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...demand is falling quickly too. "There's [been] nothing like this in history, in terms of falling demand" says Bjorn Hanson an industry analyst with New York University's hotel school. With the strengthening dollar, hotels are losing the European traveler; slumping corporate profits mean conventions are seeing fewer attendees; and as the job picture worsens, family vacation travel is down...
...more mixed that people think," he says. "We're hearing that pharma and agra companies are actually increasing their travel budget." Companies, while not cutting out travel, are looking for ways to tighten their belt. "Instead of sending 10 people, they'll send 7 to a convention, for fewer days." Instead of sending managers to meet with colleagues, "they'll be spending that money on sending salespeople to meet with their clients." If those salespeople are smart, they'll haggle for freebies and upgrades...
...fewer poinsettia will grace the winged feet of a forlorn Hermes in Gordon Hall this year, as the Medical School’s staffers look to ring in the holidays with some year-end cheer. Stripped of its usual floral retinue, the messenger of the Greek gods seems to bear some sobering news: pressed by an unprecedented financial crisis, formerly lavish traditions will be giving way to a frugal conservatism as Harvard’s party planners across face tighter budget constraints this year.While administrators look to cope with an endowment savaged by losses, schools across the University are doing...
...completely recession-proof. The North American market almost collapsed due to oversaturation after 1983. But the industry is certainly in a much better position than Hollywood, which faces a unique problem in this recession because it has become far too easy to get access to content for free online. Fewer people will continue to pay for cable when they can watch TV shows online for free, which has become widely available legally. With games, illegal downloading is a non-issue, since most titles are far too complex to stream...
...lower this September relative to 2007, but the trend disappears if you take the blockbuster Halo 3 out of the equation. Electronic Arts plans to cut jobs after failing to meet profit projections, but the company is in transition to a new strategy of focusing on innovation and making fewer, higher-quality games rather than the yearly editions of sports games and Sims expansion packs that have been its bread and butter. There are signs that stores are focusing more on stocking the shelves with hits rather than a broad range, but this is not necessarily bad news...