Word: discounting
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...Tiffany Richards, the company's president, says that roughly 30 of the firm's 1,200 bookings since January have taken advantage of this promotion. She adds that the discount brings the price of a 15-day trip to Morocco to $722.50 from $850, not including airfare. "For people who are in between jobs and maybe a little nervous about money, this kind of savings could be the difference between staying home and getting to see the world," she says...
...those in the tourism industry, discussing restrictions simply doesn't fly. The world travel sector is already experiencing its first contraction since 2003, when the outbreak of SARS in Asia decimated tourism revenues. Michael O'Leary, chief executive of discount airline RyanAir, drew criticism on Tuesday for publicly suggesting that only the world's poorest people will succumb to swine flu, despite the fact that two middle-class Scottish newlyweds have been isolated in a hospital for several days after having tested positive for the H1N1 virus. "It is a tragedy only for people living in slums in Asia...
...Journal has reported that Citigroup (C) and Bank of America (BAC) have done poorly on their "stress tests". Each bank may be encouraged to raise more capital. As a number of analysts have pointed out, private equity has no interest in stakes in troubled banks even at a steep discount to their current market values. To help improve banks' capital bases, the Administration will almost certainly have to take the money it has given and is about to give to banks, and convert it into common stock. That will crush current shareholders and it will create the problem...
...rush "is reminiscent of what we saw during the downturn in 2001," with employees suddenly acting on perks they may have forgotten were on offer. Katarina, who lost her marketing job with a cosmetics firm in Frankfurt, joined a gym before her last day to secure a corporate discount, which saves her $40 a month. "I've been unemployed for the past month but my gym membership is still the rate of a working person's," she says...
...recession deepens, luxury sales are moving into the discount arena, especially online. Since 2007, no fewer than five high-end e-tailers, including gilt groupe and ideeli, have opened shop as members-only discount sites that offer VIP-style sample sales at outlet prices. But the fashion site making the most waves these days is a new online outlet cleverly named theOutnet.com. Opened to the public on April 16, theOutnet - the latest hot spot created by net-a-porter.com founder Natalie Massenet - had 150,000 visitors register prior to the official launch. "With our fashion-forward approach, edited selection and chic format...