How Social Media is Changing the NFL

This week I have chosen to write on a current and future trend in the entertainment business. We all know that the NFL makes up a good portion of the entertainment industry in the United States. This week’s topic covers How Social Media is Changing the NFL.  

Mashable.com’s, Jennifer Van Grove, takes a look at how social media is altering the NFL. She says that the sport has undergone a radical change in the past two years because of social media. All 32 teams including the NFL itself use social media as a platform.

The manager of Internet Services for the San Diego Chargers says he wakes up everyday to check the pulse of the fans, players and organizations on Twitter. Discussions on Twitter turn into discussions on ESPN or Fox Sports. The trends are coming from fans and players and are starting more conversation pieces.

“The NFL recently signed an agreement with brand marketing and management company Buddy Media to give all 32 teams access to better tools for making their Facebook campaigns more successful.” This is making it so that every time has buzz on every social media outlet.

The article explains that most players have a social media account for personal branding. Before most teams advised the players to not participate, but now they are encouraged as long as they do not share confidential information.

“…if a team-related story pops on Twitter, the organization feels compelled to address it within five to ten minutes, simply because of how fast information travels.” This is true, social media cause news and gossip to travel ten times fast then it used to.

Social media outlets also create more a fan base for teams and causing more camaraderie. Followers can know everything from what the player had for breakfast to who got slammed at practice. Social media is quite addictive and this case provides the fan with all around coverage.

Everyone has agreed that social media will only keep growing and playing a crucial role in everyone involved in the NFL’s lives.

Not only can we take this example of social media involvement with the NFL and see the current trend, but you can also use this on any big industry. We also see this in the entertainment industry or educational industry. Social media has only brushed the surface of its potential. In the future, social media will be the means of every news piece and every personal conversation.

http://mashable.com/2011/08/20/nfl-social-media/

Alternative Funding Sources

This week we are looking at other ways to fund a business. I have decided to take an in depth look at the EDA or the U.S. Economic Development Administration. EDA is an agency inside the U.S. Department of Commerce that associates with distrait neighborhoods all over the United States to promote job establishment, partnership and origination. EDA support is obtainable to country and city regions of the Nation suffering extreme joblessness, little revenue, or additional harsh financial suffering.

The U.S. Department of Commerce provides several different investment programs, such as:

Public Works and Economic Development:

-They support the upgrade and expansion of crucial communal facilities or infrastructures.

Economic Adjustment Assistance:

-Delivers a extensive series of public works, technical, and planning and infrastructure support in areas suffering unfavorable economic transformations.

Research and National Technical Assistance:

- Funds exploration of current economic expansion practices, as well as material distribution struggles to nationwide watchers.

Local Technical Assistance:

-Attentive support offered to communal and public heads to aid in economic progress decision making.

Planning Program:

- Assists local and regional organizations (District Organizations, Indian Tribes, and other eligible entities) with their short‐ and long‐term planning efforts.

University Center Economic Development:

- Makes the properties of universities accessible to the economic improvement community.

Trade Adjustment Assistance for Firms:

- Supports a national network of eleven Trade Adjustment Assistance Centers that assists U.S. small and medium‐sized businesses impacted by increased imports with the development and implementation of business recovery and global competitiveness strategies to retain and create jobs.

There are some requirements in order to obtain funding from the EDA. EDA assesses every submission file on the foundation of its conformance with the asset program procedures, backing precedence concerns, and entitlement requests recognized in the applicable Federal Funding Opportunity. The applications are available on www.grants.gov. You can either submit a hard copy or an online copy to the EDA.

There is other information that is offered on the EDA website. They provide their participants with economic initiatives and current economic activity. The EDA also share pictures and stories of recent successes. I personally like how they show you that even through this terrible time, that money can be found in this economy and that it can be used to build and create something great. They also have a resources tab on their page so that any questions you might have will be answered by glancing at this portion. The EDA also provide past reports of economic growth.

