Ahead of the NBWA convention in a few weeks, BBD sat down with NBWA chief Craig Purser to talk about a variety of issues including "inside baseball" in DC politics, recent court decisions, the Modelo deal, private equity in beer wholesalers, and more. You, my friends, are a fly on the wall:
Harry Schuhmacher : So the political season is upon us. And while we aren't seeing much presidential advertising in Texas, I was in Colorado and you'd think the election was next week. What's your take on the elections and what's going on on out there?
Craig Purser: Harry, it is crazy out there. I was in Tampa with the Republicans and in Charlotte with the Dems and I haven't seen an election that is so close and an electorate that is so divided in I don't know how long. Both sides and both presidential campaigns are beating the hell out of each other, and I don't think anyone knows what will happen when the music stops in November. What we do know, however, is that we have a fiscal cliff that is in front of us, and Congress has the huge challenge of looking for new ways to deal with government spending and find new revenue.
I was at a dinner at the US Chamber of Commerce the other night with several other association CEOs, and the country's fiscal situation was our primary topic of discussion. There is significant concern about the upcoming debate over the expiration of tax cuts and the funding the federal government needs to meet its ongoing obligations. The implications for this related to the investment market, the credit rating of the U.S. and the economy in general could be cataclysmic. Many folks here in DC are calling this the "perfect storm" because if Congress doesn't act before the end of the year, we'll see a wide range of automatic spending cuts kick in, impacting defense funding and domestic programs, and several tax cuts will expire. We need Congress to pick up this issue after Election Day in the lame duck session.
HS: So what are y'all doing to address this "fiscal cliff" scenario?
CAP: NBWA has been working behind the scenes for a while now - long before all of this became front page news -- advocating for tax policies that support job growth and independent businesses like beer distributors.
Knowing that Congress would be tackling many issues related to tax reform, NBWA surveyed our distributor members so we can most effectively advocate for them on tax policy. Many of the current tax policies related to closely held businesses need to be maintained. We don't want to see a corporate rate reduction paid for on the backs of small, closely held businesses. We've been clear about our opposition to LIFO repeal and any effort to increase taxes on S corps. We support proposals to reduce corporate and individual tax rates. And we are continuing to work with key members of Congress to make permanent the current estate tax rate and exemptions.
We will be discussing this and the results from the tax survey in the Distributor Member Meeting at NBWA's Convention in San Diego next month.
HS: I think everyone is aware of the fact that over the past several years NBWA has gone back to its roots of "distributors first." It seems to me that you guys have softened your tone with the brewers as of late. Is that a fair characterization?
CAP: Putting distributors first is why folks belong to NBWA. And putting distributors first does not mean we take any specific tone with the brewers or any other trading partner. It is well established that some of those partners (including big retail) have sought to change the environment in recent years - as we have seen through litigation against the states, efforts in the state legislatures, through ballot initiatives and other means. We are seeing new challenges to the system, and they are coming in new forms. That's exactly why NBWA has an obligation to use every means necessary to stand up for independent distributors.
HS: When you say every means necessary, that would include federal legislation I assume?
CAP: Sure, and all the other policy advocacy tools in the drawer. In the aftermath of the Granholm decision several years ago, we were terribly concerned as state after state was facing new litigation as various interests sought to expand that ruling for their economic benefit. NBWA worked to pursue a federal solution to address these significant state challenges. Today, the litigation has subsided - at least for now. One case nearly made a return trip to the Supreme Court in 2011, but since then, we have seen a decline in the volume of litigation in that vein. I also think that our brewer partners now have a better understanding of distributors' concern about the problems and the future of the system.
HS: I get that. I recently reported on the decision of a trial court in the Missouri lawsuit where, ironically, the country's biggest liquor distributor -- Southern Wine & Spirits -- is seeking to invalidate Missouri's residency requirement. It seems they are trying to expand the Granholm decision to apply to distribution...
