AWG, Ltd. (Andretti Wine Group, Ltd.) Announces Stock Split
September 22 2005 - 9:00AM
Business Wire
Chairman of the Board, Joseph E. Antonini, announced that AWG, Ltd.
(Andretti Wine Group, Ltd.) completed a 20 to one reverse stock
split on Sept. 14, 2005. Filing was made with the State of Nevada
for finalization and approval. AWG, Ltd. stock, listed under the
symbol "AWGL," will trade on the Pink Sheets at $3.00 a share with
829,228 shares outstanding. Antonini indicated, "This is a further
step in increasing shareholder value as the company continues its
growth in the United States and abroad." Andretti Napa and
California varietals are sold in 52 markets in the United States,
Japan, Mexico, Canada, Czech Republic, Philippines, Denmark and
Croatia. Production for 2005 was 40,000 cases. The Andretti winery
is in Napa Valley, Calif., on 52 acres in the heart of one of the
best appellations in California. Background on AWG, Ltd. Chairman
Joseph Antonini: (This information is from a copyrighted story that
appeared in Mass Market Retailers and is being used with their
permission.) A decade has passed since Joe Antonini stepped down as
president, chairman and chief executive officer of Kmart. Since
then, Antonini has built a productive, successful and satisfying
life and business career outside Kmart - and, indeed, outside
retailing. He runs his own company, JEA Enterprises, which manages
and oversees the operations of some 10 different businesses. The
most significant of these is Andretti Winery, a California winery
he operates with race car driver Mario Andretti. As well, the
onetime Kmart CEO oversees an enterprise that sells bottled water
to Nestle, runs a company that manages quality-control tests for
the auto parts industry, is involved in a real estate development
company, oversees various oil and gas ventures, and owns a
53,000-square-foot automotive plant. If Kmart's former CEO has any
regrets, recriminations, fond memories or second thoughts about his
30 years at the discount retailer, he keeps them pretty much to
himself. "I enjoyed my years at Kmart," he says simply, "but I
enjoy what I'm doing today just as much. There's something exciting
about running a group of businesses and seeing them succeed, seeing
the impact you can make. And I like being my own boss. Antonini can
almost be forgiven for putting his Kmart experience behind him, at
least the last weeks and months of that experience. At his
departure, many of the decisions he made were under serious
question, and more than a few retailing observers believed he had
the Troy-based retailer headed in the wrong direction. With the
wisdom of hindsight, however, most of those decisions have turned
out to be perspicacious, if not downright clairvoyant. Under his
direction, Kmart became one of the very first U.S. retailers of
significance to grasp the significance of global expansion. So it
was that, during the Antonini years, Kmart opened stores in Mexico,
made investments in Singapore and Australia, made some initial
overtures to the Hungarian government, and purchased 14 department
stores in the Czech Republic and Slovakia. This latter group of
stores, the first of which was reopened as a Kmart in Prague in
1993, were sold to Tesco after Antonini's departure, subsequently
becoming the cornerstone of that U.K. retailer's Eastern European
landmark expansion program. Today, Tesco is Eastern Europe's
leading hypermarket retailer. While running Kmart, Antonini opened
the discounter's first food/general merchandise superstores;
developed the Border's, Office Max and Sport's Authority chains,
among other specialty retailers, as the Kmart divisions; embarked
on the most aggressive store-renewal program in the retailers
history; streamlined buying, merchandising and operations at the
Kmart discount stores; developed the Martha Stewart and Jaclyn
Smith brands; and turned in some of the most successful years the
retailer ever enjoyed. While Antonini ran Kmart, the retailer's
sales increased by $14 billion, reaching a record $38 billion in
the fiscal year ended January 27, 1993, the same year the company's
earning topped $940 million. Indeed, it is no exaggeration to say
that no Kmart CEO in the years since Antonini's departure 10 years
ago has eclipsed his performance - or even come close to equaling
it.
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