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Silicon Valley Bancshares (SIVB) Message Board

  • hellobruno hellobruno Apr 4, 2002 12:08 PM Flag

    Core competencies! Bulk Wine?

    We do not understand this "investment" in Turrentine bulk wine brokers at all.

    First off, Ciatti is the 800-pound gorilla in the bulk wine market and everybody in the California and the International wine industry seems happy enough with Ciatti.

    Why doesn't Ciatti want out? What can SIVB do better than Ciatti?

    Second, I thought SIVB deals with the Luxury End of the wine business. In theory - that should have very little to do with the bulk wine market. Are there problems at the high-end we should know about?

    In the year 2003 I predict a "fill your own jug at your local Silicon Valley Bank branch" program.

    In 2004 the following Note to the financial statements:

    In March of 2004 THE BANK wrote off certain non-performing assets relating to pokemon cards, beanie babies, Shinjo memorabilia, and an investment in a bulk wine company.

    Hello, is it time to sell SIVB? Bruno

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    • Always like to hear all points of view here. Would like to hear a more reasoned arguement why anyone should sell--your comments on their most recent wine deal is totally lacking in pursuaviness.They did what appears to be their standard loan-only $1mil- and took a small piece of a company referred to as.."the LEADING broker specializing in PREMIUM wines and wines in bulk..".Additional comments;"(SIVB is)thr leading lender to the Premium Wine Industry.."Turrentine is the leader in the lomg-range inventory management space"..etc.
      Buying out their competitor-Ciatti & partners-seems to me a strategic ally wise move.
      What serious info do you have that indicates a "problem at the high-end"??
      Your closing sarcasms are further proof of your-to me-very biased view towards SIVB.
      Care to tell if you are a disgruntled (ex?) employee,competitor or just another sour short?

      • 1 Reply to brotherbucks
      • Brother B,

        Hello! Bruno has been (and still is) long SIVB! Thankfully the wine part of SIVB is a tiny part of the entire package. Hopefully this will just knock off a few pennies per share.

        I walk the wine section of my Safeway and count Club Card wines - those marked down in price. And, I track the total dollars marked down per item.

        I think the high-end for wines is soft. For example - 1999 Kenwood Sonoma Merlot - non-member price $18.99. Currently on the Club Card for $10.99!!! This was not going on even 6 months ago (as I review my records).

        I just hope the employee(s) that cooked up this half-baked investment does not get any of those options we just voted to grant.

        I hope this sets you mind at ease brotherbucks. You did call me some rather mean names.

        Hello from Bruno!

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