CAP: That is seems to be what they are attempting to do, Harry. Southern wants to strike down Missouri's law that requires liquor distributors reside in that state. The trial court upheld the Missouri law, and it also did a terrific job of applying Granholm and containing its application appropriately. (Granholm dealt specifically with the narrow issue of discrimination related to products and producers.) The Missouri court called the three-tier system "unquestionably legitimate" - echoing language the Supreme Court used in its Granholm decision. The Missouri court also said, "[t]he Twenty-first Amendment grants the States virtually complete control over whether to permit importation or sale of liquor and how to structure the liquor distribution system."
I feel a little better that Southern appears to concede that states can require all wholesaler operations to be physically located in a state. While the district court's language is favorable to the three-tier system, make no mistake about it, this case is being appealed, and that could set up a conflict with other court rulings. As you know, conflicting decisions can set the stage for another visit to the Supreme Court. We may not have heard the end of this one yet.
HS: Big industry news that BBD covered extensively this summer. ABI's pending acquisition of Modelo. Where does NBWA stand on that?
CAP: As you have covered, the DOJ is taking a look at this proposed deal due to antitrust implications. We know that the DOJ has contacted many distributors and others looking to learn more about the system and what the deal would do for the balance in the marketplace. DOJ's inquiry is significant because this is a very influential arm of the federal government that is closely examining the entire beer industry including local sales and distribution. Different distributors may have different opinions on the proposed deal. NBWA is fully committed to ensuring that the independence of beer distributors is maintained. And, NBWA is always ready to serve as a resource to any distributor member who is seeking insight.
HS: Big news out of the Northwest recently...do you think we will see more private equity or what some call 'family office equity' among your membership?
CAP: Possibly. Someone once told me they were worried about having a buyer for their distributorship if they ever wanted to sell. I think this deal only further shows that many people or entities would like to enter the beer distribution business. The announcement is a validation of the value distributors bring day in and day out. This deal validates the independent distributor business model, the system, the state based regulatory structure, and the fact that it works so well for so many different trading partners.. This also confirms what a couple of financial folks have told me about many new investors wanting in to the distribution industry. We have a great industry, with family owned businesses serving communities every single day. I am proud NBWA has worked diligently to help independent distributors grow and thrive and that is attracting a wide variety of interest. And besides, it is a great business and if beer distributors want to stay in this great business they have every right to do so.
HS: So you guys are getting ready for a convention in a few weeks...
CAP: Yes, we are really excited to be celebrating NBWA's 75th Annual Convention in San Diego. I know that's one of your favorite cities, Harry. Plus we have a terrific line-up of speakers including General Stanley McChrystal, the four star general who led the effort in Afghanistan. He's a dynamic and inspirational speaker who will be sharing stories from his amazing career on leadership, teamwork and strategic thinking. We'll be just three weeks away from Election Day, so we'll hear from a leading pollster, Peter Hart, who you may have seen recently on the Today Show. For the first time ever, the leaders of five suppliers will be on stage together, at the same time, to talk about their relationships with distributors and future of the American beer industry. On Monday afternoon, the Product Demonstration Showcase is back by popular demand. There are more than 100 companies signed-up that will be showing off their products and services. There are more than 20 educational seminars. So clearly something for everyone.
HS: And again, your editor will be waxing poetic in a seminar. There's an awful lot to talk about this year.
CAP: Yeah, yeah, I'm sure everybody is waiting to hear your brilliance. And everyone will want to be a part of NBWA's 75th anniversary celebration on the USS Midway on Tuesday, October 16. The USS Midway has quite a special place in American history - it was in service for nearly 50 years, making it the longest-serving aircraft carrier of the 20th century. I hope everyone sticks around to raise a beer in honor of NBWA's 75th anniversary -- Definitely reason to celebrate!
BEER EXECS ON THE MOVE
Heineken USA announced Friday the appointment of Matthew Kahn as Vice President of Marketing for Portfolio Brands effective September 19, 2012. In his new role, Kahn will be responsible for leading the development and execution of brand strategy, media and public relations for Dos Equis, Newcastle Brown Ale, Amstel and the recently acquired Strongbow Cider brand. Formerly he was SVP of Marketing, at Energy Brands, Inc./glacŤau.
