WEBVTT - Businessweek Extra - Boozy Brunch

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<v Speaker 1>This is Bloomberg Business Week from Bloomberg Radio. I'm Jason

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<v Speaker 1>Kelly and I'm Carol Master. Welcome to the Bloomberg Business

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<v Speaker 1>Week Extra. It is our weekly podcast. It's when we

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<v Speaker 1>bring you an in depth interview you will not hear

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<v Speaker 1>anywhere else. And this week it's a double shot, if

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<v Speaker 1>you will. We caught up with two folks in the

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<v Speaker 1>alcohol business, the Boost business, Lindsay Andrews, CEO and founder

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<v Speaker 1>of Mini Bar. They are literally delivering alcohol to your door.

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<v Speaker 1>Business is booming, to say the least. And John Jordan

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<v Speaker 1>of Jordan's Winery, well known in the wine business. You

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<v Speaker 1>turned me onto it years ago, Carol. It's delicious. We

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<v Speaker 1>got to sample some remotely, but also getting in touch

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<v Speaker 1>with him and getting up to speed on some of

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<v Speaker 1>the things he's doing for his community out there in

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<v Speaker 1>northern California. Well, if you think about the wine industry, Jason,

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<v Speaker 1>just over the last couple of years, between fires and

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<v Speaker 1>droughts and then of course now the coronavirus, they have

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<v Speaker 1>really been impacted pretty hard. And what I loved about

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<v Speaker 1>him he is thinking about their supply Hi chain. They

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<v Speaker 1>work with a lot of restaurants, so he's thinking about

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<v Speaker 1>how can we help the community and keep it going

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<v Speaker 1>and make sure it's vital on the other side of

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<v Speaker 1>the virus. Here's more from both of them. Yeah, I

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<v Speaker 1>think we could all use a drink, no doubt about it. Man.

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<v Speaker 1>And I've got to say I've seen more tweets about

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<v Speaker 1>alcohol than I can keep track of during this health crisis.

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<v Speaker 1>And let's not forget some liquor stores, right, They've been

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<v Speaker 1>deemed essential in this lockdown. All right, So let's get

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<v Speaker 1>into that with Lindsay Andrews, co founder and chief executive

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<v Speaker 1>officer at Minibar Delivery, on the phone from Long Island. Lindsay,

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<v Speaker 1>thank you for joining us. First of all, I gotta

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<v Speaker 1>say I wasn't familiar with your business. Oh I am Carol,

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<v Speaker 1>catch up. So tell me. I don't know. I'm still

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<v Speaker 1>a little traditional and when I buy my wine. Um,

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<v Speaker 1>So tell me about what you guys are doing, and

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<v Speaker 1>tell me about the activity level that you've seen since

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<v Speaker 1>we've all been in lockdown. Yeah. So many Bar Delivery

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<v Speaker 1>is the best way to shop for wine, spirits and

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<v Speaker 1>beer online, sweep a web I in iOS and android app,

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<v Speaker 1>and we connect consumers to local liquor stores. So you

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<v Speaker 1>put in your delivery address. You see what the local

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<v Speaker 1>stores around you have ad to Karte check out seamlessly,

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<v Speaker 1>I'm any bar. The stores alerted, they pickpack and deliver. UM.

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<v Speaker 1>So we're in you know, about fifty cities across the US.

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<v Speaker 1>But we have seen explosive growth in the past couple

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<v Speaker 1>of weeks since um Trump announced the lockdown. So new

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<v Speaker 1>buyers are up five hundred and twenty five percent UM,

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<v Speaker 1>the sales are up a hundred and thirty eight percent,

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<v Speaker 1>and we've even seen sales growing from the March post

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<v Speaker 1>Corona to like the first couple of days of April.

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<v Speaker 1>So it's still growing and still increasing as people have

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<v Speaker 1>been you know, hopefully sheltering at home, hopefully isolating, but

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<v Speaker 1>hopefully still you know, finding a reason to celebrate or

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<v Speaker 1>having a Zoom call with friends to That's the other thing.

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<v Speaker 1>Like even our own Charlie Valmer, who is responsible for

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<v Speaker 1>making us all works you know, on a tech technology level,

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<v Speaker 1>technological level. I think that first week we were all

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<v Speaker 1>homes like, hey, we're doing a Zoom cocktail hour. Can

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<v Speaker 1>you do you want to have a Zoom team here? UM,

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<v Speaker 1>So what are you seeing in terms of what people

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<v Speaker 1>are drinking. Lindsay, take us into the numbers here. Yeah,

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<v Speaker 1>so you know, mostly the top brands have stayed at

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<v Speaker 1>the top, but what we've seen is oddly Corona Beer

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<v Speaker 1>has um snuck into one of our top three beers.

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<v Speaker 1>I'm not there before. UM, So I think I don't

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<v Speaker 1>know if people are doing it ironically, but probably Corona

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<v Speaker 1>has kind of risen in popularity. And then we've also seen, um,

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<v Speaker 1>there's been a decrease in sales and champagne and sparkling.

