The wine business was spinning like crazy when I published the first version of the Wine Business Wheel of Fortune back in January of 1996. Many brands, including some big volume brands, had taken multiple price increases but were nevertheless on allocation. The supply of wine for Connie and Conrad Consumer may have been limited but winery margins were big and getting better every day. Growers were also on a roll. Multiple winery buyers were vying for their fruit, offering skyrocketing prices, long term contracts and planting contracts in order to win the right to the coveted grapes. Many newcomers, and even a few old-timers, got caught up in the excitement. People began drawing their upward trend lines with yardsticks. They thought this ro...