DailyFinance.comhttp://www.dailyfinance.comDailyFinance.comhttp://o.aolcdn.com/os/df/2013/img/2-dailyfinance_logo_m.pngDailyFinance.comhttp://www.dailyfinance.comen-usCopyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only.Blogsmith http://www.blogsmith.com/Luxist Report: What is the future of private jet travel?http://www.dailyfinance.com/2009/04/27/luxist-report-what-is-the-future-of-private-jet-travel/http://www.dailyfinance.com/2009/04/27/luxist-report-what-is-the-future-of-private-jet-travel/http://www.dailyfinance.com/2009/04/27/luxist-report-what-is-the-future-of-private-jet-travel/#commentsFiled under:

private jetFor the past six months, the private jet industry has been hit from all sides. Not only has the recession caused both businesses and high net-worth individuals to travel less, but the government has gotten involved.

Ever since the automakers who flew to Washington D.C. were grilled about how they got there, the private jet has become synonymous with excess and greed. And now everyone from CEOs to celebrities to Britain's royal familyare flying commercial. As Josh Smith over at our sister blog, WalletPop, put it, "private air travel is as uncool as taking your mom to prom."

Continue reading Luxist Report: What is the future of private jet travel?


Permalink | Email this | Comments

]]>air taxibusiness jetsCessnaColumnscorporate jetDayJetEclipse 500Eclipse AviationEd BolenGulfstreamPacific Coast Jetplanesprivate jetsRyan Dos RamosDeidre WoollardMon, 27 Apr 2009 13:45:00 ESTLuxist Report: Diamond cartel tries to pull an OPEChttp://www.dailyfinance.com/2009/04/14/the-diamond-cartel-tries-to-pull-an-opec/http://www.dailyfinance.com/2009/04/14/the-diamond-cartel-tries-to-pull-an-opec/http://www.dailyfinance.com/2009/04/14/the-diamond-cartel-tries-to-pull-an-opec/#commentsWhen the global economic crisis set in, few segments of the luxury market took it harder than jewelry. Big brands have been laid low and some fairly major retailers, including Fortunoff, Whitehall and Robbins Brothers have filed for bankruptcy. And hit hardest of all has been the diamond industry. While prices for gold (as is typical during uncertain times) have been on an upswing the past few months, diamonds prices have fallen steadily -- even precipitously.

The response from the diamond producers has been to take the well-trod path of cutting supply. De Beers has instituted work stoppages at some mines and reduced exploration projects in Africa and Canada. With fewer rough stones coming out of the mines, the ripple effect has spread to the diamond-cutting and -polishing centers in India. Some estimates say that as many as 500,000 diamond workers have lost their jobs. Many in the industry are wondering what happens next.

Continue reading Luxist Report: Diamond cartel tries to pull an OPEC


Permalink | Email this | Comments

]]>africabotswanacanadaColumnsde beersdiamondsin focusmartin rapaportsuratDeidre WoollardTue, 14 Apr 2009 11:00:00 ESTLuxury travel industry regroups amid downturnhttp://www.dailyfinance.com/2009/04/01/luxury-travel-industry-regroups-amid-downturn/http://www.dailyfinance.com/2009/04/01/luxury-travel-industry-regroups-amid-downturn/http://www.dailyfinance.com/2009/04/01/luxury-travel-industry-regroups-amid-downturn/#commentsFiled under:

There's no denying that times are tough for the travel industry right now. Everywhere you turn, a hotel or resort is offering a reduced price, a free night or some other incentive. Airlines are locked in price wars and issuing rock- bottom rates even as they charge for everything but the seat cushion.

In the luxury market, things are no better, and in some ways even worse. Mid-tier and luxury travel volumes have dropped off dramatically. Average Americans (even average well-off Americans) feel less inclined to splurge, and there's been a massive drop-off in corporate travel. With Wall Street firms feeling the heat, and companies everywhere looking to save, the sales retreats, meetings and client wining-and-dining that formed the backbone of the industry have virtually disappeared.

Continue reading Luxury travel industry regroups amid downturn


Permalink | Email this | Comments

]]>alan fuerstmannbeverly hillsdavid cushluxuryluxury travelmontageray brunnerresortstravel and leisuretrina turkvirgin americaDeidre WoollardWed, 01 Apr 2009 15:15:00 EST