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Digital Report - immediate delivery to your email.

Date of Publishing: August, 2020.
No. of Pages: 13.

Several private companies are developing plans to take paying customers to space on a regular basis.

Before boarding a rocket to space, or even just to the edge of space, passengers are required to sign a waiver acknowledging known risks of spaceflight. However, aerospace medical experts recognize many health risks associated with spaceflight are still not well understood, and very little research has been done on medical consequences of such flights on the health of untrained participants.

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Contents

1. Introduction.
2. History and Development of a Space Tourism Sector.
 - New Entrants
- Accommodations in Orbit .
3. Regulating Space Tourism.
- Federal Aviation Administration Oversight Responsibilities.
- Interagency Medical Standard Recommendations.
- Medical Concerns for Spaceflight Participants.
- 7 “G” Forces.
- Oxygen Deprivation and Effects of Fluid Redistribution. 
- Vestibular Complications.
- Training Guidelines.
- Insurance and Liability Issues. 
4. Accident Investigation. 
5. Considerations for Congress.
6. Contacts Author Information.

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Digital Report - immediate delivery to your email.

Date of Publishing: January 2023.
No. of Pages: 110.

Contents:

1. Assessing the Risk of a US Recession.

1.1. Key Arguments in Favor of a US Recession.

1.2. Key Arguments against US Recession.

1.3. 60/40 Stock/Bond Portfolios.

1.4. Our One- and Five-Year Expected Expected Returns.

1.5. Our Tactical Tilts.

1.6. Additional Risks to Our Outlook.

2. 2023 Global Economic Outlook.

2.1. United States.

2.2. Eurozone.

2.3. United Kingdom.

2.4. Japan.

2.5. Emerging Markets.

3. 2023 Financial Markets Outlook.

3.1. US Equities.

3.2. Non-US Developed Market Equities.

3.3. Eurozone Equities.

3.4. UK Equities.

3.5. Japanese Equities.

3.6. Emerging Market Equities.

3.7. Global Currencies.

3.8. Global Fixed Income.

3.9. Global Commodities.

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Digital Report - immediate delivery to your email.

Date of Publishing: January 2021.
No. of Pages: 35.

Contents:

1. Key Takeaways.
2. Key Risks
3. Credit Conditions.
4. S. Election Impact.
5. Ratings Distribution.
6. 2021 Forecast.
7. Profitability.
8. Allowances and Asset Quality.
9. Commercial Real Estate, Energy and Consumers.
10. Capital Ratios.
11. Deposits.
12. LIBOR.
13. Mergers and Acquisitions.
14. Digitization.
15. Subgroups and Related Research.

Chart 1: US Economic Forecast Overview 2021- 2023.
Chart 2: Holding Company Rating Distribution.
Chart 3: Operating Bank Rating Distribution.
Chart 4: Holding Company Outlook Distribution.
Chart 5: Operating Company Outlook Distribution.
Chart 6: All FDIC – Insured Banks: Historical and Forecasted Performance.
Chart 7: Index of Bank Low Growth.
Chart 8: The Path of the Allowance for Loan Losses for FDIC-Insured Banks.
Chart 9: 2020 Q2 Deferral Rate Distribution.
Chart 10: 2020 Q3 Deferral Rate Distribution.
Chart 11: Asset Quality of US Banks.
Chart 12: Provisions To Loans: Current Period Versus The Financial Crisis.
Chart 13: How Allowances And Provisions Compare To DFAST Loan Losses And Provisions.
Chart 14: Bank’s Allowances For Credit Losses.
Chart 15: Sensitivity Chart: Bank CRE Losses To Tier 1 Capital.
Chart 16: Energy and Related Exposure, Quarterly Change.
Chart 17: Energy and Outstanding Exposure Greater than $900 Million At Select US Banks, Q32020.
Chart 18: Household Debt Over Disposable Personal Income.
Chart 19: Total Consumer Debt Balance and Composition.
Chart 20: Credit Card Debt.
Chart 21: Median CET1 of Rated Banks.
Chart 22: Common Dividend Payout Ratio And Permissible Share Repurchases.
Chart 23: Common Equity Tier 1 Ratio – Basel III Fully Phased in.
Chart 24: Loans to Deposits.
Chart 25: Volume And Share of LIBOR – Tired Products.
Chart 26: Merger Activity of US Banks.

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Digital Report - immediate delivery to your email.

Date of Publishing: 2021.
No. of Pages: 57.