I think there are advantages and disadvantages to alternative financing. Some programs that people put money into, they never get back out. And then there are the other programs that create success and accomplishment. Alternative financing can also get tricky if you do not do all the research. Some of the programs are not as stable as others. But there are a good number of programs with a good work history.

http://www.eda.gov/

Bobby Flay's Business Plan and the Food Through Culture Business Plan

Looking at Bobby Flay and his expertise on business plans, I have made note of his techniques. I have learned that I need to have industry experience before I launch my business. Bobby Flay started out by working a restaurant with his father. It was there that he learned that he needed to further his education in culinary arts. After he graduated from culinary school he opened up more restaurants, wrote cookbooks and became a television personality.

I intend to incorporate what I learned from Bobby Flay by gaining experience in my field, which is travel, food and entertainment. I am already receiving my education from Full Sail University, where I graduate in September with a Master’s Degree in Entertainment Business. After I graduate I intend to start blogging or write free-lance pieces that will eventually lead to a book. I am also hoping that the book will turn into a television series on the Food Network, Travel Channel, Cooking Channel or Discovery Channel.

I have not made in specific changes to my plan. I have changed my plan compared to Bobby Flay’s. He owned a restaurant, then got his education, then launched the rest of his business plan. I am getting me education, then I am going to gain experience and then from there I will launch the rest of my business plan.  Before I read about Bobby Flay’s business plan, I really had no direction of how I should execute my own business plan. By using him as a model, I have created a distinct and precise business plan that I can follow through with.

The section of the business plan that I believe is most important is the experience portion. By gaining experience, I gain insight on the industry that I wish to become a part of.  The experience will prepare me for obstacles that I may run into when I start my own business. Another important aspect of my business plan is developing the product, which will be the book. I need to do the research in order to produce the book.

Recognized Experts

This topic is on recognized experts in the field of business plans. The first expert that I would like to point out is Bobby Flay. He represents food and culture, just like Food Through Culture plans to. He uses foods from several different cultures in order to make culinary masterpieces. 

Bobby Flay has 11 cookbooks and 11 restaurants and not to mention several shows on the Food Network and the Cooking Channel.  Next year he plans to venture into household goods and cooking supplies.

Bobby Flay was a High School dropout that partnered with his Dad on a restaurant. He also sent himself to culinary school.

It seems that Mr. Flay’s point of view on success came from culinary incentive and creativeness. He has intricate business plans. He first started as a chef, turned into a restaurateur, to an author and most commonly known as a television host. He is a chef-preneur who made a game plan that would be sure of success.

The second acknowledgeable expert is Kim Kardashian. She is a reality television star that took advantage of the spotlight. Her family name was infamous for winning the O.J. Simpson trial. She was  also great friend of Paris Hilton. She is most famous for her show Keeping Up With the Kardashians, her boutique and her scandal.

From her reality show Kim Kardashian posed for Playboy, expanded her boutique, created a fragrance line and launched a shoe-of-the-month club.

I recognize her because she took her sleazy fame and turned it into a career. She created an indestructible business plan by providing girls and women with entertainment, fashion and beauty. She has conquered all three of these realms.

When investors are looking for key components in a plan they look for stability, creativity and security. They look at the stability of the client in order to make sure that their product or service is established enough to last. Another thing they look for is creativity, without a unique idea, you have no following or interest. The last thing they look at is security. They check to see if their client has the funds to back up the venture.

 http://money.cnn.com/galleries/2011/smallbusiness/1106/gallery.celebrity_chefs_business/4.html

http://www.infoplease.com/biography/var/kimkardashian.html 

http://www.wetpaint.com/kourtney-and-kim-take-new-york/articles/kim-kardashian-named-entrepreneur-of-the-year-at-glamour-awards 

Surveys and Social Media

 Surveys and Social Media

This week we learned that social media includes much more than just blogs and Facebooks. I learned that it could include surveys and feedback from visitors or customers as well. Starbucks has one of the best social media outlets due to their My Starbucks Idea webpage. 

“The site allows users to submit suggestions to be voted on by Starbucks consumers, and the most popular suggestions are highlighted and reviewed. Starbucks then took it a step further and added an “Ideas in Action” blog that gives updates to users on the status of changes suggested.”

It’s kind of like a mini share site that allows customers to rant or rave. Starbucks gets the feedback that they want, while also comforting the customer. The ideas include anything from drink ideas to company efficiency.

