Tuesday, November 27, 2007

Monday, November 26

Visit of the warehouse for my wholesale business in Saint Magne de Castillon for the departure of Christelle who helped us during the time we were looking for a replacement for Annie who is away on a training program in the South. Welcome Jeannine Chauvin.

At 11 am, tasting at the Château de Carles in Fronsac of a few samples of 2007 and 2006 of both cuvees (Haut Carles and de Carles). Were participating: the whole technical team of Mr Dosso, the cellar master, Mr Bouëtz, in charge of the vineyards and the cellar, Mr. Fort, our Oenologist from Michel Roland’s lab, Doctor Alain Raynaud, our consultant and I, in charge of the overall strategy of this beautiful property to try to get it out of the infernal circle of the Bordeaux caste system. If it is possible! The 2007 batches were good to very good, a batch of Haut-Carles 2007 was simply fantastic, the marriage between wine and barrel worked perfectly.

At 2 pm, meeting with our accountant to review the 2007 numbers. Our revenues of 10 million Euros are down 30% from 2006: The volume and price of the 2004 futures compared to 2003 explains this drop. Results being divided by 3. Already we have indications that the results for our next statement, thanks to 2005, will most likely increase by 50% and our profit multiply by at least 5.

Our activities must be considered in mid term: the difference in price and demand for each vintage prevents any reliable projection and explain such variations in our numbers. It is therefore important to work with bankers who understand the specificities of Bordeaux wholesalers (and just for a your information, labor cost: 1.6 million Euros ).

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