WEBVTT - Vintner Kathryn Hall on Hall Wines' Platinum Collection (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 sixty to the countries. Who is a jam

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<v Speaker 1>General one nine and around the globe the Bloomberg Radio

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<v Speaker 1>plus NAP and Bloomberg dot Com. This is taking stock,

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<v Speaker 1>coming upon taking stockward to take stock of the wine industry.

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<v Speaker 1>Unfavorable weather in Napa Valley has caused the harvest to

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<v Speaker 1>decline nearly compared to two thousand and fifteen. We're gonna

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<v Speaker 1>find out what that means for Napa wine producers. But

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<v Speaker 1>we're talking to a woman who can you imagine anyone

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<v Speaker 1>hundred from Robert Parker on the rating for your wine?

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<v Speaker 1>I want to taste that cabernet. We're gonna taste of that.

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<v Speaker 1>Coming up first, we're going to Charlie Pellet in the

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<v Speaker 1>Bloomberg news room for a Bloomberg Business Flash. And thank

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<v Speaker 1>you very much, Kathleen, Thank you, Phim. We are on

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<v Speaker 1>track for a record with the doll the SMB nez

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<v Speaker 1>back All Advancing SMP five hundred index now at seven

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<v Speaker 1>it is up thirty points a gain of one point

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<v Speaker 1>four percent. The SMP five hundred index trading above it's

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<v Speaker 1>made two thousand fifteen record clothes. June's strong jobs report

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<v Speaker 1>probably will not change the Fed's decision on when to

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<v Speaker 1>raise interest rates. That's according to Bill Gross of Janice

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<v Speaker 1>Capital Group, who's interviewed this morning on Bloomberg Surveillance. And

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<v Speaker 1>you know, I think the Feds stays where it is.

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<v Speaker 1>They they've wanted to raise interest rates, they did it once.

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<v Speaker 1>I think they want to have this believe that they'll

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<v Speaker 1>raise several times and therefore have a pretty positive meal curve,

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<v Speaker 1>which will help banks and insurance companies spent. For the

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<v Speaker 1>most part, I don't think this changes much the labor departments.

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<v Speaker 1>That employers added two hundred eighty seven thousand jobs, far

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<v Speaker 1>more than economists surveyed by Bloomberg were expecting. The jobless

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<v Speaker 1>rate did rise to four point nine percent. Is more

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<v Speaker 1>people enter the labor force. Wages advanced less than projected.

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<v Speaker 1>Let's take a look at the numbers here. We've got

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<v Speaker 1>the SMP up thirty at twenty one twenty eight, a

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<v Speaker 1>gain of one point four percent. Down dust reels up

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<v Speaker 1>two hundred forty one points to eighteen thousand, one hundred

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<v Speaker 1>thirty seven. Again there of one point four percent. Navs

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<v Speaker 1>stack picking up seventy five points to forty nine fifty two,

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<v Speaker 1>a gain of one and a half percent. The tenure

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<v Speaker 1>up six thirty seconds. Zeal now one point three six percent,

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<v Speaker 1>Gold of a dollar twenty the ounce advancing point one

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<v Speaker 1>percent to thirteen sixty three. West Texas intermediate crude is

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<v Speaker 1>now at forty five dollars and fourteen cents a barrel.

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<v Speaker 1>It is three thirty two on Wall Street. Now, let's

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<v Speaker 1>take a look at other news from around the world

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<v Speaker 1>on Bloomberg Radio. Thank you, Charlie from the Bloomberg News Room.

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<v Speaker 1>I'm Chill Schneider. U S. Attorney General Loretta lynch says

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<v Speaker 1>the nation mourns for all those killed in shooting this

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<v Speaker 1>past week. She spoke at the Justice Department this morning.

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<v Speaker 1>Everything we must remind ourselves that we're all American, and

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<v Speaker 1>that as Americans, we share not just a common land,

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<v Speaker 1>but a common life, not just common goals, but a

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<v Speaker 1>common heart and soul. President Obama has ordered all American

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<v Speaker 1>flags on federal grounds to be flown at half staff

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<v Speaker 1>in honor of the five Dallas police officers gunned down

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<v Speaker 1>last night. Mr Obama is in more Saw, Poland, where

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<v Speaker 1>he spoke about the attacks. We need of those officers

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<v Speaker 1>who do their job each and every day, protecting us

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<v Speaker 1>and protecting our communities. Today is a wrenching reminder of

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<v Speaker 1>the sacrifices that they make for US. President Obama called

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<v Speaker 1>the attack vicious and calculated. A suspect in last night's

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<v Speaker 1>killings has been identified, according to multiple media reports. He

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<v Speaker 1>is twenty five year old Micah Xavier Johnson. Johnson reportedly

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<v Speaker 1>served in the Army Reserve as a carpentry and masonry specialist.