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<v Speaker 1>I think, you know, it's not the most celebratory time,

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<v Speaker 1>so people are drinking, and we have seen kind of

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<v Speaker 1>wine stay steady. Liquor has actually increased. As a person,

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<v Speaker 1>I was going to say that the hard stuff has

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<v Speaker 1>really increased. It is, it has increased, um, and beer

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<v Speaker 1>has decreased. And even I've found with my own personal

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<v Speaker 1>you know, I generally drink white wine, but now that

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<v Speaker 1>I'm at home, i'm not going out, I've tried to

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<v Speaker 1>mix it up and make cocktails, you know, um and

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<v Speaker 1>apperall sprits here, a spicy margarita there. So I've definitely

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<v Speaker 1>been mixing it up myself. So I think people are

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<v Speaker 1>doing that and trying new things, much like they're doing

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<v Speaker 1>with cooking, trying all these new things. You see, you know,

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<v Speaker 1>the sale of yeast for making bread his skyrocketed. I

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<v Speaker 1>think people are just trying new things and have the

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<v Speaker 1>time to you know, experiment, which is I've been trying

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<v Speaker 1>to buy flour for weeks and I can't get it. Well,

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<v Speaker 1>I have to say we we hoarded a little bit

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<v Speaker 1>of flower. My wife has an unbelievable baker. She comes

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<v Speaker 1>by naturally um and so we're having to do a

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<v Speaker 1>lot of like outdoor exercise when we can, and like

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<v Speaker 1>you know, get on the peloton to sort of counter

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<v Speaker 1>all of the good baking that's being done. In my

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<v Speaker 1>fifteen year ALLLD doing doing a lot of that as well,

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<v Speaker 1>you know, Lindsay. One of the reasons, one of the

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<v Speaker 1>several reasons I was excited to talk to you, is

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<v Speaker 1>you know, you understand the world of e commerce. You

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<v Speaker 1>worked at WAG, You have a lot of background in

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<v Speaker 1>sort of this this new world we're living in Fresh

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<v Speaker 1>Direct I believe you worked at as well, So I

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<v Speaker 1>mean you understand this sort of new world we're living in.

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<v Speaker 1>And I do wonder what's what's temporary and what's permanent

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<v Speaker 1>when it comes to how we are acquiring things as

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<v Speaker 1>as consumers, what do you see lasting when life gets

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<v Speaker 1>back to something resembling normal. Well, I think kind of

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<v Speaker 1>alcohol e commerce had definitely lagged other sectors and penetration,

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<v Speaker 1>and I think, you know, people just didn't know that

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<v Speaker 1>they could press about and then get their alcohol delivered,

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<v Speaker 1>much like their groceries or you know, an uber car

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<v Speaker 1>or whatnot. Um So, now that you know, I think

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<v Speaker 1>tons of people now know that they can get alcohol delivered,

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<v Speaker 1>and they didn't know that before. So I think people

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<v Speaker 1>will change their buying habits and start. I mean, it's

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<v Speaker 1>you don't Tito's is a heavy, bulky consumable. It doesn't

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<v Speaker 1>matter what store comes from. So it's very easy to

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<v Speaker 1>buy online, whereas you might care where you're you know,

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<v Speaker 1>Tacos or Burger Thai food comes from. You know it consumable,

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<v Speaker 1>it's a commodity. It doesn't actually matter the store. All right,

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<v Speaker 1>I've been distracted because I've been on your website and

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<v Speaker 1>so I'm in there and I'm checking around. Um but

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<v Speaker 1>but a window pops up. We're experiencing a surgeon demand.

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<v Speaker 1>It's no different when I go and try to buy

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<v Speaker 1>groceries and I can't find a delivery slot. So if

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<v Speaker 1>somebody goes online, um, can they get it in a

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<v Speaker 1>couple of days? Is it a week? Like? What are

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<v Speaker 1>we talking now? At this point? Our normal UM, we

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<v Speaker 1>usually deliver in thirty to sixty minutes UM. The stores

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<v Speaker 1>have experienced a massive surge in deliveries, so now you know,

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<v Speaker 1>our orders are running a little bit late, so it's

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<v Speaker 1>more it's going to be delivered in like two to

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<v Speaker 1>four hours UM. And it's definitely better since we're all

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<v Speaker 1>at home anyway, Fresh Direct and tell them how you're

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<v Speaker 1>doing that, could you just please um, Well they have

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<v Speaker 1>a they have a very common um. But so yes.

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<v Speaker 1>So we're definitely running a little bit behind because the

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<v Speaker 1>massive surge and orders, and our customer service staff has

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<v Speaker 1>been amazing, working around the clock, but they've you know,

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<v Speaker 1>they're getting the number of calls in a day that

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<v Speaker 1>we used to get in a week. So it's definitely

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<v Speaker 1>been a huge serve and and we're lucky, so we're hiring.

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<v Speaker 1>We're hiring customer service people, will probably hire people um

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<v Speaker 1>for our corporate office to help with the demand. And

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<v Speaker 1>we've diverted our tech team to really build tools for

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<v Speaker 1>our customer service teams since they're so in indated with

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<v Speaker 1>and lindsay, what are you having to do or what

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<v Speaker 1>are you choosing to do in terms of like safety

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<v Speaker 1>of delivery and all of those things that everyone both

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<v Speaker 1>on the employer, employee and consumer side is obviously very

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<v Speaker 1>concerned about. Yes, of course, so our entire team is

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<v Speaker 1>you know, mandatory work from home, and then the delivery staff.

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<v Speaker 1>You know, we really encourage UM people to bring their

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<v Speaker 1>own pen if they need design, don't hand your idea

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<v Speaker 1>to the delivery staff, and hopefully everyone's sheltering at home,

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<v Speaker 1>so the delivery staff are hopefully on the streets alone

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<v Speaker 1>and not exposed. UM. So we really you know, encourage

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<v Speaker 1>both the consumer and the delivery people UM not to

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<v Speaker 1>exchange anything like pens or ideas or hand the bag.

