1 00:00:02,880 --> 00:00:07,200 Speaker 1: Broadcasting live to New York, Bloomberg eleventh bo to Washington, 2 00:00:07,280 --> 00:00:12,280 Speaker 1: d C. Bloomber to Boston, Bloomberg twelve hundred to San Francisco, 3 00:00:12,400 --> 00:00:15,560 Speaker 1: Bloomberg nine sixty to the countries. Who is a jam 4 00:00:15,680 --> 00:00:19,079 Speaker 1: General one nine and around the globe the Bloomberg Radio 5 00:00:19,160 --> 00:00:22,720 Speaker 1: plus NAP and Bloomberg dot Com. This is taking stock, 6 00:00:23,239 --> 00:00:26,840 Speaker 1: coming upon taking stockward to take stock of the wine industry. 7 00:00:27,480 --> 00:00:31,680 Speaker 1: Unfavorable weather in Napa Valley has caused the harvest to 8 00:00:31,720 --> 00:00:36,880 Speaker 1: decline nearly compared to two thousand and fifteen. We're gonna 9 00:00:36,880 --> 00:00:40,800 Speaker 1: find out what that means for Napa wine producers. But 10 00:00:41,000 --> 00:00:44,320 Speaker 1: we're talking to a woman who can you imagine anyone 11 00:00:44,400 --> 00:00:47,320 Speaker 1: hundred from Robert Parker on the rating for your wine? 12 00:00:47,360 --> 00:00:49,360 Speaker 1: I want to taste that cabernet. We're gonna taste of that. 13 00:00:49,600 --> 00:00:51,600 Speaker 1: Coming up first, we're going to Charlie Pellet in the 14 00:00:51,640 --> 00:00:54,440 Speaker 1: Bloomberg news room for a Bloomberg Business Flash. And thank 15 00:00:54,440 --> 00:00:56,640 Speaker 1: you very much, Kathleen, Thank you, Phim. We are on 16 00:00:56,760 --> 00:00:59,360 Speaker 1: track for a record with the doll the SMB nez 17 00:00:59,440 --> 00:01:03,840 Speaker 1: back All Advancing SMP five hundred index now at seven 18 00:01:03,920 --> 00:01:06,959 Speaker 1: it is up thirty points a gain of one point 19 00:01:07,000 --> 00:01:10,760 Speaker 1: four percent. The SMP five hundred index trading above it's 20 00:01:10,840 --> 00:01:16,280 Speaker 1: made two thousand fifteen record clothes. June's strong jobs report 21 00:01:16,400 --> 00:01:19,360 Speaker 1: probably will not change the Fed's decision on when to 22 00:01:19,440 --> 00:01:22,640 Speaker 1: raise interest rates. That's according to Bill Gross of Janice 23 00:01:22,720 --> 00:01:26,480 Speaker 1: Capital Group, who's interviewed this morning on Bloomberg Surveillance. And 24 00:01:26,600 --> 00:01:28,480 Speaker 1: you know, I think the Feds stays where it is. 25 00:01:28,560 --> 00:01:31,679 Speaker 1: They they've wanted to raise interest rates, they did it once. 26 00:01:31,800 --> 00:01:36,040 Speaker 1: I think they want to have this believe that they'll 27 00:01:36,120 --> 00:01:39,520 Speaker 1: raise several times and therefore have a pretty positive meal curve, 28 00:01:39,600 --> 00:01:42,600 Speaker 1: which will help banks and insurance companies spent. For the 29 00:01:42,640 --> 00:01:46,120 Speaker 1: most part, I don't think this changes much the labor departments. 30 00:01:46,160 --> 00:01:49,480 Speaker 1: That employers added two hundred eighty seven thousand jobs, far 31 00:01:49,600 --> 00:01:53,160 Speaker 1: more than economists surveyed by Bloomberg were expecting. The jobless 32 00:01:53,240 --> 00:01:56,120 Speaker 1: rate did rise to four point nine percent. Is more 33 00:01:56,120 --> 00:02:01,160 Speaker 1: people enter the labor force. Wages advanced less than projected. 