Several dozen of them make superb wine, but even in exciting, small-crop vintages like 2003 Bordeaux as a whole may simply be producing too much wine, at too high a price, for a world with so many other wine options.

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Additionally, price-earnings ratios stood much too advanced in a high interest rate environment.

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Ms. Black said profit margins on unit-dose detergents are constrained because the wholesale price is already high, so the retailer is wary of putting too much of a markup on it.

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