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VIEDA Holds Public Hearing, Governing Board Decision Meeting

The V.I. Economic Development Authority will hold a hearing for the Economic Development Commission (EDC) at 9 a.m. on Friday,…

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Half a dozen young people, local artists and music producers have created a peace song for Carnival 2014. To read more about the song, click here.
 

 
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Education Releases Final 2014-2015 School Calendar

Gov. John P. deJongh Jr. signed the 2014-2015 school calendar on Tuesday, July 22, and it was officially released by the Department of Education. According to the calendar, opening and closing dates for school are Sept. 2, 2014 and June 19, 2015.

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2014-07-22 21:48:12
St. Croix Man Shot, Killed While Driving

 St. Croix resident Eddie Harriett Jr., age 19, died from shots fired while driving a vehicle on the Queen Mary Highway near the Estate Lower Love Service Station at about 3:20 p.m. July 21, according to the police.

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2014-07-22 14:39:42
V.I. Little League Team Defeats Cayman Islands and Puerto Rico in the Bahamas

The Virgin Islands Major Little League team defeated Cayman Islands on Saturday and Puerto Rico on Sunday in the 2014 Latin American Regional Major Little League tournament in Freeport, Bahamas.

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2014-07-22 00:02:01
Local news — St. Croix
Nothing Beside Remains: Prosser Wines Sold Off

Former Vitelco owner Jeffrey Prosser's wines were auctioned off Saturday. (Bill Kossler photo)
Former Vitelco owner Jeffrey Prosser's wines were auctioned off Saturday. (Bill Kossler photo)

The remains of bankrupt former Vitelco owner Jeffrey Prosser's St. Croix wine collection were sold at auction Saturday at Quality Foods in Castle Coakley, for a fraction of their market value in good condition.

Prosser purchased millions of dollars of wine with company money while owner of Innovative and Vitelco. He purchased $6 million in wine with one credit card, from one wholesaler, from 1999 to 2006, putting it on a company credit card in his name that was then paid off by New ICC – and ultimately by Vitelco and Innovative Cable TV ratepayers.

The wines sold Saturday were from Prosser's Estate Shoys residence. A court ordered inventory in 2008 found 980 bottles with an estimated worth of about $491,000. In 2011, a second inventory found 453 bottles worth $139,000 missing. A wine expert tested six bottles of the must durable wines among the remaining 527 bottles, initially valued at $212,000, and "testified that none of the wines located at the Shoys Estate were marketable or had any sale value," according to the bankruptcy court's opinion sanctioning Prosser for misconduct.

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Auctioneer Stan Crooks from Auction America first took bulk bids for the entire collection, then took bits for individual lots, in case the individual lots fetched more cumulatively than the entire collection. A representative of Food Town supermarket bid $17,000 for the entire lot. That sum was exceeded during the second round of bidding, when more than half the bottles were sold, so the wine was sold in individual lots to a dozen separate bidders, purchasing for private collection and consumption.

Crooks said he would not have final sales totals for a few day. But the manner of bidding resulted in lower bids for subsequent lots, so the wine sold later in the auction fetched progressively less per bottle as bidding proceeded. So since more than half the bottles were sold when the $17,000 threshold was reached, the final tally must be between the $17,000 and twice that amount – $34,000 – and probably closer to the lower end of that range.

Among the nicer selections available Saturday were several lots of Chateau Petrus Pomerol, including several 1982 vintages nominally worth thousands per bottle, and a lot of 10 bottles of 1986 Chateau Y'Quem Sauternes, a highly prized white dessert wine that tends to age very well.
 

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