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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsKoch Brother Loses It On Air After Blowing Millions on Bogus Wine
William Koch is a lesser known member of the infamous Koch clan of chemicals moguls, though he still ranks asnumber 392 on Forbess list of the worlds billionaires with an estimated net worth of $4 billion. This weekend, he got some press of his own, however, with an interview on ABCs 20/20? in which he admitted to being a pigeon, a sucker
whatever you want to call it for having spent millions of dollarsyes,millions of dollarson fake wine. Perhaps you thought that the Koch Brothers were soulless wannabe aristocrats? Think again. At one point during the segment, Koch actually breaks into tears over his passion for rare wine.
Titled To Catch a Fake, the 20/20? piece reported on the impending sentencing of Rudy Kurniawan, an Indonesian wine merchant who was based in Bel-Air, California. Known for his lavish lifestylehe hung with (totally random) celebs like Jackie Chan, Lionel Richie, and Will SmithKurniawan earned tens of millions of dollars fleecing wealthy buyers, and the report details how he manufactured the puportedly rare, decades- and centuries-old wines in the counterfeit kitchen of his suburban home by soaking labels off bottles, printing up new ones that sported much-coveted names like Chateau Petrus Pomerol, and then filling them with combinations of cheap wine from other bottles.
Kochs fake wine woesand the catalyst for his suspicions about Kurniawan bottleswere chronicled in Benjamin Wallaces fascinating 2008 book The Billionaires Vinegar which told the story of The Mystery of the Worlds Most Expensive Bottle of Wine. In 1985, at an auction in Christies London, the Forbes family was the buyer of a bottle of what was purportedly a 1787 Chateau Lafitte (now spelled Lafite) found in a cellar in France with an elaborate story concocted and sold alongside it that the bottle had been owned by Thomas Jefferson. The Forbes family paid $156,000 for the bottle after a heated bidding war with top wine collectors including Marvin Shanken, the man behind Wine Spectator magazine. In 1988, Koch bought four bottles with the same back story. When doubts and rumors about the wines being fake hit a crescendo several years later, it was Koch who doggedly pursued scientific analysis that ultimately showed they were created by a German forger. Koch had paid more than $100,000 per bottle. Those prices may seem exorbitant, but the global auction market for fine and vintage wines is enormous, and totaled $337 million in sales in 2013.
So, how much wine does one have to buy to be ripped off of literally millions of dollars? Koch says that he got stuck with between 400 to 500 fake bottles bought from Kurniawan and others. (A wine expert interviewed in the report refers to wine collectors as bravado jackasses with a my bottles bigger than your bottle complex.)
http://news.artnet.com/market/koch-brother-loses-it-on-air-after-blowing-millions-on-bogus-wine-41162#.U6G66oSiAfE.facebook
Some cheese to go with that whine?
BillZBubb
(10,650 posts)sheshe2
(83,757 posts)Thanks for the thread Earth First!
Uncle Joe
(58,361 posts)Thanks for the thread, Earth_First.
olegramps
(8,200 posts)n2doc
(47,953 posts)nomorenomore08
(13,324 posts)Also note that he's serving the stuff over ice for very good reason.
msanthrope
(37,549 posts)nikto
(3,284 posts)Response to nikto (Reply #25)
tritsofme This message was self-deleted by its author.
A Simple Game
(9,214 posts)Not that is tasted that good on the way down, and it seems that there was always a second time.
On the other hand Boone's Farm, otherwise known as Koolaid with a kick, at least tasted good on the way down.
For a dollar a liter, may have been a quart back then, you should be able to expect some level of quality.
Observations from 45 years ago, times may have changed.
tech3149
(4,452 posts)I whole heartedly agree on both points.
The Second Stone
(2,900 posts)but that was so amazingly painful.
lapfog_1
(29,199 posts)Ghost in the Machine
(14,912 posts)When I was 16 years old, I chugged two bottles back to back on a dare. We had already been drinking some vodka and some beer, and had burned a few too!
Soon as I finished the 2nd bottle, the first one kicked in.. the whole freaking world started spinning 1000mph, then I got sick as a dog, throwing that crap up for an hour! Here it is, 35 years later, and to this day I cannot *stand* the smell of that stuff. I can smell it if someone has been drinking it, and I still start to wretch and gag!!