I actually work for Starbucks and if there is one thing the company is good at, it is listening to its customers and employees. They created community service outlets for the employees, applications for the customers, feedback comment cards in-store and my Starbucks idea webpage.

I think that Starbucks efficiently uses the feedback aspect of social media in order to gain the following and growth of customers. Sometimes there might not be good feedback, but you will always know what the customers are expecting and how to change your business.

This week I also created a survey for my blog. This way I can learn how others feel about my blog and how to improve it. I appreciate this tool because I now use it on my other blog that correlates more to my company, Food Through Culture. The survey asks what viewers think of my blog and what they think of the company. I asked them what they think about the company because it is a brand new company and their feedback would help determine whether my venture is wanted and possible.

Most people see social media as social networking sites, but it can include communications between employees and customers too. A company can learn a lot about its customers by letting them share their piece of mind.

http://mashable.com/2009/02/06/social-media-smartest-brands/

Deal Sites

Everyone has heard of the deal sites like Groupon and Living Social. These sites have everything to do with digital marketing because all of their marketing is done via website, e-mail or phone application. The deal sites are also connected to the travel industry because some people travel to use the deals and some of the deals are vacations or getaways.

I found an article from the Associated Press that demonstrates just how successful this form of digital marketing really is. The article starts off by revealing how fast the deal sites are growing and they are growing at such a fast pace that their offices have not been able to keep up.

“In just three years, the business model has changed local advertising, delivering faster results than other marketing methods. Store owners get immediate revenue and can see exactly how many customers an offer brings in.”

This form of marketing creates an immediate effect on shopping. Companies advertise the deals and the customers flock to buy. This is a new form of commerce that changed the way companies market their products.

The deal sites have more than doubled and have expected to generate $2.7 billion in revenue this year and it is said that the daily market could reach $4 billion by 2015.

Social networking sites are hopping on board with the deals and so have other shopper sites. Everyone is out to grab a piece of this new marketing method. There are two different types of deal sites, group buying sites and flash sale sites. The group buying sites are the ones like Groupon and Living Social that partner with local businesses for special offer. Flash sale sites like Ruelala and Gilt, host limited-time sales for members only.

Some merchants are so quick to create a deal that they end up getting burned. The deal takes too much from the company and the consumers make out with an even better deal than they thought. This tool has also created awareness for customers. It allows customers to find companies that they never could have before.

I personally have used Groupon and can honestly say that this form of digital marketing is remarkable. I see deal sites staying for a long time. I think that this is a form of digital marketing that has just started and over time will develop into something bigger than we can even imagine. Maybe even paper coupons and advertisements will be eliminated all because of this type of marketing.

http://www.google.com/hostednews/ap/article/ALeqM5i6_d0K1kZvj0ndrYvZgULNtZP1Lw?docId=9cd3fe4949cc49a382221d936ce9a1e8

Travel Journalism and Applications

It’s a hard market for travel writers now, especially with everything being online. One innovative tactic that has recently come to my attention is mobile applications. Travel writers are now creating mobile apps to release their work.

In the article, “Apps-the Future of Travel Journalism”, Lee Foster explains how he makes more money off of applications than he did books. Foster says, “Royalty rates for authors of apps are much higher than for authors of books, and for good reason.” Now we see that royalties are larger than books, so it might be easier to create an application and submit your work through there.

He also points out that the low price point will build a new market. For applications you can set your own price, which can help by determining worth and profit. The applications are also available everywhere. You can supply applications for all types of phones, like Android or Apple. People can also access the application at anytime, unlike a phone where you have to carry it with you wherever you go.

Articles and books are also available on many other formats now. Books and articles can be found on Kindles, Nooks, phones, tablets or iPads. Text be can be accessed everywhere at any given time. If you are a travel writer that does not have a book out, well magazines, articles and blogs can all be accessed on these devices. I suggest that you release your work on every platform possible. That you have more of a chance of reaching the most amount of people.

