NOVATO, CA -- (MARKET WIRE) -- 02/10/12 -- The Preliminary California Grape Crush Report released today shows the total crop of winegrapes harvested in 2011 was 3.34 million tons, down 7% from 2010 -- and right on the 5 year average. While the crop was average overall, many key varieties posted sharp declines, especially in the Coastal regions.
Key Findings:
"Even though the crop in total was equal to the 5-year average, the key fact is that it was far short of demand. Consumer sales continue to grow, and wineries would have liked to have crushed hundreds of thousands of additional tons."
-Brian Clements, Vice President, Turrentine Brokerage
"Of the major varieties, Chardonnay, Cabernet Sauvignon, Merlot, Sauvignon Blanc, Zinfandel, and Syrah all posted sharp declines from 2010. Only two major varieties had larger crops in 2011: Pinot Noir and Pinot Grigio, which increased due to recent new plantings and healthy yields in the Central Valley. Pinot Noir was down in the Coastal areas but statewide both Pinot Noir and Pinot Grigio had their largest crops ever in 2011. Basically, demand will exceed supply for the near future, keeping prices firm."
-Steve Fredricks, President, Turrentine Brokerage
"The generic varieties in the Central Valley were expected to be larger in 2011, but, in fact, only Rubired increased significantly -- up 16%. Ruby Cab, Barbera, Chenin Blanc, and French Colombard all declined.
-Erica Moyer, Partner/Broker, Turrentine Brokerage
"The crop of Zinfandel in the Lodi area was down 25% from 2010, caused largely by lower yields, and the continued shift towards red wine. This will keep the market active for 2012 grapes and bulk wine."
-Erica Moyer, Partner/Broker, Turrentine Brokerage
"The Muscat varieties -- used for the quickly growing Moscato category -- increased only 7%, or the equivalent of only 380,000 cases. Moscato has been posting sales growth of well over 75%.
-Steve Fredricks, President, Turrentine Brokerage
"While the crop in the North Coast was down 11%, it could potentially have been much smaller if growers and wineries hadn't cooperated to harvest grapes early in many cases."
-Brian Clements, Vice President, Turrentine Brokerage
"Overall, Chardonnay, the largest variety, was down a substantial 15% statewide in 2011 compared to 2010, which is a decrease of 15 million gallons or over 6 million cases. Cabernet Sauvignon, the largest red variety, declined 14%, a decrease of 10 million gallons, or over 4 million cases."
-Brian Clements, Vice President, Turrentine Brokerage
"The Central Coast crop was hammered by frost in April of 2011 -- which sliced the 2011 crop down 28% from 2010. San Luis Obispo and Santa Barbara Counties were hit especially hard -- down 35%! To put this in absolute terms, the Central Coast harvested 150,000 fewer tons in 2011 than in 2010."
-Matt Turrentine, Partner/Broker, Turrentine Brokerage
"This average sized crop comes at a time when industry inventories are at record lows. There is increased demand for all the major varieties -- most of which experienced lighter crops. Supply will remain short for the foreseeable future, keeping prices strong for grapes and bulk wine. Ultimately, consumer prices will increase as well."
-Steve Fredricks, President, Turrentine Brokerage
About Turrentine Brokerage Turrentine Brokerage, founded in 1973, serves as trusted and strategic advisors to growers, wineries, and financiers and specializes in the strategic sourcing of wine grapes and bulk wine from the major growing areas across the globe. Working with thousands of wineries worldwide, and with over 2,000 growers, this experienced team has negotiated transactions between buyers and sellers valued at more than $1.5 billion over the past decade.
CONTACT: Brian Clements Vice President / Partner (707) 495-8151 specialty - grapes from all of California, especially Napa, Sonoma, Mendocino & Lake Counties Steve Fredricks President / Partner (415) 847-0603 specialty - grapes and bulk wine from all of California and around the world Erica Moyer Partner/Broker (209) 988-7334 specialty - grapes from the San Joaquin and Sacramento Valleys and the Central Coast Matt Turrentine Partner/Broker (805) 312-1828 specialty - grapes from the Central Coast.
