What the Price of Bananas Says About Inflation
By and Joe Weisenthal
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Forbes
23 minutes ago
- Forbes
Cabernet Franc Rising In Napa Valley
Cabernet Franc grapes, the 'father of Cabernet Sauvignon,' are gaining in popularity in Napa Valley For years, the Cabernet Franc grape has been considered just a blending grape in Napa Valley, overshadowed by the bigger, bolder, and more famous Cabernet Sauvignon grape. But recently, more Cabernet Franc wines have appeared in Napa Valley, almost always selling out immediately to avid customer lists. Another interesting fact is that Napa Valley Cabernet Franc grapes have been more expensive to purchase than Cabernet Sauvignon since 2016. According to the Napa Valley Crop Report, Cabernet Franc averaged between $500 and $1000 more per ton than Cabernet Sauvignon. For example, in 2023, Napa Valley Cabernet Franc grapes averaged $10,633 per ton, whereas Cabernet Sauvignon averaged $9235 per ton. Plus Cabernet Franc wines taste distinctly different from Cabernet Sauvignon wines, even though Cabernet Franc is considered 'the father of Cabernet Sauvignon' and is the older grape. Known most as the signature red grape of the Loire Valley where it produces medium-bodied savory wines tasting of dried berries, herbs and aromas of violets; in Napa Valley, it becomes more fleshy with velvety tannins, ripe black currants, many different spices, and a nose of violets. So what is up with Cabernet Franc in Napa Valley? Why is it more expensive than Cabernet Sauvignon? Why does it consistently sell out to consumers, but not many wineries produce it? Is Cabernet Franc rising as a new wine trend in Napa Valley? To answer these questions, I attended the Napa Valley Auction this year (which raised $6.5 million for local charities) and approached the seven wineries that featured 100% Cabernet Franc wines at the barrel auction, out of 100 winery auction barrels. These seven wineries included: Antinori Napa Valley, Barnett Vineyards, Cakebread Cellars, Crocker-Starr, Covert, Frog's Leap, and The WineFoundry. Over the course of our conversations and tastings, three clear themes rang through in the answers of all seven winemakers and winery representatives as they talked about the special attributes of growing and crafting Cabernet Franc wine. 'The reason so few wineries grow it is because it is harder to grow and needs to be grown in the right type of soil,' stated Pam Starr, Co-Owner and Founding Winemaker with Crocker-Starr Winery. 'Cabernet Franc vines need to be planted in a soil that is well draining so that you keep the balance and the freshness of it.' This may be partially why only 1224 bearing acres of Cabernet Franc are grown in Napa Valley, compared to over 25,000 acres of Cabernet Sauvignon, according to the Napa Valley Crop Report. David Tate, Winemaker and General Manager with Barnett Vineyards, agrees with Pam Starr. 'We grow our Cab Franc at the top of Spring Mountain. It's cooler there with well-draining soil, but the vines still get enough sun to ripen fully. I don't like a Cab Franc if it tastes green,' he said. However, he also added that his small production sells out right away every year to the wine club. 'People enjoy trying it, because it is something different. It is lighter in style than Cab.' Due to its tendency to exhibit strong herbal and bell pepper flavors if not grown in the right location, several winemakers described the challenge of 'taming the green notes,' in Cabernet Franc. 'It's a harder grape to grow and to get ripe to avoid the pyrazines (green notes),' stated Nikki Williams, Winemaker with Cakebread Cellars. 'But when planted on well-draining soils, it produces a light and elegant style wine with pure fruit, lovely floral aromas and an attractive spicy cigar box note.' Emily Floyd, Director of Sales and Hospitality at Covert Winery, admitted, 'When I was 23, I had an 'aha moment' when I first tasted Cabernet Franc. I fell in love with the grape but quickly realized that it's rare to find a good one. But at Covert, it's delicious.' And she was right. The Covert Cabernet Franc barrel offering was brimming with ripe berries, spice, and a very smooth, elegant, and velvety long finish. 