California's wine industry continues to expand, accounting for 75 percent of all wine -- both foreign and domestic -- consumed in the United States. The $9 billion industry will take a look at itself at its annual financial symposium, which attracts hundreds of California's top wine executives, on Tuesday, Oct. 29, and Wednesday, Oct. 30, at the Silverado Resort in Napa. One of the highlights is this year's wine industry financial survey, presented by Bob Smiley, dean of the Graduate School of Management at UC Davis. "We have found that the dramatic increase in premium wine sales over the past three years is attributed to perceived health benefits and the improved economy," says Smiley. "However, price increases, increased foreign wine imports and grape shortages should have the most negative impact on wine sales over the next three years." In addition, Smiley will offer advice, based on other industries, regarding how to extend the natural product life cycle of brands and varietals. His talk will begin at 8:30 a.m. on Oct. 30.
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Julia Ann Easley, General news (emphasis: business, K-12 outreach, education, law, government and student affairs), 530-752-8248, jaeasley@ucdavis.edu