from Hotel News Now newswire (12/8):
British travelers cash in as Dubai rates plummet
08 December 2009 7:36 AM
HNN Newswire
"British travellers are making the most of cut price hotel rooms in Dubai according to new figures from Hotels.com.
Searches for hotels in Dubai have risen by 570% since Dubai World's announcement sparked a financial crisis in the Emirate, it is revealed.
In the first half of 2009, the average price of a five star hotel room in the city was £174 per night.* However, for January 2010 a five star hotel room will cost on average just £144 a night, a drop of 17% and adding up to a saving of £210 for a week-long stay." ...
for the complete story
Tuesday, December 8, 2009
Canadian Museum of Human Rights progress
from the Toronto Star (12/7):
Museum action concentrated in Manitoba capital
December 07, 2009
Martin Knelman
"A recent visit to Washington reminded me of the stupendous array of national museums the United States has assembled in its capital. By comparison with many countries, including Britain, France, Italy, Spain and even China, Canada's showing in the field of museum-building has been modest, to put it mildly.
In fact we have not created a new national museum since 1967. And hopes have been dashed that we are going to have our long overdue National Portrait Gallery any time soon.
That's one reason that a strong buzz of engagement is building across this country over the Canadian Museum of Human Rights – even in Toronto." ...
for the complete story
Museum action concentrated in Manitoba capital
December 07, 2009
Martin Knelman
"A recent visit to Washington reminded me of the stupendous array of national museums the United States has assembled in its capital. By comparison with many countries, including Britain, France, Italy, Spain and even China, Canada's showing in the field of museum-building has been modest, to put it mildly.
In fact we have not created a new national museum since 1967. And hopes have been dashed that we are going to have our long overdue National Portrait Gallery any time soon.
That's one reason that a strong buzz of engagement is building across this country over the Canadian Museum of Human Rights – even in Toronto." ...
for the complete story
Canadian housing starts rising
from RBC Economics Research -- Daily Economic Upcate (12/8)
Canadian housing starts maintain uptrend
"Canadian housing starts continued to rise in November, but by a smaller-than-expected 0.7% to an annualized 158,500 units. Expectations had been for starts to rise to 160,000. However, the increase does extend a general upward trend in this indicator from a recent trough in April of 118,500 as builders respond to falling inventories of unsold homes and consumers take advantage of low mortgage rates." ...
for the complete story
Canadian housing starts maintain uptrend
"Canadian housing starts continued to rise in November, but by a smaller-than-expected 0.7% to an annualized 158,500 units. Expectations had been for starts to rise to 160,000. However, the increase does extend a general upward trend in this indicator from a recent trough in April of 118,500 as builders respond to falling inventories of unsold homes and consumers take advantage of low mortgage rates." ...
for the complete story
Thursday, December 3, 2009
Hotel project decline in Europe, Middle East, and Africa
from Hotels news service (12/3):
EMEA Pipeline Off 21% Since Peak
Hotels, 12/3/2009 8:51:00 AM
"The total EMEA Pipeline continued its decline in Q3 2009, down to 1,396 projects/305,170 rooms. Project counts have fallen 21% from the Q2 2008 peak, and room counts by 18%." ...
for the complete story
EMEA Pipeline Off 21% Since Peak
Hotels, 12/3/2009 8:51:00 AM
"The total EMEA Pipeline continued its decline in Q3 2009, down to 1,396 projects/305,170 rooms. Project counts have fallen 21% from the Q2 2008 peak, and room counts by 18%." ...
for the complete story
Multifaily sector improving
from BNi Building News 12/3:
Multifamily Construction Activity Shows Improvement in Third Quarter
"Like other sectors of the housing market, the multifamily sector showed signs of improvement in the third quarter of 2009, according to data released today by the National Association of Home Builders (NAHB), in its Multifamily Market Index." ...
for the complete story
Multifamily Construction Activity Shows Improvement in Third Quarter
"Like other sectors of the housing market, the multifamily sector showed signs of improvement in the third quarter of 2009, according to data released today by the National Association of Home Builders (NAHB), in its Multifamily Market Index." ...
for the complete story
Tuesday, November 24, 2009
Thanksgiving humor
Honest to pete article from La Revue de Medecine Interne found while researching theme park accidents:
"Le Syndrome de Mickey"
"Le Syndrome de Mickey"
Monday, November 23, 2009
PWC ULI Emerging Trends in Real Estate 2010 is in !!!!!!
Don't all scream at once.
Photo forthcoming....
Photo forthcoming....
Friday, November 13, 2009
Texas dominates Milken's Best-performing Cities 2009
Milken has released the 2009 Best-performing Cities report. Possibly you can hear Texas crowing.
Texas MSAs took 9 of the top 25 spots, and only Salt Lake City kept Texas from sweeping the top 5 spots. Climbing from #4 in 2008 to #1 this year with Austin-Round Rock.
Special kudos go to Corpus Christi who went from 88th place on the Milken list in 2008 to 16th place this year.
For more info o nthe report, contact Ruth.
Texas MSAs took 9 of the top 25 spots, and only Salt Lake City kept Texas from sweeping the top 5 spots. Climbing from #4 in 2008 to #1 this year with Austin-Round Rock.
Special kudos go to Corpus Christi who went from 88th place on the Milken list in 2008 to 16th place this year.
For more info o nthe report, contact Ruth.
Friday, October 30, 2009
Euromonitor on Staycations
From Euromonitor International (10/23):
North American staycationers
Author: Countries and Consumers
Date published: 23 Oct 2009
"The USA is the home of the “staycation,” a word that emerged mid-decade and exploded into popular use in 2007. Its appearance in the 2009 edition of the Merriam-Webster dictionary shows it's a trend with staying power and, according to the publisher, it's an example of a word meeting a need and establishing itself in the language very quickly. But its meaning has already started to morph to mean anything from holidaying at home, or nearby, to vacationing in-country rather than abroad." ....
to read more of the brief
North American staycationers
Author: Countries and Consumers
Date published: 23 Oct 2009
"The USA is the home of the “staycation,” a word that emerged mid-decade and exploded into popular use in 2007. Its appearance in the 2009 edition of the Merriam-Webster dictionary shows it's a trend with staying power and, according to the publisher, it's an example of a word meeting a need and establishing itself in the language very quickly. But its meaning has already started to morph to mean anything from holidaying at home, or nearby, to vacationing in-country rather than abroad." ....
to read more of the brief
Tuesday, September 29, 2009
U.S. NPS reports year-to-date usage increase
from today's NSGA Research Newsletter (9/29):
NPS Visits Up Year-to-Date
"In spite of a slight decline in September, the National Park System (NPS) reported year-to-date recreation visits had increased 3.4% January-September 2009." ....
for more info, contact Ruth
NPS Visits Up Year-to-Date
"In spite of a slight decline in September, the National Park System (NPS) reported year-to-date recreation visits had increased 3.4% January-September 2009." ....
for more info, contact Ruth
Outdoor sports and activities participation
from today's NSGA Research Newsletter (9/29):
Growth in Nature Based Outdoor Activities and Continued Declines in Youth Outdoor Participation
"In 2008, American participation in outdoor recreation was marked by encouraging growth in important segments of core outdoor activities as well as continuing, though less dramatic, declines in youth participation, according to a new report, the 2009 Outdoor Recreation Participation Report..."
For the report, contact Ruth.
Growth in Nature Based Outdoor Activities and Continued Declines in Youth Outdoor Participation
"In 2008, American participation in outdoor recreation was marked by encouraging growth in important segments of core outdoor activities as well as continuing, though less dramatic, declines in youth participation, according to a new report, the 2009 Outdoor Recreation Participation Report..."
For the report, contact Ruth.
San Diego apartment market improving
from today's San Diego Business Journal (9/29):
9/28/2009
Apartment Market Cruises at Top of Commercial Space
REAL ESTATE: Increasing Office, Industrial Vacancies Attributed to Downsizing
"While the office and industrial markets both saw increases in vacancies, one commercial real estate sector, apartments, showed improvement, according to MarketPointe Realty Advisors.
The vacancy rate for multifamily buildings averaged 4.4 percent in September, down from 5.3 percent in March, MarketPointe reported. The company releases biannual reports in September and March." ...
for the complete story
9/28/2009
Apartment Market Cruises at Top of Commercial Space
REAL ESTATE: Increasing Office, Industrial Vacancies Attributed to Downsizing
"While the office and industrial markets both saw increases in vacancies, one commercial real estate sector, apartments, showed improvement, according to MarketPointe Realty Advisors.
The vacancy rate for multifamily buildings averaged 4.4 percent in September, down from 5.3 percent in March, MarketPointe reported. The company releases biannual reports in September and March." ...
for the complete story
Las Vegas convention delays cause convention losses
from today's Tradeshow Week (9/29):
BIO Intl. Changes Places in 2012
-- Tradeshow Week, 9/29/2009 11:33:00 AM
"The Biotechnology Industry Organization has announced BIO Intl. will take place in Boston in 2012, rather than in Las Vegas as originally planned. According to BIO officials, the biotech show was counting on meeting space that would have been completed at the Las Vegas Convention Center by then." ....
for the complete story
BIO Intl. Changes Places in 2012
-- Tradeshow Week, 9/29/2009 11:33:00 AM
"The Biotechnology Industry Organization has announced BIO Intl. will take place in Boston in 2012, rather than in Las Vegas as originally planned. According to BIO officials, the biotech show was counting on meeting space that would have been completed at the Las Vegas Convention Center by then." ....
for the complete story
Friday, September 25, 2009
Sacramento Railyards project
from today's Sacramento Bee (9/25)
Sacramento railyard is 'shining light' for struggling developer Thomas
by Tony Bizjak and Dale Kasler
Published: Friday, Sep. 25, 2009 - 12:00 am | Page 1B
"Georgia developer Stan Thomas was billed as the man who would revive Sacramento's dormant downtown railyard.
It turns out the railyard may help revive Thomas instead.
The massive redevelopment is his company's "shining light," Thomas said this week, in a humbling year marked by recession, lawsuits, layoffs and stalled projects. "We're excited to have a project that is active and doing something vs. the projects that we've had to put on hold and wait until the world turns."
Until recently, his prospects in Sacramento seemed dim, too." ...
for the complete story
Sacramento railyard is 'shining light' for struggling developer Thomas
by Tony Bizjak and Dale Kasler
Published: Friday, Sep. 25, 2009 - 12:00 am | Page 1B
"Georgia developer Stan Thomas was billed as the man who would revive Sacramento's dormant downtown railyard.
It turns out the railyard may help revive Thomas instead.
The massive redevelopment is his company's "shining light," Thomas said this week, in a humbling year marked by recession, lawsuits, layoffs and stalled projects. "We're excited to have a project that is active and doing something vs. the projects that we've had to put on hold and wait until the world turns."
Until recently, his prospects in Sacramento seemed dim, too." ...
for the complete story
San Diego economic index rising for 5th month
from today's San Diego Business Journal (9/25):
Local Economy Yields Positive Trends
By MIKE ALLEN - 9/24/2009
"San Diego’s economy is trending positive, registering a fifth consecutive rise in a monthly economic index compiled by the Burnham-Moores Center for Real Estate at the University of San Diego.
For August the index rose 0.6 percent, the largest monthly rise since March 2004, propelled by a sharp increase in local consumer confidence, according to a report released Sept. 24." ...
for the complete story
Local Economy Yields Positive Trends
By MIKE ALLEN - 9/24/2009
"San Diego’s economy is trending positive, registering a fifth consecutive rise in a monthly economic index compiled by the Burnham-Moores Center for Real Estate at the University of San Diego.
For August the index rose 0.6 percent, the largest monthly rise since March 2004, propelled by a sharp increase in local consumer confidence, according to a report released Sept. 24." ...
for the complete story
Macau gaming on the rise again
from the Las Vegas Review-Journal (9/24)
Macau Heats Up
Two Las Vegas companies plan IPOs, analyst sees better times ahead
By HOWARD STUTZ
LAS VEGAS REVIEW-JOURNAL
"Macau has once again become the gaming industry's hot ticket.
With two casino operators planning initial public offerings on the Hong Kong Stock Exchange and economic signs becoming positive, JP Morgan gaming analyst Joe Greff said Macau could be the catalyst for a prolonged upswing in the share prices of Las Vegas Sands Corp. and MGM Mirage." ....
for the complete story
Macau Heats Up
Two Las Vegas companies plan IPOs, analyst sees better times ahead
By HOWARD STUTZ
LAS VEGAS REVIEW-JOURNAL
"Macau has once again become the gaming industry's hot ticket.
