TWE Can Only Win in US if It Stays

Dear Client: Yesterday at Treasury Wine Estate's (TWE) annual general meeting company leadership discussed its plans for the US market and finding a new chief. Recall former chief David Dearie was ousted after the company was forced to destroy 600,000 cases of old and unsold wine in the US and a $145.4 million writedown ( see WSD 09-22-2013). Shortly after the announcement speculation arose that TWE might sell of its US business (see WSD 09-23-2013). TWE chairman Paul Rayner shot