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
Wednesday, January 28, 2009
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
Wednesday, January 14, 2009
Calgary wishing for modern art gallery
from the Calgary herald (1/14):
Calls for new public art gallery renewed
Glenbow woes spark interest
By Nancy Tousley, Calgary HeraldJanuary 14, 2009
"Jeffrey Spalding's sudden departure from the Glen-bow Museum has rekindled a long-held desire to establish a free-standing public art gallery in Calgary and initiated discussions about the Glenbow's future role.
Talk about the city's need for a public gallery dedicated to modern and contemporary art began almost immediately in response to the museum's announcement Friday that Spalding had left his position as president and CEO after not quite 13 months on the job." ...
for the complete story
Calls for new public art gallery renewed
Glenbow woes spark interest
By Nancy Tousley, Calgary HeraldJanuary 14, 2009
"Jeffrey Spalding's sudden departure from the Glen-bow Museum has rekindled a long-held desire to establish a free-standing public art gallery in Calgary and initiated discussions about the Glenbow's future role.
Talk about the city's need for a public gallery dedicated to modern and contemporary art began almost immediately in response to the museum's announcement Friday that Spalding had left his position as president and CEO after not quite 13 months on the job." ...
for the complete story
Boulder City (CO) kills mixed use project as too tall
from the Daily Camera (CO) (!/12);
Mixed-use project nixed
Boulder City Council rejects four-story building on Canyon
By Ryan Morgan
Tuesday, January 13, 2009
"The Boulder City Council on Tuesday night said “no” to a proposal for a 54-foot-tall building at 1580 Canyon Blvd., which would have been the first four-story building on the south side of the street." ...
Developers wanted to put the building — with 14 condos and 3,000 square feet of retail space" ...
for the complete story
Mixed-use project nixed
Boulder City Council rejects four-story building on Canyon
By Ryan Morgan
Tuesday, January 13, 2009
"The Boulder City Council on Tuesday night said “no” to a proposal for a 54-foot-tall building at 1580 Canyon Blvd., which would have been the first four-story building on the south side of the street." ...
Developers wanted to put the building — with 14 condos and 3,000 square feet of retail space" ...
for the complete story
MA plans for wind power
from the Berkshire Eagle (MA) (1/14):
Patrick unveils big push for wind power
The Associated Press
Updated: 01/14/2009 08:26:05 AM EST
"BOSTON (AP) — Wind turbines would increasingly dot the Massachusetts landscape under a plan unveiled by Gov. Deval Patrick to ramp up the state's reliance on wind power over the next dozen years.
Patrick said Tuesday he wants the state to be producing 2,000 megawatts of wind electricity annually by 2020, enough to power 800,000 homes — or about 10 percent of the state's current energy needs. The state has just nine major wind turbines now, producing less than seven megawatts of power annually." ...
for the complete story
Patrick unveils big push for wind power
The Associated Press
Updated: 01/14/2009 08:26:05 AM EST
"BOSTON (AP) — Wind turbines would increasingly dot the Massachusetts landscape under a plan unveiled by Gov. Deval Patrick to ramp up the state's reliance on wind power over the next dozen years.
Patrick said Tuesday he wants the state to be producing 2,000 megawatts of wind electricity annually by 2020, enough to power 800,000 homes — or about 10 percent of the state's current energy needs. The state has just nine major wind turbines now, producing less than seven megawatts of power annually." ...
for the complete story
San Francisco BART cutting service upping fares and fees
from the San Francisco Chronicle (1/14):
BART looks at cuts, higher fares and lot fees
Rachel Gordon, Chronicle Staff Writer
Wednesday, January 14, 2009
"BART officials, faced with a projected budget shortfall of up to $92 million over the next 18 months, warn that service cuts and higher fares may be imposed later this year to balance the budget.
Commuters also may pay more for parking at station lots and see their trains wrapped in advertising, in effect turning them into moving billboards." ...
for the complete story
BART looks at cuts, higher fares and lot fees
Rachel Gordon, Chronicle Staff Writer
Wednesday, January 14, 2009
"BART officials, faced with a projected budget shortfall of up to $92 million over the next 18 months, warn that service cuts and higher fares may be imposed later this year to balance the budget.
