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February 2009
Review of the Industry 2008 -- Outlook and Trends
by Cyril Penn
A little over a year ago wine business executives could sense a financial slowdown gradually coming. The "recession" wasn't official, but there was a sense that an economic downturn was imminent. Few could have imagined, though, that 2008 would bring the worst annual performance for Wall Street stocks since the Great Depression, a global credit crisis and a government-led bailout of the U.S. financial system. Between oil prices skyrocketing, home foreclosures soaring, record un...
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