Tag: USA

Warsaw is cultural capital with the lowest price tag

Posted by | May 16, 2008 | |

Culture vultures who want to save hundreds of pounds on the cost of an arts and entertainment-packed short break should head for Warsaw. The Polish capital was far and away the cheapest city for a cultural weekend away, according to the new Cost of Culture report conducted by Post Office® Travel Services.¹

Even though sterling buys 22 per cent fewer Polish zloty than a year ago, the GBP 75 price tag – which included visits to Warsaw’s historic art galleries, museums and heritage sites, together with nights at the renowned Polish National Opera, ballet and a symphony concert² – weighed in at less than 25 per cent of the equivalent London cost.

London proved by far the most expensive of the 10 cultural capitals surveyed by the Post Office®. Its itinerary of 10 cultural highlights, which included trips to the Royal Opera House, Buckingham Palace and the Victoria & Albert Museum, costs around GBP 308, despite the offer of free entry to its national museums and galleries.

By contrast, while the sliding pound has made Prague up to 25 per cent more expensive than a year ago, the Czech capital rates as great value for lovers of the arts. It was second only to Warsaw, at just under GBP 104 for a culture-filled trip.

The survey of Europe and North America’s top cultural centres included six eurozone capitals and, as with other price comparison reports by the Post Office®, revealed a huge disparity in costs between these destinations.

The Cost of Culture survey identifies the five best value choices for each of the six cultural categories researched (allowing one entry per city in each category)³ and found that Paris was the only city not to feature. However clued-up culture vultures can cut their costs by visiting Paris on the first Sunday of each month, when galleries are free.4

The Post Office® Cost of Culture survey is available online for holidaymakers to view at postoffice.co.uk/costofculture

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Access to Trade in Latin America Can be achieved through Improved Infrastructure

Posted by | May 15, 2008 | |

Even though Latin America has recently enjoyed its highest economic growth rates since the late 1970s, economic strength and momentum in other regions—Asia, Europe—overshadows its progress. Latin America is not advancing as rapidly and will continue to fall behind if businesses and governments do not prioritize spending on infrastructure and address regulatory barriers.

In Latin America, poor transportation infrastructure and regulatory barriers undermine the region’s competitive strengths. Across most Latin American countries, less than one-third of the national road network is in good condition. The Organization for Economic Co-operation and Development (OECD) suggests that although proximity to the U.S. is a competitive advantage to Latin America, this edge is quickly eroded by an insufficient network of roads, ports, railways and airports. Insufficient infrastructure drives up transaction and transportation costs, and this impairs Latin American countries’ competitiveness with hot markets like China. To grow and compete aggressively with other markets, it is imperative that Latin America improve its infrastructure to lower transaction and transportation costs.

To compete successfully with rapidly growing economies in the global marketplace, key stakeholders from both the public and private sectors need to foster and develop partnerships to build stronger physical transportation networks. Businesses large and small must collaborate with government and non-profit organizations in new and innovative ways. Of the top 100 economies in the world, 51 are corporations and 49 are countries. Without a doubt, corporations, and governments play comparable roles to shaping the global economy.

While Latin American governments have recently increased investments in infrastructure development, we cannot rely solely on their efforts. In addition, businesses must forge partnerships with governments to establish procedures that facilitate trade and eliminate any unlawful practices. Efficiency in cross-border trade flows would significantly increase. Improved and increased transportation infrastructure across Latin American countries would create better cohesion and economic strength, allowing governments and organizations to work more closely together and give businesses the economic framework to grow and expand their market reach with more speed and frequency.

With so much promise for potential growth and progress, it would be a disappointment if Latin American businesses and governments can’t build the partnerships necessary for our commerce and citizens to thrive in the global marketplace.

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Economy and Internet challenge U.S. Postal Service

Posted by | May 14, 2008 | |

Despite a slowing economy and growing competition from the Internet, the U.S. Postal Service aims to break even in 2008 by increasing its package delivery business by about 10 percent, a top executive told Reuters on Wednesday.

The Postal Service will eventually be profitable, but that goal must be balanced against giving customers the best price possible, said Patrick Donahoe, the chief operating officer and deputy postmaster general.

This year, the Service expects about 10 percent growth in Priority Mail, Express Mail and related products that compete with Fedex Corp, United Parcel Service and other companies, Donahoe said. That group of products now makes up about one-tenth of the Service’s business, with First-class mail and periodicals accounting for the rest, he said.

To attract more business from small companies, the Service began offering price discounts to high-volume Express Mail shippers and commercial Priority Mail customers on Monday. The discounts were made possible by a 2006 law giving it more freedom to customize pricing of package delivery products.

As the Postal Service attempts to enhance its package business, the slumping economy has cut revenue below expectations.

With businesses sending less mail, the Service lost USD 707 million in its fiscal second quarter as mail and package volume fell 3.3 percent. During the first half of its fiscal year, the Service reported a net loss of USD 35 million while generating USD 39 billion in revenue.

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FedEx names Brian D. Philips President and CEO of FedEx Kinko’s

Posted by | May 14, 2008 | |

FedEx Corp. announced Brian D. Philips has been promoted to President and Chief Executive Officer of FedEx Kinko’s. Philips, Executive Vice President and Chief Operating Officer of FedEx Kinko’s, has been acting CEO since March 31.

In his role as COO, Philips’ responsibilities included FedEx Kinko’s strategic direction, product and service vision, as well as overseeing the company’s worldwide business performance, including operations, retail sales, marketing and strategy functions.

Philips joined FedEx in October 1993. He served as vice president of U.S. Marketing at FedEx Services, where his responsibilities included retail strategy and marketing, advertising, global brand management, segment marketing, and sponsorship marketing efforts.

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