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<v Speaker 1>Just write it down. UM. But unfortunately, alcohol is a

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<v Speaker 1>highly regulated item, so we do need to make sure

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<v Speaker 1>that people are getting to the right hands possibly and

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<v Speaker 1>underage people are not taking advantage. Right. Yeah, you've got

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<v Speaker 1>to figure out a way to see those ideas. You

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<v Speaker 1>know that I would imagine that there is an extra

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<v Speaker 1>step that that is different from like somebody dropping off

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<v Speaker 1>a prime package at right at my front door. Alright,

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<v Speaker 1>So are you holding on to all your employees or

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<v Speaker 1>have you hired more because of increased demand? Yeah, we

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<v Speaker 1>hired more UM. So you know we I think this

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<v Speaker 1>week we've already onboarded, you know, hired two new customer

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<v Speaker 1>service people UM, and we've have offers out to more. Wow.

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<v Speaker 1>So when you uh look at sort of speaking of

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<v Speaker 1>supply chain, lindsay, what are you hearing from some of

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<v Speaker 1>your partners, because you know you work with some of

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<v Speaker 1>the biggest UM liquor and alcohol brands in the world.

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<v Speaker 1>Are they good with with supply and what are you

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<v Speaker 1>hearing from them as you think about sourcing. I know

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<v Speaker 1>you're dealing mostly with retailers, but I know you also

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<v Speaker 1>have you know, good touches into some of the big brands. Yeah,

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<v Speaker 1>we have great relationships with the big brands. And since

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<v Speaker 1>they can no longer unfortunately do a lot on premise

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<v Speaker 1>in bars and restaurants, you know, out of home advertising

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<v Speaker 1>no longer makes sense. We've actually seen a huge influx

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<v Speaker 1>in UM inbound inquiries for partnerships from all the major

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<v Speaker 1>suppliers UM, which has been great for us. And we

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<v Speaker 1>love working with them, um, and then we have much

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<v Speaker 1>like we've seen an increase in late deliveries, we have

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<v Speaker 1>seen an increase and out of stocks as well, just

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<v Speaker 1>because so many people are buying and the supply chain

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<v Speaker 1>is just a little bit harder with um, you know,

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<v Speaker 1>how the world is working today. So because we are Bloomberg,

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<v Speaker 1>we're always interested in is are you guys profitable we

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<v Speaker 1>I mean, after this turn of events, I think this

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<v Speaker 1>year we will be profitable. I think could be that

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<v Speaker 1>breakout moment where we will be profitable, which is really exciting. UM.

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<v Speaker 1>So that is our plan. Well, because we talk about

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<v Speaker 1>you know, as a result of everybody staying at home

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<v Speaker 1>working from home, you know, what are the things, whether

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<v Speaker 1>it's the working from home aspect, whether it's telemedicine, whether

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<v Speaker 1>it's education, Like, there are things we wonder what we'll

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<v Speaker 1>stay with us. And this is a way actually for

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<v Speaker 1>you guys right to kind of for people to get

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<v Speaker 1>comfortable with the idea of buying you know, alcohol online. Yes,

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<v Speaker 1>and hopefully you know, we want to make people's lives

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<v Speaker 1>easier and give free up their time to do the

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<v Speaker 1>things they love, like spend time with family, go out

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<v Speaker 1>to restaurants, you know, do their hobbies read a book

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<v Speaker 1>instead of doing chores like going to the liquor store. Instead,

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<v Speaker 1>let's make it easier and let them press a button

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<v Speaker 1>and get it delivered. It's heavy, bulky. We want to make,

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<v Speaker 1>you know, free up their time to do their passions.

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<v Speaker 1>All right, Well, we're looking forward to, uh maybe having

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<v Speaker 1>a delivery to our studio when we're back in Uh.

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<v Speaker 1>We really appreciate it. Linda Andrew's co founder CEO of

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<v Speaker 1>Many Bar Delivery, joining us on the phone from Long Island. Uh,

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<v Speaker 1>listen to just say, the mail room called Jason, Jason,

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<v Speaker 1>there's some maker's mark uh and some Peppy van Winkle

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<v Speaker 1>that is waiting here for you. And yes, send it

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<v Speaker 1>right up right up to the Blueberg Interactor Broker's studio.

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<v Speaker 1>Uh No, that's it's really interesting me. Look, there will

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<v Speaker 1>be companies that will grow and thrive on the other

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<v Speaker 1>side of this. And you do wonder whether and that's

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<v Speaker 1>what we were talking about, this notion that if you

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<v Speaker 1>get used to doing that in the same way people

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<v Speaker 1>got used to buying books, buying so much stuff from amazons,

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<v Speaker 1>like all these things, right, why not? Like we listen,

0:11:37.000 --> 0:11:39.400
<v Speaker 1>we've a feeling there may be a mini bar headed

0:11:39.440 --> 0:11:44.240
<v Speaker 1>to the master. You really so you used you've used them?

0:11:44.360 --> 0:11:46.679
<v Speaker 1>I met them a few years ago. I don't use

0:11:46.720 --> 0:11:49.560
<v Speaker 1>them here. They don't deliver to the burbs yet. Um. Yeah, no,

0:11:49.679 --> 0:11:52.160
<v Speaker 1>I met them a few years ago. It's a fascinating concept. Yeah.