Commuters also may pay more for parking at station lots and see their trains wrapped in advertising, in effect turning them into moving billboards." ...
for the complete story
International hotel revPAR and ADR figures down
from HNN (1/14):
November Hotel Numbers Reflect Slowdown
STR Global -- Hotels, 1/14/2009 12:39:00 PM
"LONDON and HENDERSONVILLE, Tennessee—The global economic slowdown is having an impact on the hotel industry based on the world’s four regions reporting mixed year-over-year results when reported in U.S. dollars, euros and British pounds for November 2008, according to data compiled from STR Global." ...
for the complete story with data tables
November Hotel Numbers Reflect Slowdown
STR Global -- Hotels, 1/14/2009 12:39:00 PM
"LONDON and HENDERSONVILLE, Tennessee—The global economic slowdown is having an impact on the hotel industry based on the world’s four regions reporting mixed year-over-year results when reported in U.S. dollars, euros and British pounds for November 2008, according to data compiled from STR Global." ...
for the complete story with data tables
Milwaukee loses Palomar condo hotel project
from the Milwaukee Journal Sentinel (1/13):
$150 million Palomar plan included hotel, high-end condos
By Tom Daykin of the Journal Sentinel
Posted: Jan. 13, 2009
"Efforts to transform the moonscape of Milwaukee's Park East area into condos, hotels and stores took a giant leap backward Tuesday, with Gatehouse Capital Corp. dropping its $150 million Palomar project.
The proposed development, featuring 66 high-end condos and a 175-room Kimpton Palomar Hotel, was planned for a county-owned lot" ...
for the complete story with graphics and map
$150 million Palomar plan included hotel, high-end condos
By Tom Daykin of the Journal Sentinel
Posted: Jan. 13, 2009
"Efforts to transform the moonscape of Milwaukee's Park East area into condos, hotels and stores took a giant leap backward Tuesday, with Gatehouse Capital Corp. dropping its $150 million Palomar project.
The proposed development, featuring 66 high-end condos and a 175-room Kimpton Palomar Hotel, was planned for a county-owned lot" ...
for the complete story with graphics and map
Galveston Island to get Las Vegas casinos?
from ABC local (Houston) (1/13):
Is now the time for gambling in Texas?
Tuesday, January 13, 2009 | 6:48 PM
Miya Shay and Ted Oberg
"GALVESTON, TX (KTRK) -- Las Vegas style gambling casinos could be in the future for Galveston Island. Hurricane Ike devastated Galveston County, but is gambling the push the economy there needs?" ....
for the complete story
Is now the time for gambling in Texas?
Tuesday, January 13, 2009 | 6:48 PM
Miya Shay and Ted Oberg
"GALVESTON, TX (KTRK) -- Las Vegas style gambling casinos could be in the future for Galveston Island. Hurricane Ike devastated Galveston County, but is gambling the push the economy there needs?" ....
for the complete story
Harrrah's NC cuts jobs continues expansion plans
from digtriad (NC) (1/13):
Don't Bet on a Job in Cherokee
Harrah's Cherokee Casino to cut 100 jobs in NC
"Cherokee, N.C. -- Harrah's Cherokee Casino and Hotel will eliminate nearly 100 jobs because the slumping economy has meant fewer visitors traveling into the North Carolina mountains to gamble." ...
for the complete story
Don't Bet on a Job in Cherokee
Harrah's Cherokee Casino to cut 100 jobs in NC
"Cherokee, N.C. -- Harrah's Cherokee Casino and Hotel will eliminate nearly 100 jobs because the slumping economy has meant fewer visitors traveling into the North Carolina mountains to gamble." ...
for the complete story
Asheville (NC) to get new arts complex
from the Asheville Citizen Times (1/14):
Council OKs new arts center
Scales back project size, cost
Joel Burgess
"One of the city's poorer areas will get a new arts center — albeit a scaled-back version of what supporters had originally hoped.
