Episode #8 is an insider's view of the Henry Wine Group Board Meeting in the fall of 2007, when I was President & CEO.
While reviewing some sales data for several of our top-end California producers, I noticed a disturbing trend that alarmed me. When I opened the meeting, I said, "Gentlemen, I have noticed some significant slowing down of the sales for a number of our most expensive California wines, and I believe something is happening that we should be paying close attention to.
My comments were dismissed mainly by the board, which was composed chiefly of Republican-leaning businessmen. Their response was to comment that the economy was doing fine, especially on Wall Street.
I opened the next Board meeting in March of 2008 with the following comment.
"Gentlemen, I wish I had been wrong back in September, but it appears my intuition was correct". Like good Republicans, they all looked at their shoes and would not look me straight in the eye.
I explain in this snippet why the Wine Business is a Trailing Economic Indicator not a Leading Economic Indicator.
Take a listen.
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