With two casino operators planning initial public offerings on the Hong Kong Stock Exchange and economic signs becoming positive, JP Morgan gaming analyst Joe Greff said Macau could be the catalyst for a prolonged upswing in the share prices of Las Vegas Sands Corp. and MGM Mirage." ....
for the complete story
Wednesday, September 23, 2009
The 30s
Hi from the ERA-L.A. 30-ish Year Club
That's Ray, Steve, Suzin, Austin, and Gene celebrating Suzin's 30th anniversary with ERA.
P.S. Suzin would like you to keep in mind she started working here when she was 8.
That's Ray, Steve, Suzin, Austin, and Gene celebrating Suzin's 30th anniversary with ERA.
P.S. Suzin would like you to keep in mind she started working here when she was 8.
Saturday, September 19, 2009
Thursday, July 16, 2009
Liberia's new luxury resort
from USA Today 7/15/2009
Americans lend a hand to new Liberia
By Christina Holder, Special for USA TODAY
"MONROVIA, Liberia — After 14 years of civil war, Liberia was known for its blighted buildings, bullet-sprayed roads and child soldiers who wear wigs to dress up for battle.
Since a peace accord was signed nearly six years ago, American investors such as Black Entertainment Television founder Robert Johnson have started trying to help change the ruinous image of this small nation that has historic ties to the United States." ...
"...he opened a four-star, $8 million resort last month on the outskirts of the capital of Monrovia, saying he wanted to help awaken business." ...
for the complete story
Americans lend a hand to new Liberia
By Christina Holder, Special for USA TODAY
"MONROVIA, Liberia — After 14 years of civil war, Liberia was known for its blighted buildings, bullet-sprayed roads and child soldiers who wear wigs to dress up for battle.
Since a peace accord was signed nearly six years ago, American investors such as Black Entertainment Television founder Robert Johnson have started trying to help change the ruinous image of this small nation that has historic ties to the United States." ...
"...he opened a four-star, $8 million resort last month on the outskirts of the capital of Monrovia, saying he wanted to help awaken business." ...
for the complete story
Osaka to get Paramount Park
from today's HNN (7/16/2009)
Investment firm unveils Paramount Resort Osaka plan
Japan Economic Newswire, July 16, 2009 Thursday 6:52 AM GMT
"An Osaka-based investment firm said Thursday it will cooperate with an affiliate of U.S. movie company Paramount Pictures Corp. to develop a theme park named Paramount Resort Osaka in Suita, Osaka Prefecture." ...
for the complete story
Investment firm unveils Paramount Resort Osaka plan
Japan Economic Newswire, July 16, 2009 Thursday 6:52 AM GMT
"An Osaka-based investment firm said Thursday it will cooperate with an affiliate of U.S. movie company Paramount Pictures Corp. to develop a theme park named Paramount Resort Osaka in Suita, Osaka Prefecture." ...
for the complete story
Monday, June 8, 2009
MGM Mirage moving to Taiwan for casino development
from today's Hotel Newswire (6/8):
MGM Mirage in talks to develop a casino in TaiwanChina Knowledge Newswire, June 8, 2009 Monday
"MGM Mirage, the second-largest casino operator in the world, is in negations with three investor groups to develop a casino in Taiwan to enhance its presence in the fast-growing Asian market, said Lloyd Nathan, president of the company's global gaming development..."
for the complete story
MGM Mirage in talks to develop a casino in TaiwanChina Knowledge Newswire, June 8, 2009 Monday
"MGM Mirage, the second-largest casino operator in the world, is in negations with three investor groups to develop a casino in Taiwan to enhance its presence in the fast-growing Asian market, said Lloyd Nathan, president of the company's global gaming development..."
for the complete story
Sunday, June 7, 2009
Wednesday, June 3, 2009
Sacramento Railyards project abandoning depot
from today's Sacramento Bee (6/3):
Sacramento's historic train depot not moving
Published Wednesday, Jun. 03, 2009
"The historic I Street train depot is staying put.
After staff testified the city could lose hundreds of millions of dollars in federal support if the building is moved, the Sacramento City Council on Tuesday night decided not to jack the mammoth structure up and roll it 300 feet north in the railyards." ...
for the complete story
Sacramento's historic train depot not moving
Published Wednesday, Jun. 03, 2009
"The historic I Street train depot is staying put.
After staff testified the city could lose hundreds of millions of dollars in federal support if the building is moved, the Sacramento City Council on Tuesday night decided not to jack the mammoth structure up and roll it 300 feet north in the railyards." ...
for the complete story
Tuesday, May 26, 2009
Macao statistics
Macao has just released several million forms of visitor statistics in Excel for April 2009. Ok, so maybe it's several dozen, but let's just say it's a lot, shall we?
For the excel tables, contact Ruth.
For the excel tables, contact Ruth.
Ski areas see revenue increase
from today's National Sporting Goods Assn newsletter (5/26):
Ski Areas Report Increased Revenues for the 2007/08 Season
"With increased revenues in all major sales areas, the U.S. ski area financial results for the 2007/08 season improved over a strong 2006/07 season. According to the 2007/08 Economic Analysis of U.S. Ski Areas produced for the National Ski Areas Association (NSAA), overall average resort revenue grew 11.4% to $26.0 million per resort.
Life tickets remain the primary driver of ski area revenue. The average resort reported life ticket sales of $12.1 million in revenue in 2007/08, up 11.3% nationally. The average proportion of total revenue derived from lift ticket sales was 46.5% industry-wide, flat from the previous year."...
for complete news, contact Ruth
Ski Areas Report Increased Revenues for the 2007/08 Season
"With increased revenues in all major sales areas, the U.S. ski area financial results for the 2007/08 season improved over a strong 2006/07 season. According to the 2007/08 Economic Analysis of U.S. Ski Areas produced for the National Ski Areas Association (NSAA), overall average resort revenue grew 11.4% to $26.0 million per resort.
Life tickets remain the primary driver of ski area revenue. The average resort reported life ticket sales of $12.1 million in revenue in 2007/08, up 11.3% nationally. The average proportion of total revenue derived from lift ticket sales was 46.5% industry-wide, flat from the previous year."...
for complete news, contact Ruth
Hotels hosting concerts
from today's Atlanta Journal Constitution (5/26):
Hotels to host concerts, with guests the goal
By Leon Stafford
The Atlanta Journal-Constitution
Tuesday, May 26, 2009
"Sometimes everything old is new again in the hotel business.
Hotels, which were the social gathering places in decades past with big dances and glitzy, Hollywood-style receptions, are attempting to resurrect those good times by bringing in music acts — some known, others on the cusp of stardom — to draw big crowds." ...
"The W Hotel Midtown, the Four Seasons Atlanta, Hotel Palomar and other lodgers have gotten into the game as metro Atlantans begin to look for entertainment options this summer. The concerts are usually free or have a nominal fee." ...
for the complete story
Hotels to host concerts, with guests the goal
By Leon Stafford
The Atlanta Journal-Constitution
Tuesday, May 26, 2009
"Sometimes everything old is new again in the hotel business.
Hotels, which were the social gathering places in decades past with big dances and glitzy, Hollywood-style receptions, are attempting to resurrect those good times by bringing in music acts — some known, others on the cusp of stardom — to draw big crowds." ...
"The W Hotel Midtown, the Four Seasons Atlanta, Hotel Palomar and other lodgers have gotten into the game as metro Atlantans begin to look for entertainment options this summer. The concerts are usually free or have a nominal fee." ...
for the complete story
Middle East needs hotels
from Gulf News (5/25):
Hotel occupancy to bounce back
05/25/2009 06:24 PM | By Nadia Saleem, Staff Reporter
"Dubai: Though the Gulf region is seeing a total of 306 new hotels under construction at a value of over $140 billion (Dh514 billion), more will be needed by 2013 to satisfy the expected demand, a study says.
Proleads, a research house for the leisure industry yesterday revealed a report at The Hotel Show, a hospitality services trade show that stated occupancy rates will return to previous levels by 2010, followed by significant growth by 2013." ...
for the complete story
For information on the Proleads report and how to order it
Hotel occupancy to bounce back
05/25/2009 06:24 PM | By Nadia Saleem, Staff Reporter
"Dubai: Though the Gulf region is seeing a total of 306 new hotels under construction at a value of over $140 billion (Dh514 billion), more will be needed by 2013 to satisfy the expected demand, a study says.
Proleads, a research house for the leisure industry yesterday revealed a report at The Hotel Show, a hospitality services trade show that stated occupancy rates will return to previous levels by 2010, followed by significant growth by 2013." ...
for the complete story
For information on the Proleads report and how to order it
San Diego military contracts boom
from today's San Diego Business Journal (5/26):
Military Readies Building Offensive
By BRAD GRAVES - 5/25/2009
"Just as a weaver twists multiple strands of nylon together to make a rope, the U.S. government has twisted several military construction initiatives together to form something with a good deal of economic pull.
February’s economic stimulus package contains 80 military construction projects — many of them local — worth $1 billion. “We have a very aggressive timetable to get this stuff awarded,” said Capt. Steve Wirsching." ...
"The Navy captain said this month that he hopes to put 62 projects in the hands of builders by Sept. 30 — the end of the federal fiscal year." ...
"The command is on track to award $1.7 billion worth of work in the 2009 fiscal year. In 2010, Wirsching said his command may award $3.1 billion worth of contracts — a far cry from the $350 million to $500 million in contracts it would award in a slower year." ...
for the complete story
Military Readies Building Offensive
By BRAD GRAVES - 5/25/2009
"Just as a weaver twists multiple strands of nylon together to make a rope, the U.S. government has twisted several military construction initiatives together to form something with a good deal of economic pull.
February’s economic stimulus package contains 80 military construction projects — many of them local — worth $1 billion. “We have a very aggressive timetable to get this stuff awarded,” said Capt. Steve Wirsching." ...
"The Navy captain said this month that he hopes to put 62 projects in the hands of builders by Sept. 30 — the end of the federal fiscal year." ...
"The command is on track to award $1.7 billion worth of work in the 2009 fiscal year. In 2010, Wirsching said his command may award $3.1 billion worth of contracts — a far cry from the $350 million to $500 million in contracts it would award in a slower year." ...
for the complete story
Thursday, May 21, 2009
NY museums struggling
From the Democrat and Chronicle (NY) (5/5):
Area museums struggle to balance budgets as attendance rises
Stuart Low
"Museums enjoy the reputation of timeless temples of art. But throughout western New York, hard times are eroding these venerable institutions' most precious assets: their budgets.
The long recession has brought layoffs, salary cuts and hiring freezes to Monroe County museums. In Buffalo, the influential Albright-Knox Art Gallery saw a 24-percent drop in revenues from July 1, 2008 to April 24, 2009. It will close for the week of May 18 to 24." ...
for the complete story
Area museums struggle to balance budgets as attendance rises
Stuart Low
"Museums enjoy the reputation of timeless temples of art. But throughout western New York, hard times are eroding these venerable institutions' most precious assets: their budgets.
The long recession has brought layoffs, salary cuts and hiring freezes to Monroe County museums. In Buffalo, the influential Albright-Knox Art Gallery saw a 24-percent drop in revenues from July 1, 2008 to April 24, 2009. It will close for the week of May 18 to 24." ...
for the complete story
Indy 500 frugality hitting local hotels
from the Indianapolis Star (5/21):
Some hotels struggle to fill up for Indy 500 weekend
Higher-end hotels struggle to fill up for the city's biggest tourism event
By Melissa Tussing
"Call it the frugal fan 500.
Ticket sales for Sunday's Indianapolis 500 are holding steady, but race fans and sponsors appear to be cutting corners this year, opting for cheaper choices that could put a pinch not only on local hotels but on the economic impact of the city's most significant tourism event." ...
for the complete story
Some hotels struggle to fill up for Indy 500 weekend
Higher-end hotels struggle to fill up for the city's biggest tourism event
By Melissa Tussing
"Call it the frugal fan 500.
Ticket sales for Sunday's Indianapolis 500 are holding steady, but race fans and sponsors appear to be cutting corners this year, opting for cheaper choices that could put a pinch not only on local hotels but on the economic impact of the city's most significant tourism event." ...
for the complete story
Canadian Human Rights Museum budget shortfall
from CBC News (5/20):
Human Rights Museum dealing with $5.2M operating shortfall
Last Updated: Wednesday, May 20, 2009 | 2:54 PM CT
CBC News
"The Canadian Museum for Human Rights, not set to open until 2012, is already running a deficit.