Ahh, the summers of our youth and stupidity, huh? LOL!
Peace,
Ghost
lululu
(301 posts)At a high enough blood alcohol level, there's not enough actual blood to support life.
Ghost in the Machine
(14,912 posts)Enthusiast
(50,983 posts)Really.
Erose999
(5,624 posts)tritsofme
(17,377 posts)Bad/lack of memories from both.
rustydog
(9,186 posts)Crackers, perhaps?
DonCoquixote
(13,616 posts)but in truth, it illustates the utter folly of letting these bastards have so much disposable income. It is one thing to spend several hundred thosuand on a bottle of wine. Hell, there may be valid historical reasons to do so, especially if you are a wine producer that is hoping to maintain or learn from the masters. I could see various wine companies bidding for these items, but individuals, who would keep this as if it was another bottle to have at dinner with pasta? UGH.
But the Koches do not stop there. It is one thing to blow 5 million dollars on WINE, it is another to have an ego so big that you spend 25 million dollars seeking revenge on the con men that took advantage of the fact that you were arrogant AND ignorant. #) millions dollars blown on absolutely NOTHING but a spurned ego. No charity benefit to get the whey from the cream, no social value, just one little Peter Pan boy's arrogance. This is also important considering he , unlike even Bill gates, did NOT make the fortune, his daddy did helping Stalin build the same Russian Oil indistry that is allowing Putin to slap around whoever he wants to.
DFW
(54,378 posts)A free society can't put limits on how much disposable income has unless you want to limit Warren Buffett who gave most of his billions away, or entertainers like Bill Cosby or Oprah Winfrey or even Paul McCartney as to how popular their work can become, there has to be another criterion.
There are rich assholes and there the "Joe the plumber" assholes who deservedly don't have a pot to piss in. If an über-rich guy wants to blow money--even ridiculous amount of it--that will get spent instead of languishing in his bank account, I say let him do it.
mountain grammy
(26,620 posts)These imbeciles have way too much money. TAX THE RICH!
How many schools could we fund with this fucker's wine?
Quixote1818
(28,933 posts)He is not nearly as ruthless and has a fraction of the cash. Still an ass hole.
Faryn Balyncd
(5,125 posts)Last edited Fri Jun 20, 2014, 12:09 AM - Edit history (1)
http://www.channelingreality.com/Temp_Dir/Reason_Koch/Koch%20Oil.pdf
Quixote1818
(28,933 posts)HooptieWagon
(17,064 posts)...out of his pocket. That cost $100 million or so. Not a tax deduction. Just to give woman a chance to prove they could compete with men in sailing. He's no where near as bad as his brothers.
Scootaloo
(25,699 posts)Blind taste tests can't tell the difference between the stuff this guy thought he was buying, and the blend I threw in my spaghetti sauce last night.
Aerows
(39,961 posts)by someone that did chemical testing and is reaping a fortune off of the lawsuit!
There is a sucker born every minute.
zeemike
(18,998 posts)But I bet that scam went on for a long time.
The ones that bought would probably not open it because it was so expensive and if they did most would not know what it was suppose to taste like.
But hey, it's the money.
freemay20
(243 posts)I watched the show. I also can not stand the Koch brothers and what they are trying to do to this country. I do however agree with William Koch taking the actions he is taking. He also did not lose it as your headline states. He seemed very normal, distraught over being duped, and intent on making sure the perpetrator does not get away with it again. The person he has suit against also duped many others out of millions of dollars. We talk here on DU about how the Koch Brothers only care about the 1% and how we at this site chest pump that we are all for ALL of the people in this country. HMMM sounds like (per your headline) it is ok for people to get ripped off as long as they are not rich. Stop the self-righteous judgment of a person trying to get back what they were defrauded out of.
So, is this the hypocrisy that is DU, or possibly a post made spur of the moment without a lot of thought because of the name Koch? It is quite evident you did not watch the show but rather relied upon an excerpt or article you happened to have read. If you had watched the show, you would have actually seen he did not "lose", but rather was very upset about being screwed. I salute his aggressive action in trying to bring the asshole that ripped Koch and many others off, not only in the high cost wine sector, but in areas where other people, middle class people, were also ripped off.
I say this with respect as I have learned by doing the same thing it appears you may have done, make a post based upon what I read, rather than actually viewing or researching the true source of said article.