0:11:52.200 --> 0:11:54.000
<v Speaker 1>And in her background, as we talked about it, is

0:11:54.000 --> 0:11:55.880
<v Speaker 1>really interesting too because she's worked with some of these

0:11:55.920 --> 0:12:00.760
<v Speaker 1>big e commerce UH companies, so totally understand the logistics

0:12:00.760 --> 0:12:03.800
<v Speaker 1>of it and all of that. COVID nineteen, as we know,

0:12:04.000 --> 0:12:06.360
<v Speaker 1>is in discriminate. We've talked about this a lot, impacting

0:12:06.400 --> 0:12:10.480
<v Speaker 1>all industries and all individuals potentially, and that includes the

0:12:10.520 --> 0:12:13.440
<v Speaker 1>wine industry. Our next guest is a second generation vintner.

0:12:13.800 --> 0:12:15.880
<v Speaker 1>He has a degree in economics, a law degree in

0:12:16.120 --> 0:12:18.880
<v Speaker 1>m b A. He's former officer in the Navy Reserves.

0:12:19.240 --> 0:12:22.480
<v Speaker 1>We're talking about the CEO and owner of Jordan Winery

0:12:22.679 --> 0:12:26.440
<v Speaker 1>and also creator of the John Jordan Foundation. And UH,

0:12:26.520 --> 0:12:28.400
<v Speaker 1>we are so welcome to have with us John Jordan

0:12:28.520 --> 0:12:32.480
<v Speaker 1>and John I gotta do full transparency. Um, your wine

0:12:32.520 --> 0:12:35.040
<v Speaker 1>has been a favorite of my husband's for decade decades

0:12:35.080 --> 0:12:37.679
<v Speaker 1>and it's become a favorite of mine. So welcome, welcome

0:12:37.679 --> 0:12:39.959
<v Speaker 1>to Bloomberg Radio. Delighted to have you. I know you're

0:12:39.960 --> 0:12:43.880
<v Speaker 1>on the phone in California, so welcome to Bloomberg Radio. Well,

0:12:44.200 --> 0:12:46.079
<v Speaker 1>thank you and happy to be here, and glad you've

0:12:46.160 --> 0:12:49.760
<v Speaker 1>enjoyed Jordan wine over the years. Absolutely, we're enjoying some

0:12:50.000 --> 0:12:53.040
<v Speaker 1>right now courtesy of you. So I actually haven't taken

0:12:53.040 --> 0:12:55.920
<v Speaker 1>a sip yet, but I am cheers to my to

0:12:55.960 --> 0:12:58.400
<v Speaker 1>my co host, uh, and to you. We we really

0:12:58.440 --> 0:13:01.640
<v Speaker 1>do appreciate John and I just start by asking, how

0:13:01.720 --> 0:13:05.319
<v Speaker 1>are you well? How are you? How's the family? Well,

0:13:05.360 --> 0:13:09.040
<v Speaker 1>first of all, the wineries are winery families in good shape. Um,

0:13:09.120 --> 0:13:12.000
<v Speaker 1>we're under the terms of our shelter in Place local

0:13:12.040 --> 0:13:15.360
<v Speaker 1>shelter in place orders were allowed to have employees work

0:13:15.400 --> 0:13:18.800
<v Speaker 1>as long as social distancing guidelines and hygiene guidelines are

0:13:18.800 --> 0:13:22.559
<v Speaker 1>observed to to continue the wine making process and to

0:13:22.640 --> 0:13:26.480
<v Speaker 1>protect the inventory that we have in the building. Now, however,

0:13:26.559 --> 0:13:30.559
<v Speaker 1>we are unable to see visitors and do tours and tastings,

0:13:30.880 --> 0:13:33.400
<v Speaker 1>which is really really hard for all of us here

0:13:33.400 --> 0:13:36.560
<v Speaker 1>because hospitality is as much part of our business as

0:13:36.559 --> 0:13:38.679
<v Speaker 1>his wine making, not from a revenue point of view,

0:13:38.720 --> 0:13:41.200
<v Speaker 1>but just in terms of who we are. And it's

0:13:41.200 --> 0:13:44.000
<v Speaker 1>it's all of the visitors and the staff that we

0:13:44.080 --> 0:13:48.239
<v Speaker 1>have taken care of them. They're very sorely missed right now. Um,

0:13:48.280 --> 0:13:52.040
<v Speaker 1>the wine industry that Sonoma and Napa are shut down

0:13:52.120 --> 0:13:54.960
<v Speaker 1>to visitors, and that is to not so much to us,

0:13:54.960 --> 0:13:59.200
<v Speaker 1>but it's devastating to local restaurants, hotels and wineries that

0:13:59.280 --> 0:14:02.000
<v Speaker 1>depend on people coming to see them. People look at

0:14:02.040 --> 0:14:05.080
<v Speaker 1>the wine country and understand that of course that wine

0:14:05.120 --> 0:14:08.840
<v Speaker 1>is our biggest industry, but not too far behind is

0:14:08.880 --> 0:14:11.800
<v Speaker 1>tourism and his visitation. To have that taken away is

0:14:11.840 --> 0:14:15.479
<v Speaker 1>just devastating to so many small businesses that are necessary

0:14:15.520 --> 0:14:19.640
<v Speaker 1>to not only operating wineries, operating restaurants and hotels. UM.

0:14:19.880 --> 0:14:22.240
<v Speaker 1>But you know, it's it's it's it's just been it's

0:14:22.480 --> 0:14:25.040
<v Speaker 1>it's just a terrible blow to our economy. Well, and

0:14:25.080 --> 0:14:27.200
<v Speaker 1>that's a big part that we've been talking about as well,

0:14:27.200 --> 0:14:31.120
<v Speaker 1>about the restaurant industry. We've had UM, Danielle blue On

0:14:31.320 --> 0:14:35.360
<v Speaker 1>and others, just because that industry has been devastated. And

0:14:35.400 --> 0:14:37.800
<v Speaker 1>you guys sell to a lot of that industry which

0:14:37.840 --> 0:14:41.200
<v Speaker 1>has been shut down as well. It has you know,

0:14:41.240 --> 0:14:44.120
<v Speaker 1>we sell almost we've sold almost three quarters of our

0:14:44.120 --> 0:14:48.680
<v Speaker 1>wine until this is all of this happened into America's restaurants.