City Council on Tuesday approved the construction of a $2 million center on the site of a softball field on Livingston and Depot streets. The 7,500-square-foot center will feature an auditorium and facilities that emphasize cultural arts, said W. LaVone Griffin, director of the area's current cultural arts and after-school program facility, the W.C. Reid Center." ...
for the complete story
Council OKs new arts center
Scales back project size, cost
Joel Burgess
"One of the city's poorer areas will get a new arts center — albeit a scaled-back version of what supporters had originally hoped.
City Council on Tuesday approved the construction of a $2 million center on the site of a softball field on Livingston and Depot streets. The 7,500-square-foot center will feature an auditorium and facilities that emphasize cultural arts, said W. LaVone Griffin, director of the area's current cultural arts and after-school program facility, the W.C. Reid Center." ...
for the complete story
Beloit (WI) tribal casino turned down by BIA
from WCLO (WI) (1/14):
Tribes hold out hope for Beloit project
by ANN MARIE AMES ( Contact ) Wednesday, Jan. 14, 2009
WCLO.com
"BELOIT — A spokesman for the Beloit Casino project said he's so mad he could spit.
And a federal legislator said the application is a victim of "personal bias."
The U.S. Bureau of Indian Affairs on Tuesday denied an application to develop a tribal casino at Beloit. It's the second time in a week that the federal government rejected proposals for off-reservation gambling projects in southern Wisconsin.
The Bad River and St. Croix Chippewa bands of northern Wisconsin made the application to develop a casino complex in Beloit. The four-page letter of denial cited "serious and far-reaching implications" for the residents of the reservations if large numbers leave the reservation to work at the casino." ...
for the complete story
Tribes hold out hope for Beloit project
by ANN MARIE AMES ( Contact ) Wednesday, Jan. 14, 2009
WCLO.com
"BELOIT — A spokesman for the Beloit Casino project said he's so mad he could spit.
And a federal legislator said the application is a victim of "personal bias."
The U.S. Bureau of Indian Affairs on Tuesday denied an application to develop a tribal casino at Beloit. It's the second time in a week that the federal government rejected proposals for off-reservation gambling projects in southern Wisconsin.
The Bad River and St. Croix Chippewa bands of northern Wisconsin made the application to develop a casino complex in Beloit. The four-page letter of denial cited "serious and far-reaching implications" for the residents of the reservations if large numbers leave the reservation to work at the casino." ...
for the complete story
Canadian arts funding to continue
from the Globe and Mail (1/13):
FEDERAL BUDGET: NO CUTS TO CBC
Arts funding is safe, Moore says
On a cross-country tour of arts institutions, the new Heritage Minister says Tories will support cultural mainstays because 'they're so hard to build'
JAMES BRADSHAW
January 13, 2009
"Two weeks before a hotly anticipated federal budget, Canadian Heritage Minister James Moore is preaching sustained cultural funding, saying the CBC's budget is safe and the Conservatives intend to deliver on their election promises despite the financial downturn." ...
for the complete
FEDERAL BUDGET: NO CUTS TO CBC
Arts funding is safe, Moore says
On a cross-country tour of arts institutions, the new Heritage Minister says Tories will support cultural mainstays because 'they're so hard to build'
JAMES BRADSHAW
January 13, 2009
"Two weeks before a hotly anticipated federal budget, Canadian Heritage Minister James Moore is preaching sustained cultural funding, saying the CBC's budget is safe and the Conservatives intend to deliver on their election promises despite the financial downturn." ...
for the complete
Le Musee de la Civilisation (Quebec) garnered crowds
from the Canadian Museum Association news briefs (1/13):
Le Musee de la Civilisation in Quebec received 621,000 visitors to its Gold in the Americas exhibit from April 20, 2008 through January 11, 2009.
for more info on the exhibit
Le Musee de la Civilisation in Quebec received 621,000 visitors to its Gold in the Americas exhibit from April 20, 2008 through January 11, 2009.
for more info on the exhibit
Monday, January 12, 2009
Stadium debt assumed by San Diego
from the San Diego Business Journal (1/12):
CCDC Assumes Bond Payments for Petco Park
By MIKE ALLEN - 1/12/2009
San Diego Business Journal Staff
"The city of San Diego isn’t immune to the growing list of government entities and industries looking for a bailout, and it received one of sorts last week when the Centre City Development Corp. agreed to assume bond payments for Petco Park for five years.
