industry is on the verge of a financial meltdown that will wipe out many smaller, high-end wineries. He notes that sales of expensive wines (>$30) are already down %15, and the accumulating stocks of unsold, unsellable premium wines portend deep discounting that will precipitate a "bloodbath" when banks move in and seize the inventories that have been used as collateral in a highly leveraged business.
What do you think? Is this a chicken little story? Or is this a storm that is about to break? Or is it already breaking?
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