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<v Speaker 1>He was killed by an explosive strapped to a police

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<v Speaker 1>robot after hours of negotiating with police. The New York

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<v Speaker 1>Times reports he appears to be the lone gunman. However,

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<v Speaker 1>three other suspects are being detained by police. The NYPD

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<v Speaker 1>is stepping up security for its officers in the wake

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<v Speaker 1>of the Dallas attack. The nation's largest police department said

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<v Speaker 1>today it's using additional footposts and other measures to protect precincts.

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<v Speaker 1>Officers are also being worn to remain vigilant and to

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<v Speaker 1>patrol in pairs. Global News twenty four hours a day,

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<v Speaker 1>powered by more than journalists and analysts in more than

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<v Speaker 1>one twenty countries. From the Bloomberg newsroom, I'm Jil Schneider, Charlie,

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<v Speaker 1>and we thank you and again recapping S and P

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<v Speaker 1>five hundred index up twenty nine points to a gain

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<v Speaker 1>of one point four percent. I'm Charlie Palatin. That's a

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<v Speaker 1>Bluebird business flash. Bloom were taking stock the lux life

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<v Speaker 1>goal Jewls. I claimed properties and valuable nature. Now that

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<v Speaker 1>you live in that house, can I be your financial advisor?

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<v Speaker 1>It's good to be king. I thought of your right

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<v Speaker 1>and I've right out in. Remember how much I wanted

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<v Speaker 1>a big backyard with Grecian statue shaped hedges and three

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<v Speaker 1>swimming cold well, I got that to Bloomberg taking Stock

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<v Speaker 1>the Lucks Life on Bloomberg Radio. A perfect score worth

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<v Speaker 1>more than gold, it seems maybe worth platinum. Were very

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<v Speaker 1>happy to welcome to taking Stock Now Catherine Hall to

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<v Speaker 1>talk about Hall Winery in Napa Valley Valley. She is

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<v Speaker 1>owner and vintner actually as well. Along with her husband.

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<v Speaker 1>She's a former United States Ambassador at Austria. She's someone

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<v Speaker 1>who jumped in to the Napa Valley uh Wine Wine

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<v Speaker 1>World with her husband more than a couple of decades ago,

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<v Speaker 1>and here they are unveiling a new platinum collection and

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<v Speaker 1>continuing to celebrate that perfect score they got for their

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<v Speaker 1>Cabernet Sauvignon and a new book, A Perfect Score, The Art, Soul,

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<v Speaker 1>and Business of a twenty one century Winery. Katherine, Welcome

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<v Speaker 1>to the show. Hi, Kathleen, thank you well. So, first

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<v Speaker 1>of all, you've had to you've had a long career.

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<v Speaker 1>But tell us specifically about Hall in Napa Valley what

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<v Speaker 1>it is that is so unique about your operation and

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<v Speaker 1>therefore your wine. Ah, we are, we're a rather large,

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<v Speaker 1>small boutique winery. I think that probably is one of

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<v Speaker 1>the things that Makescess very unique. There are a lot

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<v Speaker 1>of great producers of wine that come from Napa Valley,

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<v Speaker 1>and what we've tried to do is create that is

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<v Speaker 1>I think unique to us. UM is to create a

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<v Speaker 1>portfolio of wine sort of very vineyard specific, so that

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<v Speaker 1>we um we try to celebrate this um the specific

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<v Speaker 1>characteristics that come from each vineyard. I mean, you'd be

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<v Speaker 1>amazed at how a hundred yard one vineyard a hundred

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<v Speaker 1>yards from another vineyard can produce a wine if you

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<v Speaker 1>nurture properly. It's very different from the one immediately adjacent,

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<v Speaker 1>and even within one one vineyard, we can find certain

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<v Speaker 1>rows of vines that can produce wines that have different qualities.

