WEBVTT - Nancy Gosling on Defending 'Dark & Stormy' Trademark (Audio)

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<v Speaker 1>Broadcasting live to New York, Bloomberg eleventh, bo to Washington,

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<v Speaker 1>d C. Bloomber to Boston, Bloomberg twelve hundred to San Francisco,

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<v Speaker 1>Bloomberg nine to the countries, US Exam General one nineteen

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<v Speaker 1>and around the globe the Bloomberg Radiolus and Bloomberg dot Com.

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<v Speaker 1>This is taking Stock. I'm Kathleen Hayes along with Pim Fox.

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<v Speaker 1>We're broadcasting live today from Elbow Beach, Bermuda and ocean

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<v Speaker 1>front enclave of classic style and contemporary luxury. Pim how

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<v Speaker 1>about a drink so special it's got a trademark, the

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<v Speaker 1>trademark drink, yes, sir, and a very special rum. All right,

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<v Speaker 1>I have a feeling I know what it is, but

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<v Speaker 1>I don't want to give it away, but I will

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<v Speaker 1>just say that this has to do also with the

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<v Speaker 1>story of a two hundred plus year old family business.

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<v Speaker 1>We're going to talk more about that we are here

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<v Speaker 1>in Bermuda, but right now let's go to Charlie Pellett

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<v Speaker 1>and the Bloomberg News from Fort bloom Birt Business flathand

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<v Speaker 1>I thank you him, thank you Kathleen Stalks. At the

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<v Speaker 1>worst level of the day right now, A one hundred

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<v Speaker 1>seventy seven point drop for the down Jones industrial average

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<v Speaker 1>down one percent. We are brought to you by the

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<v Speaker 1>American Arbitration Association. Business disputes are inevitable, resolve faster with

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<v Speaker 1>the American Arbitration Association, the global leader in alternative dispute

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<v Speaker 1>resolution for over eighty five years. Learn more at a

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<v Speaker 1>d r dot org. Stocks are slipping amid lackluster results

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<v Speaker 1>from large retailers. One prime example Nordstrom. It is downcent

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<v Speaker 1>after disappointing earnings. Apple trading little changed right now down

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<v Speaker 1>one set. Apple is investing a billion dollars, indeed, giving

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<v Speaker 1>the Chinese ride hailing startup a powerful ally and dealing

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<v Speaker 1>a blow to Uber Technologies because it tries to build

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<v Speaker 1>its business in the country. Tim Higgins has covered cars.

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<v Speaker 1>He's also covered Apple for Bloomberg News. He was interview

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<v Speaker 1>this morning on Bloomberg Television. Well, right now, in the

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<v Speaker 1>tech and automotive space, there's a is a huge race

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<v Speaker 1>and develop the future transportation, and so I tie up

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<v Speaker 1>with a company like DD could help Apple down the

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<v Speaker 1>road if in fact it's going to do its own

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<v Speaker 1>driverless car. There's a developing theory within the driverless car

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<v Speaker 1>a space that the way this technology is going to

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<v Speaker 1>really hit the masses is through cars hailing services such

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<v Speaker 1>as Uber, such as d D such as Lift. That

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<v Speaker 1>would be any investment theory behind GM, Steak and Lift.

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<v Speaker 1>Earlier this year, they see it it as you're not

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<v Speaker 1>gonna buy this technology, You're gonna hail it to your

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<v Speaker 1>house or wherever you need to go. Gold trading harder

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<v Speaker 1>by three fifty to twelve seventy four, an advance of

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<v Speaker 1>three tenths of one to thirty two on Wall Street.

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<v Speaker 1>Now we'll look at other news from around the world.

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<v Speaker 1>Thank you, Charlie from the Bloomberg News Room. I'm Rami

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<v Speaker 1>in aescent cio. This news update is brought to you

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<v Speaker 1>Secretary j Johnson says there will be long wait times

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<v Speaker 1>for flights this summer, but he says the t s

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<v Speaker 1>A is doing what it can to reduce delays without

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<v Speaker 1>sacrificing security. We have developed a tanpoint plan that will

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<v Speaker 1>keep passengers moving and most importantly, keep passengers safe. Johnson

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<v Speaker 1>says that plan includes more transportation safety officers, more overtime

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<v Speaker 1>pay for those officers, more training and planning with the

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<v Speaker 1>nation's busiest airports. Donald Trump says he is not going

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<v Speaker 1>to publicize his tax returns until an audit of his

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<v Speaker 1>businesses has been completed, but speaking to ABC News, Trump

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<v Speaker 1>said he fights hard to pay the lowest tax rate

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<v Speaker 1>possible because he thinks the government is wasting his money.

