I know most of you thought the Business Travel Sector of the U.S. economy did not affect you AND just maybe it still doesn't. It's not the stock market, it's not your company, and it's not your problem.
Moreover, it is none of your business and besides we all have problems now and you are too old to think about these things anymore.
Sadly, the problems of the Business Travel Sector of the U.S. economy are going to affect you and here's why.
The Business Travel Sector of the U.S. economy is so large. It is 15% of the U.S. economy and employs one out of seven workers in the U.S. (Point of reference:
Automobile business is only 10% of the economy and Washington D.C. has declared "it is too big to fail"). REALLY? Newsflash: Chrysler and GM are failing.
Question: What about the Business Travel Sector?
Answer: Washington D.C. never heard of that sector. Don't wait for your bailout.
It is not coming. You are not on the government's radar.
Question: How large is the Business Travel Sector in California?
Answer: In California, the Business Travel Sector generates $100 billion in revenue and employs one million workers.
The economic problem in the Business Travel Sector of the economy will spill over to the rest of the economy and will affect you personally. Here's why:
If you are employed by, own, finance, lease to, or use the following listed services, you will be affected: hotel, resort, restaurant, taxi, rental car, sedan service, shuttle, bus, airline, private jet any and all associated vendors, including airports.
If you work for the city, state, federal government. OR you pay taxes to the city, state or federal government, you will be adversely affected. If you are a vendor of any of these entities, you will be further adversely affected because you won't get paid.
The Business Travel Sector specifically refers to hotels, resorts, restaurants, airlines, ground transportation (buses, rental cars, taxis, and limousines), meeting and event planners, and large and small convention cities in the U.S.
How about the negative affect on related industries such as commercial real estate for restaurants, hotels, rental car, limousine, bus, airline, private jet not being able to pay their rents not able to pay their commercial leases?
How about the vendors who provide goods and services to all of these companies? The automobile industry is supported by the rental car industry. What about that? How big is this number? Does anyone really know? Does it affect you yet?
Who would have thought that the sleepy retirement community of Palm Springs was depending on the business travel industry? A restaurant near you may be closing. Does that bother you? Maybe not. Answer: You are going to learn to cook.
The business of America is business. Whether you are a pharmaceutical, limousine or lingerie company, you need to sell your products and/or services by meeting with your buyers, business partners, vendors, at a show, meeting or convention. It is a very cost-effective, time-efficient way to get together and make deals, for the year.
In fact, this method of doing business has been adopted and done this way all over the World. Suddenly, this time-honored, efficient method of doing business is Un-American.
The "unintended" consequences of the assault by government and the media on the Business Travel Sector of the U.S. Economy is putting thousands of people in unemployment lines; is directly responsible for salary reductions; and places otherwise full-time employees in "under" employed jobs, cutting hours and income with less benefits and/or no benefits. It is also keeping the stock market unstable.
Question: Are you interested in the problems of the business travel sector yet?
The Greater California Livery Association (GCLA) estimates that fully 30% of all the companies in California will be "out of business" by the end of 2009. So out of 6,000 businesses licensed with the California Public Utilities Commission (CPUC), 1,800 of them will be "out of business" by the end of this year in the state of California alone.
These "unintended" consequences for the Business Travel Sector are also expanding the problems in residential real estate, from the "bad loans" to commercial real estate. It takes money out of the city, state and federal tax coffers and puts more people in need of the "government" safety net. The American taxpayer is the safety net.
The problems evidenced in the Business Travel Sector of the U.S. economy are not a political point of view. These problems are a factual reality of the times in which we live. These facts are not debatable. The purpose of this email is to present you with the facts and get you interested in what is really happening in your city, state and country.
Palm Springs is one small sample of what is happening all over this state and country. I know each of you know people, restaurants, and hotels, or someone involved in this sector of the U.S. economy. Unfortunately, our problem will be coming to a location near you soon.
Read the news right out of the Desert Sun newspaper
sent to me by my friend Kitty West, a local Palm Springs Realtor.
Carpe' Diem!(Seize the Day!)
EVP & Legislative Chairman
Greater California Livery Association (GCLA)