The CCDC serves as the city’s official redevelopment agency and oversees downtown redevelopment projects.
The ballpark payments will last only five years, and total $56.6 million. About $153 million is outstanding on the bond balance from the $169 million issued in 2002, and refinanced in 2007." ...
for the complete story
CCDC Assumes Bond Payments for Petco Park
By MIKE ALLEN - 1/12/2009
San Diego Business Journal Staff
"The city of San Diego isn’t immune to the growing list of government entities and industries looking for a bailout, and it received one of sorts last week when the Centre City Development Corp. agreed to assume bond payments for Petco Park for five years.
The CCDC serves as the city’s official redevelopment agency and oversees downtown redevelopment projects.
The ballpark payments will last only five years, and total $56.6 million. About $153 million is outstanding on the bond balance from the $169 million issued in 2002, and refinanced in 2007." ...
for the complete story
Biomed lab approved for San Diego
from the San Diego Business Journal (1/12):
Stem Cell Research Lab OK’d
By HEATHER CHAMBERS - 1/12/2009
San Diego Business Journal Staff
"The California Coastal Commission issued final approvals last week to build a $115 million, four-story stem cell research lab on Torrey Pines Mesa in La Jolla.
A permit from the commission will allow the Sanford Consortium for Regenerative Medicine — a group made up of the Burnham Institute for Medical Research, UC San Diego, Salk Institute and The Scripps Research Institute — to move forward with plans to build a 135,000-square-foot facility on North Torrey Pines Road.
It will be the nation’s first facility of its kind where scientists and other collaborators come together to advance the pace of stem cell research." ...
for the complete story
Stem Cell Research Lab OK’d
By HEATHER CHAMBERS - 1/12/2009
San Diego Business Journal Staff
"The California Coastal Commission issued final approvals last week to build a $115 million, four-story stem cell research lab on Torrey Pines Mesa in La Jolla.
A permit from the commission will allow the Sanford Consortium for Regenerative Medicine — a group made up of the Burnham Institute for Medical Research, UC San Diego, Salk Institute and The Scripps Research Institute — to move forward with plans to build a 135,000-square-foot facility on North Torrey Pines Road.
It will be the nation’s first facility of its kind where scientists and other collaborators come together to advance the pace of stem cell research." ...
for the complete story
San Diego retail space
from the San Diego Business Journal (1/12):
Closing Up Shop
By MICHELLE MOWAD - 1/12/2009
San Diego Business Journal Staff
"With major retailers closing their doors in the past few months and more expected to follow in 2009, commercial brokers are scrambling to fill storefronts left empty at area shopping malls.
Bruce Schiff, a broker in the Carlsbad office of Grubb & Ellis|BRE Commercial, said 2009 will be a tough year, given that more store operators are expected to close and file bankruptcy in the wake of the worst holiday shopping season in decades.
Of the 137 million square feet of retail space in the county, 4.6 million square feet was available for lease as of Sept. 30, a number that is expected to increase in 2009." ....
for the complete story
Closing Up Shop
By MICHELLE MOWAD - 1/12/2009
San Diego Business Journal Staff
"With major retailers closing their doors in the past few months and more expected to follow in 2009, commercial brokers are scrambling to fill storefronts left empty at area shopping malls.
Bruce Schiff, a broker in the Carlsbad office of Grubb & Ellis|BRE Commercial, said 2009 will be a tough year, given that more store operators are expected to close and file bankruptcy in the wake of the worst holiday shopping season in decades.