'It was made by our consulting winemaker, Julien Fayard, and Assistant Winemaker, Sam Buckingham. It sells out immediately when we release it each year,' she reported. Pouring Wine Samples at the Napa Valley Barrel Auction 2025 Each of the seven winery representatives also commented on how Cabernet Franc, due to its lighter and more elegant style, seems to be gaining increasing appreciation from consumers. 'Cabernet Franc is all about nuance and restraint,' stated Stuart Ake, with The WineFoundry, who produced a stunning example, made from grapes grown in the Stagecoach vineyard. 'People are starting to appreciate all the layers and elegance, versus the power of a big Cabernet Sauvignon. And It seems to attract a much younger audience who are more adventurous and open to exploring new things.' Jamie Alonso, Cellar Master with Antinori Napa Valley agreed. 'We always used to use Cabernet Franc as a blender, but now a lot of young people like the fresh, lighter style.' Jessica Hager, DTC Manager with Frog's Leap spoke to changing consumer tastes. 'Consumers today want something lighter and the profile of Cabernet Franc delivers this, plus provides a nice savory element.' Indeed the Frog's Leap wine is very light and elegant, with pure fruit and spice — crafted in more of a Loire Valley style, but with the added sunshine of Napa Valley. 'I believe that our organic farming methods help to ensure that our wines do not have the pyrazines of some cab francs,' she concluded. David Tate with Barnett Vineyards added, 'People enjoy trying it because it's something new after they've been tasting Cabernet Sauvignon all day. Then they get to try Cab Franc and it's fresh and floral and different.' The other aspect of Cabernet Franc wines is that it makes a great wine to pair with many different types of cuisine. Because of its lighter style and crisp acidity, it can even be matched with heavier seafood dishes and grilled vegetables, as well as the classic beef and lamb. 'I've been swarmed by sommeliers all day long because they are attracted to cabernet franc wines to pair with their restaurant food,' stated Stuart Ake, with The WineFoundry. 'I love the wonderful spices in Cab Franc, especially when the green notes turn into a dried chipotle with cardamom, cigar, and tobacco notes,' added Pam Starr of Crocker-Starr. 'It's my favorite wine to pair with food,' said Jaime Alonso with Antinori. 'I think it pairs especially well with lamb chops and Italian food.' Visitors Celebrating at the Napa Valley Barrel Auction 2025, Louis Martini Winery Other highly rated Cabernet Franc wine brands from Napa Valley include: Caladan, Realm Cellars, Turnbull, Chappellet, La Jota, Pahlmeyer, Lithology, and Lang & Reed, amongst others. So is Cabernet Franc rising in Napa Valley? Well, it appears that consumers are quite attracted to its lighter more elegant style and most of the wine sells out to wine club members upon release. But currently, very little Cabernet Franc is grown in Napa Valley, so scarcity could also be playing a role in the high sales record. But will Cabernet Franc ever replace the powerful and very lucrative hold that Cabernet Sauvignon has on Napa Valley, with some of the most expensive and collectible wines in America comprised of Cabernet Sauvignon from Napa? Perhaps the answer lies in the words of Stuart Ake of The Wine Foundery: 'I will trumpet the subtle nods and elegant restraint of the Cabernet Franc grape until the end, but it doesn't mean I also don't appreciate the depth, breadth and chiseled muscle power of Cabernet Sauvignon.' So both styles of wine are equally attractive. In the end, it is positive to see Cabernet Franc as a new rising star in Napa Valley, even if it may be lighter than the bright wattage of Cabernet Sauvignon. Teresa Wall, Communications Director with Napa Valley Vintners, agrees: 'It's exciting to see vintners across Napa Valley focusing on the Cabernet Franc variety and consumers becoming more curious about this remarkable grape,' she concluded.
