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It was a historic election in Georgia that saw changing tastes and shifting tides among voters across the state. The coverage was extensive and the experts from front and center in local and statewide media lending their expert perspectives and opinions to reports and journalists about the results. “A political science associate professor on Georgia Southern’s Armstrong Campus in Savannah says all the women who made history in Tuesday’s election overcame significant obstacles with their campaigns in Bulloch and Chatham counties. “Those three new women beat incumbents and that’s very unusual,” said Dr. Lara Wessel. “So when we see women or men beating incumbents, again we want to look to try to figure out what’s going on behind those election results. “What it says to me is that the citizens of Statesboro and the citizens of Savannah are interested in change.” Dr. Wessel adds that the five women who won elections are much more than trailblazers, they’re local proof female candidates can break through barriers that have held women out of some local political offices for centuries.” November 06 – NBC News Soon, Savannah will be welcoming four new aldermen, and two new alderman-at-large. “It’s majority progressive. It’s majority female. It’s majority community activists. A lot community activists," said Georgia Southern Associate Professor of Sociology Dr. Ned Rinalducci … “We’re going to see a shift to deal with things like affordable housing, homelessness, and less on development and tourism,” said Rinalducci. Rinalducci said the city saw a turnover back in 2015-ushering in more pro-business candidates. He said this election’s shift towards could be a sign of dissatisfaction with voters. “I think clearly there’s some discontent with the priorities of city government previous, and I think that was communicated clearly with yesterday’s election results," said Rinalducci. November 06 – ABC News The coming twelve months are going to be a busy one for political reporters across the state and country. If you are a journalist looking for political experts who can be a solid source of context and perspective for your stories – let us help. Dr. Lara Wessel and Ned Rinalducci are both available to speak to media about politics, elections and issues affecting voters. Simply click on either expert’s icon to arrange an interview. https://fox28media.com/news/local/municipal-election-draws-low-turnout-equates-to-sweeping-changes-in-savannah-races
Why are the wolves of Wall Street so worried about Elizabeth Warren?
Elizabeth Warren started her campaign for the presidency far from being the front-runner. She trailed the likes of Joe Biden and Bernie Sanders dramatically, often in third place or worse and usually in single digits. But her resolve stood, she provided plans and policy planks. And … she found a target and took aim at the wealthy. All of her ideas that include costly policies about health care and education come with billion- and even trillion-dollar price tags. Usually these concepts are laughed off the debate stage – but Warren carefully and strategically costed them out. And those covering the costs of her ideas are the banks along with the rich and wealthy. Her ideas caught fire with supporters and now Warren is seen as a legitimate contender for the White House. It has some nervous and many taking notice. It’s a role that Ms. Warren unabashedly embraces, as an increasing number of voters, as well as a few veterans of the finance industry, see her as the policymaker who can address the growing wealth gap in the United States and take on the corruption and excess in the business world. Ms. Warren has made battling corporate greed and corruption a central theme of her fiercely populist campaign, mixing anti-elitist oratory with policy plans calling for sweeping new regulations. On Friday morning she released an ambitious proposal to pay for her “Medicare for all” program, with provisions directly affecting Wall Street: aggressive new taxes on billionaires, an additional tax on financial transactions like stock trades and annual investment gains taxes for the wealthiest households. Just hours later she told an audience in Iowa: “Our democracy has been hijacked by the rich and the powerful.” Interviews with more than two dozen hedge-fund managers, private-equity and bank officials, analysts and lobbyists made clear that Ms. Warren has stirred more alarm than any other Democratic candidate. (Senator Bernie Sanders, who describes himself as a socialist, is also feared, but is considered less likely to capture the nomination.) November 04 – New York Times Are you a journalist covering the race for the Whitehouse? Then let our experts help. Dr. Stephen Farnsworth is professor of political science and international affairs at the University of Mary Washington. A published author and a media ‘go-to’ on U.S. politics, he is available to speak with media regarding this topic. Simply click on his icon to arrange an interview.