The latest corporate report for the museum, currently under construction in Winnipeg, indicates a $5.2-million shortfall in its operating budget." ...
for the complete story
Human Rights Museum dealing with $5.2M operating shortfall
Last Updated: Wednesday, May 20, 2009 | 2:54 PM CT
CBC News
"The Canadian Museum for Human Rights, not set to open until 2012, is already running a deficit.
The latest corporate report for the museum, currently under construction in Winnipeg, indicates a $5.2-million shortfall in its operating budget." ...
for the complete story
Thursday, May 14, 2009
CA too taxing on golf?
from this morning's San Diego Business Journal (5/13):
State Shouldn’t Tax Golf Games, Association Warns
By Mike Allen - 5/13/2009
San Diego Business Journal Staff
Time to yell fore!
"May 13 was National Golf Day, according to a release from an organization called the California Alliance for Golf." ...
"... the industry is responsible for creating 160,000 jobs in the state, either directly or through the hospitality, retail and landscape industries, CAG says.
Also, golf put $6.9 billion into the state’s economy in 2006, mainly through tourism, property taxes, income taxes and taxes on golf merchandise.
CAG thinks the sport and industry have been sufficiently taxed, and wants to squash an effort in Sacramento to impose a sales tax for playing at golf courses." ...
for the complete story
State Shouldn’t Tax Golf Games, Association Warns
By Mike Allen - 5/13/2009
San Diego Business Journal Staff
Time to yell fore!
"May 13 was National Golf Day, according to a release from an organization called the California Alliance for Golf." ...
"... the industry is responsible for creating 160,000 jobs in the state, either directly or through the hospitality, retail and landscape industries, CAG says.
Also, golf put $6.9 billion into the state’s economy in 2006, mainly through tourism, property taxes, income taxes and taxes on golf merchandise.
CAG thinks the sport and industry have been sufficiently taxed, and wants to squash an effort in Sacramento to impose a sales tax for playing at golf courses." ...
for the complete story
Tuesday, May 5, 2009
Nonprofits and the economy
We have the new report out from Guidestar on the impact of the economy on nonprofits. Photo forthcoming.
Live Nation sells three properties
from today's Los Angeles Business Journal (5/5):
Posted date: 5/5/2009
Live Nation to Sell Three Theaters
By DEBORAH CROWE
Los Angeles Business Journal Staff
"Concert promoter Live Nation Inc. said Tuesday it plans to pay down debt by selling three well-known Boston theaters, including the Boston Opera House, for about $22.5 million.
Live Nation, which hopes to merge with competitor Ticketmaster later this year, said it would take a non-cash impairment charge of about $7.7 million in the first quarter to account for the difference between the sales price and the carrying value on the company's balance sheet." ...
for the complete story
Posted date: 5/5/2009
Live Nation to Sell Three Theaters
By DEBORAH CROWE
Los Angeles Business Journal Staff
"Concert promoter Live Nation Inc. said Tuesday it plans to pay down debt by selling three well-known Boston theaters, including the Boston Opera House, for about $22.5 million.
Live Nation, which hopes to merge with competitor Ticketmaster later this year, said it would take a non-cash impairment charge of about $7.7 million in the first quarter to account for the difference between the sales price and the carrying value on the company's balance sheet." ...
for the complete story
U.S. manufacturing and employment up
from the Royal Bank of Canada Daily Economic Update enews (5/5):
"U.S. ISM non-manufacturing stays above 40 for the fifth consecutive month
The ISM manufacturing index followed the manufacturing index’s trend upward, rising to 43.7, putting it at its highest level since October of last year. At 47, the new orders component forged its strongest print since the intensification of the credit crisis in September 2008. Employment posted more muted gains, increasing to 37 from the prior month’s 32.3." ...
for
U.S. supporting data
for Canadian data
"U.S. ISM non-manufacturing stays above 40 for the fifth consecutive month
The ISM manufacturing index followed the manufacturing index’s trend upward, rising to 43.7, putting it at its highest level since October of last year. At 47, the new orders component forged its strongest print since the intensification of the credit crisis in September 2008. Employment posted more muted gains, increasing to 37 from the prior month’s 32.3." ...
for
U.S. supporting data
for Canadian data
Thursday, April 30, 2009
New item -- Meetings Market Report
We are now the proud owners of the latest Meetings Market Report:
CA Redevelopment Agencies win battle to keep state funds
from the California Redevelopment Association Executive Director's Update
April 30, 2009
CRA Prevails in Court Case - Redevelopment Agencies Keep $350 Million!
"Sacramento Superior Court Judge Lloyd Connelly this morning ruled in CRA's favor and found unconstitutional a provision in the current state budget, which would have required redevelopment agencies statewide to transfer $350 million to be used to fund State obligations. The Court held that petitioners are entitled to declaratory and injunctive relief invalidating and enjoining Health and Safety Code Section 33685 - the section which created the ERAF payment obligation for redevelopment agencies for fiscal year 2008-09....."
see the CRA homepage for more info on the suit
April 30, 2009
CRA Prevails in Court Case - Redevelopment Agencies Keep $350 Million!
"Sacramento Superior Court Judge Lloyd Connelly this morning ruled in CRA's favor and found unconstitutional a provision in the current state budget, which would have required redevelopment agencies statewide to transfer $350 million to be used to fund State obligations. The Court held that petitioners are entitled to declaratory and injunctive relief invalidating and enjoining Health and Safety Code Section 33685 - the section which created the ERAF payment obligation for redevelopment agencies for fiscal year 2008-09....."
see the CRA homepage for more info on the suit
Thursday, April 23, 2009
Shanghai Expo 2010 China pavilion donation
from the Shanghai 2010 newsfeed (4/23):
Major donation boosts China pavilion
Date:23/04/2009
"The China Pavilion yesterday received its largest ever donation - 100 million yuan (US$14.6 miilion) - from Cheung Kong (Holdings) Ltd and Hutchison Whampoa Ltd, both headed by Hong Kong billionaire Li Ka-shing." ...
for the complete story
Major donation boosts China pavilion
Date:23/04/2009
"The China Pavilion yesterday received its largest ever donation - 100 million yuan (US$14.6 miilion) - from Cheung Kong (Holdings) Ltd and Hutchison Whampoa Ltd, both headed by Hong Kong billionaire Li Ka-shing." ...
for the complete story
Friday, April 17, 2009
Wednesday, April 15, 2009
IL opens state Holocaust Museum
For the list of events and offerings at the Illinois Holocause Museum which has its grand opening this weekend.
Tuesday, March 31, 2009
IN county parks in development (trails) despite economy
from the Reporter-Times (Martinsville and Morgan County, IN) (3/29):
Economy won’t keep parks board from projects
Board’s goal is to finish trail at Burkhart Creek County Park this year
By Amy Hillenburg ahillenb@reporter-times.com
March 29, 2009
"MORGAN COUNTY — Although the Morgan County Parks and Recreation Board might have to scale back on some of its countywide trail plans, the recession hasn’t scared it away from those projects.
Board Secretary Trena Trusty said the board plans to finish the trail at Burkhart Creek County Park this year with funds from a $50,000 Kendrick Foundation grant. The park is north of Paragon, bounded by Warthen and Duckworth roads off Ind. 67. It encompasses 83 acres from the state that took the board four years to transfer. Members didn’t count on the process taking so long, but now they are ready to go on to the trails component of the county comprehensive plan. The much-discussed countywide trail is not on the forefront, but Trusty said it is still being considered." ...
for the complete story
Economy won’t keep parks board from projects
Board’s goal is to finish trail at Burkhart Creek County Park this year
By Amy Hillenburg ahillenb@reporter-times.com
March 29, 2009
"MORGAN COUNTY — Although the Morgan County Parks and Recreation Board might have to scale back on some of its countywide trail plans, the recession hasn’t scared it away from those projects.
Board Secretary Trena Trusty said the board plans to finish the trail at Burkhart Creek County Park this year with funds from a $50,000 Kendrick Foundation grant. The park is north of Paragon, bounded by Warthen and Duckworth roads off Ind. 67. It encompasses 83 acres from the state that took the board four years to transfer. Members didn’t count on the process taking so long, but now they are ready to go on to the trails component of the county comprehensive plan. The much-discussed countywide trail is not on the forefront, but Trusty said it is still being considered." ...
for the complete story
New York State parks economic impact report released
from Parks and Trails NY (3/16):
ANNUAL ECONOMIC IMPACT OF NYS PARK SYSTEM
CLOSE TO $2 BILLION, PLUS 20,000 JOBS, NEW STUDY FINDS
—Analysis reveals Park System gives back more than five times state investment—
ALBANY, NY—A new economic analysis released by Parks & Trails New York, the leading statewide park and trail advocacy organization, shows that the New York State Park System is a valuable economic asset to the Empire State. It supports up to $1.94 billion in output and sales for private businesses, plus 20,000 jobs." ...
for the complete press release
for the complete report, contact Ruth
ANNUAL ECONOMIC IMPACT OF NYS PARK SYSTEM
CLOSE TO $2 BILLION, PLUS 20,000 JOBS, NEW STUDY FINDS
—Analysis reveals Park System gives back more than five times state investment—
ALBANY, NY—A new economic analysis released by Parks & Trails New York, the leading statewide park and trail advocacy organization, shows that the New York State Park System is a valuable economic asset to the Empire State. It supports up to $1.94 billion in output and sales for private businesses, plus 20,000 jobs." ...
for the complete press release
for the complete report, contact Ruth
AR for-profit casino initiative makes it the the ballot
from Arkansas Business (3/31):
Amendment Would Write For-profit Casino Company into State Constitution
By Arkansas Business Staff
3/31/2009 10:09:01 AM
"An amendment whose ballot title was approved Tuesday by the state Attorney General's office would write a for-profit casino company into the Arkansas Constitution." ...
for the complete story
Amendment Would Write For-profit Casino Company into State Constitution
By Arkansas Business Staff
3/31/2009 10:09:01 AM
"An amendment whose ballot title was approved Tuesday by the state Attorney General's office would write a for-profit casino company into the Arkansas Constitution." ...
for the complete story
San Diego's Lindbergh Field lands major contract approvals
from the San Diego Business Journal (3/30):
Lindbergh Field Expected To Award 2 Big Contracts
By MIKE ALLEN
San Diego Business Journal Staff
"Now that airport officials have a configuration for the future of Lindbergh Field, they can turn their attention to a long-delayed series of improvements estimated to cost $876 million — up 25 percent from $700 million in 2008 and 35 percent from 2007." ...
"It’s the single biggest project at Lindbergh ever, nearly four times the $224 million spent in the mid-1990s on a variety of projects, including the addition of nine gates to Terminal 2." ...
for the complete story
Lindbergh Field Expected To Award 2 Big Contracts
By MIKE ALLEN
San Diego Business Journal Staff
"Now that airport officials have a configuration for the future of Lindbergh Field, they can turn their attention to a long-delayed series of improvements estimated to cost $876 million — up 25 percent from $700 million in 2008 and 35 percent from 2007." ...
"It’s the single biggest project at Lindbergh ever, nearly four times the $224 million spent in the mid-1990s on a variety of projects, including the addition of nine gates to Terminal 2." ...
for the complete story
Canadian photography museum hopes quashed
from the National Post (Toronto) (3/27):
No photos please
Randy Boswell , Canwest News Service
"The 30-year dream of creating a stand-alone national museum of photography in Canada's capital - frustratingly elusive through the 1980s, joyously realized in 1992, then "temporarily" interrupted by a leaky roof in 2006 - has been quietly and permanently dashed, Canwest News Service has learned.
Earlier this month, in a board room at the National Gallery of Canada, trustees of the federally governed institution formally decided to stop seeking a separate home for its dispossessed junior affiliate: the Canadian Museum of Contemporary Photography.
The museum and its 200,000-item collection had been relocated to the National Gallery three years ago after water began seeping into the unique, underground facility near Parliament Hill that had served as the CMCP's headquarters and exhibition space for 14 years." ...
for the complete story
No photos please
Randy Boswell , Canwest News Service
"The 30-year dream of creating a stand-alone national museum of photography in Canada's capital - frustratingly elusive through the 1980s, joyously realized in 1992, then "temporarily" interrupted by a leaky roof in 2006 - has been quietly and permanently dashed, Canwest News Service has learned.
Earlier this month, in a board room at the National Gallery of Canada, trustees of the federally governed institution formally decided to stop seeking a separate home for its dispossessed junior affiliate: the Canadian Museum of Contemporary Photography.