34 00:02:02,200 --> 00:02:03,840 Speaker 1: Let's take a look at the numbers here. We've got 35 00:02:03,840 --> 00:02:06,120 Speaker 1: the SMP up thirty at twenty one twenty eight, a 36 00:02:06,120 --> 00:02:08,640 Speaker 1: gain of one point four percent. Down dust reels up 37 00:02:08,680 --> 00:02:12,120 Speaker 1: two hundred forty one points to eighteen thousand, one hundred 38 00:02:12,200 --> 00:02:15,200 Speaker 1: thirty seven. Again there of one point four percent. Navs 39 00:02:15,200 --> 00:02:18,600 Speaker 1: stack picking up seventy five points to forty nine fifty two, 40 00:02:18,600 --> 00:02:21,400 Speaker 1: a gain of one and a half percent. The tenure 41 00:02:21,440 --> 00:02:24,640 Speaker 1: up six thirty seconds. Zeal now one point three six percent, 42 00:02:25,080 --> 00:02:27,680 Speaker 1: Gold of a dollar twenty the ounce advancing point one 43 00:02:27,720 --> 00:02:32,080 Speaker 1: percent to thirteen sixty three. West Texas intermediate crude is 44 00:02:32,120 --> 00:02:36,360 Speaker 1: now at forty five dollars and fourteen cents a barrel. 45 00:02:37,120 --> 00:02:39,600 Speaker 1: It is three thirty two on Wall Street. Now, let's 46 00:02:39,639 --> 00:02:41,760 Speaker 1: take a look at other news from around the world 47 00:02:41,880 --> 00:02:46,959 Speaker 1: on Bloomberg Radio. Thank you, Charlie from the Bloomberg News Room. 48 00:02:46,960 --> 00:02:50,079 Speaker 1: I'm Chill Schneider. U S. Attorney General Loretta lynch says 49 00:02:50,120 --> 00:02:52,800 Speaker 1: the nation mourns for all those killed in shooting this 50 00:02:52,880 --> 00:02:55,840 Speaker 1: past week. She spoke at the Justice Department this morning. 51 00:02:56,280 --> 00:03:00,720 Speaker 1: Everything we must remind ourselves that we're all American, and 52 00:03:00,760 --> 00:03:03,959 Speaker 1: that as Americans, we share not just a common land, 53 00:03:04,400 --> 00:03:07,320 Speaker 1: but a common life, not just common goals, but a 54 00:03:07,400 --> 00:03:11,880 Speaker 1: common heart and soul. President Obama has ordered all American 55 00:03:11,880 --> 00:03:14,600 Speaker 1: flags on federal grounds to be flown at half staff 56 00:03:14,840 --> 00:03:17,639 Speaker 1: in honor of the five Dallas police officers gunned down 57 00:03:17,760 --> 00:03:20,680 Speaker 1: last night. Mr Obama is in more Saw, Poland, where 58 00:03:20,720 --> 00:03:26,000 Speaker 1: he spoke about the attacks. We need of those officers 59 00:03:26,000 --> 00:03:29,840 Speaker 1: who do their job each and every day, protecting us 60 00:03:29,880 --> 00:03:35,000 Speaker 1: and protecting our communities. Today is a wrenching reminder of 61 00:03:35,040 --> 00:03:39,000 Speaker 1: the sacrifices that they make for US. President Obama called 62 00:03:39,000 --> 00:03:42,360 Speaker 1: the attack vicious and calculated. A suspect in last night's 63 00:03:42,400 --> 00:03:46,040 Speaker 1: killings has been identified, according to multiple media reports. He 64 00:03:46,160 --> 00:03:49,920 Speaker 1: is twenty five year old Micah Xavier Johnson. Johnson reportedly 65 00:03:49,920 --> 00:03:53,040 Speaker 1: served in the Army Reserve as a carpentry and masonry specialist. 66 00:03:53,320 --> 00:03:55,880 Speaker 1: He was killed by an explosive strapped to a police 67 00:03:55,960 --> 00:03:59,240 Speaker 1: robot after hours of negotiating with police. The New York 68 00:03:59,280 --> 00:04:02,320 Speaker 1: Times reports he appears to be the lone gunman. However, 69 00:04:02,400 --> 00:04:06,160 Speaker 1: three other suspects are being detained by police. The NYPD 70 00:04:06,280 --> 00:04:08,560 Speaker 1: is stepping up security for its officers in the wake 71 00:04:08,600 --> 00:04:11,520 Speaker 1: of the Dallas attack. The nation's largest police department said 72 00:04:11,560 --> 00:04:16,000 Speaker 1: today it's using additional footposts and other measures to protect precincts. 