1. E. & J. Gallo Winery was founded in 1933 in Modesto, California, by Ernest and Julio Gallo and remains a privately held, family business. Gallo is the largest wine producer in the world, with $1.5 billion in sales. Currently, the second generation of the founders family is running the winery while the third generation is rising in leadership of the firm. Describe the challenge of succession in this important firm. What strategies does the firm use to enable its owners to participate in the harvest? What methods for harvest would you suggest?

You will have to do your own research on the above assignment. 2. Explain the purpose and value of staged financing (a) for investors.(B) for the entrepreneur(s).