It seems to me that travel writing is becoming technologically advanced like the rest of the world. I think it is a great thing because before travel writers were down on how they could make a profit since everything relates to phones and Internet now. I feel like travel journalism now requires the author to be creative in ways he or she has never imagined.

http://www.fostertravel.com/apps-the-future-of-travel-journalism/?utm_source=Foster+Travel+Publishing&utm_campaign=017f183bcc-RSS_EMAIL_CAMPAIGN&utm_medium=email

How to Get Your Travel Writing Published Everywhere

I found an amazing post on how to get your travel writings published. Todd Lappin wrote the post from The Everywhere blog. The post details how a freelance travel journalist should go about publishing their work.

The first piece of advice Lappin offers is to observe the magazine architecture. By that he means that the writer has to know where his or her piece will fit. Lappin says is perfectly, “To get published, it helps to notice how a magazine is structured, and to tailor your piece to fit within a specific section.”

The second tip is to write for specific sections. Writing for specific sections can limit you writing abilities, but it can also narrow down your topic choices. This can also cause a greater competition between you and other writers because the topics are so defined.

The third topic is to focus on the particular. Magazines like more distinct pieces rather than a survey of topics. When telling a story, most people tell them with difference and by being particular already.

Another thing to do is to think graphically. People love pictures. Pictures can describe a thousand words. It is perfectly fine to include pictures, but just make sure that the pictures match the story and act like a piece to the puzzle.

The last piece of advice is to tell more, not less. Writers should include high detail and try not to leave any aspect of the story out. It is always easier to shorten a story than it is to lengthen it.

I can personally say that these tips have helped me understand how to get a travel piece published. I know that the travel journalism business is extremely competitive, but by knowing a few tips that can help you stand apart really helps a lot.

http://www.everywheremag.com/blog/2008/02/how-to-get-your-prose-publishe.html

Review of Podcasts

Episode 13 of the Entertainment Law Update podcast discusses Justin Bieber and his soon to be lawsuit. The lawsuit comes from a kid from Illinois, one of Justin Bieber’s enemies. Bieber revealed the kid’s phone number on twitter and has received 26,000 texts. The podcast also includes a mention of the Tenenbaum v. Sony case and how the award from the case was cut 90% on constitutional grounds. The update also talks about Kate Plus 8. The issue at hand is whether the children should be allowed to film because they are under the age of 7 and are not allowed to work on television. They then talk about Jay-Z and his lawsuit against Ahab Joseph Nafal, which involves Nafal infringing copyright on “Big Pimpin”.
There are so many issues on the entertainment law update podcasts that I could only pick a few. But the ones that I have mentioned are all quite recent. It shows that stars are not invincible. I also believe that the Kate Plus 8 court case should be reviewed because the work of children should be monitored. The issue with Jay-Z shows us that even if you live in another country, use another language and use someone else’s tune, you can still be charged with copyright.

The second podcast discusses Lady Gaga and Madonna. Lady Gaga was said to have stolen a song from Madonna. The song they are talking about is “Born This Way”, which is supposed to be Madonna’s “Express Yourself”. Another issue that was talked about was about Subway and their “foot long”. Casey’s General Store, Inc. claims that Subway told them to desist from using the term “foot long”. CGS, Inc. came back saying that the word “foot long” is not copyrighted. Another issue talks about Super Bowl fans and how during the 2011 Super Bowl, ticket holders were denied their tickets to the game.
This issues that were brought up in this podcast were very entertaining. I enjoyed hearing about the popular Gaga and Madonna case. I also believe that Subway should not be able to copyright the word “foot long”. And lastly the case with the Super Bowl Fans, well I hope they get their money’s worth.

The last podcast talks about the book Hollywood on Strike by Jonathan Handel. The book covers the 2007-2008 Writer’s Guild strike and the stalemate from the Screen Actors, which lasted through 2009. The book discusses how the strike got started and why the writers thought they were not being paid enough money.
I found this podcast interesting because I remember hearing about the strike, but I never really followed why it happened. Hearing this podcast made me realize how much money actors were making compared to writers.

www.entertainmentlawupdate.com

Industry Liabilities

Today’s topic is industry liabilities. Every industry has them, including the television industry. There are three articles that relate to industry liabilities. The first industry liability article comes from Bloomberg.com and concerns Sam Zell and his desires to buy Fortune.