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<v Speaker 1>They spent four trillion dollars in the Middle East and

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<v Speaker 1>we can't fix a road or a bridge. And I

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<v Speaker 1>fight very hard. I considered an expense. When ABC's George

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<v Speaker 1>Stephanopolis asked Trump what his tax rate is, the presumptive

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<v Speaker 1>Republican nominee replied, none of your business. And the world's

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<v Speaker 1>oldest per person has died in New York. Susannah Mushad

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<v Speaker 1>Jones was one hundred sixteen years old and died at

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<v Speaker 1>a Brooklyn public housing facility for seniors. Jones was born

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<v Speaker 1>in Alabama in eighteen ninety nine. Her death leaves a

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<v Speaker 1>one hundred sixteen year old woman from Italy as the

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<v Speaker 1>world's oldest person and the last living person born in

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<v Speaker 1>the eighteen hundreds. Global News twenty four hours a day,

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<v Speaker 1>powered by our twenty journalists in more than one hundred

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<v Speaker 1>fifty news bureaus around the world. From the Bloomberg Newsroom,

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<v Speaker 1>I'm Rainy and Essentio Charlie, and we thank you and

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<v Speaker 1>again recapping stocks at or near session, Low's SMP down

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<v Speaker 1>seventeen points to two thousand forty six, a drop of

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<v Speaker 1>eight tenths of one percent. I'm Charlie Palatine. That's a

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<v Speaker 1>bloom Bread business flash. Welcome back to taking On. Kathleen

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<v Speaker 1>Hayes along with PM Fox were broadcasting live from Elbow Beach, Bermuda.

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<v Speaker 1>This is a gorgeous ocean front enclave, classic style, contemporary luxury,

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<v Speaker 1>great food and great drinks, which brings us in a

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<v Speaker 1>certain sense to our very special guest joining us now

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<v Speaker 1>here in Bermuda. Uh the seventh generation to run a

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<v Speaker 1>two d old company, her daughter eighth generation taking over

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<v Speaker 1>as marketing manager. We're talking about Nancy Gosling. She's president

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<v Speaker 1>and CEO of Gosling's group of companies, and her daughter

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<v Speaker 1>Victoria Esposito, who has just taken over in the last

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<v Speaker 1>couple of years as marketing manager for this world renowned

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<v Speaker 1>rum company. Ladies, welcome you both to the show. Thank

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<v Speaker 1>you so. Nancy, first of all, tell people the history

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<v Speaker 1>of this company. You're over two hundred years old. Started

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<v Speaker 1>out when James Gosling to England in eighteen six, honestly

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<v Speaker 1>to America, but stopped Bermuda and started this company. Yes, well,

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<v Speaker 1>he actually started the sailing vessel and they were becalmed

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<v Speaker 1>and the charter round out. They had over ten thousand

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<v Speaker 1>pounds worth of lines and spirits on board then, which

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<v Speaker 1>is a lot of alcohol in eighteen o six. It's

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<v Speaker 1>oh anniversity on to twenty when they landed and uh,

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<v Speaker 1>they found a business here with the British Navy and

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<v Speaker 1>set up shop in St. George's and kind of never

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<v Speaker 1>looked back. Victoria, I wonder if you could comment on this. Uh,

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<v Speaker 1>seems to be a craze almost in the world of

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<v Speaker 1>brown spirits. Everyone seems to want a brown spirit of

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<v Speaker 1>some kind, and those that have it want to maybe

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<v Speaker 1>keep it exclusive. For example, it was the story today

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<v Speaker 1>about brown Form and they make Jack Daniels Tennessee whiskey

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<v Speaker 1>that they may be looking to sell the Finland via

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<v Speaker 1>uh you know brand Have you noticed that because you

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<v Speaker 1>have those different color grazes. Yea, So I mean liquor

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<v Speaker 1>trends always changing, which makes an interesting business. Persis Bermuda

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<v Speaker 1>as a market is interesting because we are so close

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<v Speaker 1>to the States, so we get a lot of those

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<v Speaker 1>trends reflecting here in Bermuda. And we have noticed a

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<v Speaker 1>change to brown spirits in the past two years, which

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<v Speaker 1>is a great thing for our rum because we are

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<v Speaker 1>always trying to keep up with a recent trends. But

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<v Speaker 1>at the same time, the white spirits they continue to

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<v Speaker 1>thrive like they do. But it's really interesting even to

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<v Speaker 1>see a lot of the old fashioned cocktails coming back,

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<v Speaker 1>which go great with our rum and our old rum

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<v Speaker 1>which we always push well. And I I the gosling

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<v Speaker 1>that I first got acquainted with has a very rich,

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<v Speaker 1>almost lacessey kind of flavor. And yes, you have a

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<v Speaker 1>lot of when you've got a lot of the dark

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<v Speaker 1>and stormy. I don't know if a lot of people

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<v Speaker 1>realize that they're pathic formuta, if they don't drink them

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<v Speaker 1>back in the States, that it is a trade mark drink.

