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a merger sold to investors as combining driving DaimlerChrysler's stock price to The hope remains to -End a
<br /> the best of both companies and at the less than half its post-merger high of uses for the combined company's long sponse to a wave of recent analyst down-
<br /> . But $ 101 per share, making the combined list of inventions — among them, ceram- grades and investor lawsuits. Most nota-
<br /> same time saving $3 billion a year earlier this year the Java was shelved, company worth less today than Daim- is brakes, onboard navigation systems ble among the legal actions was a $9
<br /> reportedly in part because it would cam- ler-Benz alone before the deal. and safety features such as Distronic billion lawsuit filed in November by the
<br /> pete against the existing Mercedes A-se- The backlash has focused on Daimler- cruise control, a system that automatical- company's third largest shareholder,
<br /> ries for buyers. Chrysler chief executive Juergen ly slows a car when it gets too close to U.S . financier Kirk Kerkorian, that ac-
<br /> cuses Schrempp of falsely telling
<br /> So instead of blazing a trail to integra- Schrempp. The charismatic German cars ahead of it. Chrysler shareholders that the deal was
<br /> tion, the Java — the only car to date that masterminded the merger with promis- "We cannot stay alone. We need econ- a merger of equals."
<br /> combined parts from both Daimler and es of greater shareholder value, but is omies of scale," Mercedes chief Juergen Analysts expect DaimlerChrysler's
<br /> Chrysler — stands as testimony to the currently presiding over one of history's Hubbert admitted at his division's 100th share price to languish and its bottom
<br /> merger's wasted potential. biggest losses in that category. birthday bash earlier this month. line to suffer in the near future as
<br /> Failed synergies are a flashpoint in a A driving force behind the deal was In the merger's first year, Daimler- Schrempp tries to revive the Chrysler
<br /> merger plagued with problems — a Daimler's need to get more mileage out Chrysler delivered more than $ 1 billion division, which posted a $512 million
<br /> brain drain of Chrysler's executive tal- of Mercedes' massive research and de- in savings by combining such things as loss in the third quarter and warned of
<br /> ent, cultural clashes between German velopment spending. purchasing and back office functions. $ 1 .2 billion in red ink for the fourth quar-
<br /> and American management, and a battle The company spends up to a quarter But problems erupted this year when ter.
<br /> for financial control over the loss-ridden of its budget on new technology, and the company shifted into Phase 2 — the Schrempp has proven that he knows
<br /> U.S. division. plans to fork out an additional $45 bil- sharing of parts and components. how to make tough decisions to protect
<br /> Skeptical shareholders bailed out, lion by 2003. The company has unveiled limited co- the bottom line.
<br /> LOCKEFORD : Litchfields have plenty of support for their grand vision
<br /> IZ CONTINUED FROM G-1 3! ,I ;
<br /> on their way. Vino PiazzaIII %:S #R'r-
<br /> houses four wineries that ii ' yid `
<br /> crushed grapes there this fall, Its � i
<br /> and more are on the ways _
<br /> The most prominent of the y ��
<br /> current tenants is Mitch t §
<br /> Cosentino, whose Napa winery
<br /> has garnered accolades from
<br /> + wine critics. Cosentino isIf
<br /> building two of his own et
<br /> wineries in the area, but in the e� � *0010�
<br /> IN
<br /> t d, s
<br /> r meantime is using the Vino
<br /> Piazza space to make his a
<br /> a 11
<br /> t ,
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<br /> NO
<br /> Lodi-area wines, a lti n lZ
<br /> The others are the Peters ` s ; iii to �g `
<br /> Family Winery, CasCande Pitta � o da dna 1� t I l Ifz . Id
<br /> Wines and the Olde Lockeford re ° If s If
<br /> RIIV i� ' s ° �,
<br /> If
<br /> IJ NI I
<br /> Winery. Peters and Olde
<br /> Lockeford each made about
<br /> 1,000 cases of wine thisear, J �
<br /> while CasCande Pitto did about i � " m i tr T '
<br /> 2,000 cases . y= 11 a�i 3 ag
<br /> Cosentino, who produced �� h j
<br /> about 25,200 cases at Vino
<br /> i
<br /> Piazza this year, lent his 1 k
<br /> expertise, winery bond and
<br /> crushing equipment to the F
<br /> smaller wineries
<br /> Watts Winery and Borra
<br /> Vineyards are expected to come ? a tii y5 I '
<br /> on board for the 2001 crush,
<br /> and several more are interested,
<br /> according to the Litchfields.
<br /> Eventually, the facility could a a
<br /> house a dozen small wineries, i
<br /> Don Litchfield said.
<br /> „ a .`,., w= ¢ I
<br /> JOAN BARNETI LEEIrHE BI
<br /> Joining in The Olde Lockeford Winery near Lockeford has a bright future as plans by Don and Karyn Litchfield unfold at the site near Highways 12 and 88.
