Keith and Alana Break Down The Wine Tariff Problem

Navigating Wine Tariffs: Challenges and Opportunities for Small Businesses

 

In this episode of the After Wine School Podcast, Keith Wallace and Alana Zerbe delve into the complex topic of wine tariffs and their impact on wine lovers and small businesses. They discuss past experiences with tariffs, offer insights on the current economic landscape, and explore the potential future scenarios for the wine industry. They highlight the interconnected nature of the wine supply chain, the unique challenges of state-specific liquor laws, and the potential opportunities that market disruptions can bring. The discussion also includes reflections on changing wine consumption trends, the resilience of small businesses, and the potential for growth in local wine production. Despite the difficult subject matter, they aim to provide a balanced perspective, emphasizing both the challenges and opportunities that lie ahead.

 

00:00 Introduction to the After Wine School Podcast

00:25 Diving into Tariffs and Their Impact

01:32 Challenges Faced by Small Wine Businesses

03:18 The Unique Difficulties of the Wine Trade

05:32 Trends in Wine Preferences

10:13 The Interconnectedness of the Wine Industry

15:50 Preparing for Tariffs: A Historical Perspective

17:51 Changing Demographics of Wine Drinkers

18:15 Stockpiling Wine in Anticipation of Tariffs

19:21 Impact of Tariffs on Wine Prices

20:32 Business Strategies Amid Tariff Challenges

23:20 Opportunities in the Wine Trade

26:36 Potential Growth for East Coast Wine Production

30:08 Concluding Thoughts and Encouragement

Episode Transcript

(00:00):
Welcome to the After Wine School Podcast! This week Keith and Alana discuss why tariffs matter to wine lovers, and how they may affect you personally.
.893Please share this podcast with anyone who loves wine! Welcome to After Wine School, the wine podcast. 3 00:00:17,436.893 --> 00:00:20,466.893 This is Alana Zerbe with my partner Keith Wallace. 4 00:00:21,171.893 --> 00:00:21,511.893 I'm here. 5 00:00:22,211.893 --> 00:00:22,511.893 I'm here. 6 00:00:23,291.893 --> 00:00:24,231.893 I'm swear. 7 00:00:24,231.893 --> 00:00:24,511.893 Welcome. 8 00:00:25,211.893 --> 00:00:28,596.893 We are here today to talk about a little bit of a tough topic. 9 00:00:28,596.893 --> 00:00:30,366.893 We're gonna dive into tariffs. 10 00:00:30,366.893 --> 00:00:31,926.893 We want to offer some. 11 00:00:32,281.893 --> 00:00:33,721.893 Firsthand perspective. 12 00:00:33,721.893 --> 00:00:39,671.893 We've been through this before and so Keith and I thought it might be helpful to talk through some lessons. 13 00:00:39,671.893 --> 00:00:43,781.893 We've learned, some thoughts about how to move through uncertainty. 14 00:00:43,931.893 --> 00:00:45,881.893 So that's the goal of today's podcast. 15 00:00:45,941.893 --> 00:00:49,601.893 As always, we are sponsored by the National Wine School. 16 00:00:49,871.893 --> 00:00:54,426.893 The country's absolute best in online wine education, and as always. 17 00:00:54,736.893 --> 00:01:07,666.893 They have asked us to make sure we tell the good people that any opinions and viewpoints said on this very podcast are completely our own and do not reflect anything. 18 00:01:07,751.893 --> 00:01:13,901.893 The National Wine School or any other business really would want attributed to them. 19 00:01:14,91.893 --> 00:01:16,671.893 That gives us a little cover so we can say honest things. 20 00:01:16,701.893 --> 00:01:17,631.893 That's let's just be honest. 21 00:01:17,631.893 --> 00:01:18,21.893 There we go. 22 00:01:18,171.893 --> 00:01:19,251.893 Like we, that's great. 23 00:01:19,251.893 --> 00:01:20,301.893 I that fantastic. 24 00:01:20,451.893 --> 00:01:24,131.893 They're not liable, but that allows us to talk some really hard pieces. 25 00:01:24,131.893 --> 00:01:26,621.893 This is a hard conversation to have. 26 00:01:27,131.893 --> 00:01:31,91.893 And I would, so where should we start here? Because this is tough. 27 00:01:31,391.893 --> 00:01:32,21.893 This is tough. 28 00:01:32,81.893 --> 00:01:39,791.893 So the landscape today, in some ways, I think although we had tariffs, was it 2016? That Yeah. 29 00:01:39,791.893 --> 00:01:43,971.893 The first round that would make that we have dealt with tariffs before. 30 00:01:44,441.893 --> 00:01:45,371.893 I think what is. 31 00:01:46,76.893 --> 00:01:57,376.893 Particularly tough at this moment in time is that there is a little bit of an existential crisis when it comes to wine generally with so much consumption at historic lows. 32 00:01:57,406.893 --> 00:01:57,886.893 That's true. 33 00:01:57,986.893 --> 00:02:04,66.893 Continuing and ongoing climate change issues and then layering on top of it. 34 00:02:04,66.893 --> 00:02:08,176.893 Now, the difficulty of accessing some of the most. 35 00:02:08,451.893 --> 00:02:10,941.893 Wonderful, beautiful things in the entire world. 36 00:02:10,941.893 --> 00:02:20,261.893 So I think it might be helpful just to talk a little bit about what is most salient for folks like us who are small business owners? Yes. 37 00:02:20,721.893 --> 00:02:25,111.893 Really with very little power over these changes. 38 00:02:25,411.893 --> 00:02:25,831.893 That's true. 39 00:02:25,836.893 --> 00:02:27,736.893 There is incredibly small amount Yeah. 40 00:02:27,836.893 --> 00:02:28,416.893 Of power. 41 00:02:28,666.893 --> 00:02:28,886.893 And. 42 00:02:29,766.893 --> 00:02:38,616.893 Maybe let's just talk about what are the biggest concerns that we have with tariffs and what might happen, and then we'll follow up. 43 00:02:38,616.893 --> 00:02:44,686.893 We'll try to end with a little bit of positivity and optimism about what can come Absolutely. 44 00:02:44,686.893 --> 00:02:45,916.893 From a difficult situation. 45 00:02:45,946.893 --> 00:02:46,831.893 And I would say there's always. 46 00:02:48,511.893 --> 00:02:52,171.893 There's always an upside to market disruptions. 47 00:02:52,231.893 --> 00:03:01,921.893 There always is this isn't, it's not great for people who are already in the business, but it does offer, there's gonna be a lot of upside in a few years. 48 00:03:02,371.893 --> 00:03:13,771.893 I just wanna say that flat out like this is, this, is, this can be incredibly good, incredibly beneficial to people moving into the markets now or considering or thinking about it in the next five years. 