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<v Speaker 1>So we try to make we make a lot of

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<v Speaker 1>different wines rather than one very large production wine, and

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<v Speaker 1>so that each of those wines are um really responsive

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<v Speaker 1>to the specific terre of the vineyard that the wine

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<v Speaker 1>comes from. Catherine Hall Hall Wineries in Sant Helena and Rutherford.

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<v Speaker 1>You chose Napa Valley Valley because you wanted to produce

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<v Speaker 1>the world's best cabernet. Tell us what it's what it

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<v Speaker 1>takes to make the world's the best cabernet and how

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<v Speaker 1>does it cost? What it cost? The joke, of course

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<v Speaker 1>is it takes a big fortune to make a small fortune.

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<v Speaker 1>But we um it takes most of all, I think

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<v Speaker 1>just takes a lot of hard work, takes a lot

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<v Speaker 1>of time, and it takes an incredibly talented staff. Um.

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<v Speaker 1>So we came to We came to Napa for to

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<v Speaker 1>produce cabernet because that's the place that we think that

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<v Speaker 1>I think really is the greatest cabinet in the world.

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<v Speaker 1>And it's um. It certainly has its own qualities and

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<v Speaker 1>I mean, if you want, if you like a cabinet

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<v Speaker 1>that's really rich and flavorful and and and just full

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<v Speaker 1>of fruit um, but still nuanced. I think Napa Valley

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<v Speaker 1>is the best place to do that. So what we

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<v Speaker 1>did is we came here. I actually grew up in

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<v Speaker 1>the business, but we were up in Mendocino County, which

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<v Speaker 1>is a little farther north of Napa Valley, and Gwen

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<v Speaker 1>Craig and I started our business together rather than the

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<v Speaker 1>one that my parents were in. We said, Okay, we're

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<v Speaker 1>gonna look for the very best thing is we can find.

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<v Speaker 1>So we started looking at hillside vineyards in particular in

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<v Speaker 1>Napa and then and then we started trying to figure

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<v Speaker 1>out who are the you know, sort of help finding

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<v Speaker 1>some winemakers that we could work with. It would really

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<v Speaker 1>be very talented and creative and willing to take risk.

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<v Speaker 1>I think risk is a very important part of any

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<v Speaker 1>kind of successful business, and it certainly is an important

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<v Speaker 1>part of the wine business. So Clatform, could you please

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<v Speaker 1>tell us about the new platinum collection? And do you

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<v Speaker 1>have another another hundred rank air from Robert Parker? And

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<v Speaker 1>how much how much one of these battles cost us? Oh, well,

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<v Speaker 1>the first thing is you have to be on a

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<v Speaker 1>lift because it's allocated and um, so we will start

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<v Speaker 1>to release him right now. We're putting people's names on

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<v Speaker 1>a list. We do if the platinum collection is this

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<v Speaker 1>sort of we think the pinnacle of all the wines

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<v Speaker 1>that we have made thus far in the industry. And

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<v Speaker 1>they are very small production, just maybe a hundred cases,

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<v Speaker 1>sometimes a little bit more than a hundred cases. But uh,

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<v Speaker 1>and the cost is going to be U around three

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<v Speaker 1>dollars a bottle, um. But but it will be allocated.

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<v Speaker 1>In some cases it's only one bottle to a person.

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<v Speaker 1>And and how you get him is that you come

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<v Speaker 1>on and you come on our website, which is Hall

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<v Speaker 1>Wines dot com, and put your name on a list,

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<v Speaker 1>and then we go in sort of a priority order

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<v Speaker 1>of um, just timing who is on their first or

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<v Speaker 1>who has bought these wines from us before, and then

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<v Speaker 1>we start to allocate the wine out. Um. What goes

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<v Speaker 1>into making these lines and one of those lines is

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<v Speaker 1>another perfect score me. But the book we wrote, um

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<v Speaker 1>is it was about the first wine that we made,

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<v Speaker 1>this sort of twenty year journey into creating a wine

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<v Speaker 1>that would get creating a business where we didn't know

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<v Speaker 1>how to sell wine, who would buy it, and even

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<v Speaker 1>who who in a restaurant, We're going to have to

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<v Speaker 1>leave it there. We've got to run owner of Hall

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<v Speaker 1>Napa Valley. You're listening taking stock and this is Bloomberg

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<v Speaker 1>noo by taking stoff is brought to you by your

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<v Speaker 1>Mercedes Spence Tri State deal There's no better way to

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