0:14:48.720 --> 0:14:52.680
<v Speaker 1>Now almost all restaurants are gone. Fortunately you Jordan's is

0:14:52.720 --> 0:14:55.480
<v Speaker 1>a restaurant that's pleased people throughout the years and brought

0:14:55.520 --> 0:14:58.120
<v Speaker 1>a lot of pleasure. And now we're we're fortunate to

0:14:58.120 --> 0:14:59.440
<v Speaker 1>be in the position to be able to offer it

0:14:59.440 --> 0:15:02.040
<v Speaker 1>to people in stores, you know, whether it's a fine

0:15:02.040 --> 0:15:06.400
<v Speaker 1>wine shop or grocery stores, um or you know, or

0:15:06.520 --> 0:15:10.440
<v Speaker 1>or businesses that are essential. So we have an outlet

0:15:10.480 --> 0:15:13.240
<v Speaker 1>for our product, but that doesn't do a lot of

0:15:13.280 --> 0:15:17.280
<v Speaker 1>good for a lot of other small businesses in the area. Well,

0:15:17.320 --> 0:15:20.360
<v Speaker 1>and and John, obviously you know this has not been

0:15:20.400 --> 0:15:24.360
<v Speaker 1>an easy few years for for the wine business. As

0:15:24.800 --> 0:15:27.600
<v Speaker 1>Carol goes bottoms up, I'm watching her on uh and

0:15:27.640 --> 0:15:31.080
<v Speaker 1>then very happily. So uh, this has not been an

0:15:31.080 --> 0:15:34.000
<v Speaker 1>easy few years. And we've talked about that a lot

0:15:34.080 --> 0:15:37.720
<v Speaker 1>on this show. Help us understand how the economics overall

0:15:37.760 --> 0:15:42.320
<v Speaker 1>have changed, sort of synthesizing all of the fires of

0:15:42.400 --> 0:15:45.800
<v Speaker 1>the droughts and everything, sort of the various things that

0:15:45.840 --> 0:15:49.400
<v Speaker 1>have been visited upon this business. Well, first of all,

0:15:50.000 --> 0:15:53.160
<v Speaker 1>all of our businesses in Sonoma, NAPA have gotten very

0:15:53.200 --> 0:15:56.200
<v Speaker 1>good at emergency procedures because we have so much practice

0:15:56.840 --> 0:16:00.000
<v Speaker 1>UM with regard to the fires. The biggest damage, large

0:16:00.080 --> 0:16:03.640
<v Speaker 1>lead to the community economically wasn't as much the fires

0:16:03.640 --> 0:16:07.200
<v Speaker 1>themselves as it is the perception that Sonoma, Napa and

0:16:07.200 --> 0:16:10.200
<v Speaker 1>the Wine Country had burned down because of the graphic

0:16:10.320 --> 0:16:13.520
<v Speaker 1>nature of the coverage. Now in two thousand seventeen, in particular,

0:16:13.520 --> 0:16:15.320
<v Speaker 1>a lot of people lost their homes and there was

0:16:15.440 --> 0:16:18.480
<v Speaker 1>loss of life. And as as much as we mourned that,

0:16:18.640 --> 0:16:22.840
<v Speaker 1>the damage continued because people thought that you know, Sonoma

0:16:23.080 --> 0:16:25.240
<v Speaker 1>was gone and and and there was no point in

0:16:25.280 --> 0:16:29.760
<v Speaker 1>coming to visit, and that harm was longer lived and

0:16:29.880 --> 0:16:34.040
<v Speaker 1>probably more profound and more deeply felt in in this community.

0:16:34.560 --> 0:16:37.360
<v Speaker 1>Then the physical damage you're saying, the perception was actually

0:16:37.440 --> 0:16:41.400
<v Speaker 1>worse than the physical damage. Correct. The physical damage was

0:16:41.440 --> 0:16:44.400
<v Speaker 1>in a lot of residential I had a lot of

0:16:44.440 --> 0:16:47.640
<v Speaker 1>my employees, UM a few employees lose their homes in

0:16:47.640 --> 0:16:50.720
<v Speaker 1>the company. We obviously helped them with that. But you know,

0:16:50.720 --> 0:16:53.120
<v Speaker 1>in two thousand eighteen, most of the most two thousand nineteen,

0:16:53.160 --> 0:16:55.040
<v Speaker 1>from most part people had their houses put together, and

0:16:55.080 --> 0:16:58.800
<v Speaker 1>then we had another fire. The fires in two thousand nineteen,

0:16:58.880 --> 0:17:02.280
<v Speaker 1>while made great television, really didn't do. They were out

0:17:02.280 --> 0:17:05.760
<v Speaker 1>in the wilderness, so they didn't really impact or they

0:17:05.800 --> 0:17:09.080
<v Speaker 1>burned down one winery, but other than that, the structural

0:17:09.160 --> 0:17:12.600
<v Speaker 1>damage wasn't there. But once again there was the change

0:17:12.600 --> 0:17:16.119
<v Speaker 1>in perceptions which hurts so many small and family, small

0:17:16.160 --> 0:17:19.119
<v Speaker 1>families businesses when it's restaurants, hotels, bed and breakfast that