Of the 137 million square feet of retail space in the county, 4.6 million square feet was available for lease as of Sept. 30, a number that is expected to increase in 2009." ....
for the complete story
Orange County (CA) luxury hotels facing meetings slump
from the Orange County Business Journal (1/12):
Luxury Hotels Cut Workers as Meetings, Travelers Dip
By Michael Volpe - 1/12/2009
Orange County Business Journal Staff
"The county’s luxury coastal hotels have laid off workers and made other cuts amid a downturn in visitors and corporate events that is shaping up to be worse than after the terrorist attacks of 2001.
The hotels, which overlook the ocean and charge $400 to thousands of dollars a night, have laid off or not hired as planned an estimated 550 workers, according to hotel operators and market watchers." ...
for the complete story
Luxury Hotels Cut Workers as Meetings, Travelers Dip
By Michael Volpe - 1/12/2009
Orange County Business Journal Staff
"The county’s luxury coastal hotels have laid off workers and made other cuts amid a downturn in visitors and corporate events that is shaping up to be worse than after the terrorist attacks of 2001.
The hotels, which overlook the ocean and charge $400 to thousands of dollars a night, have laid off or not hired as planned an estimated 550 workers, according to hotel operators and market watchers." ...
for the complete story
Midway airport privatization deal slowed
from Crain's Chicago Business (1/12):
FAA delays Midway privatization approval
By: John Pletz Jan. 12, 2009
"(Crain’s) — The Federal Aviation Administration’s approval of the privatization of Midway Airport has been delayed because the new operator still is negotiating some financial agreements." ...
for the complete story
FAA delays Midway privatization approval
By: John Pletz Jan. 12, 2009
"(Crain’s) — The Federal Aviation Administration’s approval of the privatization of Midway Airport has been delayed because the new operator still is negotiating some financial agreements." ...
for the complete story
Sunday, January 11, 2009
Sacramento approves new lifestyle center
from the Sacramento Bee (1/10):
City set to approve big development in south Sacramento
Mary Lynne Vellinga
Published Saturday, Jan. 10, 2009
"The city of Sacramento is poised to approve a huge new shopping center just a few miles from the Elk Grove shopping center where construction has stalled.
City Council members are scheduled to vote Tuesday on Delta Shores, a new community with about 5,000 housing units and 1.3 million square feet of retail – the equivalent of an Arden Fair mall.
The retailers would not be housed under one roof, but instead would be grouped together in trendy "lifestyle center" fashion, similar to the new Natomas Promenade in North Natomas. The center would include a multiplex cinema." ...
for the complete story
City set to approve big development in south Sacramento
Mary Lynne Vellinga
Published Saturday, Jan. 10, 2009
"The city of Sacramento is poised to approve a huge new shopping center just a few miles from the Elk Grove shopping center where construction has stalled.
City Council members are scheduled to vote Tuesday on Delta Shores, a new community with about 5,000 housing units and 1.3 million square feet of retail – the equivalent of an Arden Fair mall.
The retailers would not be housed under one roof, but instead would be grouped together in trendy "lifestyle center" fashion, similar to the new Natomas Promenade in North Natomas. The center would include a multiplex cinema." ...
for the complete story
Friday, January 9, 2009
L.A. annouces new tourism development plan
press release from the L.A. Office of the Mayor (1/9):
MAYOR VILLARAIGOSA ROLLS OUT ‘THAT’S SO LA’ – A NEW MARKETING AND TOURISM CAMPAIGN
Mayor, LA INC. will launch an effort to expand City’s second-largest industry, create jobs, and attract visitors to top local landmarks
"HOLLYWOOD – Mayor Antonio Villaraigosa joined Council President Eric Garcetti, Councilmembers Janice Hahn and Tom LaBonge, Universal Studios President Larry Kurzweil and Mark Liberman, CEO of LA INC. The Los Angeles Convention and Visitors Bureau today to roll out “That’s So LA” – a new marketing campaign designed to attract visitors to top local landmarks, expand the tourism industry, and create good-paying jobs for LA’s workers." ...
for a copy of the entire release, contact Ruth.