Forbes
27 minutes ago
- Forbes
The True Cost Of Legacy Software: How To Understand The Full Picture
Eric Giesecke is the CEO of Planet DDS . getty As leaders, we often stick with what we know. It's comfortable, it's familiar and, most importantly, it seems reliable. But when it comes to legacy software systems, this comfort zone may be costing us more than we realize. Many executives focus on the upfront costs of new technology but fail to calculate the ongoing losses of sticking with outdated systems. As technology evolves, it's worth considering how legacy systems compare with modern cloud-based alternatives, particularly in areas such as scalability, integration and access to emerging innovations. The upfront costs of maintaining legacy systems don't take into account all the factors businesses should consider. These outdated systems, for example, often rely on on-site physical servers, requiring significant infrastructure investment. Setting up a new server typically can cost up to $10,000, and additional expenses for software licenses, maintenance and support can rack up quickly. These systems also come with additional operational expenses: increased power usage, heat output, supplementary cooling requirements and the constant strain on bandwidth during data backups. Another overlooked cost is the knowledge dependency these systems create. When key IT personnel leave, they take with them specialized knowledge crucial for maintaining and troubleshooting these legacy systems. Equally concerning is the added IT complexity of maintaining server-based systems, especially as an organization grows and scales. Security and compliance risks are another concern. Legacy software is a prime target for cyberthreats. When sensitive data is stolen, the consequences can devastate a business, with recovery fees running into millions of dollars. This is particularly damaging for industries handling sensitive customer data, such as healthcare and financial services. The fallout extends beyond immediate costs to include increased cybersecurity insurance premiums, loss of business, potential class action lawsuits and reduced business value for future acquisitions. The physical security of on-premises servers presents another vulnerability. In the event of a fire, flood or other unforeseen disaster, these servers are susceptible to damage or destruction, leading to irreversible data loss and operational disruption. The financial toll of such an event can be catastrophic, with lost revenue and recovery costs multiplying quickly. While the drawbacks of legacy software are well documented, there are some valid reasons some organizations choose to keep it—at least for now. Regulatory or compliance frameworks may require on-premises data storage or auditing transparency that cloud providers can't yet fully guarantee. In these cases, modernization may be delayed by necessity rather than choice. Legacy systems can also offer more control over infrastructure and workflows, especially in highly customized environments. Businesses that have invested years in tailoring their systems may be hesitant to risk functionality loss or reintegrate complex tools. While cloud technology is helping to address these concerns, it's important to weigh the trade-offs carefully and factor in operational needs, regulatory requirements and long-term goals. The ROI Of Cloud-Based Platforms Think of modern cloud-based platforms as growth accelerators, not just cost-cutters. Cloud solutions give you access to scalability, AI and automation. According to McKinsey, companies that go beyond basic cloud adoption and strategically integrate cloud across their operations could unlock as much as $3 trillion in value globally through faster product development, better decision-making and improved operational resilience. Cloud solutions also unlock the potential to utilize open APIs, which allow businesses to integrate tools seamlessly. Unlike traditional software, where companies are locked into rigid systems, modern cloud platforms with open APIs enable custom technology stacks tailored to specific business needs. This shift gives organizations the flexibility to choose best-in-class tools for everything from finance and customer management to logistics and marketing automation. These capabilities are especially impactful in healthcare, where integrated systems can streamline operations and enhance patient care. According to another McKinsey report, 62% of healthcare leaders believe that generative AI has the greatest potential to improve consumer engagement, yet only 29% have started implementing it—highlighting a significant gap between opportunity and adoption. Cloud infrastructure plays a foundational role in enabling this transformation. With the right tools in place, AI can help personalize care, increase transparency and empower patients to make better healthcare decisions. McKinsey also estimates that adopting AI could lead to a 5% to 10% reduction in healthcare spending across both public and private sectors, demonstrating that cloud-enabled innovation isn't just about efficiency, but long-term sustainability and value creation. Making The Transition Despite the benefits of cloud-based solutions, there still might be resistance when transitioning from legacy software. This transition requires careful planning and execution. Here's what I've learned from overseeing successful digital transformations: • Secure team buy-in. Your team needs to understand why the change is necessary and beneficial. Without buy-in, undergoing such a significant change becomes pointless, and your team might feel disconnected as to why it matters. • Prepare for short-term disruption. Your team also needs to know that the transition might not be all smooth sailing. There will be a period of learning new software, auditing data and migrating data, but it is temporary. • Start with core operations. Focus first on critical business