The museum and its 200,000-item collection had been relocated to the National Gallery three years ago after water began seeping into the unique, underground facility near Parliament Hill that had served as the CMCP's headquarters and exhibition space for 14 years." ...
for the complete story
Arsenal basketball team leaving Anaheim for Springfield, MA
from the Orange County Business Journal (3/31):
Arsenal Basketball Team Leaving Anaheim
By Michael Lyster
Orange County Business Journal Staff
"The Anaheim Arsenal, an NBA Developement League basketball team that’s played at the Anaheim Convention Center since 2006, is moving to Massachusetts later this year.
The team is set to move to Springfield, Mass., home of the Basketball Hall of Fame, at the start of the 2009-10 season in November." ...
for the complete story
Arsenal Basketball Team Leaving Anaheim
By Michael Lyster
Orange County Business Journal Staff
"The Anaheim Arsenal, an NBA Developement League basketball team that’s played at the Anaheim Convention Center since 2006, is moving to Massachusetts later this year.
The team is set to move to Springfield, Mass., home of the Basketball Hall of Fame, at the start of the 2009-10 season in November." ...
for the complete story
Anaheim Angels seat sales
from the Orange County Business Journal (3/31):
Angels Offer New Seats; Sales Slow, AIG Factor
By Michael Volpe
Orange County Business Journal Staff
"The Los Angeles Angels of Anaheim have carved out some prime field seats at Angel Stadium of Anaheim as the baseball team battles tough sales of season tickets.
The team is selling 36 seats in boxes next to the dugouts, which was empty space during last year’s regular season and was used for photographers during the playoffs." ...
for the complete story
Angels Offer New Seats; Sales Slow, AIG Factor
By Michael Volpe
Orange County Business Journal Staff
"The Los Angeles Angels of Anaheim have carved out some prime field seats at Angel Stadium of Anaheim as the baseball team battles tough sales of season tickets.
The team is selling 36 seats in boxes next to the dugouts, which was empty space during last year’s regular season and was used for photographers during the playoffs." ...
for the complete story
Thursday, March 26, 2009
Macao gaming manpower needs and wage data released
The 4th quarter 2008 Macao manpower needs and wage survey report for the gaming industry was released today.
Contact Ruth for the spreadsheets.
Contact Ruth for the spreadsheets.
Wednesday, March 25, 2009
Javitts expansion approved
from Tradeshow Week (3/25):
Javits Expansion Approved
-- Tradeshow Week, 3/25/2009 1:37:00 PM
"The Empire State Development Corp. board of directors has approved the $463 million expansion of the Jacob K. Javits Convention Center of New York." ...
for the complete story
Javits Expansion Approved
-- Tradeshow Week, 3/25/2009 1:37:00 PM
"The Empire State Development Corp. board of directors has approved the $463 million expansion of the Jacob K. Javits Convention Center of New York." ...
for the complete story
Canadian hotel financing slow
from the Globe and Mail (3/24):
Recession puts skids on hotel construction
While new projects are being shelved, sales of existing properties could see a rise as investors look for deals
TERRENCE BELFORD
March 24, 2009
"The once stately pace of new hotel construction in Canada has hit a recessionary speed bump.
The challenges of finding financing during a global credit crunch, along with uncertainties about short-term demand from both business and recreational travellers, has meant that almost all new projects in the planning stages, and even those in the early stages of construction, have or will be shelved to wait for better days, experts say." ...
for the complete story
Recession puts skids on hotel construction
While new projects are being shelved, sales of existing properties could see a rise as investors look for deals
TERRENCE BELFORD
March 24, 2009
"The once stately pace of new hotel construction in Canada has hit a recessionary speed bump.
The challenges of finding financing during a global credit crunch, along with uncertainties about short-term demand from both business and recreational travellers, has meant that almost all new projects in the planning stages, and even those in the early stages of construction, have or will be shelved to wait for better days, experts say." ...
for the complete story
Dubai topping list of hotel projects in the works
from Emirates Business 24|7 (3/24)
Dubai tops hotel pipeline list in Middle East, says report
By Nina Varghese on Tuesday, March 24, 2009
"Dubai has more hotel rooms in the pipeline than anywhere else in the Middle East, a new report reveals.
Thirty-four per cent of all hotel projects in the region are under construction in the emirate, according to the 2009 Hotel Pipeline Report by Lodging Econometrics." ...
for the complete story
for the summary Pipeline Reports on all regions contact Ruth
Dubai tops hotel pipeline list in Middle East, says report
By Nina Varghese on Tuesday, March 24, 2009
"Dubai has more hotel rooms in the pipeline than anywhere else in the Middle East, a new report reveals.
Thirty-four per cent of all hotel projects in the region are under construction in the emirate, according to the 2009 Hotel Pipeline Report by Lodging Econometrics." ...
for the complete story
for the summary Pipeline Reports on all regions contact Ruth
Doha opens Grand hyatt
from Al Bawaba (3/22):
Grand Hyatt Doha opens in Qatari Capital
Posted: 22-03-2009 , 11:06 GMT
"Hyatt Hotels & Resorts announced today the opening of Grand Hyatt Doha, a hotel and residential complex, which is the latest addition to Qatar’s luxury hospitality offerings and the first Hyatt hotel to be built in the country." ...
for the complete story with facility sizing and amenities details
Grand Hyatt Doha opens in Qatari Capital
Posted: 22-03-2009 , 11:06 GMT
"Hyatt Hotels & Resorts announced today the opening of Grand Hyatt Doha, a hotel and residential complex, which is the latest addition to Qatar’s luxury hospitality offerings and the first Hyatt hotel to be built in the country." ...
for the complete story with facility sizing and amenities details
Monclair Museum (NJ) announces financial plan
from Art Daily (3/25):
The Montclair Art Museum Launches Financial Security Plan
"MONTCLAIR, NJ.- In response to the current sharp economic downturn, the Montclair Art Museum (MAM) has conducted a strategic review of its operations and capitalization, culminating with the recent adoption by its Board of Trustees of a long-range financial security plan. The plan calls for expense reductions, including reductions in hours for staff; a major capital campaign; and a deaccessioning campaign to support future art acquisitions." ...
for the complete story
The Montclair Art Museum Launches Financial Security Plan
"MONTCLAIR, NJ.- In response to the current sharp economic downturn, the Montclair Art Museum (MAM) has conducted a strategic review of its operations and capitalization, culminating with the recent adoption by its Board of Trustees of a long-range financial security plan. The plan calls for expense reductions, including reductions in hours for staff; a major capital campaign; and a deaccessioning campaign to support future art acquisitions." ...
for the complete story
The Brooklyn Museum ups admission
from Art Daily (3/25):
Brooklyn Museum Increases Admissions
"BROOKLYN, NY.- The Brooklyn Museum announced today that it will increase its suggested admission fee to $10 for adults and to $6 for older adults and students with valid identification, effective Saturday, March 21, 2009. Admission, which has not been increased since 2004, is currently $8 for adults and $4 for seniors and students." ....
for the complete story
Brooklyn Museum Increases Admissions
"BROOKLYN, NY.- The Brooklyn Museum announced today that it will increase its suggested admission fee to $10 for adults and to $6 for older adults and students with valid identification, effective Saturday, March 21, 2009. Admission, which has not been increased since 2004, is currently $8 for adults and $4 for seniors and students." ....
for the complete story
Cultural institutions emphasizing the family
from the NY Times (3/19):
Putting a New Emphasis on ‘Family Friendly’
By KAREN BERMAN
"AT the Mint Museum of Art in Charlotte, N.C., families can help themselves to tote bags hanging in some of the galleries. Inside, they find felt-board collages that children can spread out on the floor, draw-your-own postcards in the landscape gallery and touchable wooden masks in the African gallery." ...
"Around the country, art museums large and small are finding innovative ways to attract families. Prompted by the aging of their primary audiences and competition from high-tech entertainment aimed at the young, curators and administrators are hoping to develop the next generation of regular museumgoers." ...
for the complete story
Putting a New Emphasis on ‘Family Friendly’
By KAREN BERMAN
"AT the Mint Museum of Art in Charlotte, N.C., families can help themselves to tote bags hanging in some of the galleries. Inside, they find felt-board collages that children can spread out on the floor, draw-your-own postcards in the landscape gallery and touchable wooden masks in the African gallery." ...
"Around the country, art museums large and small are finding innovative ways to attract families. Prompted by the aging of their primary audiences and competition from high-tech entertainment aimed at the young, curators and administrators are hoping to develop the next generation of regular museumgoers." ...
for the complete story
Macao visitor arrivals numbers
Macao has released their February 2009 visitor arrival numbers as well as revised annual totals for 2008.
For the spreadsheets, contact Ruth.
For the spreadsheets, contact Ruth.
Friday, March 20, 2009
Canadian retail up
from Royal Bank of Canada's Daily Economic Update (3/20):
Canadian retail sales show signs of life
"Retail sales came in stronger than expected in January, rising 1.9% compared to market expectations of a 1% gain. This increase only partially reverses the 5.2% drop in December. Eliminating the impact of price changes, the picture was little changed, with the volume of retail sales up a strong 1.8%, although this only reversed about one-half of December’s 4% drop.
Expectations of a solid gain in January retail sales were primarily based on indications of rising unit car sales and higher gasoline prices raising service station receipts." ...
for the complete story
Canadian retail sales show signs of life
"Retail sales came in stronger than expected in January, rising 1.9% compared to market expectations of a 1% gain. This increase only partially reverses the 5.2% drop in December. Eliminating the impact of price changes, the picture was little changed, with the volume of retail sales up a strong 1.8%, although this only reversed about one-half of December’s 4% drop.
Expectations of a solid gain in January retail sales were primarily based on indications of rising unit car sales and higher gasoline prices raising service station receipts." ...
for the complete story
SANDAG transport bond ratings upheld
from the San Diego Business Journal (3/19):
Posted date: 3/19/2009
Sandag Bonds Get High Marks
by Mike Allen
"Two Wall Street bond rating agencies reaffirmed the highest ratings on $600 million in transportation improvement bonds that were issued last year, according to the San Diego Association of Governments in a statement March 19." ...
for the complete story
Posted date: 3/19/2009
Sandag Bonds Get High Marks
by Mike Allen
"Two Wall Street bond rating agencies reaffirmed the highest ratings on $600 million in transportation improvement bonds that were issued last year, according to the San Diego Association of Governments in a statement March 19." ...
for the complete story
MI counties sue on hotel occupancy tax
from the Chicago Tribune (3/19):
4 Michigan counties sue over hotel occupancy taxes
Associated Press
7:37 AM CDT, March 19, 2009
"LANSING, Mich. - Four Michigan counties are suing several online travel companies, claiming that they're being shortchanged on local hotel occupancy taxes." ...
for the complete story
4 Michigan counties sue over hotel occupancy taxes
Associated Press
7:37 AM CDT, March 19, 2009
"LANSING, Mich. - Four Michigan counties are suing several online travel companies, claiming that they're being shortchanged on local hotel occupancy taxes." ...
for the complete story
Shanghai Bund on the hotel development rise
from Hotel News Now (3/21);
Bringing the Bund back to life
20 March 2009 7:52 AM
By Helena Iveson
"SHANGHAI—Recently, all the glamour in the Shanghai hotel scene has been on the futuristic Pudong side of the Huangpu, the river that divides the city in two. A rash of ultramodern luxury hotels like the Grand Hyatt and the Park Hyatt, both in two of the tallest skyscrapers in the world, alongside the Shangri-La and St. Regis, literally and metaphorically looked down on the stately but decaying procession of buildings along the Bund.
But now the tables are turning, and the Bund, with its mixture of East-meets-West architecture, soon will be the place to stay again." ...
for the complete story
Bringing the Bund back to life
20 March 2009 7:52 AM
By Helena Iveson
"SHANGHAI—Recently, all the glamour in the Shanghai hotel scene has been on the futuristic Pudong side of the Huangpu, the river that divides the city in two. A rash of ultramodern luxury hotels like the Grand Hyatt and the Park Hyatt, both in two of the tallest skyscrapers in the world, alongside the Shangri-La and St. Regis, literally and metaphorically looked down on the stately but decaying procession of buildings along the Bund.