MAYOR VILLARAIGOSA ROLLS OUT ‘THAT’S SO LA’ – A NEW MARKETING AND TOURISM CAMPAIGN
Mayor, LA INC. will launch an effort to expand City’s second-largest industry, create jobs, and attract visitors to top local landmarks
"HOLLYWOOD – Mayor Antonio Villaraigosa joined Council President Eric Garcetti, Councilmembers Janice Hahn and Tom LaBonge, Universal Studios President Larry Kurzweil and Mark Liberman, CEO of LA INC. The Los Angeles Convention and Visitors Bureau today to roll out “That’s So LA” – a new marketing campaign designed to attract visitors to top local landmarks, expand the tourism industry, and create good-paying jobs for LA’s workers." ...
for a copy of the entire release, contact Ruth.
International museum finance crisis
from CBC News (Canada) (1/8):
U.S. museums facing deep cuts because of economic crisis
Last Updated: Thursday, January 8, 2009 | 12:46 PM ET
"The financial crisis has cut deeply into the budgets of major art institutions, especially those in the U.S., which rely mainly on their endowments and private donations.
A survey of 40 museums in the U.S. by the Art Newspaper has shown that many institutions have lost 20 per cent of the value of their endowments.
A majority of these institutions were looking at between a five and 20 per cent cut to their 2009 budgets, with even more cuts looming in 2010." ...
for the complete story
*************
from the Art Newspaper (1/8):
Museums make deep cuts in face of global financial crisis
US budgets slashed, programming reduced and expansions halted
By Jason Edward Kaufman | From News | Posted: 8.1.09
"NEW YORK. A survey of art museums across the US has found that most institutions have lost at least 20% of the value of their endowments and directors are retrenching amid the worsening economic crisis. The survey of around 40 museums, conducted by The Art Newspaper in early December, revealed that nearly all directors had begun trimming between 5% and 20% of their 2009 budgets and were preparing for deeper cuts in 2010.
The Guggenheim Museum has cut 10% of its operating budget, the Denver Art Museum plans up to a 15% reduction, and the Los Angeles County Museum of Art (Lacma) initiated a staff freeze and cut back on travel. “We are looking hard at every single line item and squeezing nickels,” says MassMoCA director Joseph Thompson, who has trimmed expenses and programming by around 8% and has plans that could involve staff reductions by mid year.
Even the richest museums are not immune to the effects of the downturn, but directors expressed confidence that they can weather the crisis without massive lay-offs and drastic reductions in programming." ...
for the complete story
**************
from the Art Newspaper (1/8):
How the richest US museums are weathering the storm
By Jason Edward Kaufman | From News | Posted: 8.1.09
"The Getty Trust president James Wood says its endowment has fallen by 25% from the $5.98bn reported on 30 June 2008—a $1.5bn loss—and that despite having made budget reductions and lay-offs last May before the downturn, he has imposed a freeze on hiring and warned that the fiscal year 2010 budget will “significantly reduce spending, which will have an impact on staffing, programming, and operations”.
The Metropolitan Museum’s endowment had declined over the year ending 30 June 2008 when it was $2.9bn. If the portfolio tracked the market, since then the museum has lost nearly three quarters of a billion dollars, and funding from New York City, $26.8m this year, has already been trimmed 2.5% with additional 4% and 7% cuts announced for 2010. “We are reviewing carefully all of our expenses, as well as ways to generate revenue,” says a spokeswoman." ....
for the complete story listing the specifics of how museums are coping
***********
from the Art Newspaper (1/7):
“Catastrophe” for Vienna’s Albertina
By Martin Bailey | From News | Posted: 7.1.09
"VIENNA. Albertina director Dr Klaus Albrecht Schröder told The Art Newspaper that the financial crisis has been a “catastrophe” for his museum. In the past few weeks it has lost well over €2m in support." ...
for the complete story
*************
from the Chicago Sun Times (1/7) (courtesy of Melissa):
Market takes bite out of Field Museum
LAYOFFS, PAY CUTS | Endowment drops $95 million, big fossil debut scrapped
January 7, 2009
BY ANDREW HERRMANN AND DAVE NEWBART Staff reporters
"The tanking stock market has hit the Field Museum's endowment, which has dropped about $95 million -- 30 percent -- leading to salary cuts, layoffs and buyout offers to scientists and other employees.