73 00:04:16,240 --> 00:04:18,720 Speaker 1: Officers are also being worn to remain vigilant and to 74 00:04:18,800 --> 00:04:21,960 Speaker 1: patrol in pairs. Global News twenty four hours a day, 75 00:04:22,080 --> 00:04:25,800 Speaker 1: powered by more than journalists and analysts in more than 76 00:04:25,839 --> 00:04:30,040 Speaker 1: one twenty countries. From the Bloomberg newsroom, I'm Jil Schneider, Charlie, 77 00:04:30,520 --> 00:04:32,720 Speaker 1: and we thank you and again recapping S and P 78 00:04:32,920 --> 00:04:36,599 Speaker 1: five hundred index up twenty nine points to a gain 79 00:04:36,680 --> 00:04:40,120 Speaker 1: of one point four percent. I'm Charlie Palatin. That's a 80 00:04:40,160 --> 00:04:46,120 Speaker 1: Bluebird business flash. Bloom were taking stock the lux life 81 00:04:46,120 --> 00:04:50,280 Speaker 1: goal Jewls. I claimed properties and valuable nature. Now that 82 00:04:50,360 --> 00:04:53,760 Speaker 1: you live in that house, can I be your financial advisor? 83 00:04:53,960 --> 00:04:57,240 Speaker 1: It's good to be king. I thought of your right 84 00:04:57,880 --> 00:05:00,440 Speaker 1: and I've right out in. Remember how much I wanted 85 00:05:00,440 --> 00:05:04,240 Speaker 1: a big backyard with Grecian statue shaped hedges and three 86 00:05:04,279 --> 00:05:07,840 Speaker 1: swimming cold well, I got that to Bloomberg taking Stock 87 00:05:08,040 --> 00:05:14,040 Speaker 1: the Lucks Life on Bloomberg Radio. A perfect score worth 88 00:05:14,120 --> 00:05:17,839 Speaker 1: more than gold, it seems maybe worth platinum. Were very 89 00:05:17,839 --> 00:05:21,919 Speaker 1: happy to welcome to taking Stock Now Catherine Hall to 90 00:05:22,040 --> 00:05:26,880 Speaker 1: talk about Hall Winery in Napa Valley Valley. She is 91 00:05:27,160 --> 00:05:30,599 Speaker 1: owner and vintner actually as well. Along with her husband. 92 00:05:30,680 --> 00:05:33,920 Speaker 1: She's a former United States Ambassador at Austria. She's someone 93 00:05:34,080 --> 00:05:38,880 Speaker 1: who jumped in to the Napa Valley uh Wine Wine 94 00:05:38,880 --> 00:05:42,400 Speaker 1: World with her husband more than a couple of decades ago, 95 00:05:42,480 --> 00:05:45,440 Speaker 1: and here they are unveiling a new platinum collection and 96 00:05:45,440 --> 00:05:48,680 Speaker 1: continuing to celebrate that perfect score they got for their 97 00:05:48,800 --> 00:05:52,479 Speaker 1: Cabernet Sauvignon and a new book, A Perfect Score, The Art, Soul, 98 00:05:52,520 --> 00:05:55,440 Speaker 1: and Business of a twenty one century Winery. Katherine, Welcome 99 00:05:55,480 --> 00:05:58,719 Speaker 1: to the show. Hi, Kathleen, thank you well. So, first 100 00:05:58,760 --> 00:06:01,320 Speaker 1: of all, you've had to you've had a long career. 101 00:06:01,360 --> 00:06:06,279 Speaker 1: But tell us specifically about Hall in Napa Valley what 102 00:06:06,480 --> 00:06:10,000 Speaker 1: it is that is so unique about your operation and 103 00:06:10,040 --> 00:06:19,679 Speaker 1: therefore your wine. Ah, we are, we're a rather large, 104 00:06:20,680 --> 00:06:25,320 Speaker 1: small boutique winery. I think that probably is one of 105 00:06:25,320 --> 00:06:27,320 Speaker 1: the things that Makescess very unique. There are a lot 106 00:06:27,360 --> 00:06:31,080 Speaker 1: of great producers of wine that come from Napa Valley, 107 00:06:31,880 --> 00:06:36,080 Speaker 1: and what we've tried to do is create that is 108 00:06:36,120 --> 00:06:39,360 Speaker 1: I think unique to us. UM is to create a 109 00:06:39,440 --> 00:06:44,360 Speaker 1: portfolio of wine sort of very vineyard specific, so that 110 00:06:44,440 --> 00:06:51,080 Speaker 1: we um we try to celebrate this um the specific 