0:17:19.440 --> 0:17:23.280
<v Speaker 1>depend upon the visitation we have at this hour, John

0:17:23.320 --> 0:17:26.040
<v Speaker 1>Jordan's he's the owner of Jordan Winery. Also ahead of

0:17:26.040 --> 0:17:30.040
<v Speaker 1>the Jordan Foundation. On the phone, UM from California. So John,

0:17:30.040 --> 0:17:32.119
<v Speaker 1>tell us a little bit about the John Jordan Foundation

0:17:32.160 --> 0:17:34.600
<v Speaker 1>because I was reading about it. Um, You guys do

0:17:34.640 --> 0:17:36.760
<v Speaker 1>a lot of things. A lot of it's about education,

0:17:36.840 --> 0:17:40.000
<v Speaker 1>but it's also about helping you know, other individuals launch

0:17:40.160 --> 0:17:43.600
<v Speaker 1>small businesses. Tell us a little bit about it. Well,

0:17:43.680 --> 0:17:46.200
<v Speaker 1>the John Jordan Foundation is something I started in two

0:17:46.200 --> 0:17:49.240
<v Speaker 1>thousand twelve and I thought it was a productive place

0:17:49.280 --> 0:17:52.439
<v Speaker 1>to put the profit put profits from the winery. We

0:17:52.560 --> 0:17:56.240
<v Speaker 1>do everything for We try to close educational gaps. Is

0:17:56.280 --> 0:17:59.040
<v Speaker 1>one thing as iPads in schools where children are there

0:17:59.160 --> 0:18:00.960
<v Speaker 1>a low income schools where if they're not exposed the

0:18:01.040 --> 0:18:04.840
<v Speaker 1>technology early, they're behind the game. If they're not tech fluent,

0:18:05.400 --> 0:18:08.120
<v Speaker 1>UM that can damage them and condemn them to being

0:18:08.119 --> 0:18:13.640
<v Speaker 1>in a permanent underclass. So predominantly UM minority neighborhoods Latino here,

0:18:13.760 --> 0:18:15.760
<v Speaker 1>which is what you know, we have a lot of

0:18:15.840 --> 0:18:21.359
<v Speaker 1>Latino people live here. Uh that we are a pediatric dentistry.

0:18:21.400 --> 0:18:22.960
<v Speaker 1>You know, if you go to an emergency room, you

0:18:22.960 --> 0:18:25.960
<v Speaker 1>can get medical care, but not dental dental care. So

0:18:26.000 --> 0:18:27.560
<v Speaker 1>if you're eleven twelve years old and you have your

0:18:27.560 --> 0:18:29.760
<v Speaker 1>adult teeth and they're falling out, you're not only in pain,

0:18:29.880 --> 0:18:33.159
<v Speaker 1>you're vulnerable to illness their self esteem issues. So we

0:18:33.240 --> 0:18:35.440
<v Speaker 1>are committed to closing a lot of that, especially with

0:18:35.480 --> 0:18:39.879
<v Speaker 1>pediatric dentistry education, UM English is a second language, and

0:18:39.920 --> 0:18:43.960
<v Speaker 1>then micro loan training and micro loans for those individuals

0:18:44.000 --> 0:18:47.640
<v Speaker 1>that may not have a lengthy formal education to gain

0:18:47.680 --> 0:18:49.359
<v Speaker 1>the skills and knowledge they need to be able to

0:18:49.359 --> 0:18:51.520
<v Speaker 1>start their own small business. So we're proud to have

0:18:51.600 --> 0:18:55.880
<v Speaker 1>worked with several organizations throughout the West to to try

0:18:55.920 --> 0:18:59.680
<v Speaker 1>to grow an entrepreneurial class of people that other that

0:18:59.720 --> 0:19:02.040
<v Speaker 1>may have grown up never thinking they would own a business.

0:19:02.480 --> 0:19:06.840
<v Speaker 1>And then lastly, we try to address those unfortunately all

0:19:06.880 --> 0:19:10.879
<v Speaker 1>too often occurrences here locally where businesses and individuals are

0:19:10.920 --> 0:19:16.399
<v Speaker 1>displaced through natural disasters, right, and and the notion of

0:19:16.560 --> 0:19:19.040
<v Speaker 1>and this sort of dovetails with some of the stuff

0:19:19.040 --> 0:19:21.000
<v Speaker 1>we were talking about before the break and in terms

0:19:21.040 --> 0:19:24.520
<v Speaker 1>of you know, helping people with meals and whatnot at

0:19:24.520 --> 0:19:27.200
<v Speaker 1>a time. And there's a lot of that going around, uh,

0:19:27.359 --> 0:19:30.159
<v Speaker 1>going on around us here in New York City as

0:19:30.200 --> 0:19:33.080
<v Speaker 1>well because at first responders and people displaced it you're

0:19:33.080 --> 0:19:35.840
<v Speaker 1>doing some work there too. Yes, what we try to

0:19:35.920 --> 0:19:39.000
<v Speaker 1>do is look at problems holistically. Often there are multiple

0:19:39.080 --> 0:19:44.679
<v Speaker 1>dimensions and multiple injuries that derive from UM a calamity

0:19:44.720 --> 0:19:46.800
<v Speaker 1>of some sort. In this case with business and being

0:19:46.800 --> 0:19:49.159
<v Speaker 1>shut down. You have lots of people being hurt. You

0:19:49.160 --> 0:19:52.000
<v Speaker 1>have people lost their jobs that may now be food insecure.