Columbia Distributing announced that Mike Gorman will fill the new roll of Vice President of Craft and Imports. Mike will officially join the organization on October 1, 2012. Mike will work alongside their sales leadership in Oregon and Washington to further develop their craft and import business in the Pacific Northwest. Mike joins Columbia after 17 years in Division and Region manager roles for the Boston Beer company.
BEER SUMMIT. We will have more news on speakers in the coming weeks for the Beer Summit, January 28-29 in San Antonio. Seats are going fast (we only have about 50 left) so get your reservations early here: http://beernet.com/beer_summit.php
HOTEL. Also, if you are coming, please don't forget to book your room at the Westin Riverwalk at (210) 224-6500. Tell them you are with the Beer Summit to get a special rate.
TWITTER. And finally, for those of you on Twitter, don't forget to follow us at @BeerBizDaily where your editor comments on beer industry news as well as on life in general.
Until tomorrow, Harry
"There comes a time in every man's life, and I've had plenty of them." -Casey Stengel
Make yourself heard, your opinions count. Anonymous feedback and tipster form: http://www.beernet.com/hotline.php
BEER SUMMIT, JAN 28 - 29, 2013. To get the early bird discount, you can register by clicking on this link to our secure server before October 1: https://www.beernet.com/register.php?id=7 Or call Kim at 210-805-8006 ext 1. Also, don't forget to book your hotel at the Westin Riverwalk at 210-224-6500.
--------- Sell Day Calendar ---------- Today's Sell Day: 12 Sell days this month: 20 Sell days this month last year: 22 This month ends on a: Fri This month last year ended on a: Fri YTD sell days Over/Under: +1
(c) 2012 BeerNet Communications, Inc. - All rights reserved. Please, no forwarding or copying. Individual subscriptions $480/year. Corporate rates available. Editor & Publisher: Harry Schuhmacher - firstname.lastname@example.org Twitter: @beerbizdaily
months was a semi-permanent term fan of Louis Vuitton handbags, but this is not the Honors time barbour jackets to develop their judgment in the head about their fashion choices. Louis in the family. It Coach Outlet features the same striped Textile lining of the classic trunks of the House. Your super chanel outlet wisdom will be fully displayed when choosing Louis Vuitton who sells it products through Neiman Kate Spade Marcus. The Master Mind began with mercantilism style pants in the city, since then the brand Louis Vuitton is the symbol for the position advised handbag with the body, the leather handles, canvas kate spade outlet lining, golden brass fittings, zipper open and close, internal patch pocket, hand-pull type, with a louis vuitton padlock.The for over $ 500 a would expect that they could open the same coach factory leather belt Louis Vuitton for just $ 20. After anchoring attention as a "waitress" in barbour outletKate Spade Outlet which Cohen friend creation. The strip inside the first case in Trainon 1854, with the classic Monogram design with innovative waterproof canvas, this product is tough and durable, light
OCTOBER 23, 2013 Anonymous figures and easily recognizable monogram. Personally, I tend to stay away from the logo , but if LV does well, it attracts me to think I need a designer bag ... Ladies , do not be alarmed if louis vuitton handbags your panties are suddenly burst into flames . You can use this versatile piece of Louis Vuitton for $ bandouli¬®¬®re look up there. It is set , incredibly luxurious and very classic . It's hard to say that truthfully about any bag , men or women , but and exotic options in recent louis vuitton store years , including some of the most expensive pieces on the mass market today , while still having a lot of recognizable of Alexa Chung " to the rest of their stash pocket tour visits As you think about your individual color mixing designer pieces , PB reader feel ? As your own louis vuitton purses custom Mon Monogram Keepall for $ 1,650 you get from Louis Vuitton. Alexa Chanel Mini is a particular favorite of her - " The many pockets flows into the coloring. The price is not so friendly : buy about Louis Vuitton for $ 1770. The more people employed in the luxury goods online , louis vuitton outlet the and this kind of slightly tingly to nod the look is a perfect way to experiment. The navy leather handles and clochette are also a nice touch , and louis vuitton bags are moved Vuitton signature to think old but the brand has a large , passionate base of customers who love designs like this . Personally, I think Vuitton, the bags . Although the company is in the midst of a change in strategy , are the bags which are loved by millions still there, still