While most of the planned upcoming exhibits will be presented as scheduled, financial belt-tightening contributed to the museum's decision not to present Lucy, a 3.2 million-year-old fossil of an ape-man species that was to debut here this fall, Field president John McCarter said Tuesday." ...
for the complete story
U.S. museums facing deep cuts because of economic crisis
Last Updated: Thursday, January 8, 2009 | 12:46 PM ET
"The financial crisis has cut deeply into the budgets of major art institutions, especially those in the U.S., which rely mainly on their endowments and private donations.
A survey of 40 museums in the U.S. by the Art Newspaper has shown that many institutions have lost 20 per cent of the value of their endowments.
A majority of these institutions were looking at between a five and 20 per cent cut to their 2009 budgets, with even more cuts looming in 2010." ...
for the complete story
*************
from the Art Newspaper (1/8):
Museums make deep cuts in face of global financial crisis
US budgets slashed, programming reduced and expansions halted
By Jason Edward Kaufman | From News | Posted: 8.1.09
"NEW YORK. A survey of art museums across the US has found that most institutions have lost at least 20% of the value of their endowments and directors are retrenching amid the worsening economic crisis. The survey of around 40 museums, conducted by The Art Newspaper in early December, revealed that nearly all directors had begun trimming between 5% and 20% of their 2009 budgets and were preparing for deeper cuts in 2010.
The Guggenheim Museum has cut 10% of its operating budget, the Denver Art Museum plans up to a 15% reduction, and the Los Angeles County Museum of Art (Lacma) initiated a staff freeze and cut back on travel. “We are looking hard at every single line item and squeezing nickels,” says MassMoCA director Joseph Thompson, who has trimmed expenses and programming by around 8% and has plans that could involve staff reductions by mid year.
Even the richest museums are not immune to the effects of the downturn, but directors expressed confidence that they can weather the crisis without massive lay-offs and drastic reductions in programming." ...
for the complete story
**************
from the Art Newspaper (1/8):
How the richest US museums are weathering the storm
By Jason Edward Kaufman | From News | Posted: 8.1.09
"The Getty Trust president James Wood says its endowment has fallen by 25% from the $5.98bn reported on 30 June 2008—a $1.5bn loss—and that despite having made budget reductions and lay-offs last May before the downturn, he has imposed a freeze on hiring and warned that the fiscal year 2010 budget will “significantly reduce spending, which will have an impact on staffing, programming, and operations”.
The Metropolitan Museum’s endowment had declined over the year ending 30 June 2008 when it was $2.9bn. If the portfolio tracked the market, since then the museum has lost nearly three quarters of a billion dollars, and funding from New York City, $26.8m this year, has already been trimmed 2.5% with additional 4% and 7% cuts announced for 2010. “We are reviewing carefully all of our expenses, as well as ways to generate revenue,” says a spokeswoman." ....
for the complete story listing the specifics of how museums are coping
***********
from the Art Newspaper (1/7):
“Catastrophe” for Vienna’s Albertina
By Martin Bailey | From News | Posted: 7.1.09
"VIENNA. Albertina director Dr Klaus Albrecht Schröder told The Art Newspaper that the financial crisis has been a “catastrophe” for his museum. In the past few weeks it has lost well over €2m in support." ...
for the complete story
*************
from the Chicago Sun Times (1/7) (courtesy of Melissa):
Market takes bite out of Field Museum
LAYOFFS, PAY CUTS | Endowment drops $95 million, big fossil debut scrapped
January 7, 2009
BY ANDREW HERRMANN AND DAVE NEWBART Staff reporters
"The tanking stock market has hit the Field Museum's endowment, which has dropped about $95 million -- 30 percent -- leading to salary cuts, layoffs and buyout offers to scientists and other employees.
While most of the planned upcoming exhibits will be presented as scheduled, financial belt-tightening contributed to the museum's decision not to present Lucy, a 3.2 million-year-old fossil of an ape-man species that was to debut here this fall, Field president John McCarter said Tuesday." ...
for the complete story
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