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<v Speaker 1>And if you don't use glassing room, somebody's gonna come

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<v Speaker 1>knock it on your door. It's a simple recipe. It's

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<v Speaker 1>Gosling's black Field Rum and ginger beer. Uh the ginger

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<v Speaker 1>beer part isn't trademark, but we now have Gosling's Ginger Beer,

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<v Speaker 1>which is selling very well worldwide at the moment, and

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<v Speaker 1>we design that who goes specifically with our room. It's

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<v Speaker 1>the perfect match for a dark story. But a lot

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<v Speaker 1>of people aren't aware that it is a trademark, So

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<v Speaker 1>we spend a bit of time defending our trademark. But

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<v Speaker 1>it's worth the defense. Can you give us a little

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<v Speaker 1>sort of story about where the sugar cane is grown

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<v Speaker 1>and how it ends up tasting so uh so lovely

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<v Speaker 1>in a in a Gostling concoction. No, alright, those the

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<v Speaker 1>sources and the blending is what makes us unique. But

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<v Speaker 1>I mean people know that that the dark Rum comes

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<v Speaker 1>from sugarcane which goes into molasses which is then aged

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<v Speaker 1>and barrels, and uh, we source from different locations, but

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<v Speaker 1>that's very important to your The proprietary aspect of that

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<v Speaker 1>is something that you hold very close absolutely. How much

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<v Speaker 1>is the trademark on the drink of marketing strategy and

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<v Speaker 1>how and or how important is it that people can

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<v Speaker 1>only use scuffling room in a dark and stormy Technically speaking, anyway,

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<v Speaker 1>it's very important because as the years go on, more

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<v Speaker 1>and more spirits keep being introduced into the market. So

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<v Speaker 1>it's very important for us to defend that certain cocktail,

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<v Speaker 1>especially since, especially on the East Coast of the United States,

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<v Speaker 1>the Dark and Stormy is becoming very well known and

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<v Speaker 1>very popular. So it's important to us to defend that

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<v Speaker 1>and make sure that people know that it is to

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<v Speaker 1>be made with gausing black Seal rum. Now why is

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<v Speaker 1>it called black seal Because when we first started battoling rum,

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<v Speaker 1>it was difficult to obtain bottles and we didn't have

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<v Speaker 1>a sophisticated bottling line or anything like that. We used

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<v Speaker 1>to reuse old champagne bottles. We used to sterilize and

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<v Speaker 1>and that's what we bottled our products in. And we

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<v Speaker 1>had several types of products. They were bottled in old

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<v Speaker 1>champagne bottles and then they were sealed with ceiling wabs,

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<v Speaker 1>and we had a red seal, a blue seal, a

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<v Speaker 1>black seal, and the black Seal rum. That blend was

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<v Speaker 1>the most popular. And when we were finally able to

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<v Speaker 1>obtain bottles and do our own packaging and labeling. It

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<v Speaker 1>was my uncle actually who decided that the black ceiling

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<v Speaker 1>wax should turn into this seal. He made that and

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<v Speaker 1>that's why our old rum is packaged like it is

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<v Speaker 1>now in a Champagne type bottle with ceiling black ceiling

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<v Speaker 1>wax on it. It's it's supposed to replicate the original rum. Well,

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<v Speaker 1>it certainly creates the original feeling. Thank you very much

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<v Speaker 1>for spending time with us. Nancy Goslings, the President, chief

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<v Speaker 1>executive Gosling's Group Companies, and Victoria Esposito, the marketing manager

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<v Speaker 1>of a Gosling's Group of companies. You're listening to Taking

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<v Speaker 1>Stock on Bloomberg Radio. Coming up on our special live

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<v Speaker 1>broadcast from Elbow Beach, Bermuda, the premiere of This Island

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<v Speaker 1>State the Arnago Michael Dunkley on the economy and what's

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<v Speaker 1>driving business now. This is taking Stop