Sam Zell, a real estate entrepreneur, wanted to buyout the private media conglomerate, Tribune. Tribune consisted of newspapers and television. He was going to buy the company for $8.2 billion, but now calls the deal, “the deal from hell”. The lawsuit was set against him by creditors and blames him for the company’s inability to pay $13 billion from the buyout in 2007.Two hedge funds were set up in order to reorganize the billions of dollars in legal claims. Tribune filed bankruptcy in 2008. Tribune has 23 television stations and eight newspapers.

People must take severe caution when buying a company. Buying a company is nothing but legal work. I suggest that Sam Zell should have taken small steps in order to buy the company. Buying the company all at once and quite fast proved to cause him billions of dollars in legal fees.

http://www.bloomberg.com/news/2011-03-23/billionaire-sam-zell-fights-to-avoid-legal-claims-over-tribune.html

The second article is about the Supreme Court decision on Internet content distribution. Mediacaster.com has an article on how the Supreme Court of Canada is deciding on how Internet service providers are broadcasters when they submit media and video online. In terms of their legal and copyright obligations, mobile providers are being seen as conventional broadcasters. If the Supreme Court rules that is it considered broadcasting, then the Canadian Radio-television and communications commission under the broadcasting act of 1991 will view the content.

This issue opens up a whole other legal door for the Internet and its contact with media. The Internet is nothing but media and videos, placing a constraint and attaching fees is only going to make the Internet a nightmare for those who are posting media.

http://www.mediacastermagazine.com/issues/story.aspx?aid=1000405845

The last article is from nzherald.co.nz. The article covers the right to express opinion in newspapers. The Press Council has discarded a criticism from a previous Feltex administrator concerning an article by Brian Gaynor. Peter Thomas objected to an article in the New Zealand Herald that was written by Brian Gaynor and stated that it violated Press Council principles connecting to balance, accuracy and fairness. Thomas also complained that the article was misleading. “The charges were that the directors had failed to disclose a breach of a loan agreement (a debt facility provided by the ANZ Bank); and that this loan had been classified as a "non-current" liability when it should have been "current".”

The issue at hand involves revealing news in public media sources. The newspaper is a common piece of literature and legal forms must be followed before the copies are issued.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10711788

Current Events and their Effects on the Travel Industry

The recent issue in the travel industry has to do with all of the world’s current events, like the Japanese Tsunami, the war in Iraq, the tension in Egypt, the list can go on and on. The tension created between countries causes travelers to stop traveling. When feuds exist, travelers do not like to take the chance to travel to certain countries.

An article from UPI.com points out that one of the reasons why travelers are waiting to travel is because of the recent increase in fuel prices. The recent increase in fuel prices has reflected on plane tickets, food prices and total transportation.

Two large travel corporations, Delta and Carnival are reporting the numbers. Millions of travelers are hesitant about traveling. The two companies have reported that the recent crises are affecting their business and the travel industry as a whole.

“Delta has cut back on flights to Japan's Tokyo Narita International Airport by 15 percent to 20 percent since the March 11 9-magnitude earthquake, tsunami and nuclear crisis, Ed Bastian, Delta president said Tuesday at the J.P. Morgan Aviation Transportation and Defense Conference in New York. The Tokyo run is a hub for Delta, bringing in more than $2 billion a year, and the service disruption could cost the airline as much as $400 million, Bastian said.”

The political issues in the Middle East and North Africa have caused Carnival Cruise lines to lose business. So much so that $44 million dollars has recently been lost. The cruise line had to remove all of the stops in the Middle East and North Africa.

Current world events really take a toll on every industry, but the travel industry is always affected when severe events occur. People like to keep it safe and stay close to home when they see a disaster.

Between the economy the way it is and the recent crises around the world, it is going to take a while for the travel industry to pick back up. People have to feel secure and they have to have the money to travel.


http://www.upi.com/Top_News/US/2011/03/23/Crises-hit-travel-industry-hard/UPI-99031300928394/

The Internet is Ruining Travel Journalism

It seems that every travel journalist that I have interviewed or talked to has warned me about the field. They admit that the field used to be quite prosperous, but now they make close to nothing because of the Internet. I personally do not look at this as a road stop, but more of a challenge. I understand the Internet is my main competitor and that it is extremely hard to get works published in magazines, but my route has to do with vlogging and television.