49 00:03:13,771.893 --> 00:03:14,401.893 Interesting. 50 00:03:14,461.893 --> 00:03:15,656.893 That is actually a. 51 00:03:15,781.893 --> 00:03:17,41.893 Definite positive. 52 00:03:18,511.893 --> 00:03:33,701.893 I think we should also describe like how, why is it so uniquely difficult for the wine trade when we see things like tariffs or even just different laws in state by state, like small changes have these big outsize effects. 53 00:03:34,656.893 --> 00:03:35,876.893 So first of all. 54 00:03:36,851.893 --> 00:03:42,551.893 We, all of us are small, right? The wine school, small, everything is small. 55 00:03:42,551.893 --> 00:03:47,711.893 Largely because we're not one country when it comes to liquor laws. 56 00:03:47,711.893 --> 00:03:53,31.893 We are, every state has its own laws that so it's unique unlike. 57 00:03:53,266.893 --> 00:03:58,566.893 We have all these trade laws around the country where free markets, it's all free markets. 58 00:03:58,566.893 --> 00:04:00,216.893 That's end to end of the United States. 59 00:04:00,216.893 --> 00:04:04,746.893 It's a big free market, except what from when it comes to alcohol here. 60 00:04:04,776.893 --> 00:04:13,466.893 Each state has their own rules and big chunk of that is you can only distribute or sell wines to your own population. 61 00:04:13,866.893 --> 00:04:16,906.893 There's a there's out, there's some things that are not like that. 62 00:04:16,906.893 --> 00:04:19,396.893 Like sometimes you can, in some states you can buy from. 63 00:04:19,396.893 --> 00:04:21,76.893 Other states have it shipped. 64 00:04:21,76.893 --> 00:04:24,916.893 Wineries can ship to you, but for the most part, it's actually, I. 65 00:04:27,101.893 --> 00:04:30,11.893 And so we have a lot of small companies, which is awesome. 66 00:04:30,11.893 --> 00:04:37,121.893 That means that if you wanna be in the wine trade, it's not that hard 'cause you're not having to compete with a big national company. 67 00:04:37,171.893 --> 00:04:41,51.893 You're having to compete with a statewide company, a regional company. 68 00:04:41,411.893 --> 00:04:42,11.893 This. 69 00:04:42,251.893 --> 00:04:50,171.893 Offers a lot of small businesses and that's where really where the power and the effectiveness of being in the wine trade, like at the wine school. 70 00:04:50,621.893 --> 00:04:55,211.893 So many of our students become small business owners and make really good livings that way. 71 00:04:55,521.893 --> 00:04:57,896.893 So what you're saying is low barriers. 72 00:04:58,376.893 --> 00:04:59,66.893 To entry. 73 00:04:59,126.893 --> 00:04:59,456.893 Yes. 74 00:04:59,461.893 --> 00:05:01,661.893 That is a definite bonus. 75 00:05:01,661.893 --> 00:05:03,371.893 There's a lot of creativity. 76 00:05:03,701.893 --> 00:05:05,561.893 Things are smaller scale. 77 00:05:05,561.893 --> 00:05:06,821.893 They're human scale. 78 00:05:07,211.893 --> 00:05:09,521.893 You've mentioned this phrase that I love. 79 00:05:09,521.893 --> 00:05:12,941.893 Things go on agricultural time in the wine world. 80 00:05:13,661.893 --> 00:05:14,21.893 Oh, yes. 81 00:05:14,171.893 --> 00:05:14,951.893 That is really good. 82 00:05:14,951.893 --> 00:05:16,91.893 Thank you for bringing that up. 83 00:05:16,181.893 --> 00:05:17,321.893 Thank you for queuing me on that. 84 00:05:17,321.893 --> 00:05:23,871.893 That's really fantastic because not only are we small, but we do, we're on agricultural time just because vineyards take. 85 00:05:23,946.893 --> 00:05:31,566.893 10, 20 years to plant and to, or regions to become popular or different styles that come into play. 86 00:05:32,86.893 --> 00:05:41,76.893 I always like to point out that when I started the wine school, decades ago, chardonnay was this huge, like everyone drunk Chardonnay, but then that slowly petered away. 87 00:05:41,436.893 --> 00:05:43,296.893 But we had a conversation off mic. 88 00:05:43,326.893 --> 00:05:43,626.893 Yes. 89 00:05:44,11.893 --> 00:05:46,201.893 About how this is. 90 00:05:47,76.893 --> 00:05:58,850.893 All of a sudden changing it in relation to like Sauvignon Blanc, would you like talk about this for a little bit? Yeah, so I think what's fascinating with wine is that there's two perspectives. 91 00:05:58,850.893 --> 00:06:05,480.893 There's obviously this great historical perspective that goes back thousands of years that wine's a part of our part of our culture. 92 00:06:05,480.893 --> 00:06:11,620.893 And you can walk in the same footsteps that famous winemakers or famous Romans did. 93 00:06:12,260.893 --> 00:06:16,100.893 Hundreds of years ago, and we're also on agricultural time. 94 00:06:16,130.893 --> 00:06:26,350.893 So there is this long view that you have to have, but all of this at the same time exists in a world like with anything else where things are always changing. 95 00:06:26,830.893 --> 00:06:28,480.893 And it certainly was the case. 96 00:06:28,480.893 --> 00:06:33,70.893 I know in your era of starting the wine school, Chardonnay was. 97 00:06:34,495.893 --> 00:06:35,155.893 The top. 98 00:06:35,155.893 --> 00:06:35,785.893 It was huge. 99 00:06:35,785.893 --> 00:06:36,25.893 It's insane. 100 00:06:36,25.893 --> 00:06:37,195.893 Why? It's huge. 101 00:06:37,195.893 --> 00:06:42,475.893 And it was the classic Napa style, the buttery, the oaky, the big. 102 00:06:42,955.893 --> 00:06:55,465.893 And by the time I started teaching about 10 years ago, it had changed dramatically such that it was the outlier who said they liked Chardonnay, of course. 103 00:06:55,915.893 --> 00:06:58,435.893 And they didn't even want to admit it. 104 00:06:58,885.893 --> 00:07:01,645.893 And it's fascinating now because a. 105 00:07:02,845.893 --> 00:07:07,855.893 About six, nine months ago, I really started noticing it's half and half. 106 00:07:07,915.893 --> 00:07:17,875.893 If I ask a one-on-one class, how many people prefer a New Zealand Sauvignon Blanc? How many people prefer a California Chardonnay or that style? Okay. 107 00:07:17,875.893 --> 00:07:28,5.893 It's pretty much equal, and it's not, oh, the older folks are, say, raising their hand more? No it's, the demographics have nothing to do with it. 108 00:07:28,5.893 --> 00:07:29,385.893 It is across the board. 109 00:07:29,445.893 --> 00:07:38,235.893 And what I tell the students, because I am always surprised, I actually tell them how surprised I am at what they're indicating here. 110 00:07:38,715.893 --> 00:07:43,845.893 And the important thing to keep in mind, my Pomeranian is really. 