At first glance, it just seems like an obvious next step as online retail and same day delivery are pushing forward at lightening speeds. But recently, companies like UPS, CVS and WakeMed are exploring the idea of drugs and other health related items being delivered by drone. An M2 drone developed by UPS partner Matternet made the deliveries. The drone flew autonomously but was monitored by a remote operator who could intervene if needed. In each case, it hovered about 20 feet above the delivery destination and lowered its package to the ground using a winch and cable. The deliveries mark an expansion of UPS' partnership with Matternet, established in March to deliver medical samples using unmanned drones at WakeMed's flagship hospital and campus in Raleigh, North Carolina. The partnership has logged more than 1,500 drone deliveries at WakeMed so far. UPS subsidiary UPS Flight Forward (UPSFF) plans to build out its ground infrastructure to expand to other industries. "UPS is exploring and developing drone delivery in various industries, including some that need drone delivery to homes," said company spokesperson Kyle Peterson. The residential deliveries also represent an expansion of UPS' partnership with CVS. UPS began setting up package pickup and return locations in CVS stores nationwide this summer. The two are collaborating to develop drone delivery options, and UPS plans to expand drone deliveries beyond healthcare facilities. November 08 - TechNewsWorld https://www.technewsworld.com/story/86342.html It’s fast, and convenient – but is it right? Morvarid Rahmani has these findings that relate to the newest drone capabilities and approval to move forward from the FAA: It is exciting to hear about the FAA approval of using drones for delivering medical packages. Using drones to deliver medical packages can give rural communities access to products and medical supplies, which they would not be able to access otherwise. This delivery model is a way of incorporating social concerns and conditions of underserved populations into business practices. ·Successful implementation of inclusive business practices requires collaboration of for-profit firms with the public sector, civil society organizations, and communities. Using drones to deliver medial packages is a great example of collaboration between a governmental agency and for-profit companies, which is toward the dual goals of promoting efficiency and inclusion. Technology-driven innovations such as delivery drones or driverless vehicles not only facilitate last-mile delivery, they help with the inclusion of new sets of “customers”, especially those in remote locations or rural areas with poor infrastructure. Delivery drones are results of “technology push,” i.e., the solution came prior to the identification of the problem. These technologies enable inclusive retailing and distribution for large (excluded) communities all over the world. We know other retail giants (Amazon, Walmart, etc.) are going to use drones in the future but are they eyeing this option too or do they already have a plan ready? Do the risks outweigh the reward when it comes to safety and ensuring the proper prescription reaches the right patient? Is there enough oversight to ensure that criminal elements or corruption are kept at bay? Who is liable for the delivery? Or, is this just part of our evolving world that is coming and that it needs to be regulated by accepted? There are a lot of questions about the technological advancement of drones in supply chain – if you are a journalist covering this topic – let us help with your coverage. Morvarid Rahmani is an Assistant Professor of Operations Management at Scheller College of Business at Georgia Tech. She is an expert in the areas of research is on collaboration in work processes such as new product development, management/IT consulting, and education. Dr. Rahmani is available to speak with media regarding this topic – simple click on her icon to arrange an interview.
The Great Recession: The downturn that wouldn’t end
The Great Recession ended 10 years ago, but University of Rochester economist Narayana Kocherlakota says it is still very much with us. David Primo, associate professor of political science and business administration, agrees that the country continues to feel the effects of the recession, though his take differs from Kocherlakota’s. And Lisa Kahn, a professor of economics at the University of Rochester, sees another lasting effect from the Great Recession. “Unemployment is very low right now, leading people to think that we’ve recovered,” says Kocherlakota. “Income levels, however, are now as much as 15 percent below where they might have been, if not for the recession.” Many economists blame the income slowdown on a natural decrease in the rate at which new ideas are discovered. But Kocherlakota, former president of the Federal Reserve Bank of Minneapolis, attributes it to something else. “Businesses don’t want to lock up money in physical investments because they’re nervous about another Great Recession,” he says. “That’s why there’s less innovation, and that’s why we have an income slowdown.” The Great Recession began in December 2007 after the bottom fell out of the US housing market. That was followed by a shortage of assets in the financial markets and the collapse of the financial sector, including banks, credit card companies, and insurance companies. The recession, the worst in the US since the Great Depression of the 1930s, officially lasted through June 2009, though unemployment levels didn’t peak until October of that year. According to Primo, the losers were homeowners, among others. The banks, which many observers say bear some responsibility for the recession, were bailed out by the government, while homeowners were not. That perceived double standard has led to the Occupy Movement, support for Democratic presidential candidate Bernie Sanders, and the election of Donald Trump, according to Primo. “Economists may be 100 percent correct in saying it was necessary to bail out the banks,” says Primo. “But that’s a difficult political argument to hear if you lost your house, while banks were bailed out.” Says Kahn: “Many firms take the opportunity provided by a recession to introduce technologies that reduce their reliance on workers. In the old days, we had bank tellers giving out money; now machines can do that,” she says. “In manufacturing, we’re shifting more and more to machines instead of workers. And a lot of that shift takes place during recessions.” Kahn points out that wages and employment have been falling for the last 30 years in exactly the types of jobs that are increasingly performed by machines. Kahn identifies an additional recession-related phenomenon, one that specifically targets college graduates. “It has always been bad to graduate during a recession,” says Kahn. “But the lost earnings from the Great Recession are much larger than they were in previous downturns, and it’s something that will stay with them long term.” Not only are fewer jobs available, the graduates find themselves competing against experienced workers who had recently been laid off. The net result is persistently lower wages.