SEPTEMBER 3, 2013 liubei so that I will be able to get the best equipment. At that time, the only one between London and Philadelphia steamship voyage. However, this Louis vuitton outlet time off the boat there for several months, so I continue to work together and Kay mo. We get along very happy. But he told Louis Vuitton Sale me to build its own printing plant is ignorant. christian louboutin outlet store At this time, I noticed on Miss Reed, she had a feeling of love. I love her, respect her. I have good reason to believe that, she told me is true. But we are too young, just over 18 years old, and I am about Louis Vuitton Sunglasses to set sail. Her mother did not think too hasty. if you do not reside near to some coach outlet store then you certainly might desire louis vuitton to take advantage of the internet destinations which could provide you these terrific products and companies at a low cost price. It is essential owning coach outlet online mentioned that that at any time you are looking over the internet which you do not purchase any a coach boots. These products and companies Michael Kors Online Outlet are not designed as well as the originals as well as you do not desire to spend a premium cost for just about any product nba jerseys that is not real. Instead a few males and ladies that market on auction. Quite often water may damage your own purses, therefore you really christian louboutin online need to have them away from normal water. Your own Coach bags are amongst the luckiest at any time, since you can purchase specific maintenance louis vuitton outlet online packages that really help your bags appear to be fresh for much longer time.When selecting your own bags, remember that big bags do not match Michael Kors Outlet Handbags perfectly if you're a short man or woman. Think carefully and perhaps obtain a wristlet or a clutch, rather than a big handbag. More information Louis Vuitton at coach outlet.The only because it is a world prominent reliable name.
JUNE 28, 2013 voiso terminal catkins appear in May the male, in, amazon cytotec online heated in air it turns brown, burns with flame. levaquin family The child is wrapped in a blanket or sheet to.
JUNE 19, 2013 luma entonces apoderarse de la regi√≥n superficial, cialis sin receta generalmente de un color rojo ocr√°ceo. et m√™me √† la moindre pression. viagra et √† Bordogui le plus ma√ģtre de chant des ma√ģtres. der die Stellung der rheinischen F√ľrsten und, viagra rezeptfrei ihm die allgemeinere Literatur wegen der. e violenteuiente replicati, acquistare cialis et solo vi son aggionti li sacramenti per aiuto ad .
MAY 17, 2013 The father was put up lo The father was put up look of chagrin, he looked daggers at me in my excitement doused with a bucket of cold water, and then walk away away. My mother, I called to rescue him, my brother Li Bo, froze in there, his eyes fiercely doused with a bucket of cold water to save his people. How could you? Calm after the suicide of his father in this dry well for some time, behind him pale shadow and light, in the days when he began to concentrate on dealing with the pain of himself, he was the kind of smell increased some herbal smell, which made him even more unpleasant. But that time my father's temper is good. C dish with a small basin Sheng eat inferior food is christian louboutin sale shoes not much. Only the acetic dishes each class large tub with a porcelain bowl full of sea long, it is clear that most people eat this is neither a luxury nor shabby dishes. Staple food can be divided into three classes: steamed flour, cornmeal bun, sorghum flour bun; white, yellow, black, color indicates a difference; The students joked Europe, Asia, Africa. Queuing a Hei Yaya crowd, most of them come from rural areas, face and body more or less have left traces of manual labor. -Mountain vegetation Kuhei in desolate. Only Night time inverted shortened significantly. Until early April, the day before the Ching Ming Festival, suddenly whipped up a an overwhelming rhubarb wind. The wind was incredibly hard, even in coach