111 00:07:45,75.893 --> 00:07:50,25.893 Right now he is completely tangled in your let's explain what's going on. 112 00:07:50,25.893 --> 00:07:51,860.893 We are, I don't know if I can, okay. 113 00:07:51,865.893 --> 00:07:52,155.893 Okay. 114 00:07:52,155.893 --> 00:07:52,545.893 So here we are. 115 00:07:53,115.893 --> 00:07:53,385.893 Okay. 116 00:07:53,745.893 --> 00:07:56,95.893 So what just happened was we're actually recording. 117 00:07:56,425.893 --> 00:08:05,835.893 In the woods of Maine in a little cabin, and we have one of our dogs just wrapped around my cord that's hooked into with the microphone. 118 00:08:05,885.893 --> 00:08:16,145.893 As Lana was talking, I was desperately trying to unweave myself from this rabid Pomeranian trying to unweave ourselves from this rabbit Pomeranian for a very long time. 119 00:08:16,425.893 --> 00:08:18,255.893 So he is now in my arms. 120 00:08:18,255.893 --> 00:08:22,140.893 We'll see how long this lasts right next to the mic, so may have next to the mic. 121 00:08:22,145.893 --> 00:08:27,315.893 Unfortunate barking incident that's gonna blow my air drums out, out, out of the back of my head. 122 00:08:28,65.893 --> 00:08:29,475.893 That's gonna be an embarrassing way to die. 123 00:08:29,475.893 --> 00:08:32,535.893 However, now this is a family effort. 124 00:08:32,535.893 --> 00:08:32,775.893 Yes. 125 00:08:32,775.893 --> 00:08:35,505.893 This is this trend has changed. 126 00:08:35,505.893 --> 00:08:40,545.893 But mind you we're talking over a decade that's changed and that's, this is agricultural time. 127 00:08:40,905.893 --> 00:08:43,95.893 Things change slowly and then all of a sudden you notice that. 128 00:08:43,725.893 --> 00:08:45,15.893 They are changing again. 129 00:08:45,555.893 --> 00:08:55,995.893 And one of the things we've noticed at the school is that people are much more interested, not as much in like austere whites, but in like really like expressive whites. 130 00:08:56,25.893 --> 00:08:56,115.893 Yes. 131 00:08:56,955.893 --> 00:09:06,295.893 A lot of my classes now and when I'm designing a wine class for the public, I am putting in more intense aromatic perfumed white wines. 132 00:09:06,325.893 --> 00:09:08,95.893 There's a real big love of that. 133 00:09:08,425.893 --> 00:09:10,885.893 It used to be, I would. 134 00:09:11,295.893 --> 00:09:11,835.893 Have them. 135 00:09:11,925.893 --> 00:09:12,705.893 I would insist, I would. 136 00:09:12,705.893 --> 00:09:15,285.893 It's back in the day I would insist on having roses. 137 00:09:15,465.893 --> 00:09:17,25.893 Even though people thought roses were awful. 138 00:09:17,25.893 --> 00:09:22,5.893 I would insist on having these big, beautiful, white wines as well, even though people hated them. 139 00:09:22,275.893 --> 00:09:24,225.893 Because it's no, you can't just get to the red. 140 00:09:24,225.893 --> 00:09:31,905.893 You have to see these amazing white wines and it's like you have to eat your peas before you can have your desserts. 141 00:09:32,175.893 --> 00:09:33,375.893 That's how I saw it. 142 00:09:33,505.893 --> 00:09:35,155.893 But now people just absolutely love it. 143 00:09:35,215.893 --> 00:09:36,835.893 Sometimes that's their favorite part. 144 00:09:37,645.893 --> 00:09:39,595.893 I remember it wasn't that long ago when. 145 00:09:39,855.893 --> 00:09:44,115.893 When a lot of people would say, Haida don't like white wines, you don't hear that anymore. 146 00:09:44,170.893 --> 00:09:44,980.893 So I, yeah. 147 00:09:45,10.893 --> 00:09:56,560.893 Trends are trends, and these are long term, but, and so in a institution, institutions like this, like these small businesses, and even like wineries are small. 148 00:09:57,70.893 --> 00:09:58,570.893 Everything is small. 149 00:09:58,980.893 --> 00:10:02,965.893 And so when you bring something in like tariffs ho. 150 00:10:04,855.893 --> 00:10:12,795.893 It changes everything and is this huge tsunami of change in a place that's not used to very short term change. 151 00:10:13,245.893 --> 00:10:17,805.893 And you should also understand that we're not just small, we're interconnected. 152 00:10:18,705.893 --> 00:10:20,145.893 Everything is connected. 153 00:10:20,475.893 --> 00:10:31,125.893 So for instance, if you only drink California wines great, but the person selling that to you, that wine shop. 154 00:10:31,965.893 --> 00:10:39,15.893 They rely on all the sales of French wine and Spanish wines and Portuguese wines to keep their margins up. 155 00:10:39,15.893 --> 00:10:40,695.893 Like they can't exist alone. 156 00:10:40,755.893 --> 00:10:42,525.893 If they could, they would have, right. 157 00:10:42,555.893 --> 00:10:45,145.893 You would have a lot of wine shops that were just, America. 158 00:10:45,145.893 --> 00:10:45,595.893 Hell yeah. 159 00:10:46,85.893 --> 00:10:47,15.893 That's what you would have. 160 00:10:47,15.893 --> 00:10:55,985.893 Like you have, but they don't exist because we have a very specific styles but we don't have, we're, we need to have all styles. 161 00:10:56,625.893 --> 00:10:59,385.893 It's kinda like you would only have, if you had a bookstore, you only had. 162 00:11:00,330.893 --> 00:11:11,850.893 One kind of fiction, like you only had like Marmite fiction, right? We only have, yeah, we only did fiction about rodents and rodent related activities and that's it. 163 00:11:11,950.893 --> 00:11:13,300.893 You can't exist with that. 164 00:11:13,540.893 --> 00:11:16,630.893 What you can, you need to have the whole world and. 165 00:11:17,260.893 --> 00:11:26,710.893 But it's not just a wine shop that is, has to have Bordeaux and Burgundy and Spanish wines and German wines and Australian wines. 166 00:11:27,10.893 --> 00:11:32,950.893 It's not just that, but it's also the distributor, the person, the company that actually brings those wines to you. 167 00:11:32,950.893 --> 00:11:38,590.893 That a huge part of their portfolio as well is our European wines and outside of the United States. 168 00:11:39,400.893 --> 00:11:43,990.893 So if all of a sudden. 169 00:11:45,640.893 --> 00:11:49,990.893 Everything, but California wines are incredibly expensive and no one's buying them. 170 00:11:50,530.893 --> 00:12:05,830.893 Then every piece of commerce, every piece of the puzzle falls apart and everyone all of a sudden goes outta business like so you can easily see a distributor going outta business. 