U.S. economy continues to expand, but at a slower pace, reaching about 2 percent growth in 2020
INDIANAPOLIS -- The U.S. economy will continue to expand for a 12th consecutive year in 2020, but by only about 2 percent and struggling to remain at that level by year's end. Indiana's economic output will be more anemic, growing at a rate of about 1.25 percent, according to a forecast released today by the Indiana University Kelley School of Business. Over the past year, political dysfunction and international trade friction have disrupted supply chains and eroded both consumer and business confidence. U.S. employment has grown during 2019 but will decelerate throughout 2020, well short of 150,000 jobs per month and possibly to about 100,000 by year's end. A tight labor market will continue to be an issue for many companies. "The total number of job openings in the economy peaked in late 2018," said Bill Witte, associate professor emeritus of economics at IU. "Average hours worked have been flat over the past year, and auto sales have been flat for nearly two years. Given the reliance of the U.S. economy on consumer spending, these are disturbing signs. But they are vague signs, and not enough to convince us that the end of the expansion is in sight. "We expect that growth will be weaker than in the past two years, and this outlook is likely a best-case outcome," he added. "There is massive uncertainty in the current situation." The Kelley School presented its forecast this morning to Indianapolis community and business leaders at IUPUI. The Business Outlook Tour panel also will present national, state and local economic forecasts in seven other cities across the state through Nov. 20. Indiana's more meager economic growth expected in 2020 can largely be attributed to the outsized presence of manufacturing and particularly tight labor markets, said Ryan Brewer, associate professor of finance at Indiana University-Purdue University Columbus and author of the panel's Indiana forecast. Manufacturing contracts more rapidly versus other areas of the economy, and tight labor markets limit employers' capacity to grow, he said. Expectations about business investment have fallen short, and corporations have been buying back stock instead of making capital investments. The trade war with China and slowing global expansion have also affected state manufacturers. The world is about to record its slowest economic growth since the financial crisis of 2009. Next year, global growth is projected at 3.4 percent, with downside risks continuing to build. China and the European Union each face structural issues amid tariffs imposed by the United States. Brexit remains unresolved. Recent data from the Institute for Supply Management showed that manufacturing activity has slowed to its lowest rate since the beginning of the Great Recession. Indiana has sought to diversify its economy in recent decades, but manufacturing output represents nearly 28 percent of gross state product. Indiana continues to lead the nation in manufacturing employment, with more than 17 percent of its jobs in that sector. "Constrained by a historically tight labor market, Indiana is expected to experience slow growth in jobs and gross output, along with the possibility for continued rising wages," Brewer said. "With fewer and fewer available people to hire, tightness of the Indiana labor markets will serve as a drag to output and employment growth." The outlook for the Indianapolis-Carmel-Anderson metropolitan statistical area is slightly better, with expected growth between 1.5 and 2 percent. "Indianapolis continues to draw in talent and investment that should help it exceed the overall state level of growth," said Kyle Anderson, clinical assistant professor of business economics. "However, there is risk that weakness in the broader economy, and especially weakness in manufacturing, could make this forecast too optimistic." Other highlights from the forecast: The national and state unemployment rates will hold steady. The nation's rate could be below 4 percent by year's end, and the state will stay at or below full employment through 2020. Inflation will rise and end 2020 close to the Federal Reserve's 2 percent target. The stock market will struggle to get average returns with headwinds from trade, supply chain disruption and policy uncertainty. Earnings continue to exceed expectations, yet lack of definitive trade consensus continues to drive headwinds. Interest rates will remain low. The 10-year Treasury rate should stay below 2 percent and mortgages below 4 percent. Speculative grade bond yields have been rising, indicating increased risk of insolvency for marginal