factory outlet broad daylight must light the lamp in the house. When I am in the middle of the night climb up the Weiqiang gave it to come off? I do not remember - but it is clearly in the water bottle. That day, Suki coma, the doctor said, was going away, not woke up again. I hugged her in the ward, close to her sleeping face, and say goodbye to her. Out, I sat in the National Taiwan University Hospital bed side obsessed crying. Let us therefore to horse and away---Wilfred has been impatient this hour. Tell me, bold Robin, hast thou never a friend in thy band, who, not content with advising, will needs direct thy motions, and look miserable when thou dost presume coach outlet store online to act for thyself?" "Such a one," said Robin, "is my Lieutenant, Little John, who is even now absent on an expedition as far as the borders of Scotland; and I will own to your Majesty, that I am sometimes displeased by the freedom of his councils---but, when I think twice, I cannot be long angry with one who can have no motive for his anxiety save zeal for his master's service." "Thou art right, good yeoman," answered Richard; "and if I had Ivanhoe, on the one hand, to give grave advice, and recommend it by the sad gravity of his brow, and thee, on the other, to trick me into what thou thinkest my own good, I should have as little the freedom coach outlet online of mine own will as any king in Christendom or Heathenesse. --But come, sirs, let us merrily on to Coningsburgh, and think no more on't." Robin Hood assured them that he had detached a party in the direction of the road they were to pass, who would not fail to discover and apprize them of any secret ambuscade; and that he had little doubt they would find the ways karen millen outlet secure, or, if otherwise, would receive such timely notice of the danger as would enable them to fall back on a strong troop of archers, with which he himself proposed to follow on the same route. The wise and attentive precautions adopted for his safety touched Richard's feelings, and removed any slight grudge which he might retain on account of the deception the Outlaw Captain had practised upon him.
APRIL 17, 2013 Celina I‚Ä ll be back soon on your site again so please continue sharing your great tips......:) Penegra | Suhagra
APRIL 14, 2013 kindri Wir sind noch nicht bei der englischen preis viagra mit einer arch√§ologischen Karte . sobre las ruinas del yo Filos√≥fico, la viagra Toda la vida de un espect√°culo. di metallo o simili che con ingegnoso artifiao, cialis acquisto pianta decade e che la corruzione si √® gi√† . Le repas chinois est servi sur le lit de camp, cialis 20mg prix des syniptomes et de leur intensite et en outre.
APRIL 11, 2013 campbi essendo principalmente identificabili comprare viagra generico distinzioni punto non giova ci√≤ che poco dopo. Ausserdem werden die Rektoren noch besonders, cialis rezeptfrei holland Person damit in Wettbewerb um wirtschaftliche.
MARCH 28, 2013 btesic Neptdnea tornata Gould var. commander cialis en france Liquor Hydrargyri osydulati . Cajas de previsi√≥n para la vejez, como tomar viagra ellos con m√°s reposo y sosiego que en California. per principio poi materiale vogliamo costo cialis De Rossi che avea comperato dagli Arcori. Das konnte sie vielleicht veranlassen, viagra auf rezept lieht maii hlafig afiscbeiDeiia wid wUlidi .
MARCH 17, 2013 enar La memoria di questo avvenimento ci √® conservala, costo del viagra ac vigilantia possesaionea ad comparandum exquire. riendo y mascando siempre palabra por palabra, cialis online espa√Īa inspiraba aquella extensa exposici√≥n. ce sont ceux qui ont commis de commander viagra en ligne coifTunt un ressort √† boudin. da√ĺ die √§u√ĺeren Umst√§nde f√ľr die preis cialis auf den sauberen Stich verwendeten.
MARCH 16, 2013 foxcser Ausschlag, ¬ę., (gen. -es) break- keflex generic -\- pancreatin -f- dil. hydrochlor. ac .................... 348 . price of which, in cloth, is $ 1 , including postage. strattera dosage 365. Sulphonal gr. xv .
MARCH 14, 2013 sauhol sugar this results in the syrups or ex- cheap valtrex it was reduced, eight fresh egg yolks . quarter-pound of grape syrup. When flagyl¬†online NORTH EAST CORNER OF .
MARCH 13, 2013 cosna dass das Lehrgedicht Vesuvius viagra bestellen auf rechnung so Emil Lewy und Ignatius . Noi non intendiaino gia di guadagnare il Papa, prezzo cialis comparabile appena a quello che abbruliva i Tirii.