171 00:12:06,520.893 --> 00:12:11,560.893 And so say you're on the East coast, say that you're in Massachusetts. 172 00:12:12,100.893 --> 00:12:17,950.893 The one distributor that's actually carries your favorite bottle of California wines. 173 00:12:18,460.893 --> 00:12:21,310.893 They also carry a whole lot of European wines as well. 174 00:12:22,90.893 --> 00:12:31,240.893 If they go out of business, you're never get, you're not be able to get that bottle of wine again, right? Because it no longer has a represent representative in that steak. 175 00:12:31,270.893 --> 00:12:37,960.893 'cause each state is its own rules and you have to have a distributor in that state, that wine. 176 00:12:39,575.893 --> 00:12:44,255.893 And therefore, so they are the only ones who can supply that wine to that wine shop. 177 00:12:45,335.893 --> 00:12:46,715.893 There are a few variations on that. 178 00:12:46,715.893 --> 00:12:49,25.893 Like Jersey isn't like that, but Jersey is corrupt as hell. 179 00:12:49,25.893 --> 00:13:02,108.893 So like We can ignore Jersey and sure, maybe you can buy that wine directly from the winery, but then you're buying a case, right? Or two cases and you're paying more money than you would have if you were buying it at your local wine store, which is the weird thing. 180 00:13:02,858.893 --> 00:13:05,228.893 So now you're, you are in fact paying more money. 181 00:13:06,313.893 --> 00:13:12,763.893 And this has this effect, this, and everything suddenly starts costing more money. 182 00:13:13,573.893 --> 00:13:15,73.893 And largely 'cause everyone's losing money. 183 00:13:15,163.893 --> 00:13:16,963.893 So you, so yeah. 184 00:13:17,893.893 --> 00:13:25,693.893 Are your California wines gonna get cheaper? No, they're gonna get more expensive because there is less wines to be sold. 185 00:13:25,793.893 --> 00:13:28,698.893 And if it's a small producer, more people are buying that wine. 186 00:13:28,968.893 --> 00:13:33,858.893 So like we have, we're a large wine producing comp country, but. 187 00:13:35,208.893 --> 00:13:38,778.893 We're not gonna be able to supply all the wines for this country, like everyone. 188 00:13:39,18.893 --> 00:13:44,608.893 So if everyone just buys California wine, now you have, you don't have enough supply for the demand. 189 00:13:44,698.893 --> 00:13:46,258.893 And so those prices are gonna go up. 190 00:13:47,428.893 --> 00:13:51,388.893 There's no upside to consumer at this scenario. 191 00:13:51,388.893 --> 00:13:54,958.893 Like your prices are going to go up no matter what you're paying for. 192 00:13:55,813.893 --> 00:14:00,313.893 If they don't go up, it means you just, they don't exist anymore in your marketplace. 193 00:14:00,643.893 --> 00:14:03,583.893 And so this becomes a real problem all the way around. 194 00:14:03,583.893 --> 00:14:12,643.893 So there's no way of getting out of this that everything with tariffs are gonna cost more, and the higher the tariffs, the less choice you're gonna have. 195 00:14:12,643.893 --> 00:14:16,183.893 Because more and more businesses are gonna step out of it, at least for a while. 196 00:14:16,543.893 --> 00:14:21,133.893 They, or they will just limit and they will actually have to start laying people off. 197 00:14:21,223.893 --> 00:14:22,903.893 And that's the hard piece here. 198 00:14:22,903.893 --> 00:14:24,463.893 We're not in a good place. 199 00:14:25,633.893 --> 00:14:43,393.893 For the companies right now that are in business, they're coming into really tough times and you're always, you're already starting to see it in the distribution, not in retail yet, and you're gonna start seeing it in the next months, few months if tariffs. 200 00:14:43,753.893 --> 00:14:44,323.893 Stay. 201 00:14:44,713.893 --> 00:14:54,733.893 And if they continue or if they increase at all, you're gonna start seeing a lot of disruptions in the marketplace because we're not used to it, we're not, we're small companies. 202 00:14:54,823.893 --> 00:14:57,343.893 Everyone is gonna freak out in their own specific way. 203 00:14:57,823.893 --> 00:15:00,853.893 Some people will actually just go outta business. 204 00:15:00,883.893 --> 00:15:10,353.893 Some people will be smart and have been smart and actually have done the thing that I tell people to do, which is get it in now. 205 00:15:10,453.893 --> 00:15:11,23.893 Get it in. 206 00:15:11,73.893 --> 00:15:27,213.893 The hard thing is boats don't go fast and if to get it in now, you would've had to think about this six months to a year ago of the possibility that you would need to actually place larger orders and make sure they're in this country before there's a possibility of tariffs. 207 00:15:27,663.893 --> 00:15:33,423.893 So the people who did that, and there are some companies that did that, that are really well run and really thought for, thought through that. 208 00:15:34,743.893 --> 00:15:36,723.893 And one of those companies is us. 209 00:15:37,733.893 --> 00:15:38,153.893 Yes. 210 00:15:38,153.893 --> 00:15:42,603.893 So preparing for this this time around has been possible. 211 00:15:42,603.893 --> 00:15:50,213.893 There's been some foreshadowing that tariffs would increase be a tool in the current administration's playbook. 212 00:15:50,693.893 --> 00:15:57,858.893 What happened in 2016? Let's take a historical view before something. 213 00:15:58,913.893 --> 00:16:00,23.893 That was put into place. 214 00:16:00,33.893 --> 00:16:03,783.893 What did the wine school do at that time? Oh boy. 215 00:16:03,843.893 --> 00:16:04,323.893 All right. 216 00:16:04,363.893 --> 00:16:06,523.893 At that stage we did not expect it at all. 217 00:16:06,553.893 --> 00:16:07,148.893 That's the difference. 218 00:16:07,148.893 --> 00:16:08,588.893 We did not expect it. 219 00:16:09,253.893 --> 00:16:21,873.893 So what we had to do was we just calculated like we, that this was gonna cost and more likely that it was gonna be about 20% more. 220 00:16:22,248.893 --> 00:16:29,588.893 So what we had to do was we had to start increasing prices slowly for classes because we just knew that over time. 221 00:16:30,188.893 --> 00:16:31,328.893 And so what we did. 222 00:16:31,658.893 --> 00:16:33,368.893 Now, there's a delay effect when you're buying. 223 00:16:33,368.893 --> 00:16:41,148.893 So we just bought retail at that stage, so if we like everyone else, but what we saw, so we just bought a little bit more than we expected. 