GEERLINGS & WADE BEING BAD

[amshih]

I can't believe I'm so dense sometimes -- when I saw this blurb on Wine Investment News, plus the timing of the G/W press release, it seems like G/W is in trouble as a company and is trying to fight off competition and increase its stock price any way it can. I think they know that they will go out of business otherwise, especially if Naxon does come onto the scene (they certainly can't compete with their 6-bottle minimum order and their meager selection).

Geerlings & Wade: Swimming in Shark Infested Waters
WSWA Throws Support Behind Naxon

GEER's slumping share price (4-17/32 on Mar.12 after closing 1998 at 9-3/16) will probably not get any help from the uncertainty created by news that at least two companies - one a $35 million Kleiner Perkins start-up with financial support from the WSWA - say they're building systems to offer thousands of wines directly to consumers in every state -- and to do it in a totally legal manner. (news report 03/12/99)