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Crimson Wine to restate 3+ years of financial results after independent review of “unreliable” accounting errors

  Crimson Wine Group will be  restating “unreliable” financial results for three fiscal years ended December 31, 2017, 2018 and 2019 after an independent review is completed, according to the company’s SEC 8-K Report of Dec. 22, 2020   According to the 8-K,  the reviews “relate to the allocation of costs to bulk wine inventory, […]

Time Is Running Out For Prop 13 Transfers Of Property That Were Abolished by Prop 19

PROPOSITION 19: PROPERTY TAX AND ESTATE AND GIFT TAX ALERT By Robert M. Fanucci, J.D., Master of Laws (LL.M.) Taxation, New York University Gagen, McCoy, McMahon, Koss, Markowitz & Fanucci   Although the passage of Proposition 19 creates some limited benefits by expanding property tax “portability” benefits that permit taxpayers over 55, victims of natural […]

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Amorim TCA Claims: Where’s the proof?

Grand claims of a “magic bullet” require data to be credible otherwise, it’s just more marketing hype: Amorim Announces Enhancements to Eliminate Cork Taint.   Amorim’s claims come with no proof.   Where is the testing data from an independent third party that has tasted “n” number of corks which they were allowed to randomly […]

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Beckstoffer Vineyards restructures family’s farming & vineyard operations

NEWS RELEASE – December 7, 2020 Andy Beckstoffer of Beckstoffer Vineyards today announced the restructuring of his family’s farming and vineyard operations, separating the farming operations from vineyard ownership. Beckstoffer Vineyards will continue to own all vineyards under the family trust.   A new Corporation, Beckstoffer Vineyards Farming Services Company, will be formed to operate […]

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Constellation & Gallo sign FTC agreement to allow $1.03 billion asset deal

  CONSTELLATION BRANDS AND E. & J. GALLO SIGN AGREEMENT WITH FEDERAL TRADE COMMISSION STAFF RELATING TO CONSENT ORDER ON PENDING TRANSACTION; CONSTELLATION PROVIDES BUSINESS UPDATE FOR FISCAL 2021   VICTOR, N.Y., Nov. 9, 2020 – Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it and E. & […]

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Former Treasury Wine Estates CEO to take helm of Ste. Michelle Wine Estates

NEWS RELEASE Ste. Michelle Wine Estates October 28, 2020   WOODINVILLE, Wash. – Ste. Michelle Wine Estates announces the retirement of Jim Mortensen, President and CEO, effective November 1, 2020.   “The opportunity to work at Ste. Michelle Wine Estates was a wonderful privilege. I am immensely proud of the work this organization has accomplished,” […]

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Saving Venge Vineyards, in the owner’s own words and photos

The Glass Fire in Northern Napa and Sonoma Valleys is contained now and headed for the record books — even as Red Flag Fire Warnings are currently extended because of possible new dangers from low humidity and new Diablo winds — hot, dry,  how howling gusts out of the Northeast sometimes topping 90 mph at […]

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Owner of Copa di Vino comments on Shark Tank wine scammer

  James Martin, owner, CEO and Founder of Copa di Vino, emailed Wine Industry Insight a statement on the Shark Tank wine scammer:   “Joseph Falcone did not pitch Copa di Vino on Shark Tank, nor was he ever an investor in the product. I was the only person to appear on the show on […]

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Napa/Sonoma #Glassfire Resources & News Links

Note: This page is being updated as new links are found. Please email WII Editor Lewis Perdue with relevant, informative Twitter and other links to include.   Real-Time Data National Interagency Fire Center (best overall map for updated fire coverage.) Sonoma County Evacuation Zone Map Napa County Evacuation Zone Map North Bay Web Cameras Wind […]

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Wine up 17.9% in off-premise channels vs same week 2019. Table wine dollars grew by 14.0%, outpaced by sparkling which was up 33.3%

Unless otherwise noted, all trends below are for Nielsen off premise channels for the week ending 9/05/20 compared to the same week in 2019.  We continue to remind our readers that we measure sales in specific off premise channels, and that the impact of the health crisis on sales is uneven across companies in the […]

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