On the topic, I currently read an article by Jeremy Head, which is a writer for tnooz (a talking travel tech website). Head points out that the Internet is beating travel journalism. He first explains how the newspaper industry is fading fast and how newspapers were an outlet where travel journalism was harvested and read. Head also discusses how travel itself is declining. People aren’t traveling because they do not have money from the current economy. I know that the travel will start to pick up as soon as the economy does. It is sad to see such an interesting field diminish and be taken over by sights such as yelp and Trip Advisor. Travel journalism is an art and has a flowing type of writing, while travel sites are direct and show no passion towards the location.

My plan is to travel and reveal why certain cultures eat the foods that they do. This will include what economic, religious and regional effects have on the food. The title is Food Through Culture and hopefully people will be interested in knowing why they are eating some of the foods that they do. I promise not to give up travel journalism and I hope to restore passion in the travel industry. By showing viewers that travel is important, broadens the senses and captivates cultures they will be inspired to travel and to read travel journalism.

http://www.tnooz.com/2009/10/01/news/the-internet-is-ruining-travel-journalism/

Interviews with Travel Journalists on Negotiations

I currently interviewed four travel journalists on certain aspects of making negotiations. There were several topics to choose from, but the best possible questions were chosen. The four questions are as follows:

What negotiations are involved in travel journalism?
How many negotiations are involved in one piece?
Do you take the leading role in the negotiation?
How do you reach a mutual benefit?

The first person I interviewed was Jules Older, a freelance travel journalist. I presented her with the four questions and she responded with:

“If the editor buys your piece, he offers you a price, and you say one of three things:
1. No. Too low
2. Yes. Thanks
3. I was expecting more.”

I greatly appreciate her giving me such great advice. These three responses are the replies used in negotiation. If the negotiator gives too low of a price, then I take my piece to another company.

Sally McKinney was the next travel journalist that I interviewed. She was given the same four questions. She responded as follows:

“Previously, I've used negotiation skills to purchase equipment and supplies; to get press trips, article assignments and book contracts; to set up book signings, or an occasional TV appearance or radio interview.

You can see that each situation is unique, so the negotiations are never quite the same. A road trip from southern Indiana to Columbus, Ohio, for example, is a different experience from the series of flights that took me to Kampala, Uganda.

Although I've occasionally taken a leading role in planning travel with a photographer, I’m usually coping with travel plans alone (so I take a leading role).

There are many ways to reach a mutual benefit. It's important to listen and to learn, to be aware of what others want, to ask myself what the others might want that’s not being said.”

This was the most valuable interview that I had. She provided me with examples and pointed out to me what to do in certain situations. It is tricky to negotiate with travel journalism because you are personally negotiating your artwork.

The third travel journalist that I interviewed was with Garry Marchant. I presented him with the four negotiation questions and he responded with:

What negotiations are involved in travel journalism?

"Usually, none. Publications have a set fee, either per word or per article, and they usually don't deviate from that.”

How many negotiations are involved in one piece?

“Normally, the writer approaches a publication with an idea (although sometimes an editor will approach a writer he or she likes) and a flat fee is offered. A writer will only deal with the assignment editor (or main editor).”

Do you take the leading role in the negotiation?

"As I said, there is usually no negotiation."

How do you reach a mutual benefit?

“If you like writing for a publication, and feel the fee is fare, then the writer will accept it.

However, I once found out that a major publication that I have written for years pays a higher rate for longer serving freelancers, so I asked them for the higher rate. They just immediately agreed. I have asked several other regular publication for an increase in fees, because of inflation and the falling American dollar, and all I get is "We are looking into our fees."”

Garry Marchant supplied me with an outlook on personal experience with negotiations. I appreciate him telling me about the rates and how to handle company’s responses.

The last travel journalist interviewed was Michael Ventura. He responded to my questions with:

What negotiations are involved in travel journalism?

