Lisa Murphy's Blog

One of my dream trips is to travel through Africa on safari.  I was shocked to learn that a 12 night travel package through FIT Tours including airfare, lodging, meals and transfers started at $2500 per person.  (Although I didn't interview other travel companies, you'll find plenty if you do a quick search online.  If you are interested in South America, Kathy, one of our fab web producers, raves about www.costamar.com)

Based on what I found on travelocity.com and expedia, the airfare alone would cost me between $2200 and $4500!!!!

SO WHAT ARE THE BIG 5 GAME ANIMALS OF SOUTH AFRICA??  (drum roll, please)

LION

LEOPARD

ELEPHANT

BUFFALO

RHINO

You'll also find cheetah, giraffe, zebra and antelope.

Now if only I could see them all in person!!

For more of my interview with Erik Torkells from Budget Travel and Diane Panasci from FIT Tours, click here.

 

 

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TO MY FELLOW PET LOVERS,

THOUGHT YOU MIGHT ENJOY A LOOK AT THE LATEST ADDITIONS TO THE MURPHY HOUSEHOLD... LUCY & YOSHI.

THEY'RE WELSH CARDIGAN CORGIS. ORIGINALLY FROM WALES (AS THE NAME IMPLIES), OUR PUPPIES WERE BORN & BRED IN ARKANSAS. THEY ARRIVED BY PLANE LATE SUNDAY NIGHT...

MORE PIX TO COME!!

Sunday night, JP Morgan Chase upped its bid for Bear Stearns from $5 to $10 a share. Meantime, Bear's shares plummeted from $70 to less than $6.

As investors watch, the Federal Reserve reportedly does not favor of the higher price.

Click on the video to hear my take on it.

 

Catching up with Ed Begley, Jr. at the ECO: nomics conference. 

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THE PRESIDENT AND CONGRESS WOULD LIKE AMERICANS TO GO OUT AND SPEND. AFTER YESTERDAY'S SENATE COMPROMISE ON THE PRESIDENT'S ECONOMIC STIMULUS PLAN, IT LOOKS LIKE WASHINGTON IS WILLING TO GIVE OUT CLOSE TO $152 BILLION TO MAKE THAT HAPPEN.

ALTHOUGH THE PRESIDENT HAS NOT YET SIGNED THE ECONOMIC STIMULUS BILL INTO LAW, ONCE HE DOES OVER 100 MILLION AMERICANS ARE EXPECTED TO GET CHECKS BY AS EARLY AS MAY.

BUT WHAT HAPPENS IF AMERICANS DON'T SPEND THE CHECKS? SOME ECONOMISTS SAY "NOTHING". IF AMERICANS DON'T SPEND THAT MONEY, THE PRESIDENT WILL NOT GET THE ECONOMIC BOOST HE WAS PLANNING ON...

SO WHAT DO NEW YORKERS PLAN ON DOING WITH THEIR REBATE CHECKS? WE HIT THE STREETS TO FIND OUT...

ON THE LIGHTER SIDE OF BUSINESS REPORTING...

SNL: BROKER GIVING BAD ADVICE...

 

SNL: THE CHANGE BANK...

 

 

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FEELS A LITTLE BIT LIKE THE CALM BEFORE THE STORM TODAY...

THE MARKET IS BETTING ON A 76% PROBABILITY THAT THE FED WILL CUT BY ANOTHER HALF POINT TODAY...

WE'LL SEE IF TODAY'S REPORT ON GDP HAS ANY IMPACT...ACCORDING TO THE COMMERCE DEPT, THE ECONOMY GREW AT ITS SLOWEST RATE IN FIVE YEARS...THE LAST TIME WE FELT THIS WAY? THE 2001 RECESSION...

TO MAKE THE FEDS JOB EVEN MORE COMPLICATED...LOOKS LIKE INFLATIONARY PRESSURES HAVEN'T GONE AWAY...CORE PRICES IN 2007 WENT UP 2.1%...THAT'S ABOVE THE FED'S COMFORT ZONE OF 2%

CHECK IN AFTER 2:15 FOR NEWS ON THE FED'S ANNOUNCEMENT...