But now the tables are turning, and the Bund, with its mixture of East-meets-West architecture, soon will be the place to stay again." ...
for the complete story
IL House promises to back Olympics' shortages
from Crain's Chicago Business 3/20:
Illinois House pledges $250M Olympics backstop
March 20, 2009
"(AP) —— The Illinois House has voted to pledge up to $250 million to Chicago for any potential losses it may incur if the city hosts the 2016 Olympic Games." ...
for the complete story
Illinois House pledges $250M Olympics backstop
March 20, 2009
"(AP) —— The Illinois House has voted to pledge up to $250 million to Chicago for any potential losses it may incur if the city hosts the 2016 Olympic Games." ...
for the complete story
Wednesday, March 18, 2009
NY museums cutting back
from the NY Times (3/19):
March 19, 2009
New York’s Local Museums Feel the Pinch
By ROBIN POGREBIN
"THE Queens County Farm Museum has switched its animal feed to spent grains donated by the Brooklyn Brewery, and Flushing Town Hall, which presents arts and education programs, has taken its trolley tours of famous jazz sites off the road.
The Bronx Museum of the Arts has laid off part-time security guards and postponed plans to build a “youth activity garden” in its three back lots, because its capital money dried up.
The Staten Island Museum finds itself trying to slim down even as it prepares to move its library and archive into buildings at the Snug Harbor Cultural Center and Botanical Garden, which requires more staff." ...
for the complete story
March 19, 2009
New York’s Local Museums Feel the Pinch
By ROBIN POGREBIN
"THE Queens County Farm Museum has switched its animal feed to spent grains donated by the Brooklyn Brewery, and Flushing Town Hall, which presents arts and education programs, has taken its trolley tours of famous jazz sites off the road.
The Bronx Museum of the Arts has laid off part-time security guards and postponed plans to build a “youth activity garden” in its three back lots, because its capital money dried up.
The Staten Island Museum finds itself trying to slim down even as it prepares to move its library and archive into buildings at the Snug Harbor Cultural Center and Botanical Garden, which requires more staff." ...
for the complete story
IALEI moves to merge with IAAPA
IALEI announced to members today that it has begun the process of a full merger of operations with IAAPA.
Tuesday, March 17, 2009
L.A. port traffic down
from the Los Angeles Business Journal (3/17):
Posted date: 3/17/2009
Traffic Down at Long Beach Port
By FRANCISCO VARA-ORTA
"Container traffic at the Port of Long Beach fell 40 percent last month, shrinking back to trade levels seen five years ago, according to figures released Tuesday.
Long Beach’s figures mirror lower business at the Port of Los Angeles, which was released last week and showed a fall of more than a third – and indicating an accelerating trade decline that port officials don’t expect will reverse this year." ...
for the complete story
Posted date: 3/17/2009
Traffic Down at Long Beach Port
By FRANCISCO VARA-ORTA
"Container traffic at the Port of Long Beach fell 40 percent last month, shrinking back to trade levels seen five years ago, according to figures released Tuesday.
Long Beach’s figures mirror lower business at the Port of Los Angeles, which was released last week and showed a fall of more than a third – and indicating an accelerating trade decline that port officials don’t expect will reverse this year." ...
for the complete story
The stimulus package and the construction industry
from Reed Construction Data (3/17):
Stimulus Impact on Construction Begins in April
Mar 17, 2009 - Jim Haughey
"The $787 billion economic stimulus plan will begin to impact the construction market in April. The added federal spending is about 1-1.5% of GDP in 2009, which is only enough to reduce the severity of the recession. GDP is likely dropping at a 4-5% annual pace in the current quarter, and will still be declining faster than a 1% pace through the summer.
While a second round of stimulus spending is being discussed in Washington, the economy — and the construction market — is expected to work through the inventory cycle and be expanding by the end of the year." ...
for the complete story
Stimulus Impact on Construction Begins in April
Mar 17, 2009 - Jim Haughey
"The $787 billion economic stimulus plan will begin to impact the construction market in April. The added federal spending is about 1-1.5% of GDP in 2009, which is only enough to reduce the severity of the recession. GDP is likely dropping at a 4-5% annual pace in the current quarter, and will still be declining faster than a 1% pace through the summer.
While a second round of stimulus spending is being discussed in Washington, the economy — and the construction market — is expected to work through the inventory cycle and be expanding by the end of the year." ...
for the complete story
FL tourism and austerity meeting planning
from the Wall Street Journal (3/17):
MARCH 17, 2009
Austerity Tide Hits Florida Beaches
Tourism Industry Suffers as Businesses Cancel or Scale Back Events in the Sunshine State
By ALEX ROTH
"AMELIA ISLAND, Fla. -- Luxury resorts are accustomed to unusual requests. But Amelia Island Plantation was surprised to get this one from a corporate event planner worried about a function appearing too extravagant: could the resort drop the word "island" from its address?
Only a scattering of people dotted the sand near the Ocean Drive strip in Miami Beach in late January. In the last quarter of 2008, the number of out-of-state visitors to Florida dropped 13.6% from a year earlier, the largest decline since the quarter following the Sept. 11, 2001, attacks." ...
"For tourism officials in Florida, the drop-off at Amelia Island Plantation is an ominous sign that the tourism industry, the state's lifeblood, is in for a brutal year. Executives at the resort say they have lost about $750,000 in revenue since January, as businesses and trade groups shun the negative publicity associated with anything even remotely resembling a boondoggle." ...
for the complete story
MARCH 17, 2009
Austerity Tide Hits Florida Beaches
Tourism Industry Suffers as Businesses Cancel or Scale Back Events in the Sunshine State
By ALEX ROTH
"AMELIA ISLAND, Fla. -- Luxury resorts are accustomed to unusual requests. But Amelia Island Plantation was surprised to get this one from a corporate event planner worried about a function appearing too extravagant: could the resort drop the word "island" from its address?
Only a scattering of people dotted the sand near the Ocean Drive strip in Miami Beach in late January. In the last quarter of 2008, the number of out-of-state visitors to Florida dropped 13.6% from a year earlier, the largest decline since the quarter following the Sept. 11, 2001, attacks." ...
"For tourism officials in Florida, the drop-off at Amelia Island Plantation is an ominous sign that the tourism industry, the state's lifeblood, is in for a brutal year. Executives at the resort say they have lost about $750,000 in revenue since January, as businesses and trade groups shun the negative publicity associated with anything even remotely resembling a boondoggle." ...
for the complete story
The KORPACZ is here! The Korpacz is here!
1st Quarter 2009 is in the house. ... picture forthcoming.
Tuesday, February 17, 2009
Macao statistical data available
Macao has released their most recent visitor expenditure statistics.
Contact Ruth for further info --- on any Macao stats you might be interested in.
Contact Ruth for further info --- on any Macao stats you might be interested in.
Wednesday, February 11, 2009
NY museum doing well
from Crain's New York Business (2/4):
New museum exceeds expectations
By Miriam Kreinin Souccar
Published: February 4, 2009 - 2:37 pm
"The Museum of Arts and Design has proven its critics wrong.
Since opening its $95 million remake of the late architect Edward Durell Stone’s “lollipop” building on Columbus Circle about four months ago, the museum has received more than 160,000 visitors." ...
for the complete story
New museum exceeds expectations
By Miriam Kreinin Souccar
Published: February 4, 2009 - 2:37 pm
"The Museum of Arts and Design has proven its critics wrong.
Since opening its $95 million remake of the late architect Edward Durell Stone’s “lollipop” building on Columbus Circle about four months ago, the museum has received more than 160,000 visitors." ...
for the complete story
Corp travel budgets cut
from USA Today (2/10):
Surprising number of companies cut travel spending
By Dan Reed, USA TODAY
"Twice as many U.S. companies as previously expected are cutting their travel spending this year in response to economic weakness and uncertainty.
The Association of Corporate Travel Executives says 71% of its member companies now plan to spend less on travel this year than in 2008. That's a huge and unprecedented shift in corporate travel managers' plans from just five months ago, says Susan Gurley, the association's executive director." ...
for the complete story
Surprising number of companies cut travel spending
By Dan Reed, USA TODAY
"Twice as many U.S. companies as previously expected are cutting their travel spending this year in response to economic weakness and uncertainty.
The Association of Corporate Travel Executives says 71% of its member companies now plan to spend less on travel this year than in 2008. That's a huge and unprecedented shift in corporate travel managers' plans from just five months ago, says Susan Gurley, the association's executive director." ...
for the complete story
Arts economic impact questioned
from the Boston Globe (2/5):
Stimulus funding for arts hits nerve
Some doubt it would create jobs
By Michael Kranish, Globe Staff | February 5, 2009
"WASHINGTON - The massive economic stimulus bill moving through Congress is being watched closely by arts groups across the country, including the Massachusetts Cultural Council. If the House version becomes law, the National Endowment for the Arts would get $50 million - and the council's federal funding would soar by nearly 50 percent.
While the NEA money is a minuscule portion of the $819 billion House bill, it has become a lightning rod for some critics, who question whether the dollars for the arts will create many jobs - and who see the money as a symbol of House Democrats trying to lard up the plan with spending wish lists that have been pent up for years.
The criticism has reached such a crescendo that some arts advocates are concerned that the push for the $50 million could backfire, reigniting a debate over the value of taxpayers funding everything from "poetry out loud" events to community theater." ...
for the complete story
Stimulus funding for arts hits nerve
Some doubt it would create jobs
By Michael Kranish, Globe Staff | February 5, 2009
"WASHINGTON - The massive economic stimulus bill moving through Congress is being watched closely by arts groups across the country, including the Massachusetts Cultural Council. If the House version becomes law, the National Endowment for the Arts would get $50 million - and the council's federal funding would soar by nearly 50 percent.
While the NEA money is a minuscule portion of the $819 billion House bill, it has become a lightning rod for some critics, who question whether the dollars for the arts will create many jobs - and who see the money as a symbol of House Democrats trying to lard up the plan with spending wish lists that have been pent up for years.
The criticism has reached such a crescendo that some arts advocates are concerned that the push for the $50 million could backfire, reigniting a debate over the value of taxpayers funding everything from "poetry out loud" events to community theater." ...
for the complete story
NY museums face the economy
from Crain's New York Business (2/1):
Picture darkens for city's museums
By Miriam Kreinin Souccar
Published: February 1, 2009 - 5:59 am
"As a way to save money, the Queens Museum of Art will no longer provide visitors with exhibition brochures. The American Museum of Natural History has canceled its popular Friday night jazz concerts. And the Brooklyn Museum is planning more exhibits around its own collections." ...
"Hit with steep cuts in public funding, as well as declines in earned income and corporate and foundation grants, museums throughout the city are slashing budgets, laying off staff and doing everything else they can to operate with dwindling resources. For New York culture hounds, that will mean their favorite museums will have fewer—and less ambitious—shows and special programs, as well as shorter hours." ...
for the complete story
Picture darkens for city's museums
By Miriam Kreinin Souccar
Published: February 1, 2009 - 5:59 am
"As a way to save money, the Queens Museum of Art will no longer provide visitors with exhibition brochures. The American Museum of Natural History has canceled its popular Friday night jazz concerts. And the Brooklyn Museum is planning more exhibits around its own collections." ...
"Hit with steep cuts in public funding, as well as declines in earned income and corporate and foundation grants, museums throughout the city are slashing budgets, laying off staff and doing everything else they can to operate with dwindling resources. For New York culture hounds, that will mean their favorite museums will have fewer—and less ambitious—shows and special programs, as well as shorter hours." ...
for the complete story
Hard Rock Park to be bought by MB Entertainment
from PR Newswire (2/11):
FPI MB Entertainment LLC Enters Into Contract With Bankruptcy Court Trustee to Purchase Assets of Hard Rock Park
"MYRTLE BEACH, S.C., Feb. 11 /PRNewswire/ -- FPI MB Entertainment LLC (FPI MBE) announced today it has entered into a contract to purchase substantially all the assets of Hard Rock Park in Myrtle Beach, S.C. The group's contract is with the appointed Chapter 7 Trustee in the United States Bankruptcy Court for the District of Delaware. The group has a fully-financed contract for the purchase price of $25 million, as well as, additional committed capital to open the park for the 2009 season." ...
for the complete story
FPI MB Entertainment LLC Enters Into Contract With Bankruptcy Court Trustee to Purchase Assets of Hard Rock Park
"MYRTLE BEACH, S.C., Feb. 11 /PRNewswire/ -- FPI MB Entertainment LLC (FPI MBE) announced today it has entered into a contract to purchase substantially all the assets of Hard Rock Park in Myrtle Beach, S.C. The group's contract is with the appointed Chapter 7 Trustee in the United States Bankruptcy Court for the District of Delaware. The group has a fully-financed contract for the purchase price of $25 million, as well as, additional committed capital to open the park for the 2009 season." ...
for the complete story
Tuesday, February 10, 2009
Stadiums in this economy
from the L.A. Times (2/10):
Sports stadiums face economic fault line
A flurry of ballparks and arenas are being built across the country, but the price tags that amount to a cumulative total of about $10 billion may result in a disconnect for fans.
