The prize for most obnoxious party at Davos was won on the first night, with the Davos Tasting put on by the Wine Forum.

Wine tasting was historically one of the more interesting and enjoyable events that was put on at Davos, but it got nixed in 2009 when conspicuous consumption of first-growth clarets was considered inappropriate in the face of the global financial crisis. The consequence was much the same as attempts to cap CEO salaries: just as the executives end up making much more money through stock options, the wine tasters, freed from whatever decorum was imposed upon them by the official constraints of the World Economic Forum, showed just how out-of-control wine events can really be.

The plutocrats at Davos, of course, both western and eastern, are exactly the kind of people who spend thousands of dollars a bottle on fine wines. But they're also driven and single-minded executives who naturally gravitate to the obvious and middlebrow in other areas: if they're buying art, they'll plump for something shiny by Damien Murakoons (both Hirst and Koons are in Davos this week), while the big-name creative types here are the likes of Jose Carreras, Peter Gabriel, and Paulo Coelho.

Wine here, then, is judged with executives' eyes rather than their noses. They look at the label first and then at two crucial numbers: the number of points it gets from Robert Parker or Wine Spectator and the cost in dollars. Take that to its logical conclusion and you wind up with exactly what we saw on Wednesday night:

This evening's wine selection consists of wines that have achieved 100 points or equivalent from one of three well known raters.