Contrary1
(12,629 posts)I don't think he "lost it". Upset? Sure, who wouldn't be? He has a passion for rare wines. I don't have a problem with that.
I agree with your post.
Quixote1818
(28,933 posts)joshcryer
(62,270 posts)Raine
(30,540 posts)the people of this country by buying the government like his brothers do.
Blanks
(4,835 posts)He kind of teared up a little - about like I do during the sad part of a Disney film. He hardly 'lost it.'
It just happened to be expensive wine, but when the democrats took over both congress and the White House in 2009 they worked to pass consumer protection legislation. Keeping people from defrauding others is a good thing.
Even the wealthy deserve protection from fraud. He shouldn't be ridiculed for trying to prevent fraud in an industry that he is obviously very passionate about IMHO.
BrotherIvan
(9,126 posts)With a nice chianti.
a kennedy
(29,658 posts)Iit's along side a knife & fork pin.... The best reactions are ...."love those pins" and I agree "EAT THE RICH".
nikto
(3,284 posts)Fred Sanders
(23,946 posts)Hassin Bin Sober
(26,327 posts)lovemydog
(11,833 posts)Fred & Grady probably had a good scheme for selling it.
marble falls
(57,081 posts)Bernardo de La Paz
(49,001 posts)His character Joshua settles an old grudge with a childhood friend who is now a successful psychiatrist with a wine cellar. He breaks into the guy's house and soaks off all the labels on the wine bottles. Thus the wine is still good, but the guy can't be a snob about the contents.
Marie Marie
(9,999 posts)The problems of the rich. Bad wine? Try having to choose between food or medication like many poor have to do.
nikto
(3,284 posts)Good God!
dilby
(2,273 posts)Bet it will be worth at least $5 in 30 years.
olegramps
(8,200 posts)cstanleytech
(26,291 posts)nikto
(3,284 posts)TrollBuster9090
(5,954 posts)nikto
(3,284 posts)Hahaha!!
TrollBuster9090
(5,954 posts)secondvariety
(1,245 posts)Lol.
TrollBuster9090
(5,954 posts)TrollBuster9090
(5,954 posts)TrollBuster9090
(5,954 posts)Still...they've definitely reinforced the meme that the wealthy are wealthy because they're superior. Smarter, harder working, more savy... Gotta love it.
joanbarnes
(1,722 posts)Aviation Pro
(12,167 posts)...you flaccid fuck of a trust fund baby. Go cry me a fucking river of grapes, assclown.
Meanwhile, the two other Koccccccccchptuisucker brothers continue to deny that human activity is causing global warming, in spite of the overwhelming evidence presented by....
[font size="36" color="red"]SCIENCE[/font].
Go fuck yourself and the sommelier's knife you rode in on, you fucking walking wad of phlegm.
Harry Monroe
(2,935 posts)cadaverdog
(228 posts)Wino overheard in Santa Monica convenience store.
Initech
(100,070 posts)silvershadow
(10,336 posts)Cha
(297,210 posts)violin!
ellie
(6,929 posts)but I just can't. What a horrible waste of money. A fool and his money are soon parted and all that.
eppur_se_muova
(36,262 posts)knowing it was real life, not fiction, made it much more interesting.
Iggo
(47,552 posts)I gave 20 bucks to a homeless guy so he could get something to eat.
I win.
HooptieWagon
(17,064 posts)You lose.
laundry_queen
(8,646 posts)vehemently sticking up for the Kochs AND making a stereotypical 'joke' about homeless people being winos? You sure you're at the right website? Maybe you took a wrong turn on the intertubes.
HooptieWagon
(17,064 posts)Half of the homeless have problems with substance abuse.
http://usich.gov/issue/substance_abuse
You can argue whether that constitutes a stereotype, but the odds are 50% the $20 the poster claimed to give a homeless person was spent on alcohol or drugs.... which neither helped with their homelessness or their substance abuse problem.
Bill Koch (the only Koch I "defended" was the victim of a crime. If the poster above had stolen $20 from the homeless person, I would have defended the homeless crime victim.