By Greg Johnson
February 10, 2009
"At the Dallas Cowboys stadium that will open for the next NFL season, what catches your eye -- no, what makes your jaw drop -- might be the 60-yard-long video screen that hangs from the translucent, movable roof.
At the New York Mets ballpark that will open April 13, it might be the soaring open-air rotunda that honors Jackie Robinson.
Yet for sports fans caught in the grip of an increasingly ugly recession, the most stunning feature of the newest generation of sports venues might be the price tag." ...
for the complete story
Sports stadiums face economic fault line
A flurry of ballparks and arenas are being built across the country, but the price tags that amount to a cumulative total of about $10 billion may result in a disconnect for fans.
By Greg Johnson
February 10, 2009
"At the Dallas Cowboys stadium that will open for the next NFL season, what catches your eye -- no, what makes your jaw drop -- might be the 60-yard-long video screen that hangs from the translucent, movable roof.
At the New York Mets ballpark that will open April 13, it might be the soaring open-air rotunda that honors Jackie Robinson.
Yet for sports fans caught in the grip of an increasingly ugly recession, the most stunning feature of the newest generation of sports venues might be the price tag." ...
for the complete story
Great Park, Irvine (CA)
from the L.A. Times (2/10):
Design completed for Great Park in Irvine
Building it is another matter: Budget and construction timelines are up in the air. Park officials wait for a new agreement with Lennar Corp., which plans to develop space around the park.
By Paloma Esquivel
February 10, 2009
"The housing boom may be bust and the economy may be circling the drain, but that hasn't stopped the design of Orange County's Great Park from being completed." ...
for the complete story
Design completed for Great Park in Irvine
Building it is another matter: Budget and construction timelines are up in the air. Park officials wait for a new agreement with Lennar Corp., which plans to develop space around the park.
By Paloma Esquivel
February 10, 2009
"The housing boom may be bust and the economy may be circling the drain, but that hasn't stopped the design of Orange County's Great Park from being completed." ...
for the complete story
Aecom up 39%
from the Los Angeles Business Journal (2/10):
Posted date: 2/10/2009
Aecom Posts Higher Profit in Quarter
By DEBORAH CROWE
Los Angeles Business Journal Staff
"Aecom Technology Corp on Tuesday reported a 39 percent increased in fiscal first quarter net income, helped by strong growth across its businesses.
The Los Angeles Engineering and design firm reported net income of $40.9 million (38 cents per share) compared with $29.5 million (29 cents) a year ago Revenue rose 35 percent to $1.45 billion." ...
for the complete story
Posted date: 2/10/2009
Aecom Posts Higher Profit in Quarter
By DEBORAH CROWE
Los Angeles Business Journal Staff
"Aecom Technology Corp on Tuesday reported a 39 percent increased in fiscal first quarter net income, helped by strong growth across its businesses.
The Los Angeles Engineering and design firm reported net income of $40.9 million (38 cents per share) compared with $29.5 million (29 cents) a year ago Revenue rose 35 percent to $1.45 billion." ...
for the complete story
Monday, February 9, 2009
Timeshares to fall out?
from Reuters (2/6):
Time bomb?
Fri Feb 6, 2009 7:39pm EST
"Vacation time-shares must rank near the bottom of anyone's must-have list these days, not far from designer water, animal shrinks and personal spa consultants. That the high-pressure industry is reeling comes as no surprise. What's less obvious is why the business didn't fall apart sooner, especially since it is caught in the same securitization collapse that buried subprime mortgages and other asset-backed securities.
Banish any thoughts that time-share developers are immune from the economic downdraft. Marketing of new time-shares is being drastically cut. Time-share financing is extremely tough. Securitization is nonexistent." ...
for the complete story
Time bomb?
Fri Feb 6, 2009 7:39pm EST
"Vacation time-shares must rank near the bottom of anyone's must-have list these days, not far from designer water, animal shrinks and personal spa consultants. That the high-pressure industry is reeling comes as no surprise. What's less obvious is why the business didn't fall apart sooner, especially since it is caught in the same securitization collapse that buried subprime mortgages and other asset-backed securities.
Banish any thoughts that time-share developers are immune from the economic downdraft. Marketing of new time-shares is being drastically cut. Time-share financing is extremely tough. Securitization is nonexistent." ...
for the complete story
Equity Office Properties/Blackstone deal continues to ripple through the market
from the New York Times (2/7):
Sam Zell’s Empire, Underwater in a Big Way
By CHARLES V. BAGLI
"It was, for a brief shining moment, the real estate deal of the century.
In 2007, Sam Zell, the billionaire Chicago investor, sold a portfolio of 573 properties he had assembled over three decades, Equity Office Properties Trust, to the Blackstone Group for $39 billion. It was the largest private equity deal in history, but Blackstone did not stop there: it immediately flipped hundreds of the buildings for $27 billion.
Today, the wreckage of those purchases is strewn across the country, from Southern California to Austin, Tex., to Chicago to New York. Many of the 16 companies that bought Equity Office buildings are now stuck with punishing debt, properties whose values are plummeting and millions of feet of office space they cannot fill." ...
for the complete story
Sam Zell’s Empire, Underwater in a Big Way
By CHARLES V. BAGLI
"It was, for a brief shining moment, the real estate deal of the century.
In 2007, Sam Zell, the billionaire Chicago investor, sold a portfolio of 573 properties he had assembled over three decades, Equity Office Properties Trust, to the Blackstone Group for $39 billion. It was the largest private equity deal in history, but Blackstone did not stop there: it immediately flipped hundreds of the buildings for $27 billion.
Today, the wreckage of those purchases is strewn across the country, from Southern California to Austin, Tex., to Chicago to New York. Many of the 16 companies that bought Equity Office buildings are now stuck with punishing debt, properties whose values are plummeting and millions of feet of office space they cannot fill." ...
for the complete story
Thursday, February 5, 2009
University museum to be shuttered
from the Wall Street Journal (2/3):
FEBRUARY 3, 2009, 11:40 P.M. ET
The Brandeis Bombshell
Is the University's Museum Just a Rose to Be Plucked?
By DANIEL GRANT
"For the trustees at Brandeis University, the easy part is over. Without an apparent word of dissent, all 50 or so trustees approved a plan on Jan. 26 to close the university's 48-year-old Rose Art Museum and sell its entire 7,180-piece art collection, which was last appraised in 2006 at about $350 million.
Brandeis's endowment had plunged to $540 million at the end of 2008 from $712 million as of June 30 of that year, and it was earning significantly less than the 8%-plus annual return on investment it had posted on June 30. Some of Brandeis's trustees are believed to have lost money from Bernard Madoff's Ponzi scheme, limiting their ability to make up the difference. The school, which by law spends only its gains and not the principal of the endowment, reduced expenditures by $10 million and instituted various budget-freezing measures," ....
for the complete story
FEBRUARY 3, 2009, 11:40 P.M. ET
The Brandeis Bombshell
Is the University's Museum Just a Rose to Be Plucked?
By DANIEL GRANT
"For the trustees at Brandeis University, the easy part is over. Without an apparent word of dissent, all 50 or so trustees approved a plan on Jan. 26 to close the university's 48-year-old Rose Art Museum and sell its entire 7,180-piece art collection, which was last appraised in 2006 at about $350 million.
Brandeis's endowment had plunged to $540 million at the end of 2008 from $712 million as of June 30 of that year, and it was earning significantly less than the 8%-plus annual return on investment it had posted on June 30. Some of Brandeis's trustees are believed to have lost money from Bernard Madoff's Ponzi scheme, limiting their ability to make up the difference. The school, which by law spends only its gains and not the principal of the endowment, reduced expenditures by $10 million and instituted various budget-freezing measures," ....
for the complete story
Wednesday, February 4, 2009
Bahrain buying up Dubai
from Trade Arabia (2/4):
Bahrainis pump $167m into Dubai property
Dubai: Wed, 4 Feb 2009
"Bahraini investments into the Dubai real estate sector have topped Dh615 million ($167.4 million) in 2008, says a recent study by REIDIN.com.
This underlines the pull of the emirate among Bahrain-based investors and the strong capacity of this affluent group to undertake sizeable ventures in the property development front." ...
for the complete story
Bahrainis pump $167m into Dubai property
Dubai: Wed, 4 Feb 2009
"Bahraini investments into the Dubai real estate sector have topped Dh615 million ($167.4 million) in 2008, says a recent study by REIDIN.com.
This underlines the pull of the emirate among Bahrain-based investors and the strong capacity of this affluent group to undertake sizeable ventures in the property development front." ...
for the complete story
UAE expenditure survey results announced
from Trade Arabia (2/4):
UAE unveils expenditure survey figures Dubai: Wed, 4 Feb 2009
"The average monthly household income of UAE residents is Dh18,248.60 ($4,969) and expenditure is Dh11,241.20." ...
for the complete story
UAE unveils expenditure survey figures Dubai: Wed, 4 Feb 2009
"The average monthly household income of UAE residents is Dh18,248.60 ($4,969) and expenditure is Dh11,241.20." ...
for the complete story
Wednesday, January 28, 2009
Chicago museums doing ok -- attendance figures released for 2008
from Museums in the Park (1/27):
2008 Museums In the Park Attendance Figures
Released on Tuesday, January 27th, 2009
Museums Report Only a Slight Decrease Even in Difficult Economic Times
"CHICAGO (January 27, 2008) - With a combined attendance of nearly 7.7 million, Chicago’s 10 world-class cultural attractions known as the Museums In the Park (MIP) report only a minor decrease in 2008 attendance - down only 1 percent from 7.8 million in 2007. The John G. Shedd Aquarium maintains its position in the top spot with nearly 1.9 million visitors, followed by Museum of Science and Industry at 1.4 million and The Art Institute at nearly 1.4 million." ...
for the complete press release
2008 Museums In the Park Attendance Figures
Released on Tuesday, January 27th, 2009
Museums Report Only a Slight Decrease Even in Difficult Economic Times
"CHICAGO (January 27, 2008) - With a combined attendance of nearly 7.7 million, Chicago’s 10 world-class cultural attractions known as the Museums In the Park (MIP) report only a minor decrease in 2008 attendance - down only 1 percent from 7.8 million in 2007. The John G. Shedd Aquarium maintains its position in the top spot with nearly 1.9 million visitors, followed by Museum of Science and Industry at 1.4 million and The Art Institute at nearly 1.4 million." ...
for the complete press release
Friday, January 23, 2009
EU's neighborhood investments (NIF) going well
from the EU's Rapid releases (1/23)
The European Union actively supports investments for infrastructure projects in the EU's neighbourhood
Brussels 23 Jan 2009
"After only a year of activity, the Neighbourhood Investment Facility (NIF) has already produced impressive results on the ground and has contributed to mobilising important funding for infrastructure projects in the neighbourhood region of the European Union. The € 71 million of grants provided by the NIF in 2008 underpinned projects worth around € 2.7 billion, of which € 1.6 billion come from loans provided by the European Public Finance Institutions, such as the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the Council of Europe Development Bank (CEB), the Agence Française de Développement (AFD) and the Kreditanstalt für Wiederaufbau (KfW).
"Together with the Member States, we brought a real answer to the demand for concrete actions linking the EU and its Southern and Eastern neighbours more closely together. The Neighbourhood Investment Facility leverages the financing of key infrastructure projects which bring tangible and visible results for the citizens in our neighbourhood, ranging from the renovation of a hospital in Moldova to the construction of renewable energy power plants in Egypt. This shows that the EU is serious about drawing its partners closer", said Benita Ferrero-Waldner, European Commissioner for External Relations and European Neighbourhood Policy (ENP).
The Neighbourhood Investment Facility is a key instrument of the European Neighbourhood Policy. In 2008, the NIF has funded among others projects like the renovation of a hospital and the rehabilitation of roads facilitating communication and trade in the Republic of Moldova, the building of renewable energy power plants in Egypt addressing our common clean energy priorities and environmental concerns or the construction of transmission lines in Georgia improving energy interconnectivity and security. In total, fifteen projects were supported by the NIF in 2008, in countries such as Armenia, Azerbaijan, Georgia, the Republic of Moldova, Ukraine, Egypt, Morocco and Tunisia." ...
for the complete release
The European Union actively supports investments for infrastructure projects in the EU's neighbourhood
Brussels 23 Jan 2009
"After only a year of activity, the Neighbourhood Investment Facility (NIF) has already produced impressive results on the ground and has contributed to mobilising important funding for infrastructure projects in the neighbourhood region of the European Union. The € 71 million of grants provided by the NIF in 2008 underpinned projects worth around € 2.7 billion, of which € 1.6 billion come from loans provided by the European Public Finance Institutions, such as the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the Council of Europe Development Bank (CEB), the Agence Française de Développement (AFD) and the Kreditanstalt für Wiederaufbau (KfW).