We have been extensively researching the wine business since 1991 and making public forecasts for 20 years. Some years we properly characterize a market change. In other years, our findings might be off in timing or even wrong. The events of 2020 introduced more chaos than anyone could have predicted, but we will once again review the forecasts made last year, just to keep score.

To say 2020 was a difficult year is an understatement. While bruised, most of us are back at our craft with hopeful anticipation as we move toward a COVID-free world. While I can say with confidence that 2021 will be better, I can also say that “normal,” when we get there, will be different from what we left. There are new issues that need to be planned for. We believe this report will inform your team’s thinking about the niche you occupy within the wine business, help you anticipate potential 2021 scenarios that will require planning and guide you toward joining other successful wineries that have adapted to changed market conditions and new opportunities. We hope it will inspire you to get creative about possibilities with your strategic planning, and that engaging in that process may help you improve your chances of success in the year ahead.
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Contents:

1. Introduction.
2. 2020 predictions in review.
2.1. What we got right.
2.2. What we got partially right.
2.3. What we got wrong.
3. 2021 US wine business predictions and observations
3.1. Top-level forecast.
3.2. Supply.
3.3. Price.
3.4. Seven tailwinds.
3.5. Seven headwinds.
4. Sales channels.
4.1. Where total wine sales up or down in 2020.
4.2. Off-remise sales and changes.
4.3. On-premise sales and changes.
4.4. Direct-to-consumer sales.
4.5. Direct sales and investment.
5. Harvest and grape and wine supply.
5.1. Moving from acute oversupply to balance in months.
5.2. Finding balance through shifting channels.
5.3. Finding balance in unorthodox ways.
5.4. Formats, varietals and packaging.6. Demographics and marketing.
6.1. Consumption patterns: Millennials vs. Boomers.
7. Cumulative negative health messaging.
7.1. Neo-prohibition, the original.
7.2. Neo-prohibition, the sequel.
8. The year in review.
8.1. Surprise and shock: The first 90 days of the pandemic.
8.2. What is normal during a summer pandemic?
8.3. The four seasons - winter, spring, summer and fire.
8.4. Abdominal economic impacts of this research.
9. Conclusion.
10. Endnotes.
Figure 1. Preliminary US wine market volume 2019-2020.
Figure 2. Off-premise volume and value changes in 2020 vs. prior year.
Figure 3. Figure 3. Month-to-month average price changes of top 100 best-selling SKUs off-premise.
Figure 4. Restaurants wine depletions from distributor stock, year-over-year comparison.
Figure 5. Year-over-year changes to on-premise wine sales.
Figure 6. Winery restaurant sales as percent of total winery sales.
Figure 7. Average winery's sales channels.
Figure 8. Direct-to-consumer channel movement in 2020.
Figure 9. Growth in direct channels.
Figure 10. Sales growth rates of West Coast premium wineries.
Figure 11. E-commerce trends in alcohol.
Figure 12. E-commerce penetration.
Figure 13. Data analytics person.
Figure 14. California crush of wine grapes vs. consumption of California table wine.
Figure 15. California bulk wine inventory.
Figure. 16. California bulk wine inventory changes. 
Figure 17. Harvest yields in 2020.
Figure 18. Harvest quality in 2020.
Figure 19. Growth and market share of formats.
Figure 20. Varietal growth and share of market.
Figure 21. Long-term trend of off-premise retail sales (rolling 52 weeks).
Figure 22. US population by age (Gen Z, Millennials, Gen X, Boomers, Matures).
Figure 23. Wine consumption by cohort.
Figure 24. Consumption by cohort based on winery's average bottle price.
Figure 25. Generation differences  in wine (Millenials, Gen X, Boomers).
Figure 26. Sample snack food label.
Figure 27. Percent change in per capita ethanol consumption.
Figure 28. US unemployment rate  2019-2020.
Figure 29. Change in number of seated diners in US restaurants vs. prior year.
Figure 30. Average winery's sales channels - April 1, 2020.
Figure 31. Off-premise change in value vs. prior year.
Figure 33. Direct-to-consumer channel movement in 2020.
Figure 34. Daily new COVID-19 cases in the US.
Figure 35. Premium winery income statement averages.
Figure 36. Impact o smoke and fires.
Figure 37. Insurance coverage for significantly impacted vintners.
Figure 38. Employment 2007 - 2012.
Figure 39. Employment 2015 -2020.
Figure 40. US luxury wine sales.
Figure 41. Core retail sales except auto, seasonally adjusted.
Figure 42. Nielsen-covered outlets, grocery and drug. 

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