Tag: Meltdownomics View All Tags
Theme Parks
Cypress Gardens Another Victim Of End Times
November 26, 2008 at 4:30 PM | 2 Comments
One of the country’s oldest theme parks, Cypress Gardens, is closing yet again. Park owners say they want to refocus on the things that initially made the park popular, like water ski shows. As of now, it's scheduled to reopen in March.
The last time the park rebooted they added a zoo, roller coasters and other amusement rides. They’re now no more. The botanical gardens within the park will operate along side the water-skiers--the same entertainment that kept the park functional and successful for years.
Sitting between Orlando and Tampa the park was definitely hit hard by the economic slump, as well as high gas prices. More than 200 workers at the park will be let go until the reopening; no word if they’ll be guaranteed a new job when things get rolling again in 2009.
Related Stories:
· Cypress Gardens Closing Again [Orlando Sentinel]
· Cypress Gardens [Official Site]
· Theme Parks coverage [Jaunted]
[Photo of better times: Jim Moore]
Meltdownomics
China's Airlines Stick Their Hands In The Pot
November 21, 2008 at 1:15 PM | 0 Comments
Airlines in China are queuing up with the rest of the country’s companies for a ladleful of life-saving capital. Looks like now’s the time to see if this communism thing really works!
In addition to China’s already announced 4 trillion yuan ($586 billion) economic stimulus package, Air China and the other big Chinese airlines are seeking industry-specific government aid to cope with their losses. Even the mention of the bailout sent shares of China’s three biggest carriers soaring. According to Reuters, China Eastern Airlines and China Southern Airlines were each likely to receive 3 billion yuan, or $439 million.
No word on whether the extra cash will prompt these carriers to trade in the rubbery meat they try to pass off as chicken, but we’re guessing, per usual, the passenger will be the last one to reap the benefits of any eventual government infusions of cash.
Related Stories:
· Chinese Airlines Look to Beijing for Help [Reuters, via IHT]
· China Travel coverage [Jaunted]
[Photo: msitting]
Private Jets
In Which We Discover The Cause Of Detroit's Money Woes
November 19, 2008 at 3:33 PM | 0 Comments
High fuel prices hurting business? Fierce international competition forcing layoffs? Former presidential candidates badmouthing you? If you're the CEO of Chrysler, Ford or GM, that apparently means it's time for a private jet trip to Washington, DC to ask for a government bailout!
ABC News caught GM boss Rick Wagoner hopping on a G-IV to get from Detroit to the capital, while he could've taken Northwest Flight 2364 for just $288--or $837 for first class. Meanwhile, Ford's CEO Alan Mulally actually commutes between Seattle and Detroit by private jet; his company operates a fleet of eight planes for execs. Who do these guys think they are? AIG?
In all seriousness, Wagoner doesn't have it that good. After all, Gulfstream stopped making G-IVs in 2003, which means he's riding in a plane at least six model years old!
Related Stories:
· Big Three CEOs Flew Private Jets to Plead for Bailout [ABC News]
· Private Jets coverage [Jaunted]
[Photo of a G-IV: Wikimedia]
Meltdownomics
Queenslanders Fix Economic Meltdown With More Sex
November 12, 2008 at 9:30 AM | 0 Comments
The economic meltdown obviously has an effect on tourism, and the northern Queensland White Cockatoo Resort knows it. That’s why the nudist resort is turning to sex parties and swinger guests to boost its diminishing bookings, with March 2009 designated an anything goes, adults only month.
The White Cockatoo has seen its fair share of raunchy guest behavior but banned that kind of naughty stuff a few years ago when (among other incidents) a pair of nudists in their 50s complained about "a rowdy display of balcony sex before breakfast."
After "indirectly" advertising this month of hedonism, the resort is almost fully booked for March. And yes, the resort owner really said this when asked why he'd reversed the ban:
Tough economic times call for stiff measures.
Our italics. But none of this over breakfast, please.
Related Stories:
· Orgies Return to Hedonistic Nude Resort at Mossman [Courier Mail]
· Nude Travel coverage [Jaunted]
[Photo: redteam]
Where Is
The (Bankrupt) Yellowstone Club
November 11, 2008 at 11:57 AM | 0 Comments
Allow us to savor a bit of schadenfreude with this news: The tony Yellowstone Club has filed for bankruptcy. The swanky, members-only resort outside of Big Sky, Montana--that counts former VP Dan Quayle, cyclist Greg LeMond and Bill Gates as members--couldn't seal a new investment deal and so has asked a federal court for protection from creditors as it reorganizes its finances.
The sprawling complex already boasts a golf course, private skiing and clusters of log-cabin style "residences," as well as three mountain lodges where--we imagine--Bart Bass-style captains of industry feast on ortolan and quaff centuries-old port.
Just weeks before US Treasury Secretary Paulson started handing out billions to banks, The Yellowstone Club was planning to add 450 additional condos, a spa and even more skiing. Needless to say, those plans are now on hold. Maybe if the resort goes out of business the rich will be stuck buying "cheap" $62-a-day lift tickets like the rest of us!
Related Stories:
· The Yellowstone Club [Official Site]
· Exclusive Yellowstone Club Files for Bankruptcy [AP, via Google]
· Skiing coverage [Jaunted]
Shopping
Poor Timing, Love: London Greets Recession With Giant Mall
November 3, 2008 at 10:00 AM | 0 Comments
Global recession be damned, Londoners are ready to shop. Er, at least they better be, because the city just opened one of the continent's largest shopping malls.