HERE'S MY AM UPDATE...

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WHAT IS A RECESSION? IT'S A POPULAR QUESTION THESE DAYS...

ACADEMICS DEFINE A RECESSION AS A DECLINE IN A COUNTRY'S GROSS DOMESTIC PRODUCT FOR TWO OR MORE SUCCESSIVE QUARTERS OF A YEAR.

BUT IN THE US, IT'S UP TO THE NATIONAL BUREAU OF ECONOMIC RESEARCH, NBER, TO TELL US WHEN THE ECONOMY IS IN A RECESSION AND THEIR DEFINITION IS A BIT MORE LONG-WINDED BUT MORE UNDERSTANDABLE (I THINK):

"A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they have been rare in recent decade."

SO WHEN WILL WE KNOW IF WE'RE IN A RECESSION? IT COULD TAKE SEVERAL MONTHS INTO IT BEFORE WE KNOW (FOR SURE). THE LAST RECESSION IN 2001 WAS ALMOST OVER BEFORE IT WAS GIVEN ITS OFFICIAL START DATE.

WE ARE STARTING TO SEE SOME SIGNS CONSISTENT WITH PRIOR RECESSIONS:

• DECLINE IN STOCK MARKET
• SLOWDOWN IN HOUSING INDUSTRY

BUT WE HAVE YET TO SEE:

• A DROP IN GDP FROM ONE QUARTER TO THE NEXT
• A RISE IN UNEMPLOYMENT
• MANUFACTURERS SADDLED WITH EXTRA INVENTORY

As much as we talk about globalization in the US, it's hard for most Americans to understand exactly what it means and how it works.  Not so for the Japanese especially now... 
Following today's 300+ point drop in the DOW, Japanese stocks are down close to 2%...the Nikkei 225 hitting its lowest level since October 2005.  Shares of familiar companies like Nintendo and Toyota are among the hardest hit today.
What does this have to do with the US?  For lack of a better technical term...ALOT.  The US accounts for more than 20% of Japanese exports.  Our country has been and remains the biggest export market for Japan.  So, if our economy slows down, some of the largest Japanese companies will suffer.
Today's a perfect example of how closely tied the US and Japan are...  
Toyota:  US accounts for 37% of sales...down close to 3%
Nintendo:  Wii is best selling video game console in US...down 2.6%
Sony:  US accounts for more than 25% of sales...down close to 2%
Matsuhita:  biggest maker of consumer electronics...down close to 5%
Getting back to globalization...if Japan and the US make up over 40% of the world's goods and services and international investment, what's going to happen to the rest of the world?  What countries are insulated?  Are any countries insulated?  Are we all in this together?
Still in colorado but watching the markets closely...Lisa
PS-see pic of me in a great Japanese restaurant called Fox Nut in Beavercreek, CO...

Hi Everyone, 
Bad week to be out with everything that's happening in the markets these days...
In Colorado this week for a little R&R with the kids and hubby...getting in lots of fresh air and having great fun in all the snow.
At the same time, I'm shocked to see that business is booming at these CO ski resorts...I was expecting to see lots of early season sales on skis, equipment and clothing but the local business owners tell me it's been a great season and it hasn't slowed down at all since the holidays.
One big reason...foreign tourists.  Apparently, the weak dollar has been bringing in Canadians, Australians, Russians, Brazilians, etc.  
According to one CO ski exec, in the past, US ski resorts have had to cut prices by 20% to 30% to stay competitive with ski resorts in Canada...but that's not the case this year.  With the loonie (the Canadian dollar) close to an all time high versus the dollar, Canadians are coming here to ski.
I've posted a picture I took yesterday.  I had to ask myself as I was staring down this run...if business is so great, "where is everyone???"  Take a look...it's just me and my shadow.
Talk soon,
Lisa


 

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