Napa Valley's Answer to "Dude, Where's My 401k?"
Crushpad Releases Bailout: The Wine Whose Price Is Tied to the Dow
SAN FRANCISCO, CA, Dec 09, 2008 (MARKET WIRE via COMTEX) -- In response to the constant Wall Street gloom, Crushpad announced Bailout (www.bailoutwine.com): a limited edition, yet to be bottled 2007 Napa Valley Cabernet that acts as the ultimate hedge against further 401k-battering downturns.
People who buy a future in this luxurious cabernet not only get a great wine, but if the market continues to slide, they receive $2 for every 100 point drop in the Dow per bottle purchased.
How it works: Visitors to BailoutWine.com purchase a future in a limited edition Napa Valley Cabernet for $39. This is a serious wine, crafted at Crushpad from some of Napa's best vineyards in Oakville, Mt. Veeder and Pritchard Hill, and made by winemakers with backgrounds at Napa icons such as Opus One and Merus.
The day people buy their Bailout Wine we peg their purchase to the closing value of the Dow Jones Industrial Average. When the wine is bottled on August 14, 2009 we'll take the closing value of the Dow, subtract the value at which the wine was purchased and cut an economic stimulus check for $2 for every 100 point drop. For example, if the Dow is at 8800 at purchase time and it closes at 7300 on August 14, 2009, then the cost is only $9 per bottle. If the ending Dow is greater than when they purchased the wine, the most they'll ever pay is $39 -- still a great deal for a wine that typically sells in the $75 to $125 range.
Crushpad will also host a Bailout blending party in Spring 2009, inviting everyone who purchases Bailout bottles to a blending session at its 30,000 square foot winery in San Francisco to help create the final blend. The event will also be streamed live on the internet.
"Lately we've been hearing that people are 'drinking down' due to market fears," said Michael Brill, Crushpad's founder. "So we figured we'd create our own bailout and enable people to feel good about buying and drinking great wine, no matter what happens to their nest eggs. One day we'll all look back at this and laugh... we hope."
About Crushpad Crushpad is a San Francisco-based custom winemaking facility whose over 5,000 clients include wine enthusiasts, professional winemakers, wine bars, retailers and restaurateurs. Crushpad specializes in small-lot, luxury wine production from California, Oregon and Washington's most notable vineyards. The company was founded in 2004 by wine industry veterans and technology industry refugees determined to liberate winemaking from its traditional stereotypes of impossible wealth, expansive chateaus and Golden Retrievers. For more information about Crushpad, call 707-637-8821 or visit http://www.crushpadwine.com.
Press Contact: Noah Dorrance (415) 864-4232 ext. 7073 noah@crushpadwine.com