“There really isn't all that much. For the most part you accept the terms the media outlet offers or you don't work with them. Yes, you can scratch out a term here and there but too many and they will move on to someone else. There are many talented people willing to work for very little and willing to give away too many rights. Most just sign and do the work.”

How many negotiations are involved in one piece?

“One if any.”

Do you take the leading role in the negotiation?

“Usually the media outlet has a contract and you can either sign or not. If you want to change something than yes, you take the leading role at that point.”

How do you reach a mutual benefit?

“The benefit seems to be weighted in the favor of the buyer, as, it seems, no writers or photographers are getting rich (and far from it) from travel journalism. You must love what you do and have other sources of income.”

Mr. Ventura helped me understand the negotiation process when it comes to taking leading roles and positions.

I really appreciate all of the travel journalists that took their busy, travel-filled time to answer my questions on negotiating.

Leisure Travel

This week’s topic involves the leisure travel industry. The travel industry as a whole has seen better days, but recently there has been an incremental rise. The reason why people have not bee leisure traveling is because of money. Instead of traveling they have been looking for leisure activities around their own cities. Leisure traveling costs a good deal of money and everyone is doing whatever he or she can to save at this time.

In the Reuters article, “Leisure Travel is Recovering, But Slowly” Helen Chernikoff writes that the leisure business is slowly starting to improve, but is not completely back to its normal state. Chernikoff states that leisure reservations went up 23% in May of 2010. That is a big number for 2010 considering there was barely any leisure travel at all. She also claims that corporate reservations also went up 40% in May. So as you can see the business travel industry is still doing better than leisure.

The reason why the business travel industry is currently more successful than the leisure travel industry is because no matter what the price most businesses will fork over the money for business travel in hopes that the negotiations made on the trip will bring them more money. The companies are also paying for the travel, so the money is not coming straight from people’s pockets.

According to Pegasus Solutions Inc. the monthly profits made from leisure hotel reservations through June 2011 will increase a standard of 14% from the previous year.

Corporate travel is still on the rise, the amount of travel will raise 59% over the same time period that leisure travel.

Leisure travelers are also staying at cheaper hotels than corporate travelers. The corporations are putting their employees up at expensive corporate hotels, where the leisure travelers are staying in budget hotels so they can save their money.

The increase in demand of reservations will increase the room rates. So a heads up to those leisure travelers, try to stay away from corporate hotels and to fund the better deal, stick to the budget hotels.

It is good to see that the leisure travel industry is starting to increase. The company that I want to launch revolves around leisure travel and will want to promote people to travel. Hopefully the travel industry will return to normal or become better than it ever was in the next two years so that my company will be able to thrive.

http://www.reuters.com/article/idUSN2025332620110120

Food and Finance

I just recently read an article that compares the evolution of finance with the evolution of food. The relationship between the two is remarkable. In the article “Food and Finance” by James Kwak, the two comparisons are surfaced and explained.

The article starts off by explaining nutrionalism, which is “the idea that food should be thought of in terms of its component nutrients”. Kwak then goes into detail on how foods are highly processed and not nutritional whatsoever, but the package could still say that the product is healthy. He also explains that most labels will provide a simple sentence on how the product is healthy, but then the FDA will also have a disclaimer that will say that there is very little evidence to support the claim.

Overall, Kwak states that nutritionalism is a sham. Then he compares the bogus nutrionalism to finance and how they are both industries that produces income from persuading people to do things that are not in their continuing benefits and will later create damaging occurrences for others all over the world. The industries protect themselves by claiming that they are merely providing the customer with their wants and needs. Both industries also state that if they can’t continue their regular processes, that the economy will end up suffering.

I find it very interesting that food and finance can be remotely related, but when the two markets are compared there are some qualities that prove to be tremendously similar. I think that there are good perspectives within food and finance as well. This article tends to shed light on a certain sector of food and finance and also creates a bridge between two topics that are rarely compared. It would be interesting to see the similarity between food and finance in a positive perspective.

http://baselinescenario.com/2010/10/24/food-and-finance/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+BaselineScenario+%28The+Baseline+Scenario%29