functions where modernization will have the most immediate impact. Businesses can begin by adopting cloud solutions in phases, such as integrating AI-driven analytics or cloud-based CRM tools first. The hidden costs of legacy systems are worth careful evaluation. While modernizing your technology stack does require upfront investment and thoughtful change management, it can also open the door to improved agility, security and long-term value creation. The organizations that take time to assess their systems will be best positioned to respond to changing market demands. For some, that may mean adopting cloud-based platforms now; for others, it may involve planning a phased transition or identifying ways to modernize selectively. The right path forward will depend on your industry, regulatory environment and appetite for transformation. But by understanding the true cost of maintaining the status quo, leaders can make more informed decisions about what modernization looks like for their organization. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Fast Company
38 minutes ago
- Fast Company
Law firms have a new way to attract clients and talent: Stand up to Trump
Branded is a weekly column devoted to the intersection of marketing, business, design, and culture. Elite law firms like Paul Weiss and Jenner & Block may not advertise in traditional ways, or for a mainstream audience. But they and a handful of other prominent white-shoe firms are in the middle of an unprecedented brand test right now. At issue is how best to respond to pressure from the Trump administration and how that response affects their reputation. That has turned into a branding moment for these firms—whether they like it or not. The full verdict isn't in yet. But those who have chosen to fight executive orders designed to punish firms that President Trump apparently dislikes seem to be faring better, scoring early legal victories and burnishing an image of bravely standing up for principle. Or maybe it's more accurate to say that those who have cut deals with the administration (promising a collective $940 million in pro bono work) are, reputationally and perhaps substantively, faring worse: losing partners, angering some clients, and even being labeled ' The Yellow-Bellied Nine ' by critical peers. The test began back in March, when Trump signed a series of executive orders restricting security clearances for lawyers and employees of various firms that had represented his perceived enemies or political opponents—a move that would severely cut into their business. The prominent firm Perkins Coie, which among other things had represented Hillary Clinton's 2016 campaign, responded by suing the administration. The order was swiftly blocked by a judge who called it ' chilling.' Other targeted firms, including Jenner & Block, WilmerHale, and Susman Godfrey, have won similar blocks. Paul Weiss, one of the most storied and powerful law firms in the world, was among the first to take a different path: In exchange for the administration agreeing to lift an executive order targeting the firm, it agreed to perform $40 million in unpaid legal work for mutually agreed-upon causes and matters. The deal startled (and was immediately criticized by) many legal observers. (In a firm-wide memo, its executive chairman defended the settlement: 'The resolution we reached with the Administration will have no effect on our work and our shared culture and values.') Lately, Paul Weiss has made headlines for losing several high-profile attorneys, including the cochair of its litigation group, who left with three other partners to form their own firm, and a former U.S. attorney who went to Jenner & Block, which has sued the administration. Eight more major firms—including Skadden, Kirkland & Ellis, Simpson Thacher, and Latham & Watkins—cut similar deals. Many others have remained above the fray, declining, for example, to join an amicus brief in support of Perkins Coie or others fighting the administration in court. Law firms are often paid to help mitigate risk, but in this case some may have underestimated the risk of brand damage. In the latest sign of tangible reputational fallout, The Wall Street Journal recently reported that 'at least 11' major companies, including Oracle and Morgan Stanley, are withdrawing business from firms that cut deals to get executive orders lifted or that are otherwise supporting the government in what some view as an effort to warp the legal system. As one client cited by The Journal put it: We prefer to work with law firms willing to fight. More broadly, the divergent response to the executive orders continues to draw scrutiny and controversy within the profession, with the potential to affect both recruiting and retention. Above the Law, a snarky but serious online publication popular with younger lawyers, coined the 'Yellow-Bellied Nine' moniker, and has introduced a ' Spine Index ' that rates major firms' responses to the executive orders (and notes, in addition, those that have scrapped DEI efforts). A survey of its readers found that a vast majority supported firms fighting the orders, and felt that 'law firms who make agreements with the administration are giving in to extortion, which sends a bad message to the entire profession.' Still, while the firms fighting back have been winning new clients and winning in the courts (so far), it's hard to gauge how that will ultimately affect their business: Clients who would rather steer clear of potential trouble with Trump aren't likely to be very public about distancing themselves from the conflict. Meanwhile, as Above the Law has noted, neither the administration nor the firms that agreed to deals involving pro bono promises have offered up much detail or any sense of timing about those commitments. For Trump, that may be a matter of biding time; for the firms, it may be in hopes that the matter will fade from the court of public opinion.
