11.   Seagram fell after the company warned brokerage analysts in New York yesterday it expects slower earnings growth in its liquor business.

12.   Seagram shares fell to a three-month low last week after the company told analysts its core liquor business faces slower profit growth this fiscal year.

13.   The driving force behind the surprise announcement Monday is the generational divide that has plagued the liquor business for years.

14.   Their presence was felt last year when a battle over the liquor business triggered a hiring spree of top-notch lobbyists at the Legislature.

15.   Vivendi, a French conglomerate, is building its entertainment and communications operations, but plans to sell the liquor business.

16.   In the post-Soviet period, many liquor businesses are trying to stay one step ahead of the tax inspector.

17.   Now, the liquor business, built up over three generations, is to be sold off.

18.   The Phatraprasit family has its roots in agricultural trading and the liquor business in Thailand.