111 00:06:51,160 --> 00:06:53,640 Speaker 1: characteristics that come from each vineyard. I mean, you'd be 112 00:06:53,680 --> 00:06:57,599 Speaker 1: amazed at how a hundred yard one vineyard a hundred 113 00:06:57,680 --> 00:07:01,280 Speaker 1: yards from another vineyard can produce a wine if you 114 00:07:01,400 --> 00:07:05,800 Speaker 1: nurture properly. It's very different from the one immediately adjacent, 115 00:07:05,839 --> 00:07:09,200 Speaker 1: and even within one one vineyard, we can find certain 116 00:07:09,360 --> 00:07:13,240 Speaker 1: rows of vines that can produce wines that have different qualities. 117 00:07:13,240 --> 00:07:16,520 Speaker 1: So we try to make we make a lot of 118 00:07:16,560 --> 00:07:21,000 Speaker 1: different wines rather than one very large production wine, and 119 00:07:21,080 --> 00:07:24,880 Speaker 1: so that each of those wines are um really responsive 120 00:07:25,040 --> 00:07:29,680 Speaker 1: to the specific terre of the vineyard that the wine 121 00:07:29,720 --> 00:07:36,040 Speaker 1: comes from. Catherine Hall Hall Wineries in Sant Helena and Rutherford. 122 00:07:36,360 --> 00:07:39,280 Speaker 1: You chose Napa Valley Valley because you wanted to produce 123 00:07:39,280 --> 00:07:43,080 Speaker 1: the world's best cabernet. Tell us what it's what it 124 00:07:43,120 --> 00:07:45,960 Speaker 1: takes to make the world's the best cabernet and how 125 00:07:46,160 --> 00:07:50,280 Speaker 1: does it cost? What it cost? The joke, of course 126 00:07:50,440 --> 00:07:52,880 Speaker 1: is it takes a big fortune to make a small fortune. 127 00:07:53,280 --> 00:07:56,920 Speaker 1: But we um it takes most of all, I think 128 00:07:57,040 --> 00:07:59,560 Speaker 1: just takes a lot of hard work, takes a lot 129 00:07:59,600 --> 00:08:03,560 Speaker 1: of time, and it takes an incredibly talented staff. Um. 130 00:08:03,720 --> 00:08:07,040 Speaker 1: So we came to We came to Napa for to 131 00:08:07,160 --> 00:08:11,080 Speaker 1: produce cabernet because that's the place that we think that 132 00:08:11,200 --> 00:08:14,360 Speaker 1: I think really is the greatest cabinet in the world. 133 00:08:14,480 --> 00:08:17,960 Speaker 1: And it's um. It certainly has its own qualities and 134 00:08:18,080 --> 00:08:20,120 Speaker 1: I mean, if you want, if you like a cabinet 135 00:08:20,200 --> 00:08:24,800 Speaker 1: that's really rich and flavorful and and and just full 136 00:08:24,840 --> 00:08:29,360 Speaker 1: of fruit um, but still nuanced. I think Napa Valley 137 00:08:29,480 --> 00:08:31,200 Speaker 1: is the best place to do that. So what we 138 00:08:31,280 --> 00:08:34,120 Speaker 1: did is we came here. I actually grew up in 139 00:08:34,160 --> 00:08:37,559 Speaker 1: the business, but we were up in Mendocino County, which 140 00:08:37,640 --> 00:08:42,520 Speaker 1: is a little farther north of Napa Valley, and Gwen 141 00:08:42,640 --> 00:08:45,400 Speaker 1: Craig and I started our business together rather than the 142 00:08:45,600 --> 00:08:48,679 Speaker 1: one that my parents were in. We said, Okay, we're 143 00:08:48,679 --> 00:08:51,120 Speaker 1: gonna look for the very best thing is we can find. 144 00:08:51,200 --> 00:08:54,360 Speaker 1: So we started looking at hillside vineyards in particular in 145 00:08:54,480 --> 00:08:59,480 Speaker 1: Napa and then and then we started trying to figure 146 00:08:59,520 --> 00:09:02,400 Speaker 1: out who are the you know, sort of help finding 147 00:09:02,440 --> 00:09:05,080 Speaker 1: some winemakers that we could work with. It would really 148 00:09:05,160 --> 00:09:08,400 Speaker 1: be very talented and creative and willing to take