Yes, sometimes I wonder if I'm on the same website I registered for many years ago... especially when some members are blaming the victim and cheering the criminal. I gather you're part of that group. Be careful karma doesn't bite you in the ass someday when the tables are turned.
laundry_queen
(8,646 posts)the alcoholic homeless person spent some of that $20 on food and some on money, and can cope with another day of being homeless. It's called kindness. Try it for poor people sometime. I'm sure the rich can get along without empathy for them.
and WTF do you mean, when the tables are turned? When I'm rich and a victim of a fraud that doesn't make a dent in my bank account? I'll take that karma. Better than being poor and not being the victim of 'crime'. Anyhow, the poor are victims of the Koch brothers' crimes every day of their lives. But you keep on feeling sorry for them.
HooptieWagon
(17,064 posts).. as you have absolutely no clue as to the amount I've done to help, or the degree to which I've been there.
laundry_queen
(8,646 posts)Whatever you do to help the poor is undone by orders of magnitude by those boils on society.
HooptieWagon
(17,064 posts)The money he has is irrelevant. Unlike you, I don't spew hatred that he "deserved it" simply by being wealthy, just as he wouldn't deserve it if he was poor. I haven't defended his brothers at all, that is your fabrication. Your deliberate and persistant lying is a clear indication you've got no argument left.
laundry_queen
(8,646 posts)You don't think you are sticking up for the brothers, I beg to differ. They are of the same class. They made their money the same way. It doesn't mean I lied, it means that I see things differently than you. But you go ahead with the whole 'liar' thing when people disagree with you. Maybe that's what you do when you have no argument left.
I think your posts speak for themselves. I never said once that he deserved to be a victim of a crime (who's lying now? hm?) I said that he didn't deserve pity and my argument is that he shouldn't be whining on tv about it. Nobody cares. Nobody wants to hear a rich guy whining about being defrauded - because that's what him and his family do to society every single day.
HooptieWagon
(17,064 posts)He is estranged from his brothers... not that facts have mattered to you one iota.
laundry_queen
(8,646 posts)Billionaire's problems. But they seem to really matter to you. Bill is that you?
sherihah
(11 posts)it also goes to alcohol
joshcryer
(62,270 posts)Seriously, this guy cried, actual tears, because he bought $25,000-100,000 fake wine.
Actual tears.
While surrounded with hundreds of millions of dollars of artwork.
Please. When he kicks it his family will completely dispense of his massive wine collection and artwork.
tclambert
(11,085 posts)And the fake wine merchants should be ashamed, too.
get the red out
(13,466 posts)Love it!
joeybee12
(56,177 posts)KNR
lonestarnot
(77,097 posts)unblock
(52,221 posts)as if he'd have had real value had the vinegar been exactly as advertised.
meanwhile, children starve.
WhiteTara
(29,711 posts)that someone got "rich" off playing to his rich snobbery. I hope they have a good life and he gets the do whacka doo on his next ill gotten gains purchase of something that shouldn't/doesn't exist.
Spitfire of ATJ
(32,723 posts)Met some.
STILL like this bit...
DFW
(54,378 posts)It's called "The Time Cellar." I know California Peggy and her husband have read advance copies.
Unlike "Billionaire's Vinegar," it's pure fiction, but that removes some of the restrictions that reality puts on stories like this.
Spitfire of ATJ
(32,723 posts)Be it intellectually, morally or physically.
They need to feel superior in more ways than their bank account to justify how they deserve their wealth while flaunting their wealth to one another. I've seen wine cellars accessed by a hidden passage as if it's the Bat Cave.
DFW
(54,378 posts)I have seen enough depictions, but aside from sneezing, don't know what I'd do if I found myself in one.
The Time Cellar is about an impoverished wine nerd who suddenly gets access to the most exotic and prestigious vintage wines in the world, but what he does with them is definitely NOT what people like William Koch do. Sometimes, the fiction IS more fun than the reality.
hamsterjill
(15,220 posts)I thought it made the guy look like the pompous jerk that he already is. Crying because someone took advantage of him because he was stupid.
I like to keep things in perspective. There are hungry children going to bed on cold pavement every night in this country. I don't much care if this idiot is upset about being taken.
Exultant Democracy
(6,594 posts)just so you all know. Not hundreds of millions, but a lot. He like his boat, he likes his wine, and he doesn't like his brothers.
Mnemosyne
(21,363 posts)eallen
(2,953 posts)Whether the boat is old and cheap, or the wine is old and pricey.
