Tuesday, October 23, 2007

Viansa: talk is cheap, but the winery's gonna cost ya'

"VIANSA Sells for Double Net Worth"...

"Marketing Genius gets Owners Out of Bankruptcy"...

"LOOPHOLE Saves Family Winery"...

Great headlines, eh? From the local paper?
No...just a pipe dream that Jon Sebastiani and his mother Vicki are still envisioning for Viansa as it struggles out of its failed relationship with Global 360.

More news from Rich Cartiere's Wine Market Report about Viansa states that the Sebastianis (read as Jon & Vicki - no one else is named) are trying to get a Nevada bankruptcy court to sever their ties to Global 360, and then give them the equipment assets of the business...
(I don't think that's too likely to happen, but stranger things have come true...)

All totaled, the Viansa liabilities are listed at ~$57 MIL...that's over 160% what the winery sold for in 2005 ($34.5 MIL). Yikes!

Even more of a pipe dream is the figure that Jon & Vicki seem to think the winery is worth (and mind you they want everyone to over-value the business so they can soak some more cash out of it) which is between $45~$70 MIL!

You've gotta be asking yourself right now, "why the HELL did they ever sell the winery to Global 360 for $34.5 MIL if it was worth $45~$70 MIL originally?"
(PS - it was a bit overpriced in that sale 3 years ago, and what exactly has happened during that time to increase it's value other than inflation? Nothing. Nada. Squat.)

Jon Sebastiani, the one who started this whole tawdry affair by hooking up with Global 360 & arranging the sale of the cash-strapped winery in 2005, would have to be the one to answer that...

Good luck on this angle you're working, Jon....you're gonna need it!
Because there's still a dark cloud hanging over Viansa, and I don't think it'll dissipate anytime soon...

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Anonymous Anonymous said...

WOW my new experience with Viansa is that the people there are RUDE, I canceled my wine membership within
six days of registering and they said I couldn't do that....charged my Credit card anyway on the SAME DAY that I canceled in writing! and I am NOT going to pick up the wine at Viansa...they have the wine and my money!

no wonder they are in bankruptcy.
No thanks...Never again....horrible public relations!

November 19, 2008 12:01 PM  

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