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  • Leonardo_Bazzani Leonardo_Bazzani Sep 15, 2001 2:35 PM Flag

    Counterbalancing Trends for CD

    Transcript: Friday, September 14, 2001
    <nightlybusiness.org>
    LINDA O'BRYON: The nation's air system is slowly coming back to life today. But many travelers are having second thoughts about getting onto those planes. As Diane Eastabrook reports, experts say that could spell trouble for the travel and hotel industries.

    DIANE EASTABROOK, NIGHTLY BUSINESS REPORT CORRESPONDENT: At this suburban Chicago travel agency, very few customers are canceling trips they've scheduled weeks ago.

    UNNAMED TRAVEL AGENT: All right, and that was a trip from Cincinnati to Richmond?

    EASTABROOK: But the agency says hardly anyone is scheduling new ones.

    JOHN SMITH, TOWER TRAVEL: Until people feel like they're able to travel without fear and they're not in a target, which is obviously the term that's been used for the attacks, they're going to feel unsure about traveling on cruise lines or taking long stays in hotels.

    EASTABROOK: Industry watchers believe the terrorist attacks this week will turn an already dismal year for the travel and leisure industries into a terrible one. Price Waterhouse Coopers is predicting this to be the worst year for the U.S. lodging industry in 33 years. The company says revenues per available room could decline up to five percent. They dropped about 2 � percent during the Gulf War in 1991. Casinos in Las Vegas are also expected to take a hit. Since Las Vegas is typically a fly to destination, analysts think gamblers who are afraid to fly may avoid the city and opt for riverboat casinos, which are more accessible by car. But despite the grim short-term prospects for the lodging and gaming industries, some analysts say investors should not necessarily abandon these companies.

    NAPOLEON OVERTON, VICE PRESIDENT, MORGAN KEEGAN INC.: If there is substantial pressure due to lower earnings expectations short-term for these two sectors, then I think longer term it'll represent a clear by buying opportunity to buy good companies when they're beat up in a very unusual situation.

    EASTABROOK: Airlines could play a crucial role in the recovery of lodging and gaming stocks. Analysts say the sooner American consumers are assured the skies are safe again, the sooner they'll return to traveling. Diane Eastabrook, NIGHTLY BUSINESS REPORT, Chicago.

    Leo

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    • The date of the attack: 9/11 - 9 + 1 + 1 = 11
      September 11th is the 254th day of the year: 2 + 5 + 4 = 11
      After September 11th there are 111 days left to the end of the year.
      119 is the area code to Iraq/Iran. 1 + 1 + 9 = 11
      Twin Towers - standing side by side, looks like the number 11
      The first plane to hit the towers was Flight 11
      But ....There's More.......
      State of New York - The 11 State added to the Union
      New York City - 11 Letters
      Afghanistan - 11 Letters
      The Pentagon - 11 Letters
      Ramzi Yousef - 11 Letters (convicted of orchestrating the attack on the WTC in 1993)
      Flight 11 - 92 on board - 9 + 2 = 11
      Flight 77 - 65 on board - 6 + 5 = 11

      Please pass it on.

      Leo

 

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