Source: Turrentine Brokerage
TOLEDO, Ohio, Feb. 10, 2012 /PRNewswire/ -- Block Communications, Inc. (the "Company") announced today the results of its previously announced cash tender offer and consent solicitation (the "Tender Offer") with respect to its outstanding 8 1/4% senior notes due 2015 (the "Old Notes"). The Tender Offer was made upon the terms and conditions of the Offer to Purchase and Consent Solicitation Statement dated January 12, 2012. As previously announced, as of 5:00 p.m. Eastern Time on January 26, 2012 (the "Early Tender Deadline"), $105,694,000.00 aggregate principal amount of Old Notes had been validly tendered and not withdrawn, which represented approximately 70.46% of the outstanding aggregate principal amount of the Old Notes (the "Early Tendered Notes"). On January 26, 2012 (the "Initial Acceptance Date"), the Company accepted for purchase and payment all of the Old Notes that were validly tendered at or prior to the Early Tender Deadline. Payment for the Early Tendered Notes was made on January 27, 2012 (the "Initial Payment Date"). Holders of Early Tendered Notes received $1,030.00 for each $1,000 principal amount of the Early Tendered Notes validly tendered, which included the consent payment of $10.00 per $1,000 principal amount of Old Notes, plus any accrued and unpaid interest up to, but not including, the Initial Payment Date. Since the Early Tender Deadline, no additional Old Notes have been tendered.
As previously announced, the Company will redeem all of the Old Notes that were not tendered under the Tender Offer pursuant to its optional redemption rights under the Old Notes and related indenture.
About Block Communications, Inc.
Block Communications, Inc, an Ohio corporation, is a privately held diversified media company with operations in cable television, commercial telecommunications, newspaper publishing and television broadcasting. The Company owns and operates Buckeye CableSystem, its cable system serving Toledo and Erie County, Ohio. Its cable system is a 870 MHz, hybrid fiber coaxial and two-way interactive system, enabling the Company to offer advanced products such as digital cable, high-speed data, telephony, high-definition television, video on demand and digital video recorder services. The Company also owns and operates a facilities-based commercial telecommunications business, Buckeye TeleSystem, serving commercial customers primarily in northwest Ohio and southeast Michigan. In addition, the Company publishes two daily metropolitan newspapers, the Pittsburgh Post-Gazette in Pittsburgh, Pennsylvania and The Blade in Toledo, Ohio, each of which is the dominant newspaper publication in its market. The Company also owns and operates five full power television broadcast stations and one wide coverage Class A digital television station. These television broadcast stations currently carry eight separate network affiliated channels and one independent channel in: Lima, Ohio; Louisville, Kentucky; Boise, Idaho; and Champaign-Springfield-Decatur, Illinois.
This press release may contain statements that constitute forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors. The Company disclaims any obligation to update the forward-looking statements contained herein.
SOURCE Block Communications, Inc.
CARSON CITY, Nev., Feb. 10, 2012 /PRNewswire/ -- Vidable, Inc. (OTCBB: VIBE) (the "Company"), an online video classified company, announced it has launched its innovative new online classified website in test market format in New York, New York. The site makes online video advertisements more accessible to local businesses and consumers. This easy-to-use website allows users in New York to add a business directory profile and video or post a classified video to sell a product or service. The Company plans a full launch into major cities in North America in 2012.
"Vidable.com is a local e-commerce marketplace that connects buyers to sellers through posted online videos, commented President Lino Luciani. "The Company is creating a new way for local merchants and consumers to attract buyers and sell goods and services. The site will provide consumers with an economical and unique method to discover what to do, eat, see and buy in the local places they live and work".
"Fully 62% of online 25-34 year olds and 57% of 35-44 year-olds use online classified ads, compared with 49% of online 18-24 year olds and 48% of online 45-54 year olds," commented Luciani . "Video classified ads are a natural progression in the marketplace and we aim to be the innovators and market leaders".
"Few sites offer the kind of functionality, ease-of-use, and mobile applications that Vidable.com will offer after our complete roll-out", added Luciani.
Details about the Company's rollout are available at www.Vidable.info.
About Vidable Inc.
Vidable is establishing a business model that will simplify the e-commerce marketplace that connects buyers and sellers. The company intends to operate a next-generation website that incorporates streaming video and mobile technology and uses various best- of-breed features. Vidable.com will be a centralized Internet portal that allows consumers to find information about various products and services through businesses and consumers posted videos on a local basis.
Forward-Looking Statements and Safe Harbor Statement:
The information provided herein may include forward-looking statements. These forward-looking statements may be identified by the use of terms and phrases such as "anticipates," "believes," "can," "could," "estimates," "expects," "forecasts," "intends," "anticipates", "may," "plans," "projects," "targets," "will," and similar expressions or variations of these terms and similar phrases. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Such forward-looking statements include, without limitation, projections about our possible future results, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate. Additionally, statements concerning future matters such as new business models, new products, product enhancements, new technologies, sales levels, expense levels and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward-looking statements relate to future events or our future financial performance and are subject to business, economic, regulatory and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements of our business or our industry to be materially different from those expressed or implied by any forward-looking statements. There is no certainty or assurance that any prospective events referenced as forward-looking statements will be achieved. The Company undertakes no duty to provide updates with respect to matters disclosed in this press release.