"Together with the Member States, we brought a real answer to the demand for concrete actions linking the EU and its Southern and Eastern neighbours more closely together. The Neighbourhood Investment Facility leverages the financing of key infrastructure projects which bring tangible and visible results for the citizens in our neighbourhood, ranging from the renovation of a hospital in Moldova to the construction of renewable energy power plants in Egypt. This shows that the EU is serious about drawing its partners closer", said Benita Ferrero-Waldner, European Commissioner for External Relations and European Neighbourhood Policy (ENP).
The Neighbourhood Investment Facility is a key instrument of the European Neighbourhood Policy. In 2008, the NIF has funded among others projects like the renovation of a hospital and the rehabilitation of roads facilitating communication and trade in the Republic of Moldova, the building of renewable energy power plants in Egypt addressing our common clean energy priorities and environmental concerns or the construction of transmission lines in Georgia improving energy interconnectivity and security. In total, fifteen projects were supported by the NIF in 2008, in countries such as Armenia, Azerbaijan, Georgia, the Republic of Moldova, Ukraine, Egypt, Morocco and Tunisia." ...
for the complete release
Smart growth developer, John Laing Homes, in toruble
from the Sacramento Bee (1/23):
Home Front: 'Smart-growth' home builder's fate unknown
Published: Friday, Jan. 23, 2009
"Another venerable name in Sacramento-area home building is apparently on the ropes.
Irvine-based John Laing Homes, consistently in or near the top 10 for area builders in recent years, "is currently reviewing all potential options to meet its capital requirements," says the firm." ...
"As one of the largest privately owned builders in the United States, it has 10 developments in the Sacramento region. It is considered by most a high-quality builder, a firm that has made its mark in what some call "smart growth": more homes than usual on an acre of land." ...
for the complete story
Home Front: 'Smart-growth' home builder's fate unknown
Published: Friday, Jan. 23, 2009
"Another venerable name in Sacramento-area home building is apparently on the ropes.
Irvine-based John Laing Homes, consistently in or near the top 10 for area builders in recent years, "is currently reviewing all potential options to meet its capital requirements," says the firm." ...
"As one of the largest privately owned builders in the United States, it has 10 developments in the Sacramento region. It is considered by most a high-quality builder, a firm that has made its mark in what some call "smart growth": more homes than usual on an acre of land." ...
for the complete story
ASU (AZ) may close a campus due to budget cuts
from the Arizona Republic (1/23):
ASU may have to shut 1 or 2 of its campuses
by William Hermann - Jan. 23, 2009 12:00 AM
The Arizona Republic
"As Arizona State University officials struggle to meet major budget-cut demands from the Legislature, the possibility of closing one or two satellite campuses "is on the table," said Virgil Renzulli, vice president for public affairs.
In the face of possible cuts of $600 million to the Arizona university system, the ASU Polytechnic campus in east Mesa and ASU West in Phoenix could be closed, Renzulli said." ...
for the complete story
ASU may have to shut 1 or 2 of its campuses
by William Hermann - Jan. 23, 2009 12:00 AM
The Arizona Republic
"As Arizona State University officials struggle to meet major budget-cut demands from the Legislature, the possibility of closing one or two satellite campuses "is on the table," said Virgil Renzulli, vice president for public affairs.
In the face of possible cuts of $600 million to the Arizona university system, the ASU Polytechnic campus in east Mesa and ASU West in Phoenix could be closed, Renzulli said." ...
for the complete story
Dadgers thinking hotel for spring training
from the Arizona Republic (1/20):
Dodgers want to build hotel at new Glendale spring training site
by Carrie Watters - Jan. 20, 2009 07:17 AM
The Arizona Republic
"Los Angeles Dodgers owner Frank McCourt has confirmed that he wants to build a hotel and conference center at Glendale's new spring training complex, much like the team had at Dodgertown, their 60-year Florida home.
The hotel would be used by minor league players as well as the public. McCourt said he had no timeline for such a project. For now, he said, his focus is to open the ballpark." ...
for the complete story
Dodgers want to build hotel at new Glendale spring training site
by Carrie Watters - Jan. 20, 2009 07:17 AM
The Arizona Republic
"Los Angeles Dodgers owner Frank McCourt has confirmed that he wants to build a hotel and conference center at Glendale's new spring training complex, much like the team had at Dodgertown, their 60-year Florida home.
The hotel would be used by minor league players as well as the public. McCourt said he had no timeline for such a project. For now, he said, his focus is to open the ballpark." ...
for the complete story
AZ marathon brings in business
from the Arizona Republic (1/22):
P.F.Chang's marathon gave boost to businesses
by Dianna M. Náñez - Jan. 22, 2009 01:53 PM
The Arizona Republic
"Record participation for the P.F. Chang's Rock 'n' Roll Marathon, seems to have turned into an economic boon for some local businesses.
With an estimated 34,800 registered competitors and about 28,404 runners finishing the race, the event won back the top spot for the largest race of its kind in the nation. It spans from Phoenix through Scottsdale and wraps up in Tempe." ...
"The crowds were also good news for Valley businesses struggling through the recession.
Cruz said hotels, restaurants and other typical tourist-industry businesses see a boost related to the race." ...
for the complete story
P.F.Chang's marathon gave boost to businesses
by Dianna M. Náñez - Jan. 22, 2009 01:53 PM
The Arizona Republic
"Record participation for the P.F. Chang's Rock 'n' Roll Marathon, seems to have turned into an economic boon for some local businesses.
With an estimated 34,800 registered competitors and about 28,404 runners finishing the race, the event won back the top spot for the largest race of its kind in the nation. It spans from Phoenix through Scottsdale and wraps up in Tempe." ...
"The crowds were also good news for Valley businesses struggling through the recession.
Cruz said hotels, restaurants and other typical tourist-industry businesses see a boost related to the race." ...
for the complete story
Legoland hotel wins approval (so far) in San Diegos
from the San Diego Business Journal (1/22):
Legoland Hotel Plan Clicks With Planning Commissioners
By - 1/22/2009
San Diego Business Journal Staff
"Plans for a hotel on the grounds of Legoland California cleared a first hurdle with approval by the Carlsbad Planning Commission.
The commission, an advisory board, approved plans on Jan. 21 for a 250-room hotel that would stand east of the entrance to the park where RVs and buses currently park." ...
story
Legoland Hotel Plan Clicks With Planning Commissioners
By - 1/22/2009
San Diego Business Journal Staff
"Plans for a hotel on the grounds of Legoland California cleared a first hurdle with approval by the Carlsbad Planning Commission.
The commission, an advisory board, approved plans on Jan. 21 for a 250-room hotel that would stand east of the entrance to the park where RVs and buses currently park." ...
story
Macao tourist price index up
from the Macao Statistics and Census Service (1/15):
Tourist Price Index for the 4th Quarter 2008
15/01/2009
"Information from the Statistics and Census Service indicated that the Tourist Price Index (TPI) for the fourth quarter of 2008 was 145.19, up by 6.48% year-on-year. The price indices of Restaurant Service; Food, Alcoholic Drinks & Tobacco; and Clothing & Footwear surged significantly by 13.53%, 11.66% and 11.08% respectively, which was attributable to rising charges of restaurant service and dearer prices of alcoholic beverages, tobacco and pastries, as well as the general increase of the prices of men’s and ladies’ clothing. On the contrary, the price index of Accommodation registered a year-on-year decrease of 5.85% as a result of lower hotel room rates." ...
for the complete release
for the full 4th Quarter report
Tourist Price Index for the 4th Quarter 2008
15/01/2009
"Information from the Statistics and Census Service indicated that the Tourist Price Index (TPI) for the fourth quarter of 2008 was 145.19, up by 6.48% year-on-year. The price indices of Restaurant Service; Food, Alcoholic Drinks & Tobacco; and Clothing & Footwear surged significantly by 13.53%, 11.66% and 11.08% respectively, which was attributable to rising charges of restaurant service and dearer prices of alcoholic beverages, tobacco and pastries, as well as the general increase of the prices of men’s and ladies’ clothing. On the contrary, the price index of Accommodation registered a year-on-year decrease of 5.85% as a result of lower hotel room rates." ...
for the complete release
for the full 4th Quarter report
Macao visitation declined in December
from the Macao Statistics and Census Service (1/23):
Visitor Arrivals for December 2008
23/01/2009
"Information from the Statistics and Census Service indicated that visitor arrivals totalled 2,546,079 in December 2008, corresponding to a year-on-year decrease of 2.7% since June 2003. Visitors from Mainland China (1,389,822) dropped by 3.9%, whereas those from Hong Kong (736,651) and Southeast Asia (180,001) rose by 1.6% and 3.3% respectively. Same-day visitors took up 50.1% of the total arrivals, at 1,275,453." ...
for the complete data release
Visitor Arrivals for December 2008
23/01/2009
"Information from the Statistics and Census Service indicated that visitor arrivals totalled 2,546,079 in December 2008, corresponding to a year-on-year decrease of 2.7% since June 2003. Visitors from Mainland China (1,389,822) dropped by 3.9%, whereas those from Hong Kong (736,651) and Southeast Asia (180,001) rose by 1.6% and 3.3% respectively. Same-day visitors took up 50.1% of the total arrivals, at 1,275,453." ...
for the complete data release
Thursday, January 22, 2009
Pittsburgh's Carnegie Museums doing well
from the Pittsburgh Business Times (1/22):
Thursday, January 22, 2009, 11:25am EST
Carnegie Museums of Pittsburgh set annual admissions record
Pittsburgh Business Times
"Carnegie Museums of Pittsburgh set a new annual admissions record in 2008 as more than 1.185 million people visited its four museums, snapping the prior record of 1.013 million in 2001. These are the Carnegie Museum of Art, Carnegie Museum of Natural History, Carnegie Science Center and The Andy Warhol Museum on Pittsburgh’s North Side." ...
for the complete story
Thursday, January 22, 2009, 11:25am EST
Carnegie Museums of Pittsburgh set annual admissions record
Pittsburgh Business Times
"Carnegie Museums of Pittsburgh set a new annual admissions record in 2008 as more than 1.185 million people visited its four museums, snapping the prior record of 1.013 million in 2001. These are the Carnegie Museum of Art, Carnegie Museum of Natural History, Carnegie Science Center and The Andy Warhol Museum on Pittsburgh’s North Side." ...
for the complete story
Wednesday, January 21, 2009
Long Beach Port to move ahead with truck fees
from the Los Angeles Business Journal (1/21):
Posted date: 1/21/2009
Long Beach Port to Begin Collecting Fee
By FRANCISCO VARA-ORTA
Los Angeles Business Journal Staff
"The Port of Long Beach announced Wednesday it will forge ahead and start collecting a Clean Trucks Fee on February 18, despite numerous delays imposed by a federal regulators and pending court cases that could derail the plans to clean up pollution at the port and its neighbor, the Port of Los Angeles." ...
for the complete story
Posted date: 1/21/2009
Long Beach Port to Begin Collecting Fee
By FRANCISCO VARA-ORTA
Los Angeles Business Journal Staff
"The Port of Long Beach announced Wednesday it will forge ahead and start collecting a Clean Trucks Fee on February 18, despite numerous delays imposed by a federal regulators and pending court cases that could derail the plans to clean up pollution at the port and its neighbor, the Port of Los Angeles." ...
for the complete story
CA moves to collect voluntary sales tax on out-of-state purchases
from the CA state Board of Equalization (1/21):
Board of Equalization Encourages Taxpayers to Participate in Voluntary Disclosure Program
"The California State Board of Equalization (BOE) today encouraged purchasers of tangible personal property who have not already paid tax on these purchases to register with the BOE for the In-State Voluntary Disclosure Program (VDP) to pay their use tax.
Generally, use tax applies when a person or business in California purchases tangible merchandise from a retailer outside of this state that will be used, consumed, given away, or stored in this state and the retailer does not collect California tax on their sales.
