Word: outlooks
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...months after Katrina, there was much talk of diversifying the region's economy to liberate it from its dependence on the low-paying tourism industry. That has largely failed to materialize, but there's a silver lining to that news - at least the tourism outlook is good. Stephen Perry, CEO of the New Orleans Convention and Visitors Bureau, projects that the number of people visiting the city in 2009 could be up 5% to 7% from the 7.5 million visitors in 2008. "We're feeling pretty positive coming into the year," he says. How many people, in New Orleans...
Even more worrying for the long-term outlook is the rush to cancel orders for new ships. Clarksons of London, the world's largest shipbroker, announced that new orders had dropped from 378 vessels in October 2007 to just 37 last October. In November, New York?based Genco Shipping and Trading wrote off a $53 million deposit in order to get out of a $530 million deal to buy six new vessels, freeing up liquidity and strengthening the firm's "ability to act opportunistically," a Genco spokesman said. As companies pull back to protect their bottom lines, many are simply...
...from 38 to 112 years old. The 15 years of planned renovations are slated to start in 2011, but a number of key questions remain unanswered, including where students in Houses undergoing construction will be relocated and how the plans will fit with the University's now bleaker financial outlook...
...increasing wariness of spending and investing comes with good reason. Throughout this past year, bad investments in ventures and funds have cost the couple a hefty 50,000 yuan (roughly $7,300) - or about one-third of their annual income - something inconceivable in the popular mind when the economic outlook was much rosier...
Amid the gravest economic and financial crisis in decades, the outlook for Christmas was never very bright. Some 54% of Americans polled by market-research firm TNS Retail Forward said they planned to spend less money on Christmas gifts this month than they did one year ago. The pullback is not just hitting middle market retailers, such as Dillards and Macys, but upscale stores like Saks Fifth Ave and Nordstrom as well. Saks, for example, saw same-stores sales decline 11.5% in the third quarter, followed by a 5.2% decrease in November...