firms. Entry-level wage growth could cause costs to rise, earnings to fall and growth to stagnate for firms heading into 2020. Energy prices will be relatively stable, with average prices similar to those in 2019. Business investment will remain weak, although a little improved from this year. Housing will achieve a meager increase, ending two years of negative growth. Government spending will grow, but much more slowly than the past year, as the impact of the 2018 budget deal ends. The starting point for the forecast is an econometric model of the United States, developed by IU's Center for Econometric Model Research, which analyzes numerous statistics to develop a national forecast for the coming year. A similar econometric model of Indiana provides a corresponding forecast for the state economy based on the national forecast plus data specific to Indiana. A select panel of Kelley faculty members, led by Indiana Business Research Center co-director Timothy Slaper, then adjusts the forecast to reflect additional insights it has on the economic situation. A detailed report on the outlook for 2020 will be published in the winter issue of the Indiana Business Review, available online in December. In addition to predictions about the nation, state and Indianapolis, it also will include forecasts for other Indiana cities and key economic sectors. Presenting the forecast at the Indianapolis Business Outlook Tour event were Phil T. Powell, associate dean of Kelley academic programs at Indianapolis and clinical associate professor of business economics and public policy; Cathy Bonser-Neal, associate professor of finance; and Anderson.
Fifty years ago, the first computer-to-computer connection was made through ARPANET, the precursor to the modern internet. What will the internet look like 50 years from now? That's the topic of a new report by Elon University's Imagining the Internet Center and Pew Research. The report, "The Next 50 Years of Digital Life," is part of a series on the future of the internet and features insights from 530 technology pioneers, innovators, developers, business and policy leaders, researchers and activists. They were asked to respond to a series of questions about how individuals' lives might be affected by the evolution of the internet during the next 50 years. “In just 50 years the internet grew from a handful of interlinked computers to a worldwide network connecting billions of active users across all corners of the globe,” said Kathleen Stansberry of Elon University’s Imagining the Internet Center, the lead author of the report. “This vast experiment in human collaboration has not been without cost, but these experts believe that by enacting thoughtful reform today the vision of the internet as a tool of equality and enlightenment can still be realized.” Overall, 72 percent of these respondents said they hope and expect that the next 50 years might bring significant change for the better; 25 percent say they fear there could be significant change for the worse and 3 percent said they expect there will be no significant change. You can find a list of key themes from the report here, and the full report, including scores of comments from experts, here. If you're interested in talking with Professor Stansberry about the report, please reach out to Owen Covington, director of the Elon University News Bureau, at ocovington@elon.edu or (336) 278-7413. Professor Stansberry is available for phone, email and broadcast interviews.
Is the bubble bursting – and does America need to prepare for an economic slowdown?
With every news story about trade, tariffs, interest rates, global instability and political chaos…comes with it a hint that each incident could take a toll on America’s economy. And it seems that sub-plot may be slowly becoming a self-fulfilling prophecy for the current administration in Washington. A recent article in Forbes pointed out that most key indicators seem to be pointing down. Trump’s monthly job results are decelerating Trump’s job growth falling short of Obama’s last six years Wage growth is the lowest in a year September quarter GDPNow forecast lower than June’s 2.0% result It seems as if all of these ingredients combined, a slow down and potential recession or worse could be looming. Are you a journalist covering the short and long-term outlook of America’s economy? If so, let our experts help with your stories and coverage. Jeff Haymond, Ph.D. is Dean, School of Business Administration and a Professor of Economics at Cedarville and is an expert in finance and trade. Dr. Haymond is available to speak with media regarding this topic – simply click on his icon to arrange an interview.
