Show hmftiJmumi1wiwoda r 6F Easy Prey for Takeovers Sunday June 26 1988 The Salt Lake Tribune Family Owned Sherry Houses Dying on the Vine e i - I By Richard Lorant Associated Press Writer JEREZ DE LA FRONTERA Spain — After flourishing for two centuries many of the family owned wineries that turned the Spanish sherry trade into a business are on the rocks As the industry slowly emerges crisis multinafrom a decade-lon- g tional corporations have won control of some of the sherry houscb and have lost pitched battles for others In addition policies aimed at boosting sagging sales prices and prestige in traditional markets like Britain may hurt some smaller companies that rely on bulk sales rather than brand names executives and owners said recently Last year sherry makers sold 160 bottles worldmillion wide down a third from 1979 Sales to Britain plummeted from 101 million bottles to 50 million bottles over the same period "The sector is going to have to suffer through a readjustment period if - I ' 1 g 4 i ' f ! I r f 11 ? 416:-- i : billion-dollar-aye- - 5 s P - - '' IT - 1 t t Ar ''''' 6 ' N A' ‘ 11 1tEv - )"--- '' 414 I 114 14 best-know- n 4 - " 14 i' 1 ':‘'" k i - i i t'''''''' - 1')1 - - ot 'I - t 1 I - N ' f -- k - - —Associated ar Ness laserphoto Jose Ignacio Domecq Gonzales tries a "fino" in his tasting room at Domecq bodega in Jerez de La Frontera Spain it wants to survive There will be a process of natural selection" said Jose Joaquin Ysasi-Ysasmen- di chairman of Pedro Domecq Only two of the seven companies whose representatives meet regularly at a round table reserved for the biggest sherry firms now actually belong to famous families — Osborne and Gonzalez John Harvey and Sons Croft Sandeman and Bobadilla have been sold to outsiders The British multinational Allied Lyons controls Pedro Domecq founded in 1730 and the oldest of the major wineries or bode-ga- s All true sherry comes from grapes triangle of grown in a 45000-acr- e vineyards around Jerez a few miles in from Spain's Atlantic coast Sherry is aged according to a process that blends wine from each harvest's grapes with that of preceding years Shakespeare called the wine "sacke" but the name that stuck was sherry an Anglicized version of Sherrish the Moorish name for Jerez the trade has been controlled by the descendants of a few dozen English Irish and Spanish families that took charge century starting in the mid-18t- h That all began to change in the early 1980s when a combination of bad planning and poor timing left many family businesses easy prey for multinationals on the prowl for bargains executives and owners said sales boom that During a peaked in 1979 at 22 million bottles many wineries went heavily into debt to plant new vineyards But the boom faded as production costs were driven higher by the spike in world oil prices leaving the indebted wineries swimming in underpriced sherry "Everyone planted like crazy and when we looked up we realized we For generations Alan Aida Joins Other 11ASH' Stars In IBM's New TV Print Advertisements NEW YORK (AP) — Actor Alan Alda has teamed up for the first time : with an ensemble of stars from the "MAsSH" television series in : some new advertising for Interim tional Buriness Machines Corp An IBM commercial in which Aida and other former "MASsH" per' formers pose as workers in the same and f office has been completed : should be appearing on national tele vision soon an IBM spokesman said ' Wednesday Print versions of the ad also are being prepared In the spring of 1987 IBM round- n actors who ed up about a had appeared in the popular televi- : k half-doze- : - : : PHILADELPHIA (UPI) — Month- ly rents at US retirement centers fell 7 percent in 1987 which may re- fleet an industry trend to separate the cost of housing from other ser- vices such as furnished meals and housekeeping a study on retirement costs said The median rate for a onebedroom unit in a rental facility dropped Card Industry : the long-runnin- "MASH" g Gets Personal NEW YORK (UPI) — Sales of personalized holiday greeting cards have risen 10 percent in the last year accounting for more than $100 million of the $34 billion greeting card industry the vice president of a major greeting card company says Much of this growth can be attrib uted to the corporate market which accounts for 33 percent of greeting card sales said David Forer vice Brett-Fore- r : president of Greetings "With the practice of business gift: giving raising thorny ethical issues and with mergers and takeovers in: creasing the importance of maintaining business relationships company