Business travel was in the doldrums along with the economy for a while but it seems that we will be seeing more business people taking to the road once again.
With business travel under 2% growth for the year 2012 according to the Global business travel association, airlines, hotels and convention centers were all affected negatively. Business travel is expected to see over a 5% increase in growth this year and many businesses are looking to make that money spent more productive that in years past. The ‘three martini get he deal closed half in the bag’ lunch has been replaced with more conventional meetings at a variety of clients in the same city and more is being accomplished during these business trips for that very reason.
This change in business travel is also making life better for convention management companies as they are able to plan better due to fewer last minute bookings as planning is well ahead of schedule and also are able to go back to the larger venues that they have used in the past; more attendees mean mean larger venues and the larger budget allows for more perks at the conventions.
Business travel is no longer a buyers market.
Hotels in convention areas will also benefit as they are not only filling up more they are also able to charge a premium for their rooms. Supply and demand for premium rooms, reservations at the better restaurants and car rentals are all heavily supported by this mini boom in business travel and the benefit trickles down into the service sector in the employment industry as well.
Can Blackstone Group, a private equity firm, really by Dell Inc with it’s 14.25 bid? Seems there is more to it than what meets the eye as Blackstone Group is still seeking the money to support that bid in the form of partnerships. Same can be said for Carl Icahn’s bid for Dell Inc.
Michael Dell, the founder of Dell Inc, is not entirely behind Blackstone’s bid either as it seems he prefers a bid by Silver Lake Partners @ 13.65 per share to take Dell Inc private and Silver Lake is already funded which surely gives them the edge in this highly watched take over situation. Southeastern Asset Management is Dell’s largest shareholder and that group likes and supports both Icahn and Blackstone but without financial partners those two entities may both be dead in the water.
The biggest question mark in this whole scenario is whether Blackstone or Icahn can turn Dell Inc back into the cash cow it once was and that will not be an easy trick to pull out of their hats.
New Zealand’s Junior Golfer, Lydia Ko, left another $43,000.00 on the table in Mission Hills, California last weekend. The amateur golfer, who moved to New Zealand as a child to pursue a career on the LPGA tour, ended up at 2 under for the season’s first major on the LPGA tour and was thrilled to have placed in the top 25.
Among other titles, Ko, just 15 years old, won the Canadian Open which, if she were a professional as opposed to an amateur, would have paid her a whopping $300,000.00. For most of us that would be tough to let slide. Foregoing all these winnings is not an issue with Ko and her parents as they see the bigger picture for her long term career and expects to have a long and health life on the world’s largest stage for a professional lady golfer.
Golf Week Amateur Rankings
On the Golf Week Amateur Rankings, Ko is holding strong to the top spot with American, Ashlan Ramsey, The Silent Assassin, nipping at her heels in second place. Ramsey also Continue reading Lydia Ko Leaves Forty Thousand Dollars on The Table at The Kraft Nabisco
The latest unemployment numbers are astonishingly bad as over 500,000 people have stopped looking for jobs, 88,000 have only been added to the employment rolls and unemployment is up to 7.6% nationwide.
Although the employment figures were expected to be much better than those unfortunately what actually happened is something that could affect the US economy in a very bad way as many people have just plain given up looking for work.
President Obama’s plan to increase the amount of available Continue reading 500,000 Stop Looking For Jobs and Unemployment Rate Worsens
Lots of movement and activity in the sports world and with Robinson Cano of the New York Yankees canning Scott Boras and replacing him with Jay-z, the music icon and sports agent. The news surprised many and comes with Cano about to negotiate a new multi-year contract with the Yankees that should top 100 Million Dollars.
Darrius Heyward-Bey, the underachieving receiver, signed a one year deal that could max out at 3 Million Dollars with the Indianapolis Colts. The deal only guarantees about half that Continue reading Robinson Cano Hires Jay Z; Plaxico Burris More Troubles
Dell, the most prolific manufacturers of computers in the USA, is kicking around how to go private in a 274 page filing with the Securities and Exchange Commission (SEC). The acquisition would be a whopping 24.4 Billion Dollar Deal and is the largest of it’s kind just ahead of Berkshire Hathaway’s acquisition of Heinz.
With sales in the computer industry slowing and the trend for computer sales not expected to pick up, Dell has been fighting tooth and nail for an ever decreasing market share. The offer to go private, financed by Chief Executive and Founder Michael Dell along with Silver Lake Partners is actually Continue reading Computer Giant Dell to Go Private?
Home ownership restrictions are now in place in China to help curb what could be a property market bubble situation. Fearing a problem with home prices increasing too quickly, Beijing put a limit on single people to only own one home in their local areas as well as increasing the required down payment for second homes for all people. Shanghai is also planning on raising interest rates for second home buyers in addition to Continue reading China Fears Property Market Bubble
The tale of two conglomerates going in different directions showed up in drastic salary adjustments for 2 CEOs. While Larry Merlo, the CEO of CVS Drug Stores, got a 44% increase to 20.3 million dollars a year, the beleaguered CEO of Sears, Louis D’Ambrosio took a hit to the tune of a 90% pay cut down to $1.3 Million per filings with the Security and Exchange Commission (SEC). Sears lost close to 500 Million Dollars Continue reading CVS and Sears Both Adjust Chief Executive Officers Pay