CONTACT: Mike McCribbin, +1-775-887-0670
SOURCE Vidable, Inc.
SAN FRANCISCO, Feb. 10, 2012 /PRNewswire/ -- With Valentine's Day fast approaching, many customers will celebrate with helium-filled metallic balloons. Pacific Gas and Electric Company (PG&E) urges customers to securely tie a weight to all metallic balloons containing helium to prevent them from floating away. Metallic balloons that contact overhead power lines can disrupt electric service to an entire neighborhood, cause significant property damage, and potentially result in serious personal injuries.
Last year, metallic balloons that drifted into PG&E power lines caused nearly 300 outages, affecting electric service to more than 150,000 PG&E customers throughout Northern and Central California. In order to significantly reduce such outages, and so everyone can safely enjoy their Valentine's Day, PG&E reminds customers to follow these important safety tips for metallic balloons:
- "Look Up and Live!" Use caution and avoid celebrating with metallic balloons near overhead electric lines.
- Make sure helium-filled metallic balloons are securely tied to a weight that is heavy enough to prevent them from floating away. Never remove the weight!
- When possible, keep metallic balloons indoors. Never release them outside.
- Do not bundle metallic balloons together.
- Never attempt to retrieve any type of balloon, kite, or toy that becomes caught in a power line. Leave it alone and immediately call PG&E at 1-800-743-5000 to report the problem.
- Never go near a power line that has fallen to the ground or is dangling in the air. Always assume downed electric lines are live. Stay far away, keep others away, and immediately call 911 to alert the police and fire departments.
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with 20,000 employees, the company delivers some of the nation's cleanest energy to 15 million people in Northern and Central California. For more information, visit http://www.pge.com/about/newsroom/ and www.pgecurrents.com.
SOURCE PG&E Corporation
Aribex Announces $200 Trade-Up Offer for Owners of Illegal Devices
OREM, Utah--(BUSINESS WIRE)-- Aribex®, Inc., the worldwide leader in handheld x-ray technologies, clarified that their Aribex NOMAD handheld x-ray devices are legal and not the subject of an investigation announced today by the U.S. Food and Drug Administration (FDA).
The FDA investigation involves the illegal online sales of handheld dental and veterinary x-ray units by manufacturers outside the United States. Aribex stressed that the NOMAD, which is manufactured in the United States, is proven safe, FDA-cleared, and approved for use in almost all states. Aribex officials said the company continues to have a positive working relationship with the FDA along with other state and local radiation safety officials.
“Clinician and patient safety has always been our number-one priority in developing and distributing our handheld x-ray device,” said Ken Kaufman, Aribex President and CFO, “and we are disappointed to learn that other manufacturers may not share a similar perspective. Just as the FDA fulfills its responsibilities, Aribex is equally committed to its role as the pioneer of safe and effective, battery-powered, handheld x-ray systems.”
“We support the FDA in their efforts to warn and protect, and we follow their message with one of our own: we ask dentists, hygienists, veterinarians and other certified radiation operators to understand that rapidly changing technology has made it possible for handheld x-ray systems to be both safe and effective. Not only is the NOMAD safe, patients and users have found that it improves their imaging experience.”
Aribex affirmed that each of their x-ray products meets FDA requirements, including FDA 510(K) clearance and labeling. Company officials said that numerous studies and evaluations have found the NOMAD to be safe, including the Washington State Department of Health study referenced by the FDA in today’s news release. Aribex maintains that their NOMAD systems are superior in their shielding and cone design characteristics when compared to any other intraoral dental x-ray system.
In response to challenges this may cause for U.S. dental and veterinary practices, Aribex is offering a $200 trade-up rebate on the purchase of a NOMAD to replace an illegal device. For more information on this rebate, affected practitioners should contact Aribex at 866-340-5522 or visit www.aribex.com.
About Aribex
Aribex is the worldwide leader in portable and handheld x-ray products. Aribex NOMAD x-ray systems are now in use in clinical, remote and mobile facilities throughout the world, from the finest professional offices to humanitarian missions reaching underserved populations who desperately seek care. The NOMAD significantly decreases costs and provides hundreds of safe, high-quality images for dental and veterinary applications on a single battery charge. For more information, visit www.aribex.com.
Aribex, Inc.Steve Dawson, 801-226-5522Marketing Managerwww.aribex.com
Source: Aribex, Inc.
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