Despite the recession, we turned cash flow positive in 2009 and EBITDA positive in 2010 on $45 million in revenue. We closed our fiscal year in March 2011 with $1.9 million in cash flow on revenue of $56 million. Turnaround complete - Wine.com no longer struggling.
The festival couldn't prove that it has a viable business plan as it went through the grant process, and evaluators think it's too aggressive in its growth projections and hasn't secured the cash sponsorships it says it will, said Allison Simpson, vice president of marketing for Visit Napa Valley.
Today, there are more than 250 wineries in Israel producing 36 million bottles of table wine each year. Twelve percent is exported to other countries, mainly to the United States. In 2011, the country's exports totaled $26.7 million.
Stone has planted what he says is the highest-altitude commercial vineyard in the northern hemisphere, surpassing the Terror Creek Winery in Colorado, east of Grand Junction, which sits at 6,417 feet. The Stone Summit Winery in Big Bear Lake is at 6,750 feet.
Ugandans are starting to really like wine according to Allan Ntanda, owner of the Wine Garage, who opened the third branch of his franchise last Friday at Shumuk House (formerly Blacklines House) on Colville Street.
An Italian special agent has been tasked by the government to patrol bars and restaurants as part of a crackdown on fake Prosecco wine. Dubbed by Italian media "007 Prosecco", Andrea Battistella, 28, is paid to make sure that customers are served the original sparkling wine and not one of its cheaper imitations.
New and Old World wines have been slugging it out with increasing ferocity ever since the popping of corks from Australian, South African and South American wines became audible in Europe a few decades ago. But while super-serious "Sideways"-style debates about bouquet and "mouthfeel" are all very well, Europe still wins when it comes to variety and what, at risk of pretension, we should call "terroir."
In the UK and Ireland, Hattingley will roll out its Hattingley Valley Classic Cuvee 2010, which is a blend of the three grape varieties - Chardonnay, Pinot Noir and Pinot Meunier, made by winemaker Emma Rice.