grape harvest poor, page-7

taking out the 40 mil write off MGW has about 20c eps which justifies 2.50 - 3.00, but there is uncertainty surrounding current drought and grape harvest conditions, as MGW has its own vines.

however it looks like the wine lake will be reduced sooner and good things may happen in 2007, but there is always the possibility of a t/o, so it is worth holding at present and buying on dips.