224 00:16:41,628.893 --> 00:16:47,598.893 And because the wine school is in Philadelphia in a state control, we knew that their inventory was about a year. 225 00:16:47,718.893 --> 00:16:50,598.893 So we actually had about a year before. 226 00:16:50,913.893 --> 00:16:55,243.893 The costs really started trickling into us where we are gonna have to start. 227 00:16:55,243.893 --> 00:17:01,463.893 So we absorbed some of the costs and we passed on some of the costs to our of our students, which I didn't wanna do, but we had to do it slowly. 228 00:17:01,913.893 --> 00:17:04,553.893 And then, and then of course, I. 229 00:17:05,723.893 --> 00:17:12,173.893 By 2020 when we started seeing, and then 20, 21, 22, when we started seeing inflation, we also had to deal with that as well. 230 00:17:12,563.893 --> 00:17:15,443.893 But that's a different story for a different time. 231 00:17:15,498.893 --> 00:17:19,608.893 So there's, there were things we could do. 232 00:17:19,608.893 --> 00:17:20,688.893 We could maneuver. 233 00:17:20,748.893 --> 00:17:20,958.893 Yes. 234 00:17:21,108.893 --> 00:17:25,918.893 Reallocate resources in some ways absolutely keep us lean and mean. 235 00:17:26,8.893 --> 00:17:32,378.893 Yes, And continue on this time with tariffs, being that it is this. 236 00:17:33,98.893 --> 00:17:36,749.893 Gestalt of declining wine sales, right? Yeah. 237 00:17:36,754.893 --> 00:17:36,808.893 Yeah. 238 00:17:36,808.893 --> 00:17:40,678.893 A new sort of neo prohibitionist movement coming in. 239 00:17:40,768.893 --> 00:17:40,948.893 Yes. 240 00:17:41,458.893 --> 00:17:45,598.893 We do wanna say there's always opportunity in crisis. 241 00:17:45,598.893 --> 00:17:46,18.893 Absolutely. 242 00:17:46,48.893 --> 00:17:48,333.893 This seems particularly formidable. 243 00:17:48,643.893 --> 00:17:48,933.893 What. 244 00:17:49,633.893 --> 00:18:01,418.893 What would we, what do we wanna say to folks? Oh I think, to be honest, one of the things we could, can do is I think we should have a whole podcast just on the changing demographics of wine drinkers. 245 00:18:01,418.893 --> 00:18:02,408.893 'cause that's fascinating. 246 00:18:02,708.893 --> 00:18:02,770.893 Oh, I love that. 247 00:18:02,770.893 --> 00:18:02,771.893 Yes. 248 00:18:02,888.893 --> 00:18:03,668.893 We really should. 249 00:18:03,668.893 --> 00:18:07,743.893 Let's just talk about, 'cause I am not that concerned about it right now at all. 250 00:18:07,743.893 --> 00:18:07,878.893 Okay. 251 00:18:07,908.893 --> 00:18:10,593.893 That is not and there's reasons why Interesting. 252 00:18:10,593.893 --> 00:18:10,893.893 I am. 253 00:18:11,103.893 --> 00:18:13,23.893 And, but that's a whole, so if we just. 254 00:18:15,963.893 --> 00:18:19,173.893 'cause what we did and a lot of, so we did it on a small scale. 255 00:18:19,173.893 --> 00:18:20,823.893 We're a small, like the school is small. 256 00:18:21,273.893 --> 00:18:28,713.893 So what we did was six months ago I started buying a lot of the wines we assume was gonna be hit with tariffs. 257 00:18:29,193.893 --> 00:18:34,808.893 So right now, if you come to my house pretty much I have one entire floor of my house. 258 00:18:35,498.893 --> 00:18:35,778.893 Just. 259 00:18:36,243.893 --> 00:18:41,763.893 Stacked with wine bottle wine cases, just so it's everywhere. 260 00:18:41,763.893 --> 00:18:45,153.893 Ev like I have a ping pong table, it's stacked all the way up under there. 261 00:18:45,453.893 --> 00:18:50,193.893 It's all around, this is my, the floor where have my gym and my television, all that. 262 00:18:50,193.893 --> 00:18:51,63.893 So it's just crazy. 263 00:18:51,63.893 --> 00:18:52,23.893 It's stacked everywhere. 264 00:18:52,653.893 --> 00:18:57,933.893 Not to mention the school's actual wine cellars, which are completely stacked to the gills as well. 265 00:18:58,253.893 --> 00:19:07,133.893 And I'm gonna place another order because, as well, before these tax, they really come hold 'cause we're starting to plan for our advanced Somalia programming. 266 00:19:07,133.893 --> 00:19:11,543.893 And so we're getting those out of the cell and now we're gonna bring even more that last round. 267 00:19:11,543.893 --> 00:19:12,983.893 So that, sure. 268 00:19:13,643.893 --> 00:19:18,863.893 That'll give me us about a good year-ish. 269 00:19:19,133.893 --> 00:19:21,803.893 But I'm gonna still, we're gonna, the costs are still gonna go up. 270 00:19:21,803.893 --> 00:19:26,303.893 'cause mind you, there were already tariffs in place, right? These are not new tariffs. 271 00:19:26,693.893 --> 00:19:28,643.893 These are layered on top of old tariffs. 272 00:19:29,558.893 --> 00:19:37,928.893 And why costs are already, people probably don't realize this 'cause you don't really think about it, but they're 20 to 25% higher than they were. 273 00:19:38,558.893 --> 00:19:42,978.893 So for instance in 2016, there were. 274 00:19:43,383.893 --> 00:19:49,113.893 A specific bottle of Chianti that was $15 and it was a classic part of our Wine 1 0 1. 275 00:19:49,653.893 --> 00:19:51,963.893 That bottle now goes for $20. 276 00:19:52,203.893 --> 00:19:56,643.893 So that's the change of price points that we have all seen already. 277 00:19:56,673.893 --> 00:19:59,833.893 And that's of course one of the reasons why wine sales have dropped off. 278 00:20:00,658.893 --> 00:20:03,468.893 Different subject, but that's it's attached to it. 279 00:20:03,468.893 --> 00:20:04,548.893 So you see that. 280 00:20:04,998.893 --> 00:20:08,288.893 Now what we're gonna see is that within a year or two. 281 00:20:08,293.893 --> 00:20:08,483.893 Yeah. 282 00:20:08,558.893 --> 00:20:08,828.893 Yeah. 283 00:20:08,888.893 --> 00:20:14,338.893 Is it going to be that bottle, that was a decade ago, $15 now gonna be 25, 30. 284 00:20:14,698.893 --> 00:20:15,838.893 It's very possible. 285 00:20:15,928.893 --> 00:20:15,988.893 Yeah. 286 00:20:16,993.893 --> 00:20:24,363.893 So that just changes consumption patterns, but doesn't have to change how we teach at the school or hopefully how much we have to charge people. 287 00:20:24,363.893 --> 00:20:32,223.893 I think I've, we've planned far enough ahead that if for the next two years, if we're in a high cost environment, we're gonna be okay. 288 00:20:32,973.893 --> 00:20:41,193.893 That said, I also know that some of the really smart not as much the distributors, but the importers have been really smart. 