A San Francisco cooperative is selling futures in a new wine called “Bailout,” inspired by the economic crisis. Crushpad, a custom crush facility, will sell the Napa Valley Cabernet Sauvignon at $39 per bottle. But there’s a twist, for every 100-point drop in the Dow Jones from the date of purchase to the projected bottling date of 14 August 2009, the final price will be discounted $2 per bottle. If the Dow is higher on the bottling date, the price is still $39 a bottle, making Bailout futures a minor hedge on the economy. Only 500 cases will be produced. Crushpad is doing this for fun and exposure, but it may be instructive for high-end Bordeaux winemakers who refuse to lower their exorbitant 2008 futures prices given the current environment. According to those in the wine trade, Bordeaux must lower it’s prices by 50% or the 2008 en primeur campaign could be a disaster. Crushpad is an urban winemaking facility that enables budding entrepreneurs to make their own wine with the expert help of the staff.



This is a post from: The Wine Cellar Blog

Schramsberg Vineyards in the Napa Valley makes sparkling wine that many believe is the rival of French Champagne. It has been served at White House dinners, and famously in 1972 President Richard Nixon took Schramsberg’s Blanc de Blancs to China for the “Toast to Peace” dinner with Premier Zhou Enlai. Unfortunately for everyone, the winery is now embroiled in a family feud that threatens to tear apart the wine dynasty. Considering the winery’s historic connection to China, from its caves, which were hand-dug by Chinese immigrant laborers in 1880, to President Nixon in 1972, perhaps the Chinese can send some wine to help settle the dispute (and I don’t mean sake). Labeled by some as the “new Chile” China is the sixth largest wine-producing country in the world.



This is a post from: The Wine Cellar Blog