0:19:52.480 --> 0:19:56.040
<v Speaker 1>You have restaurant people the rest businesses that are now failing,

0:19:56.040 --> 0:19:58.919
<v Speaker 1>particularly restaurants, and they may never be able to reopen

0:19:58.960 --> 0:20:02.000
<v Speaker 1>and provide people job in the future. It's a vicious cycle.

0:20:02.359 --> 0:20:04.280
<v Speaker 1>And what people don't hear about so much is a

0:20:04.280 --> 0:20:06.800
<v Speaker 1>lot of the farmers and vendors and purveyors that supply

0:20:06.920 --> 0:20:10.440
<v Speaker 1>those restaurants they're getting hurt do so through a program

0:20:10.480 --> 0:20:14.040
<v Speaker 1>called Cinema Family Meal the Foundation UM we've of a

0:20:14.119 --> 0:20:19.280
<v Speaker 1>funded an effort to open seventeen restaurants, and that allows

0:20:19.320 --> 0:20:22.480
<v Speaker 1>them to keep a small staff of of of servers

0:20:22.560 --> 0:20:25.280
<v Speaker 1>and chefs busy, pay their bills so that they can

0:20:25.320 --> 0:20:30.040
<v Speaker 1>stay open in the future. In exchange, they provide um

0:20:30.040 --> 0:20:32.520
<v Speaker 1>meals to those who otherwise wouldn't be able to eat,

0:20:32.880 --> 0:20:35.720
<v Speaker 1>and this also keeps some of those farmers and vendors

0:20:35.720 --> 0:20:39.520
<v Speaker 1>in business. We're attacking a problem from several different directions,

0:20:39.560 --> 0:20:41.000
<v Speaker 1>and that's what we really try to do with the

0:20:41.000 --> 0:20:45.240
<v Speaker 1>Foundation is identifying those gaps which maybe aren't sexy or

0:20:45.359 --> 0:20:48.280
<v Speaker 1>or positive, to get a lot of press and attack them,

0:20:48.320 --> 0:20:50.800
<v Speaker 1>and then try to look at other problems on several

0:20:50.840 --> 0:20:54.120
<v Speaker 1>dimensions and be creative in the solutions we we support.

0:20:54.520 --> 0:20:57.000
<v Speaker 1>I love this so much because I was just talking

0:20:57.000 --> 0:20:59.159
<v Speaker 1>to somebody in our town and my wife is actually

0:20:59.160 --> 0:21:01.000
<v Speaker 1>working on a project later to this here. I live

0:21:01.040 --> 0:21:03.840
<v Speaker 1>in just a little town, sleepy hollow, and in just

0:21:03.920 --> 0:21:06.399
<v Speaker 1>north of New York City, and there's an effort to

0:21:06.400 --> 0:21:08.840
<v Speaker 1>do exactly the sort of thing you're talking about. Because

0:21:08.920 --> 0:21:12.080
<v Speaker 1>we talk so much about supply chains, John, and this

0:21:12.160 --> 0:21:14.560
<v Speaker 1>is a supply chain. Ultimately, you know you're talking about

0:21:14.560 --> 0:21:17.840
<v Speaker 1>farms and restaurants and it also is about a workforce

0:21:17.960 --> 0:21:20.760
<v Speaker 1>that we need to figure out a way just to

0:21:20.840 --> 0:21:24.480
<v Speaker 1>sort of bridge us across to this new Norman. If

0:21:24.480 --> 0:21:27.600
<v Speaker 1>we can keep these restaurants open and keep people employed,

0:21:27.640 --> 0:21:30.600
<v Speaker 1>and restaurant owners I think are doing an amazing job

0:21:31.240 --> 0:21:34.600
<v Speaker 1>at figuring out these creative ways. Obviously they're social distancing

0:21:34.920 --> 0:21:36.680
<v Speaker 1>involved in things like that. But if you can keep

0:21:36.680 --> 0:21:39.480
<v Speaker 1>people fed, keep people employed, and sort of keep that

0:21:39.600 --> 0:21:42.400
<v Speaker 1>chain going, just hold onto it for a little while

0:21:42.400 --> 0:21:44.840
<v Speaker 1>to again on the other side, it's such a as

0:21:44.880 --> 0:21:48.520
<v Speaker 1>you say, you know, these are complicated problems that we

0:21:48.680 --> 0:21:53.240
<v Speaker 1>sometimes I think underestimate the complexity there. To be sure,

0:21:54.440 --> 0:21:56.800
<v Speaker 1>it is what you see here, you know, historically and

0:21:56.800 --> 0:22:00.240
<v Speaker 1>for whatever reason you know you people would good as

0:22:00.320 --> 0:22:03.280
<v Speaker 1>employees are on one side of offense and businesses are

0:22:03.320 --> 0:22:05.840
<v Speaker 1>on another, as if there's some bright line between them.