289 00:20:41,433.893 --> 00:20:44,403.893 And if you look at and how you can tell. 290 00:20:45,18.893 --> 00:21:01,88.893 Is how, what's the, how much is, are environmentally controlled, bonded warehouses for wine? How are they looking? Right now they're filled capacity, like the every square inch has been rented out on the East coast. 291 00:21:01,268.893 --> 00:21:02,438.893 I'm not sure about the West coast. 292 00:21:02,438.893 --> 00:21:15,753.893 But on East Coast, especially in places like New York, which is a very big import center for wine, you're seeing massive numbers of boats coming in and people warehousing wines like they never usually do. 293 00:21:15,853.893 --> 00:21:20,358.893 Usually you would expect to have somewhere between 20 and 30% vacancy in these warehouses. 294 00:21:20,358.893 --> 00:21:21,888.893 But right now you're getting close to zero. 295 00:21:22,428.893 --> 00:21:24,588.893 So right now people have already thought ahead. 296 00:21:24,588.893 --> 00:21:27,348.893 They're planning, importers are thinking ahead. 297 00:21:27,558.893 --> 00:21:28,668.893 'cause they don't wanna get hit again. 298 00:21:28,718.893 --> 00:21:29,768.893 Because they, everyone got hit. 299 00:21:30,308.893 --> 00:21:32,78.893 Here's because this is the brutal thing. 300 00:21:32,618.893 --> 00:21:35,888.893 So you can have your contracts on both sides. 301 00:21:36,248.893 --> 00:21:40,868.893 You have an importer who's doing this deal, right? They're the one who's putting out all the money. 302 00:21:42,98.893 --> 00:21:51,458.893 They've made deals with your French wine makers, your Spanish wine makers, this contracts, how much they're gonna spay, how much they're gonna spend for the wines they're bringing to the United States. 303 00:21:51,728.893 --> 00:21:54,698.893 And then they also have contracts with other distributors. 304 00:21:55,98.893 --> 00:22:08,868.893 And they may even be co-owned by that distributor, but they have contracts about how much they're going to, pay that they're gonna get paid for these wines, and they've added in their 15 to 50% margin in that. 305 00:22:10,248.893 --> 00:22:22,8.893 However, if you have tariffs that come from after they ship from that country of origin and they're on the water, and this is gonna be months and months, right? These boats don't go fast. 306 00:22:22,8.893 --> 00:22:25,68.893 So if they're already on the water, when those tariffs come in. 307 00:22:26,103.893 --> 00:22:43,613.893 You have no choice but either to let those wines sit at that port, which you've already paid for, and let them go bad or pay your tariff right then, right hand that cash over to the government because you can't get it out of the warehouse unless you pay that. 308 00:22:44,108.893 --> 00:22:44,618.893 Tariff. 309 00:22:45,698.893 --> 00:22:46,328.893 That's brutal. 310 00:22:46,358.893 --> 00:22:48,788.893 Yeah, because, so you have to be thinking months and months ahead. 311 00:22:48,788.893 --> 00:22:53,348.893 Usually you're thinking at least six months to a year ahead, which is great agricultural time. 312 00:22:53,678.893 --> 00:23:05,923.893 We are always thinking ahead the people who were in that place, realizing we've already been here before let's just assure that we make sure our wines in the states, in the country before this happens. 313 00:23:06,993.893 --> 00:23:09,743.893 If you didn't think that way, then you are in big trouble. 314 00:23:09,743.893 --> 00:23:11,358.893 And you probably may go outta business. 315 00:23:11,458.893 --> 00:23:11,848.893 But yeah. 316 00:23:11,848.893 --> 00:23:15,238.893 But here's where this is. 317 00:23:15,448.893 --> 00:23:16,408.893 This is business. 318 00:23:17,68.893 --> 00:23:18,58.893 This is business. 319 00:23:18,58.893 --> 00:23:18,62.893 Here's, this is business. 320 00:23:19,108.893 --> 00:23:19,228.893 Yes. 321 00:23:19,228.893 --> 00:23:19,858.893 Get creative. 322 00:23:19,918.893 --> 00:23:20,338.893 Yeah. 323 00:23:20,488.893 --> 00:23:20,848.893 Okay. 324 00:23:20,848.893 --> 00:23:36,463.893 So if you are kind of person who's wants to be in the wine trade, now's the time because all of a sudden, so say you're say that Chateau Doah in Bordeaux is imported into this country by John Smith, incorporated. 325 00:23:36,513.893 --> 00:23:38,343.893 Wine importers. 326 00:23:38,863.893 --> 00:23:41,983.893 If John Smith incorporated wine importers goes out of business. 327 00:23:41,983.893 --> 00:23:47,623.893 Now, Chateau Doah has no way to get into the US market, right? They're stuck. 328 00:23:47,623.893 --> 00:23:49,453.893 They have nothing Now. 329 00:23:49,978.893 --> 00:24:00,58.893 This is a huge part of their income, right? Because anybody who imports in the United States this we are a big, even though we are like these tiny little fiefdoms, we're a big economy. 330 00:24:00,58.893 --> 00:24:03,358.893 Each of our states are bigger than most countries in Europe. 331 00:24:03,898.893 --> 00:24:08,698.893 So they need somebody and hey. 332 00:24:09,448.893 --> 00:24:14,28.893 If you're just coming into the market now, you, now you do not have all those contracts. 333 00:24:14,28.893 --> 00:24:15,678.893 You do not have all those employee costs. 334 00:24:15,678.893 --> 00:24:17,118.893 You do not have none of those costs. 335 00:24:17,958.893 --> 00:24:26,328.893 You are now free to make a contract with Chateau Doda and stop bringing 'em to this country and probably at a, they're gonna be happy to pay a lower rate. 336 00:24:28,38.893 --> 00:24:32,688.893 Pay higher for you to, they're gonna take a deep, deeper cut on their margins. 337 00:24:32,958.893 --> 00:24:34,788.893 You're gonna be able to bring it in. 338 00:24:35,418.893 --> 00:24:39,408.893 And now you've started your own company and now you have a very competitive company. 339 00:24:39,438.893 --> 00:24:44,388.893 And that's what's really important now, is that there's a lot of companies that did not plan ahead. 340 00:24:45,228.893 --> 00:24:47,868.893 And now they're gonna be right for somebody else to come in. 341 00:24:47,988.893 --> 00:24:55,718.893 And because everything in the wine trade is small scale, that means that a company of one or two or three people can be really competitive. 342 00:24:56,378.893 --> 00:24:59,18.893 Just wait and see right now. 343 00:24:59,198.893 --> 00:25:01,88.893 Huge amounts of upside right now. 344 00:25:01,718.893 --> 00:25:03,68.893 Disruptions in the marketplace. 