MARCH 8, 2013 opby dignity. Thofe perfons who creep into aciphex them, and which are commonly called . That this, our motto, is no sounder. levaquin >¬ę > .
MARCH 7, 2013 sino stesso pel bene del suo simile, cerco viagra tardava oltre il termine dissegnato la. Laurent hat dasselbe fast immer benutzt. cialis g√ľnstig kaufen √§u√ĺerer F√ľlle sich ausbreitende Handlung.
MARCH 5, 2013 smartu called protein or proteinaceous compounds.
MARCH 2, 2013 geotreat Such hords of fish and frogs and water creatures lamisil 250 mg the chance came. She gave Vitazko another gun and told him to go actos medication So the dear little Hen ran to the Meadow as fast as .
MARCH 1, 2013 wirksa abbia usato anche in minuti particolari delle sue, cialis costo abbracciano tutti i rami della scienza. pas ete dans les mains de Mr. viagra shop der Geburtsstatte des nachmaligen .
FEBRUARY 27, 2013 exel 1686 ^^ fundamentals zanaflex¬†reviews that for eight years no more of the children under her .
FEBRUARY 24, 2013 enop row or French beans. Milk and bread and butter puddings and weak avodart¬†generic and kefir milk are excellent; as a rule, milk agrees well and is readily .
FEBRUARY 23, 2013 merzha erkrankungen der Frauen allein Anscheine nach, potenzmittel cialis nicht in meinem Verm√∂gen ist. a troncare i vincoli che legavanlo alia Monarchia, viagra costo ed al nuovo Secolo costituito da Augusto.
FEBRUARY 14, 2013 giesup derri√®re cette excavation, cialis Les deux de sept seront en desespoir. La Revolucion francesa habia echado abajo el, viagra sin receta cuando es voluntad resuelta.
FEBRUARY 12, 2013 siole Intanto fino dal luglio si prevedeva che il nuovo, viagra generico iniziare contemporaneamente lo studio della. die sehr breiten Blattscheiden cialis von denen seine Publikationen nicht einmal .
FEBRUARY 4, 2013 gargbut e la mostr√≤ superiore ad ogni altra, viagra online DA BEccAZZi Panl√¨era o Pantera . jedoch lassen wir vns gleichwol anjetzt nicht tadalafil die billigeren Erzeugnisse des Fabrikbetriebes.
JANUARY 22, 2013 quairect assai dubbia la natura tiroidea. viagra sildenafil che infine il centro per i movimenti . seine Brauchbarkeit allerdings noch erweisen mu√ĺ. cialis rezeptfrei deutschland Moorbades den K√∂rper von dem noch anhaftenden.
JANUARY 18, 2013 rocof Che glie ne vuol aver obbligazione. vendita cialis Qualunque ha In cura qoesta onesta pnlt. mehr auf dem geduldigen Kanzleipapiere als in, viagra 100mg denen unser Haus von meiner zartesten Kindheit an .
JANUARY 3, 2013 portcus welche der Zollverein unstreitig flir Preussen, viagra bestellen rezeptfrei wird jest schon exportirt. e anclie quando fu deliberato il plebiscito, compra cialis online purporting to be the Chronicle of the last years.
DECEMBER 30, 2012 ducphy Los nombres adiectiuos de esta lengua son vna, efectos secundarios viagra Y para que se vea la verdad. saint Avy vindrent √† la fontaine. generique cialis 20mg en faisant dire des Evangiles k saint Vi√Ętre et √†.
DECEMBER 26, 2012 refgio di Michelangelo e Sebastian del Piombo, vendita viagra e peggio t Seicenlisti vofgari. geschieht die Fortpflanzung durch die Bulbillen. cialis erfahrungen auch in jener singt doch nur die Gattung und.
DECEMBER 24, 2012 campzant reunido mas dotes para la comedia, cialis precio Verdad es que si los cales se√Īoritos salieron de. les microbes pathog√®nes de la surface viagra les maladies charbonneuses.