<br /> Olde Lockeford Winery is the
<br /> Litchfields' own venture. They
<br /> hadn't expected to get into and heavy equipment rental. administrative space on could afford to, but now they wine-tourism destination.
<br /> winemaking themselves this Then the idea of returning another, maybe a banquet room have bank financing to move Vino Piazza makes it much
<br /> soon, Don Litchfield said. But a the old winery to its original or wine tasting room on the the project forward more easier for growers to make
<br /> neighboring vineyard had 4 use hit. "We figured it was a top, quickly. some wine and open a tasting
<br /> tons of extra grapes looking for tossup, a winery plaza or an The Litchfields aren't the only room, Chandler said. "It allows
<br /> a home and, well, why not? auto body plaza," Karyn Making progress ones excited about Vino Piazza. a producer to get involved
<br /> That sort of accidental timing Litchfield said with a grin. For now, Vino Piazza remains "I think it's a great project," without the huge cost of bricks
<br /> is how the whole Vino Piazza The timing was perfect. The a work in progress, with Cosentino said. For us it's a and mortar. It presents an
<br /> project was launched. wine industry has lots of extra bulldozers, backhoes and crews near-term answer, but for most opportunity. Someone with
<br /> The abandoned and heavily grapes and not enough storage. working on grading, plumbing it's a longer-term solution. It tanks, barrels and a good
<br /> vandalized old winery was in The Lodi-Woodbridge and electrical improvements. allows a mom-and-pop winemaker can test the waters
<br /> foreclosure almost three years Winegrape Commission is But the Litchfields expect to operation to exist and survive." The location near Highways
<br /> ago, with $ 1.8 million in taxes encouraging area growers to have it ready for the public by Vino Piazza allows an 12 and 88 is good to capture
<br /> owed by a previous owner. consider making wine to boost next spring or summer, with exchange of equipment and vacationers headed to the
<br /> The Litchfields and a partner tourism, and North Coast wine tastingavailable. ideas that can really help a Sierra, Chandler said, and the
<br /> bought the 50-acre roe for wineries are discovering the start-up winery, Cosentino said. Litchfields have added a
<br /> g property Lodi region as the next wine They already have staged a mineral and fossil display
<br /> $215,000 at the foreclosure sale, fewublic events there, "It's fantastic," added Mark
<br /> P Chandler, executive director of complete with cast dinosaur
<br /> figuring they could do boom area.
<br /> including a "haunted winery" heads as an added attraction.
<br /> something with it. The partner The Litchfields pitched in to tour for Halloween and a the Lodi-Woodbridge
<br /> took the back 25 acres and the clean up the site, working wine-tasting event in Winegrape Commission. "It's "The guy has great vision,"
<br /> Chandler said of Don Litchfiele
<br /> Litchfields kept the front parcel, evenings and weekends. conjunction with the going to help us reach critical
<br /> which includes the winery The old winery had storage Lockeford-Clements Chamber mass much sooner." "This place was just here at
<br /> buildings. for 1 million gallons of wine, of Commerce. The critical mass Chandler is the right time," Litchfield said.
<br /> There were environmental much of it in huge concrete Both events drew far more talking about is the number of Bee staff writer Tim Moran can be
<br /> issues with the site, including tanks. Those tanks are being people than the Litchfields wineries and tasting rooms to reached at 578-2349 or at tmoran@
<br /> old gasoline tanks. converted into mini-tasting expected. The haunted winery make the region a major modbee.com.
<br /> Environmental cleanup is one rooms and winemaking areas. brought 2,000 people in three
<br /> of Don Litchfield's businesses, The foundation of another days, and the chamber wine
<br /> so that didn't seem to be a huge tank in front of the tasting another 500 to 600. e
<br /> major stumbling block. complex will be turned into a
<br /> But what to do with the old fountain. The scale house We know they will come,"
<br /> Karyn Litchfield said. co are
<br /> site? The Litchfields considered where grapes were weighed has ry
<br /> using it for storage space and already been converted into a getting a lot of inquiries on C1nGm red
<br /> sought tenants through comfortable office for Vino when we will be open." Go-Carts, Putt Pmt, Only 0 K E N S ,
<br /> g g The project hasn't been Laser Tog, Rock climbing
<br /> advertising, but didn't get much Piazza and Litchfield's other P J and O
<br /> response, Karyn Litchfield said. businesses. cheap. The Litchfields estimate t Virtual Reality 1 Only
<br /> Don Litchfield figured the The four-story distillery it will have cost them $1 .5 '�IMrF Game oa,w
<br /> worst case would be using thebuilding eventually will have an million when complete, not
<br /> site as an office for his Italian village-style bell tower, including the sweat equity they
<br /> 0 G ee =d F
<br /> businesses, which include Don Litchfield said. He bubbles Put m. ) Ul
<br /> �m
<br /> enviromiental cleanup, with ideas for each of the four At fust they were chipping
<br /> consnu : ion. 1o^ yn1 nOA: a wine lab on one floor, away at the work when they
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