The benefit of the VDP is that it allows taxpayers to report and pay their use tax liability subject to a three-year statute of limitations." ...
for the complete announcement
Board of Equalization Encourages Taxpayers to Participate in Voluntary Disclosure Program
"The California State Board of Equalization (BOE) today encouraged purchasers of tangible personal property who have not already paid tax on these purchases to register with the BOE for the In-State Voluntary Disclosure Program (VDP) to pay their use tax.
Generally, use tax applies when a person or business in California purchases tangible merchandise from a retailer outside of this state that will be used, consumed, given away, or stored in this state and the retailer does not collect California tax on their sales.
The benefit of the VDP is that it allows taxpayers to report and pay their use tax liability subject to a three-year statute of limitations." ...
for the complete announcement
Green building impacts
from Associated Construction Publications (1/13):
Message to the Transition: Green Building Creates Jobs, Saves Energy and Saves Money
-- Associated Construction Publications, 1/13/2009
USGBC Advances Green Building as Essential to Economic Recovery
Facing an unrivaled financial crisis, President-Elect Obama and the new 111th Congress have been moving quickly and decisively to develop a plan to revive the economy through swift passage of the single largest economic recovery package in U.S. history. With a commitment to transformative change aimed at catapulting the U.S. into a position of leadership in the new green economy, the incoming administration plans to make a significant down payment on major green initiatives that will spur innovation, put money back into the wallets of hard-working Americans, and create millions of green jobs, the USGBC notes in its January newsletter." ...
for the complete story
for the USGBC press release
Message to the Transition: Green Building Creates Jobs, Saves Energy and Saves Money
-- Associated Construction Publications, 1/13/2009
USGBC Advances Green Building as Essential to Economic Recovery
Facing an unrivaled financial crisis, President-Elect Obama and the new 111th Congress have been moving quickly and decisively to develop a plan to revive the economy through swift passage of the single largest economic recovery package in U.S. history. With a commitment to transformative change aimed at catapulting the U.S. into a position of leadership in the new green economy, the incoming administration plans to make a significant down payment on major green initiatives that will spur innovation, put money back into the wallets of hard-working Americans, and create millions of green jobs, the USGBC notes in its January newsletter." ...
for the complete story
for the USGBC press release
Hotel lenders conservative but open
from HNN (1/16):
Lenders conservative as capital trickles
16 January 2009 10:08 AM
By Patrick Mayock
"INTERNATIONAL REPORT—Despite a slowdown in capital markets across the globe, the spigot for hotel lending has not dried up completely. The right deals are still getting done, though the parameters in which they’re completed have become considerably more conservative.
“Deals are still being done,” said Rod Taylor, head of Hospitality & Tourism for Europe Arab Bank. “We need to keep this in mind. Banks are lending, (but) they’re not doing as many transactions. They’re being much more choosy in what they would do.”
That “choosy” standpoint reflects a shift in the lender mentality, he added. Whereas lenders used to proactively look for good deals, they’ve now taken a more reactive stance and let the deals come to them." ...
for the complete story
Lenders conservative as capital trickles
16 January 2009 10:08 AM
By Patrick Mayock
"INTERNATIONAL REPORT—Despite a slowdown in capital markets across the globe, the spigot for hotel lending has not dried up completely. The right deals are still getting done, though the parameters in which they’re completed have become considerably more conservative.
“Deals are still being done,” said Rod Taylor, head of Hospitality & Tourism for Europe Arab Bank. “We need to keep this in mind. Banks are lending, (but) they’re not doing as many transactions. They’re being much more choosy in what they would do.”
That “choosy” standpoint reflects a shift in the lender mentality, he added. Whereas lenders used to proactively look for good deals, they’ve now taken a more reactive stance and let the deals come to them." ...
for the complete story
CA Indian casino troubles
from the Sacramento Bee (1/19):
Tribal slots deal no jackpot for California
By Peter Hecht
phecht@sacbee.com
Published Monday, Jan. 19, 2009
"Second of two parts examining the effects of the economy on gambling in California.
As California government verges on going broke, one long-promised elixir – Indian casino gambling – is proving to be not such a sure bet.
Tribal revenue-sharing payments to the state will total a third less than expected this fiscal year and are expected to fall further short of projections for the following year, according to new state budget estimates.
The forecasts raise doubts about the anticipated windfall from Gov. Arnold Schwarzenegger's pursuit of new casino deals and unprecedented expansion of Indian gambling.
"It was oversold," said I. Nelson Rose, a Whittier College professor specializing in gambling law. "He (Schwarzenegger) thought the deals were good for the tribes and the state. But he was wrong in predicting the future. And the tribes were wrong, too."" ...
for the complete story
*******************
from the Sacramento Bee (1/18):
California's Indian casinos see gamblers spend less
by Mary Lynne Vellinga
Published Sunday, Jan. 18, 2009
"First of two parts examining the effects of the economy on gambling in California.
The four-story steel skeleton and idled cranes in back of Thunder Valley Casino in Placer County puncture any notion that the gambling business is recession-proof.
Construction stopped abruptly in December on the casino's $1 billion expansion. Its owner, the Auburn Indian Community, is reassessing whether it really needs a 23-story hotel, or a nine-story parking garage.
Thunder Valley representatives say the timeout has nothing to do with the December opening of the new, $530 million Red Hawk Casino on Highway 50 in Shingle Springs. Tribal spokesman Doug Elmets said construction will resume this spring, perhaps with minor modifications.
But there's no denying that the new competition comes at a bad time for Thunder Valley and other gambling venues." ...
for the complete story with map
Tribal slots deal no jackpot for California
By Peter Hecht
phecht@sacbee.com
Published Monday, Jan. 19, 2009
"Second of two parts examining the effects of the economy on gambling in California.
As California government verges on going broke, one long-promised elixir – Indian casino gambling – is proving to be not such a sure bet.
Tribal revenue-sharing payments to the state will total a third less than expected this fiscal year and are expected to fall further short of projections for the following year, according to new state budget estimates.
The forecasts raise doubts about the anticipated windfall from Gov. Arnold Schwarzenegger's pursuit of new casino deals and unprecedented expansion of Indian gambling.
"It was oversold," said I. Nelson Rose, a Whittier College professor specializing in gambling law. "He (Schwarzenegger) thought the deals were good for the tribes and the state. But he was wrong in predicting the future. And the tribes were wrong, too."" ...
for the complete story
*******************
from the Sacramento Bee (1/18):
California's Indian casinos see gamblers spend less
by Mary Lynne Vellinga
Published Sunday, Jan. 18, 2009
"First of two parts examining the effects of the economy on gambling in California.
The four-story steel skeleton and idled cranes in back of Thunder Valley Casino in Placer County puncture any notion that the gambling business is recession-proof.
Construction stopped abruptly in December on the casino's $1 billion expansion. Its owner, the Auburn Indian Community, is reassessing whether it really needs a 23-story hotel, or a nine-story parking garage.
Thunder Valley representatives say the timeout has nothing to do with the December opening of the new, $530 million Red Hawk Casino on Highway 50 in Shingle Springs. Tribal spokesman Doug Elmets said construction will resume this spring, perhaps with minor modifications.
But there's no denying that the new competition comes at a bad time for Thunder Valley and other gambling venues." ...
for the complete story with map
Tuesday, January 20, 2009
Aruba gives out free sand... a la Dubai
from Hotels (1/16):
Westin Aruba Offers 'Sand On Demand' For Meeting Attendees
The Westin Resort, Aruba -- Hotels, 1/16/2009 9:50:00 AM
"Palm Beach, Aruba –Catering to meeting attendees and business travelers who don’t get enough time on the beach, The Westin Resort, Aruba is now offering Sand on Demand. Available upon request, personal sand boxes will be delivered to the resort’s meeting rooms, or guest rooms, providing a touch point for attendees to feel the white sand Aruban beaches, while attending required meetings or working in their rooms." ...
for the complete story
Westin Aruba Offers 'Sand On Demand' For Meeting Attendees
The Westin Resort, Aruba -- Hotels, 1/16/2009 9:50:00 AM
"Palm Beach, Aruba –Catering to meeting attendees and business travelers who don’t get enough time on the beach, The Westin Resort, Aruba is now offering Sand on Demand. Available upon request, personal sand boxes will be delivered to the resort’s meeting rooms, or guest rooms, providing a touch point for attendees to feel the white sand Aruban beaches, while attending required meetings or working in their rooms." ...
for the complete story
Gen Y... again
from Hotels (1/16)
(De-)Generation Y
-- Hotels, 1/16/2009 9:27:00 AM
Contributed by Rocco Bova, executive assistant manager, food and beverage, The Aman New Delhi
"We hear about them and read about them - but what are we doing about Generation Y workers?
Consultants, research companies and leaders in our business are talking about this phenomenon. Fascinated by Generation Y workers"...
for the complete story
(De-)Generation Y
-- Hotels, 1/16/2009 9:27:00 AM
Contributed by Rocco Bova, executive assistant manager, food and beverage, The Aman New Delhi
"We hear about them and read about them - but what are we doing about Generation Y workers?
Consultants, research companies and leaders in our business are talking about this phenomenon. Fascinated by Generation Y workers"...
for the complete story
New hotels for French Polynesia
from Hotels (1/20):
South Pacific Mgmt. Adds Hotels In French Polynesia
-- Hotels, 1/20/2009 11:37:00 AM
"Papeete, Tahiti – South Pacific Management announces its delegation as the management company of three hotels on the islands of Tahiti, Moorea and Bora Bora, in French Polynesia, by Mr. Louis Wane of Société des Hôtels Tahitiens. The three existing hotels, under a Hilton franchise agreement, have been re-branded as the Hilton Hotel Tahiti, the Hilton Moorea Lagoon Resort & Spa and the Hilton Bora Bora Nui Resort & Spa." ...
for the complete story
South Pacific Mgmt. Adds Hotels In French Polynesia
-- Hotels, 1/20/2009 11:37:00 AM
"Papeete, Tahiti – South Pacific Management announces its delegation as the management company of three hotels on the islands of Tahiti, Moorea and Bora Bora, in French Polynesia, by Mr. Louis Wane of Société des Hôtels Tahitiens. The three existing hotels, under a Hilton franchise agreement, have been re-branded as the Hilton Hotel Tahiti, the Hilton Moorea Lagoon Resort & Spa and the Hilton Bora Bora Nui Resort & Spa." ...
for the complete story
Fujairah v Dubai -- who's hot and who's not
from the Kidderminster Shuttle (1/20):
Is Fujairah the new Dubai?
2:00pm Tuesday 20th January 2009
"THE Middle East is emerging as a winner in the battle for holiday cash.
Traditional holiday destinations are falling out of favour with the UK tourist as the weak pound hits their budget.
As people ditch the Euro and the US dollar, Rotana predicts an explosion in visitor numbers to the Middle East in 2009.
But as Brits begin planning their 2009 sunshine breaks in the Middle East, it’s not necessarily Dubai that’s at the top of their wish list. Rotana is seeing a rise in interest from UK customers in its more ‘off-the-beaten-track’, lesser known destinations, including Fujairah (UAE), Beirut (Lebanon) and Latakia and Homs (Syria)." ...
for the complete story
Is Fujairah the new Dubai?
2:00pm Tuesday 20th January 2009
"THE Middle East is emerging as a winner in the battle for holiday cash.
Traditional holiday destinations are falling out of favour with the UK tourist as the weak pound hits their budget.
As people ditch the Euro and the US dollar, Rotana predicts an explosion in visitor numbers to the Middle East in 2009.
But as Brits begin planning their 2009 sunshine breaks in the Middle East, it’s not necessarily Dubai that’s at the top of their wish list. Rotana is seeing a rise in interest from UK customers in its more ‘off-the-beaten-track’, lesser known destinations, including Fujairah (UAE), Beirut (Lebanon) and Latakia and Homs (Syria)." ...
for the complete story
Warner Bros cuts
from the San Fernando Valley Business Journal (1/20):
Warner Bros. Entertainment Cutting 800 Jobs
By - 1/20/2009
San Fernando Valley Business Journal Staff
"Warner Bros. Entertainment Inc. will eliminate about 10 percent of its worldwide workforce through layoffs, freezing positions and outsourcing." ...
for the complete story
Warner Bros. Entertainment Cutting 800 Jobs
By - 1/20/2009
San Fernando Valley Business Journal Staff
"Warner Bros. Entertainment Inc. will eliminate about 10 percent of its worldwide workforce through layoffs, freezing positions and outsourcing." ...
for the complete story
Thursday, January 15, 2009
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