executives are turning to holiday personalized cards as an acceptable means of staying in touch" he said Forer said there are trends in busi ness use of personalized messages and signatures in the cards - 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STOCKBROKERS Diez-Merit- six-ye- :1 to $825 a month in 1987 from $888 in 1986 according to the Retirement Housing Industry 1987 study by the Public accounting firm of Laventhol & Horwath "Elderly people are not a homogeneous group" said James F man L&H's national director for health care consulting and public finance "They don't all need the same services and like other people they don't want to pay for services they don't need or use" Many retirement facilities appear to be unbundling the number and types of services they offer allowing residents to pick and choose the type of care they require he said One example he said is the "adult congregrate living facility" where people with deteriorating abilities are able to remain in their apartments because such optional services meals and housekeeping as are available Services at this type of facility may be provided by either the facility's staff or contracted out If not needed the resident need not pay for these services Sherman said L&H plans another study to learn more about the industry trend in separating service costs from those of housing CAUGHT IN A CASH DUE TO IDLE se- at Retirement Centers Rents Down 7 : IBM unveiled a new line of midrange computers Aida and Morgan are shown walking into a stark office to have a chat A small plant can been seen in the hallway As the commercial progresses sequential scenes are shown in which more and more people including Swit Burghoff and Jamie Farr show up for sessions which are described as a pow-wothen a meeting and finally a conference The plant in the hallway is bigger in each scene A small computer shows up in the second scene and bigger models turn up in subsequent scenes sion series including Harry Morgan Loretta Swit and Gary Burghoff and had them pose as office workers in commercials for IBM's new family of Personal System-- 2 computers Alda who was Hawkeye Pierce in Byasses from selling to Seagram by buying out their longtime English partners this month Pedro Domecq had group sales of $232 million and profits of $123 million last year Allied Lyons controls more than 50 percent of the company's stock through its own holdings and its subsidiary Hiram Walker which owns a large number of shares several executives said Board member Jose Ignacio Domecq Gonzalez said it was difficult to maintain a strong family presence In many bodegas because shares have been spread out with each successive generation He said at least 120 Domecq heirs now own part of the company Pedro Osborne Gonzalez-Byas- s Domecq and the other major wineries see boosting sherry's price and image as the key to the sector's full recovery The Jerez Regulating Council has urged growers to rip up vines and encouraged wineries to distill products in an effort to dry up excess stocks counThe government-sponsorecil recently told vintners they would have until March 1993 to eliminate barrel sales which make up 40 percent of total exports and have been blamed for driving down prices Nearly all the barrel sales go to Great Britain and the Netherlands where exporters say unauthorized blending is not an uncommon had far more vineyards than Jerez needed" said Lorenzo Diez Lacave who sold the family o to the business Rumasa holding company in 'our UNIX® or XTNIX® operating system UrdPerfeet Corporation has chosen CnIAX as its preferred dealer in the Wisatdr front area MIAX is a computer consulting firm experienced in all areas of computer management and support In fact not only does CINIAX sell VirdPerfect for your ICON NCR AT&T UNIMS or other mini or micro system they provide complete training and con sultation to keep it running effectively as well CYMV( also offers a full selection of rt state-of-the-a- System V computer technology from ICON International For information on how to get your system and VordPerfect on UNIX mini-comput- 7 er speaking terms call CnftX at (801) 363-124- 1 mmiumumuniloinionginown CYMAX1 Computer Management Support Systems South 700 East Suite 3R Salt Lake City Utah 84102-281515 2 (801) 363-124- 1 Itbrditrfect is a nwigered trademark of rboill75li Corponmon VNIXa registered trademark of ATCT Laboratories XEVLV is a 'IRA:Mt' Inkmark thcmsolt Coppom- non Ail other prwillicb and brand mono trudernartei or trudernarth of their are regivered reliable COM paniel 563-542- 3 377-530- 0 hon 4°41 3000 k)19 4- - |