Spider Jerusalem
(21,786 posts)http://www.psychologytoday.com/blog/the-decision-tree/201207/cheap-and-expensive-wine-taste-the-same-in-blind-taste-tests
Enthusiast
(50,983 posts)WhoIsNumberNone
(7,875 posts)If you can afford to spend millions of dollars on wine, you've obviously got money to burn. Come see me when you're living under a bridge.
Helen Borg
(3,963 posts)The blood of the people spilled by all the terrible policies pushed by the politicians bought with his money...
HooptieWagon
(17,064 posts)What polititians has he bought? What blood has been spilled? You do understand he is not his brothers, right? Would you call Jimmy Carter a drunken redneck because of HIS brother?
dogknob
(2,431 posts)It is not unreasonable to assume that he is a soulless animal just like the more famous members of his family.
Your comparison to JC goes in the opposite direction, BTW.
HooptieWagon
(17,064 posts)Just saying. The guy is not a sociopath like his brothers. If he wants to spend a load of his money on wine, so what? How does that harm you? What business is it of yours? He also collects art... is that also evil?
dogknob
(2,431 posts)Particularly when a bunch of frat boys discover that they can buy absolute crap for a song, then use their pull with the media to convince everyone that it's worth a zillion dollars...
You know nothing about the "business of art." You don't even know why you like what you like. It is absolute fascism.
http://www.independent.co.uk/news/world/modern-art-was-cia-weapon-1578808.html
KamaAina
(78,249 posts)his brothers'.
BeatleBoot
(7,111 posts)Oh, the joy of watching the bastard choke up and cry...
Helen Borg
(3,963 posts)No amount of money and sheltering will fix the slow and painful disintegration process we all go through with aging.
Oilwellian
(12,647 posts)JohnnyRingo
(18,628 posts)The cons even point out that snoots like Koch buy such rare spirits to brag to other collectors. That makes them easy marks because they so want the wine to be expensive that they literally sell it to themselves. Half the work of the con job is done for them.
Since these con artists aren't cheating senior citizens out of their pensions, I hope the penalty is moot. The billionaires will just pass along the expense through remorselessly shady business dealings.
TexasTowelie
(112,168 posts)White or red?
47of74
(18,470 posts)MADem
(135,425 posts)the wine is local and dare I say, quite CHEAP in terms of price.
What matters is how it tastes.
There is a lesson here, and it's a lesson older than that wine was purported to be:
A fool and his money are soon parted.
Enthusiast
(50,983 posts)Buddha2B
(116 posts)My real name is David Koch. Koch is a fairly common Germanic name which just translates to "cook".
In German the pronunciation is more like: Korhk. Not Coke.
Seeing your own name, is the same as one of the most evil people in the world, doesn't bring much happiness to me.
So yeah, everyone can circle jerk over the name, but just remember they aren't the only Kochs in the world, and a lot of us are on your side.
HooptieWagon
(17,064 posts)Cook is the translation of Koch. A very common German name.
Bill Koch isn't his brothers. And to those cheering his being swindled... he could have profited by keeping quiet and auctioning off his bottles. Instead, he took the $ loss so a con man could be stopped.
LAGC
(5,330 posts)We know you're the REAL David Koch, coming here himself to spread FUD over defamation of your family's "good name."
You won't trick us, imposter!
Your jig is up! :p
Helen Borg
(3,963 posts)Then it's not REAL German!
imthevicar
(811 posts)Would spend so much on a bottle of Wine!? Oh yeah, A fuckin rich greedy Plutocrat! Welcome to our world of fraudsters and liars, (just like you fine folks inflict on us, it's nice to know you aren't exempt from the same crap, Don't expect me to shed any tears.)
I don't care how this sounds to the apologist out their, They got it and don't want to share it. They are a sickness , a pox on this nation. the sooner they go up the long ladder the better off we will all be.
mikeysnot
(4,756 posts)pay our workers shit....
SoapBox
(18,791 posts)HooptieWagon
(17,064 posts)Bill Koch is not his brothers... try doing a little homework before spewing.
You do realize Koch could have kept quiet and auctioned off his wine and gotten his money back, plus a profit? Did he do so? No. Props to him for taking the fraudster down, knowing that his collection would then be worthless.
dogknob
(2,431 posts)In defense of the United States of America, more of these fools need to be separated from their money.
