Word: hotels
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Dates: during 2000-2009
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Last December at a black-tie industry gala in New York City's famed Plaza Hotel, Ken Lewis strode past other top financial executives to the podium to accept the award for Banker of the Year. The financial industry was crashing, but Lewis looked to be at the top of his game. The CEO told the crowd, "It is incumbent upon all of us, especially those of us whose performance has left us in a strengthened leadership position, to help our industry find a new balance between our desire for economic growth and our need for market stability...
...city for Chicago to emulate, it would be Atlanta. The city's $1.7 billion privately funded Summer Games in 1996 sparked a construction boom in the city's downtown core and, according to the Metro Atlanta Chamber of Commerce, generated $5 billion in economic activity, including $1.8 billion in hotel, residential and commercial construction. What's more, the city found long-term uses for its Olympic venues, transferring the Olympic stadium and village to the Atlanta Braves and Georgia State University, respectively. "The Olympics gave Atlanta a tremendous boost in commerce," says Sam Williams, president of the Metro Atlanta Chamber...
...lakes - which earned Udaipur the nickname the "Venice of the East" - have been a major tourist magnet in the past few years, and building places for tourists to sleep has accelerated the problem. With the Oberoi Udaivilas luxury hotel opening in 2000 and the Leela Palace, which opened in April, both just a few feet from the lake, the doors have opened for other shoreline hotel and residential development. "The big guys essentially bought their way past standing lakeshore-encroachment laws," says Razdan. "That created a domino effect. Smaller entrepreneurs with money muscle and political connections asked...
...These ideas and others were addressed last month at a one-day conference exploring integrated lake-basin management for the Udaipur lakes, hosted by Mewar at his Fateh Prakash Hotel beside Lake Pichola. Masahisa Nakamura, director of the Center for Sustainability and Environment at Japan's Shiga University and chairman of the International Lake Environment Committee Foundation's scientific committee, identified several human factors that are to blame for the lakes' sorry state: deforestation, construction of new hotels and private homes too close to the lakes, sewage and waste dumping, and poor governance, bribes and corruption. Nakamura was particularly critical...
Megabank HSBC has been as much a part of Hong Kong history as Victoria Harbor, high tea at the Peninsula Hotel and martial-arts movies. Founded in 1865 as the Hongkong and Shanghai Banking Corporation, HSBC backed some of city's most important businessmen, including tycoon Li Ka-shing, and remains Hong Kong's No. 1 bank. But for much of the past 20 years, HSBC has expended a lot of its energy striving to be more than an Asian institution. With major acquisitions in the U.K., the U.S. and elsewhere, HSBC grew into one of the world's largest...