that travel has declined for the first time since 9/11. Chauffeured transportation operators have been noticing this trend for almost a year now. What's most troubling is that these numbers only reflect the 4Q of 2008; the real damage is occurring in this quarter with the bungled bailout and stimulus packages, the AIG furor, the lack of coherence from the Obama Administration, and the idiotic populist rage against any and all corporate business travel. This item from the Wall Street Journal stands out, and unfortunately could be only the beginning:
"Overall, leisure and hospitality establishments shed 33,000 jobs in February and employment in the industry has dropped to 13.2 million from 13.5 million in February 2008, according to the Labor Department.."
Print | posted on Friday, March 20, 2009 3:17 PM