The 265-store, glass-roofed Westfield London Shopping Centre opened last week. The mall--in the White City neighborhood--is chock full of high-end retailers like Louis Vuitton and Tiffany's, along with 47 restaurants, and even a new tube station just to serve the traffic the mall is anticipated to attract.
Londonist has a neat photo gallery of the opulent interior. And judging from the pics, there appear to be plenty of folks left in London with some money to burn.
Related Stories:
· Westfield London Shopping Centre [Official Site]
· London Mall Opened by Westfield as Recession Looms [Bloomberg]
· Shopping Travel coverage [Jaunted]
[Photo: Londonist]
Meltdownomics
Financial Meltdown Travel: NYC's Ode To The Economy
October 31, 2008 at 12:35 PM | 0 Comments
Ahhh, the economy. Up and down, bull and bear, such an adventure! Yeah right.
To commemorate Black Friday, one of the US economy's darkest days, a duo of artists created a giant ice sculpture in downtown Manhattan. It's a 1500 pound rendition of the word "Economy", and will sit outside until it melts down to a puddle of water. Get it?
It's a very obvious commentary maybe, but at least it can inject some fun into an otherwise dire situation. As the sculpture went up yesterday, it's probably already gone--but you could still go see the spot where this iced up economy once stood.
Related Stories:
· Using Ice Sculptures as Social Commentary [Trend Hunter]
· History of Black Friday [Answers.com]
· Recession Restaurants coverage [Jaunted]
Meltdownomics
Adventures of Link: The Meltdown's Silver Lining
October 21, 2008 at 5:30 PM | 0 Comments
One perk of the worldwide economic crisis? It's affecting everyone, meaning our European neighbors (and their travel companies) are feeling a bit poorer too. The New York Times says that "relief is in sight" as prices for trans-Atlantic airfare (especially in posh first class), hotels and package deals are starting to fall.
It's specifics you want? Find links to some of the deals mentioned below. But remember: If you find a bargain, book it before it disappears.
Related Stories:
· Europe Returning to Land of In-Reach [NYT]
· Reykjavik Excursions Is Cheap Thanks to the Weak Krona [Official Site]
· Delta Business Class Fares on Sale [Official Site]
· Ireland on Sale with Aer Lingus [Official Site]
· EasyHotels Make Sleeping in Europe Affordable [Official Site]
· Worth Repeating: Icelandair Flights Are Super Cheap [Official Site]
Art
More London Street Art: In Loving Memory of the Boom Economy
October 16, 2008 at 1:00 PM | 0 Comments
Rest in peace... Economy. Street artist K-Guy installed this touching roadside memorial-style collage at one of the last known spots where big money was alive. Titled "In Loving Memory of the Boom Economy," the piece consists of dozens of bouquets of flowers and messages from fictional well-wishers.
It sits outside outside the Bank of England in Central London, and you can find more pictures of the installation on Flickr.
Related Stories:
· K-Guy [Official Site]
· In Loving Memory of the Boom Economy [Spareroom]
· Slinkachu's Little People in London [Jaunted]
[Photo: nolionsinengland]
Airports
Empty Terminals: The Saddest Photos in the World
October 14, 2008 at 1:05 PM | 2 Comments
Airline schedule cutbacks aren't just killing fliers--they're hurting airports that are built to be crammed full of people. Business at Ontario Airport in LA is hurting, says The Wall Street Journal, and improvement projects in Atlanta, Phoenix, Oakland and Las Vegas are now on hold.
But it doesn't take a worldwide financial meltdown to create desolate airport terminals. These utterly depressing-but-beautiful photos were snapped around the world well before the markets went bust.
Related Stories:
· Airports Suffer Terminal Illness [WSJ]
· Airports coverage [Jaunted]
Meltdownomics
Adventures of Link: About Those Deals in Iceland
October 13, 2008 at 5:30 PM | 0 Comments
So, yes, Iceland is on sale, and the country is facing some scary financial turmoil. But don't get the idea that it's all money riots and Wild West shootouts, says one Icelander in The Guardian:
Our currency might be in trouble and that hits us hard, our pay has been significantly devalued by rising costs, our stock exchange is still closed--but the foundations are still stable.
And despite what is written in the London tabloids, we still go to work every day, receive our salaries, pay our bills and gather in the pub in the evenings.
But there's the rub: Lost in all the hype that the króna is now super cheap--if you're buying it with dollars--is that prices will likely shoot up over the next couple months. So if you really do want to check out Iceland on the cheap, get to booking those tickets now.
Related Stories:
· Icelandair Winter Sale [Official Site]
· Frozen Out [The Guardian]
· Iceland on Sale for Next Year [BT]
· Arthur Frommer's Financial Crisis Travel Checklist [Frommer's]
· Iceland's Economy Turning to Tourism [Gadling]
[Photo of Iceland: ajagendorf25]
Iceland
Iceland Invites You to Take Advantage of its Economic Misfortunes
October 11, 2008 at 12:09 PM | 1 Comment
While pretty much the entire world took a bath in the financial markets last week, few countries got hit harder than Iceland. The elf-filled North Atlantic island saw its currency plummet, its three biggest banks fail, and its stock exchange close due to "unusual market conditions." But while the acute economic meltdown represents one of the biggest challenges the country has faced in generations, it also creates a great opportunity for travelers who had heretofore been dissuaded from visiting Iceland due to its notoriously lofty prices. Better still, rather than viewing opportunistic tourists as vultures swarming over carrion, the nation is welcoming them - and what little cash they have in their pockets - with open arms.