risk. 149 00:09:08,440 --> 00:09:10,400 Speaker 1: I think risk is a very important part of any 150 00:09:10,480 --> 00:09:13,559 Speaker 1: kind of successful business, and it certainly is an important 151 00:09:13,559 --> 00:09:15,640 Speaker 1: part of the wine business. So Clatform, could you please 152 00:09:15,640 --> 00:09:18,400 Speaker 1: tell us about the new platinum collection? And do you 153 00:09:18,440 --> 00:09:25,760 Speaker 1: have another another hundred rank air from Robert Parker? And 154 00:09:25,760 --> 00:09:29,680 Speaker 1: how much how much one of these battles cost us? Oh, well, 155 00:09:29,720 --> 00:09:31,520 Speaker 1: the first thing is you have to be on a 156 00:09:31,559 --> 00:09:37,320 Speaker 1: lift because it's allocated and um, so we will start 157 00:09:37,360 --> 00:09:40,360 Speaker 1: to release him right now. We're putting people's names on 158 00:09:40,400 --> 00:09:44,000 Speaker 1: a list. We do if the platinum collection is this 159 00:09:44,600 --> 00:09:46,880 Speaker 1: sort of we think the pinnacle of all the wines 160 00:09:46,960 --> 00:09:49,320 Speaker 1: that we have made thus far in the industry. And 161 00:09:49,360 --> 00:09:53,599 Speaker 1: they are very small production, just maybe a hundred cases, 162 00:09:53,640 --> 00:09:57,000 Speaker 1: sometimes a little bit more than a hundred cases. But uh, 163 00:09:57,040 --> 00:10:00,960 Speaker 1: and the cost is going to be U around three 164 00:10:01,320 --> 00:10:05,920 Speaker 1: dollars a bottle, um. But but it will be allocated. 165 00:10:05,960 --> 00:10:08,320 Speaker 1: In some cases it's only one bottle to a person. 166 00:10:08,520 --> 00:10:10,800 Speaker 1: And and how you get him is that you come 167 00:10:10,800 --> 00:10:14,680 Speaker 1: on and you come on our website, which is Hall 168 00:10:14,800 --> 00:10:17,800 Speaker 1: Wines dot com, and put your name on a list, 169 00:10:17,880 --> 00:10:20,520 Speaker 1: and then we go in sort of a priority order 170 00:10:20,559 --> 00:10:23,480 Speaker 1: of um, just timing who is on their first or 171 00:10:23,520 --> 00:10:27,760 Speaker 1: who has bought these wines from us before, and then 172 00:10:27,800 --> 00:10:30,680 Speaker 1: we start to allocate the wine out. Um. What goes 173 00:10:30,720 --> 00:10:33,360 Speaker 1: into making these lines and one of those lines is 174 00:10:33,440 --> 00:10:36,400 Speaker 1: another perfect score me. But the book we wrote, um 175 00:10:36,520 --> 00:10:38,640 Speaker 1: is it was about the first wine that we made, 176 00:10:39,080 --> 00:10:41,680 Speaker 1: this sort of twenty year journey into creating a wine 177 00:10:41,720 --> 00:10:45,120 Speaker 1: that would get creating a business where we didn't know 178 00:10:45,760 --> 00:10:48,280 Speaker 1: how to sell wine, who would buy it, and even 179 00:10:48,320 --> 00:10:51,319 Speaker 1: who who in a restaurant, We're going to have to 180 00:10:51,400 --> 00:10:53,760 Speaker 1: leave it there. We've got to run owner of Hall 181 00:10:54,080 --> 00:10:58,360 Speaker 1: Napa Valley. You're listening taking stock and this is Bloomberg 182 00:11:00,880 --> 00:11:02,880 Speaker 1: noo by taking stoff is brought to you by your 183 00:11:02,880 --> 00:11:05,199 Speaker 1: Mercedes Spence Tri State deal There's no better way to 184 00:11:05,240 --> 00:11:07,160 Speaker 1: experience somewher than in the car of your dreams. And 185 00:11:07,200 --> 00:11:09,400 Speaker 1: now you can get an expertly craft of Mercedes Spence 186 00:11:09,520 --> 00:11:12,040 Speaker 1: for lesson. You can imagine cause her Tri State Dealer 187 00:11:12,240 --> 00:11:15,199 Speaker 1: or m b U s a dot com