345 00:25:03,248.893 --> 00:25:04,418.893 Always now. 346 00:25:04,658.893 --> 00:25:07,118.893 And that's what, there's really good upsides here. 347 00:25:07,508.893 --> 00:25:08,228.893 There's a lot of pain. 348 00:25:08,318.893 --> 00:25:10,238.893 There's gonna be, I'm not joking, there is a lot of pain. 349 00:25:10,338.893 --> 00:25:10,758.893 You. 350 00:25:11,148.893 --> 00:25:13,458.893 Like running the wine school is going to be hard. 351 00:25:13,488.893 --> 00:25:14,958.893 Because, yeah. 352 00:25:15,338.893 --> 00:25:20,278.893 'Cause not only are people afraid, 'cause when tariffs come in, everyone's afraid of higher costs. 353 00:25:20,638.893 --> 00:25:28,858.893 But the funny thing is I know in six months from now that people are gonna look at how much wine costs in their wine shop be horrified. 354 00:25:28,858.893 --> 00:25:32,38.893 And then they realize that, oh, they can take a class at the wine school. 355 00:25:32,338.893 --> 00:25:36,838.893 And it's actually like a really good deal now because we're not. 356 00:25:36,913.893 --> 00:25:39,103.893 Upcharging 'cause we already had our wines. 357 00:25:39,323.893 --> 00:25:40,643.893 We're not worried about that. 358 00:25:40,643.893 --> 00:25:44,363.893 In fact, actually the wine costs really don't even come into play into our costs anyways. 359 00:25:45,113.893 --> 00:25:50,543.893 So it's just, yeah, there's gonna be upsides for us as well. 360 00:25:50,543.893 --> 00:25:52,698.893 But yeah it's hard. 361 00:25:52,728.893 --> 00:25:53,328.893 It's really hard. 362 00:25:53,628.893 --> 00:25:54,108.893 Really hard. 363 00:25:54,318.893 --> 00:25:55,248.893 Not joking really hard. 364 00:25:55,248.893 --> 00:25:57,348.893 It's gonna, it's really a lot of pain, a lot of heart. 365 00:25:57,588.893 --> 00:25:59,928.893 There's gonna be a lot of heartbreaking stories coming out. 366 00:26:01,188.893 --> 00:26:01,518.893 Yeah. 367 00:26:01,848.893 --> 00:26:04,668.893 To seize upon that opportunity to capitalize on it. 368 00:26:04,668.893 --> 00:26:09,198.893 Now that you're gonna have a pretty, you're gonna have to have a pretty high risk tolerance. 369 00:26:09,198.893 --> 00:26:10,158.893 It's not Oh, yeah. 370 00:26:10,158.893 --> 00:26:11,748.893 Gonna be guaranteed. 371 00:26:12,198.893 --> 00:26:18,528.893 The best things are to think creatively and stay lean, stay nimble. 372 00:26:18,558.893 --> 00:26:26,613.893 Don't, bricks and mortar any old models, any old paradigms, shift away from that thinking. 373 00:26:26,613.893 --> 00:26:27,333.893 And really, I. 374 00:26:28,258.893 --> 00:26:33,528.893 Put yourself into the mindset that things tariffs may not go away. 375 00:26:33,618.893 --> 00:26:35,208.893 They simply may not, they may not. 376 00:26:35,258.893 --> 00:26:36,88.893 This, Oh, you're right. 377 00:26:36,88.893 --> 00:26:39,748.893 And this may be the best thing for the East Coast wine production you've ever seen. 378 00:26:39,838.893 --> 00:26:40,288.893 Sure. 379 00:26:40,318.893 --> 00:26:47,228.893 This really could be the the boost that a lot of vibrant small wine regions may have. 380 00:26:47,598.893 --> 00:26:55,368.893 Now they actually may be able to compete even though our land costs are so high, all of a sudden, those. 381 00:26:57,353.893 --> 00:27:01,13.893 Finger Lake Rieslings that are 20, $30. 382 00:27:01,73.893 --> 00:27:09,113.893 Oh, they're now competitive with the German Rieslings that used to be 15, 20, and now are 20, 30, 35. 383 00:27:09,983.893 --> 00:27:10,403.893 Okay. 384 00:27:10,823.893 --> 00:27:12,203.893 Now we get to start competing. 385 00:27:12,713.893 --> 00:27:14,243.893 That might be a really good thing. 386 00:27:14,303.893 --> 00:27:24,188.893 Now might be, if you were thinking about opening up a wine winery on the east coast or, or New Mexico or Washington State, this is really gonna be a time to shine. 387 00:27:24,638.893 --> 00:27:29,438.893 Oh, you wanna do a Bordeaux style? Like really crisp and lean or maybe even a Burgundian style Pinot. 388 00:27:30,128.893 --> 00:27:38,108.893 Maybe it's the time because there's gonna be a more of a marketplace for that for the next, but depends on how long you think the this is gonna last. 389 00:27:38,138.893 --> 00:27:39,638.893 'cause again, agricultural time. 390 00:27:40,83.893 --> 00:27:47,593.893 If we're thinking tariffs and this economy is gonna be like this for the next 10 years, then it makes sense to start making wines on the East coast. 391 00:27:47,653.893 --> 00:27:47,803.893 Yes. 392 00:27:48,13.893 --> 00:27:50,443.893 If this is a blip, then maybe not right. 393 00:27:50,743.893 --> 00:27:52,733.893 But this could be a big change. 394 00:27:52,763.893 --> 00:27:54,503.893 And there's always a. 395 00:27:54,503.893 --> 00:27:55,993.893 There's always negatives and there's always positive. 396 00:27:55,993.893 --> 00:28:02,263.893 I'm not saying there's a lot of positives here, but I'm saying there are some, there are places to look at to be hopeful and to be in the wine trade. 397 00:28:02,723.893 --> 00:28:04,823.893 And that's the most important thing we drink for a living. 398 00:28:05,123.893 --> 00:28:07,763.893 Not everybody, gets to do this. 399 00:28:08,293.893 --> 00:28:09,523.893 Not everybody admits it. 400 00:28:09,703.893 --> 00:28:10,93.893 That's right. 401 00:28:15,778.893 --> 00:28:16,408.893 That's awesome. 402 00:28:16,828.893 --> 00:28:17,548.893 Oh, that's true. 403 00:28:17,548.893 --> 00:28:17,968.893 True. 404 00:28:17,968.893 --> 00:28:18,688.893 It's so true. 405 00:28:18,988.893 --> 00:28:22,648.893 But yeah, and yeah, I'm not saying that I wake up every morning, go, yay. 406 00:28:22,708.893 --> 00:28:26,938.893 No it's hard because I'm gonna see a lot of, again, a lot of good friends suffer. 407 00:28:27,148.893 --> 00:28:28,18.893 I'm gonna suffer. 408 00:28:28,68.893 --> 00:28:30,468.893 It's not like this isn't gonna be easy, but there are. 409 00:28:31,398.893 --> 00:28:35,958.893 If you're in business and you wanna thrive, you do have to look at what's possible next. 410 00:28:35,988.893 --> 00:28:36,918.893 'cause there always is. 411 00:28:37,398.893 --> 00:28:37,488.893 Yes. 412 00:28:37,488.893 --> 00:28:40,258.893 And that's my real point is don't just despair. 413 00:28:40,738.893 --> 00:28:48,318.893 Look at what's possible and how you can be a part of the possibility and not drag everyone else down the wine trade. 