0:22:05.840 --> 0:22:08.480
<v Speaker 1>And what we're learning America is learning here is that

0:22:08.520 --> 0:22:11.920
<v Speaker 1>we're all all intertwined, that businesses are people. When businesses

0:22:11.920 --> 0:22:15.119
<v Speaker 1>get hurt, people get hurt, and businesses have a concurrent

0:22:15.160 --> 0:22:18.680
<v Speaker 1>responsibility to their employees because a business is only as

0:22:18.720 --> 0:22:21.439
<v Speaker 1>good as the people that work there. We're all in

0:22:21.480 --> 0:22:23.560
<v Speaker 1>this together, and I think if there's any good to

0:22:23.640 --> 0:22:26.800
<v Speaker 1>come to this crisis is that perhaps reminds us of

0:22:26.840 --> 0:22:29.119
<v Speaker 1>that truism. Well, and I also think, you know what

0:22:29.160 --> 0:22:33.000
<v Speaker 1>I'm thinking about the government's stimulus, the federal government stimulus efforts, John,

0:22:33.040 --> 0:22:36.680
<v Speaker 1>I mean also a reminder that when we come down

0:22:36.720 --> 0:22:39.280
<v Speaker 1>to it, despite you know, it's the big companies that

0:22:39.320 --> 0:22:41.400
<v Speaker 1>are often in the headlines, and we talk so much

0:22:41.400 --> 0:22:45.720
<v Speaker 1>about the publicly health companies, it's small business. Ultimately, that

0:22:45.840 --> 0:22:48.480
<v Speaker 1>is what America is all about, and that ultimately really

0:22:48.560 --> 0:22:52.399
<v Speaker 1>keeps the economy going exactly. You know what what doesn't

0:22:52.400 --> 0:22:55.520
<v Speaker 1>get a lot of press is that small businesses actually

0:22:55.520 --> 0:22:58.960
<v Speaker 1>bigger than big business. Smaller businesses in the sub five

0:22:59.040 --> 0:23:03.200
<v Speaker 1>hundred employee category employ more people than the so called

0:23:03.280 --> 0:23:06.120
<v Speaker 1>you know, than the companies that are traded on the Dow,

0:23:06.240 --> 0:23:10.560
<v Speaker 1>for example. So small business, smaller businesses really are the

0:23:10.600 --> 0:23:14.080
<v Speaker 1>bulk provide the bulk of jobs, and the and the

0:23:14.200 --> 0:23:17.800
<v Speaker 1>and the and the bulk of provide more wealth and

0:23:18.040 --> 0:23:20.879
<v Speaker 1>uh resources than people. What other way since But but

0:23:21.000 --> 0:23:23.560
<v Speaker 1>small business really is the bigger part of America, and

0:23:23.600 --> 0:23:27.199
<v Speaker 1>it defines who we are, right because it's aspirational, So

0:23:27.320 --> 0:23:30.480
<v Speaker 1>listen to be fair, because I am enjoying your cabernet

0:23:30.960 --> 0:23:33.280
<v Speaker 1>right in front of me. And I know you guys

0:23:33.359 --> 0:23:37.200
<v Speaker 1>make just two wines, but they are two magnificent wines.

0:23:37.240 --> 0:23:38.800
<v Speaker 1>And I gotta be honest, if you just made the

0:23:38.800 --> 0:23:41.600
<v Speaker 1>one the cab I do fine too with that. Just

0:23:41.720 --> 0:23:43.240
<v Speaker 1>got about a minute and a half here, tell us

0:23:43.240 --> 0:23:45.280
<v Speaker 1>a little bit about the wine that we're drinking. Where

0:23:45.280 --> 0:23:47.719
<v Speaker 1>our cabernet is made in a French style. It's not

0:23:47.800 --> 0:23:52.440
<v Speaker 1>a big California over oaked, high alcohol um dominant type

0:23:52.440 --> 0:23:54.440
<v Speaker 1>of windes gonna overpower food. It's designed to make a

0:23:54.520 --> 0:23:56.520
<v Speaker 1>chef look good, but it's a restaurant jeff or a

0:23:56.560 --> 0:23:58.600
<v Speaker 1>home cook, and it's got a little, it's a much

0:23:58.640 --> 0:24:00.440
<v Speaker 1>it's lower in alcohol, so you can have two or

0:24:00.480 --> 0:24:03.600
<v Speaker 1>three glasses and enjoy it and enjoy your food. The

0:24:03.760 --> 0:24:10.960
<v Speaker 1>chardonnay is a Russian River Appalachian and it is a bright, acidic, crispy.

0:24:11.000 --> 0:24:13.359
<v Speaker 1>It is not one of those big over oak butter

0:24:13.400 --> 0:24:17.159
<v Speaker 1>balls that you traditionally associate with California. So our wines

0:24:17.200 --> 0:24:20.520
<v Speaker 1>are really more of an homage and carry over from

0:24:20.560 --> 0:24:24.119
<v Speaker 1>French French winemaking styles than they are what you would

0:24:24.400 --> 0:24:28.000
<v Speaker 1>traditionally associate with California. So they're a little surprising in

0:24:28.000 --> 0:24:31.800
<v Speaker 1>that regard, and that was Lindsay Andrews, founder and CEO

0:24:32.080 --> 0:24:35.160
<v Speaker 1>of Mini Bar, and John Jordan's of Jordan's Winery. Loved

0:24:35.160 --> 0:24:38.720
<v Speaker 1>those conversations. And you know, for most of us, good

0:24:38.720 --> 0:24:41.040
<v Speaker 1>to have a drink every town again through this quarantine.

0:24:41.200 --> 0:24:43.160
<v Speaker 1>Gotta say, by the end of the week, I am

0:24:43.359 --> 0:24:45.880
<v Speaker 1>more than ready all right. You've been listening to Bloomberg

0:24:45.920 --> 0:24:48.480
<v Speaker 1>Business Week Extra, and be sure to tune into Bloomberg

0:24:48.520 --> 0:24:51.040
<v Speaker 1>Business Week Radio Live Money through Friday at two pm

0:24:51.160 --> 0:24:54.439
<v Speaker 1>Wall Street Time on Bloomberg Radio. I'm Jason Kelly and

0:24:54.480 --> 0:24:56.760
<v Speaker 1>I'm Carol Masser. This is Bloomberg