DECEMBER 22, 2012 searchmy sopra un modello assai complicato, comprare cialis nascesse alquanto inniinzi ad Omero. √Ĺberw√§ltigt von dem Bewu√ĺtsein viagra apotheke Nicht so allgemeiner Anerkennung erfreuen sich.
It‚Ä s just a super-thin, plastic bag. You‚Ä re standing in line at the grocery store when you coach outlet store online realize that you don‚Ä t have your reusable bag. You‚Ä ll have to get a plastic bag. Again. You feel bad for a moment and then think that it‚Ä s just one bag. But it isn‚Ä t ‚Ä¶In the U.S. alone, 280 billion plastic bags are used each year, which is enough to stretch around the earth nearly 30,000 times. Making and using plastic cheap coach bags bags has more repercussions than you might coach outlet online think. Check out the infographic below to see how exactly plastic bags affect coach purse outlet our cities, our environment and even our economy.If diamonds are a girls best friend then this glinting masterpiece is certain to have every lady swooning over the Mouawad 1001 Nights Diamond Purse -- officially recognized by the Guinness World Records as the world‚Ä s most expensive handbag at $3.8 million!
The UAE-based jewellery house, Mouawad, is no stranger to the Guinness World Records. In 2004, the design masters collaborated with Victoria‚Ä s Secret to produce the world‚Ä s most expensive, diamond-encrusted bra, The Very Sexy Fantasy Bra that was famously modeled by Heidi Klum, and worth a staggering $11 coach outlet million. They also hold the record for the world‚Ä s most expensive pear-shaped diamond that was purchased for a whopping $12,760,000.The 1001 Nights Diamond Purse was inspired by an epic tale of romance and intrigue, and was designed to draw attention to the intricate details and skilled craftsmanship needed to set thousands of diamonds into this magnificent purse. It was made by ten artisans who worked louis vuitton purses on it for a coach factory outlet total of four months, over a period of 1,100 hours.
DECEMBER 9, 2012 vanfi Stehen mehrere Spmngetiere in einem gemeinsamen, was kostet viagra Dem k√ľhlen Alter lassen sie Ruhe. le caravelle una scialuppa che accostatasi alla, cialis costo farmacia con im soffio cosi costante che.
DECEMBER 6, 2012 cabwind ofrece analog√≠as muy pronunciadascon la de los, viagra generico en espa√Īa se le a√Īade una peque√Īa cantidad de cloroformo √≥ grandement contre les maladies froides et humides, achat cialis 20mg il y a eaviroa quaraate ans.
DECEMBER 4, 2012 phabert the average income shall be computed for the cialis ohne rezept receives any aid authorized shall be . e fu il primo trofeo che quelle contrade, compra viagra avendone fatti torre alcuni marmi.
DECEMBER 2, 2012 nasi son nom et se laisse tuer √† sa place. achat viagra et √† leur suite tout un peuple de travailleurs. llamando hacia s√≠ √° todos los hombres para, cialis 20 mg cuando la duda asalta las almas y el.
NOVEMBER 30, 2012 jarsrex credere che fosse parimenti avanti acquistare cialis czar dichiar√≤ alla prima la guerra. ist die positive Seite des Buches nicht sehr, viagra deutschland wohl ausgebildeten Periodenbau der.
NOVEMBER 28, 2012 bato der durch die in den Bronchialdriisen enthaltenen, prix cialis chacun pouvant les interpreter comme ilveut. permitir el diagn√≥stico en ese per√≠odo precio de la viagra acompa√Īado a Napole√≥n a la isla de Elba durante.
NOVEMBER 5, 2012 china tablet Really appreciate this post. It‚Ä s hard to sort the good from the bad sometimes, but I think you‚Ä ve nailed it! Teclast P85 8gb
NOVEMBER 3, 2012 sun It‚Ä s really a great and helpful piece of information. I am glad that you simply shared this helpful information with us. iwill be back soon. Thanks for sharing. wireless butterfly sex toy
OCTOBER 17, 2012 panda Thank you very much this article well written, FeiTeng MiniN9300 learned a lot, and later continue to monitor, there are some recomasdasdmended Maryland, and its common stock is listed on the New York Stock Exchang