414 00:28:48,653.893 --> 00:28:51,803.893 We're a bunch of, Hey, we're degenerate, we're weird. 415 00:28:52,73.893 --> 00:28:56,603.893 There's like antisocial, like this is common in our trade. 416 00:28:57,413.893 --> 00:28:58,823.893 Depression does run. 417 00:28:58,873.893 --> 00:29:03,633.893 I've so many people I know in the wine trade that, suffer from some sort of depression or some sort of. 418 00:29:04,813.893 --> 00:29:06,728.893 Thing you don't, I can't imagine. 419 00:29:07,8.893 --> 00:29:07,808.893 I don't right what you're talking about. 420 00:29:07,968.893 --> 00:29:09,208.893 I don't, Ooh, I don't know. 421 00:29:09,973.893 --> 00:29:14,493.893 But, so it's really important for everyone to understand, that we have to, look at the bright side of this. 422 00:29:15,93.893 --> 00:29:16,323.893 There are plenty of negatives. 423 00:29:16,323.893 --> 00:29:17,763.893 We should have put planning ahead of time. 424 00:29:17,763.893 --> 00:29:22,423.893 If you didn't plan shame on you just know you made a mistake and move on. 425 00:29:24,853.893 --> 00:29:25,273.893 But then. 426 00:29:25,688.893 --> 00:29:26,468.893 We have to look, okay. 427 00:29:26,468.893 --> 00:29:37,258.893 What does this open up for us? And I really one of the things that I will be very bullish about is the East coast like this boost that this could bring to local production? Yeah. 428 00:29:37,348.893 --> 00:29:49,608.893 To be honest, I'm in discussions with about opening up a cooperative winery in the Pennsylvania area, just largely because of this is going to be BoomTown for smaller production. 429 00:29:50,988.893 --> 00:29:52,248.893 In United States. 430 00:29:52,378.893 --> 00:30:06,328.893 And if, especially if you don't have distribution, especially if you are direct to consumer, this could truly be, if you're not relying on the distribution system, this is an amazing time, absolutely amazing time to be in business. 431 00:30:06,478.893 --> 00:30:08,938.893 So that's where I'm at, Keith, I think. 432 00:30:09,623.893 --> 00:30:10,573.893 You brought it home. 433 00:30:10,813.893 --> 00:30:12,973.893 You really, I You landed the plane. 434 00:30:12,973.893 --> 00:30:13,963.893 It was tough. 435 00:30:14,53.893 --> 00:30:15,253.893 Yeah, it was turbulent. 436 00:30:15,733.893 --> 00:30:16,243.893 Oh yeah. 437 00:30:16,243.893 --> 00:30:16,753.893 Oh no. 438 00:30:16,753.893 --> 00:30:18,733.893 People were jumping out of the, oh yeah. 439 00:30:18,733.893 --> 00:30:19,453.893 It was awful. 440 00:30:19,753.893 --> 00:30:21,673.893 But I landed and here's the thing. 441 00:30:21,973.893 --> 00:30:26,563.893 You've had a little Pomeranian in your lap who's notoriously loud and grumpy. 442 00:30:26,563.893 --> 00:30:27,733.893 He did not bark once. 443 00:30:28,123.893 --> 00:30:29,203.893 I don't know how you did that. 444 00:30:29,203.893 --> 00:30:32,473.893 I assume you did the thing where you just put a bag over his head or something. 445 00:30:32,833.893 --> 00:30:35,707.893 Is he still alive? He, he I wanna see the signs of life. 446 00:30:35,737.893 --> 00:30:37,387.893 He is proof of life here. 447 00:30:37,712.893 --> 00:30:38,282.893 Oh God. 448 00:30:38,312.893 --> 00:30:38,552.893 Okay. 449 00:30:38,612.893 --> 00:30:39,392.893 Oh, yeah. 450 00:30:39,482.893 --> 00:30:40,382.893 All yeah. 451 00:30:40,502.893 --> 00:30:40,952.893 Dancing. 452 00:30:41,462.893 --> 00:30:45,192.893 Okay, then what Alana is doing with this poor dog is so humiliating. 453 00:30:45,242.893 --> 00:30:48,182.893 She's basically gave him a top hat and he's dancing. 454 00:30:48,692.893 --> 00:30:49,772.893 Oh, this is disgusting. 455 00:30:49,772.893 --> 00:30:50,552.893 That poor bastard. 456 00:30:50,702.893 --> 00:30:53,372.893 All right, let's not torture our friends. 457 00:30:55,452.893 --> 00:30:58,332.893 With any more images of Charles, but thanks everyone. 458 00:30:58,332.893 --> 00:30:59,802.893 Hopefully this was helpful. 459 00:30:59,852.893 --> 00:31:00,722.893 I feel better. 460 00:31:00,812.893 --> 00:31:01,67.893 Oh, good. 461 00:31:01,107.893 --> 00:31:02,307.893 I hope actually I do. 462 00:31:02,307.893 --> 00:31:02,547.893 Good. 463 00:31:02,907.893 --> 00:31:03,107.893 I do. 464 00:31:03,482.893 --> 00:31:03,902.893 Yeah. 465 00:31:03,902.893 --> 00:31:04,802.893 No, ask somebody. 466 00:31:04,802.893 --> 00:31:05,72.893 Yeah. 467 00:31:05,72.893 --> 00:31:05,282.893 Yeah. 468 00:31:05,282.893 --> 00:31:07,952.893 Ask your favorite manic depressive wine school owner. 469 00:31:08,2.893 --> 00:31:09,172.893 Questions Very depressing. 470 00:31:09,172.893 --> 00:31:12,257.893 He tends to actually, I'm always depressed, so I have some. 471 00:31:12,257.893 --> 00:31:13,127.893 Good for you. 472 00:31:13,697.893 --> 00:31:14,387.893 There you go. 473 00:31:14,467.893 --> 00:31:16,387.893 I have to about this every day, so yeah. 474 00:31:16,387.893 --> 00:31:16,862.893 There you are. 475 00:31:20,122.893 --> 00:31:20,722.893 I got cope. 476 00:31:21,502.893 --> 00:31:24,22.893 You got cope i's like it. 477 00:31:24,202.893 --> 00:31:26,512.893 Alright folks, have a fantastic day. 478 00:31:26,602.893 --> 00:31:28,462.893 And look for the opportunities they're there. 479 00:31:28,942.893 --> 00:31:29,842.893 That's wonderful. 480 00:31:29,842.893 --> 00:31:30,982.893 We will hear you. 481 00:31:30,982.893 --> 00:31:32,632.893 We'll see you soon. 482 00:31:32,632.893 --> 00:31:35,672.893 You'll hear us soon and subscribe as well, please. 483 00:31:35,732.893 --> 00:31:36,62.893 Yes. 484 00:31:36,62.893 --> 00:31:38,552.893 Tell your friends and neighbors, we really want to grow this. 485 00:31:38,972.893 --> 00:31:43,382.893 Please let them know and it well if you have anything you want us to talk about, let us know too. 486 00:31:43,382.893 --> 00:31:43,682.893 Absolutely. 487 00:31:43,682.893 --> 00:31:45,212.893 Alright, CIA folks. 488 00:31:45,227.893 --> 00:31:45,647.893 Cheers. 489 00:31:47,456.215 --> 00:31:54,436.215 Thank you for listening! If you like what you hear, please rate and review this Podcast on Apple Podcasts or whereever you listen. 490 00:31:55,56.215 --> 00:31:58,506.215 It means a lot to all of us here at the National Wine School. 491 00:31:59,36.215 --> 00:32:05,506.215 Cheers! For more information about the Wine School and it's programs go to wine school-dot-u-s.