Look at it this way: they use their money as a weapon against us, so we need to disarm them.
Archae
(46,327 posts)You and all the others cheering on that scummy little bastard who cheated people?
This guy is not Robin Hood, he stole millions from a number of people, and kept it all.
The Koch brother who collects wine is the one who blew the whistle on his 2 brothers "short-sticking" (cheating) Native American oil owners.
But *ONLY* because he is a Koch, he deserves to be cheated, and have his money stolen?
The Koch brothers we hear about the most, they collect politicians, in their zeal to control the whole country.
This other Koch brother spends his money on rare wines, wineries employ many people, to grow the grapes, make the wine, etc.
Let me know when you let someone cheat you out of your computer and big-screen TV.
HooptieWagon
(17,064 posts)Just seething with hate...
Coming up next... defending a murderer who kills a wealthy person? At this point I wouldn't be surprised.
KansDem
(28,498 posts)And I'll only charge you $49,995! Cheap at twice the price!
tritsofme
(17,377 posts)LuvNewcastle
(16,845 posts)Initech
(100,070 posts)Gman
(24,780 posts)He actually despises their politics.
http://m.huffpost.com/us/entry/5342694/?utm_hp_ref=william-koch
840high
(17,196 posts)Gman
(24,780 posts)Duh...
Buns_of_Fire
(17,175 posts)The_Commonist
(2,518 posts)It was good! Nice and smoky.
I think I'll finish it tonight.
Yes, you can get a better bottle of wine, and yes, you can pay more for better wine. But how good can it possibly be?
At a certain point, "you get what you pay for" becomes a losing game, and these rich douches really are suckers to play this game.
I'll bet old Bill's high-priced lawyers also think he's a sucker. And they're laughing at him all the way to the bank...
niyad
(113,302 posts)faked a jefferson wine. very interesting how they did it.
bayareaboy
(793 posts)there was lots of making there own wine. Before that there was folks who would scam shipments of wine for pallet sized sales. But it seems if you take big money from the one percent you probably won't do any time.
I would rather buy 1 bottle at a time at the Supermarket.
So do you figure Koch fool has ever had white port & lemon juice?
azurnoir
(45,850 posts)TexasProgresive
(12,157 posts)It went on and on about how they involved in the manufacture of so many of the WONDERFUL products that we use every day and how wonderful their employees are and how wonderful it is to work for them.
I think the Kochs are feeling the pain, let's keep it up and they won't gain.
aquart
(69,014 posts)Useless parasite. It's greed that makes great suckers.
catbyte
(34,384 posts)laundry_queen
(8,646 posts)First: I don't give a crap if he's the 'good brother'. There sure are a few DUers sticking up for someone who is so rich they can afford millions on fake wine and think just because he's the 'good brother' we should cut him a break? Um, no. Even if you are a 'rare wine' connoisseur, if you can spend millions on a BUNCH of bottles of wine, you don't deserve pity. He didn't even realize it by taste. Some connoisseur. I tend to agree with the interviewed wine expert on this point. In fact, I bet you that even the people who sell the 'real' stuff laugh their asses off inside at the money paid for wine (lots of studies show people aren't very good at telling the difference between cheap and expensive wine - it's all about the prestige and the $$ spent for the bottle).
Plus, this is pocket change for him. This would be like me (talking scale-wise here) complaining I bought a crappy soap off of etsy. "They promised it was the world's most luxurious soap ever! I loved it so much that I bought 20 bars! And now I find out it's NOT the world's most luxurious soap! It's regular soap in a fancy package! I've been duped! I'm going to spend $100 to get my $50 back." Can you imagine me going on tv crying about it? LOL. It's ridiculous. These people don't deserve pity, they deserve ridicule. I wonder how much he pays his employees? I bet they would like to split up $5,000,000 or so amongst themselves...they could use it to buy things like food and shelter.
Benton D Struckcheon
(2,347 posts)I only drink for medicinal purposes anyway...
KamaAina
(78,249 posts)Bombero1956
(3,539 posts)a fine Bordeaux wine from the cellars of Thurston Howell III. What a mope.
riqster
(13,986 posts)Shop local! You can find the person responsible if you need to.
Response to Earth_First (Original post)
abakan This message was self-deleted by its author.