On August 3, 2019, a white power-inspired gunman killed 24 people and injured 22 others at a Wal-Mart in El Paso, Texas. We tend to understand mass shootings as isolated events committed by “lone wolf” gunmen who might have mental health problems, but what we know about the El Paso gunman – as well as the terrorists who carried out mass killings at the Al Noor Mosque and Linwood Islamic Center in Christchurch, New Zealand in March 2019, the Tree of Life Synagogue in Pittsburgh in 2018, and at the Emanuel African Methodist Episcopal Church in Charleston, South Carolina in 2015 – tell a different story. The evidence investigators have complied shows that these white-power terrorists had never met one another, but that they lived in an on-line world created by 4chan, 8chan, and white-power organizations’ websites, where they consumed racist ideas and propaganda that shaped their decision to kill African-Americans, Muslims, Jewish people, and Mexicans and Mexican-Americans. We also know that white-power terrorists have particular goals in mind. Message boards like 8chan reveal a competition among participants about who can top the number of people killed in the last mass shooting. There is also a strong belief expressed on-line that killing racial minorities will foment a race war and allow white-power advocates to create an all-white world. I describe these terrorists as advocates of white power because it is important to understand that “white power” and “white nationalism,” a term often used in the media to describe the perpetrators of recent mass killings and the movement that animates them, are not the same thing. White nationalism calls to mind an effort to shore up the interests of white people within the American nation as it currently exists. The white-power movement, on the other hand, imagines a transnational, Aryan nation of white people living in an all-white world after wiping out non-whites. This might sound far-fetched, but does not mean that those who carry out mass killings in pursuit of this goal are mentally ill. Rather, their actions are the result of a white-power ideology fostered and spread on-line. What is new about how white-power advocates communicate with each other is that some of it now happens on-line. Interaction between racists who never met one another, however, has a long history in the United States. Approximately 4,100 African Americans were lynched between the end of the Civil War in 1865 and the 1960s. The white perpetrators of these lynchings lived hundreds of miles apart and often did not know one another, but they were united in a collective effort to enforce Jim Crow white supremacy in the American South (I use “white supremacist” here because white southerners who carried out lynchings did not, broadly speaking, subscribe to white power as the current movement defines it: the creation of a transnational, Aryan nation of white people living in an all-white world after wiping out non-whites). Lynchings were sometimes public events that drew hundreds or thousands of people with the purpose of “teaching” southern African Americans what would happen to them if they violated the rules of Jim Crow. Southern newspapers ran stories that justified lynchings; perpetrators took pieces of flesh, body parts, and hair from lynching victims as souvenirs and passed them around; and white southerners took lynching photographs, turned them into postcards, and mailed them to friends, family, business associates, and fellow travelers in the white supremacist movement. This racist community building had the goal of creating and maintaining white supremacy and, of course, it all happened without the help of the Internet. Communication, whether on-line or through the more traditional means has played an integral role in fostering and perpetuating racial violence and hatred. If you are a reporter covering this topic – let one of our experts help. Dr. Anthony DeStefanis is an associate professor of history at Otterbein University. He specializes in modern U.S. history with an emphasis on labor and the working class and immigration, race, and ethnicity. Dr. DeStefanis is available to speak with media regarding the history of racial violence in America – simply click on his icon to arrange an interview.
Baylor Faculty Member Earns $5 Million Grant to Study Meal Deliveries for Rural Students
Baylor University’s Texas Hunger Initiative has taken an important step this week in helping move the University towards its Research 1/Tier 1 aspirations with the announcement of a $5 million grant to expand access to food for students living in rural Texas communities. Kathy Krey, Ph.D., assistant research professor and director of research and administration for Baylor’s Texas Hunger Initiative, has been awarded the three-year grant from the United States Department of Agriculture for a research project aimed at testing a novel approach to distributing food during the summer to rural students age 18 and under. The grant is from USDA’s Food and Nutrition Service. According to the National Center for Education Statistics, more than 3 million children in Texas receive free or reduced-price meals during the school year. During the summer when schools are not in session, food is available to eligible families through federal and state programs, but some students – particularly those who live in rural areas – may have difficulty accessing the food programs, leaving them without consistent access to nutrition. “The current solution to this problem, the federal Summer Food Service Program, doesn’t fit every scenario, because it requires that students congregate at a summer feeding site, often at a school or other central location,” Krey said. “Especially in rural areas, which Texas has a lot of, those meal sites can be less effective because there are transportation, cost or awareness barriers for students who are more broadly dispersed from schools and other potential meal sites.” Improving access to summer meals through mail delivery Krey and her colleagues at THI will be testing a program where families in selected areas of the state who don’t have access to a summer meal site can receive food deliveries through the mail. Grant funding will be used to purchase shelf-stable, nutritionally complete meals, including fruits and vegetables, which are packaged and delivered directly to families. The goal in designing this program, Krey said, is not to eliminate site-based summer feeding programs, but to supplement them with other mechanisms that can be more effective for Texas students whose food needs may not be met by the current system. “We envision a future in which summer feeding sites still exist. In communities where populations are centrally located, the site-based model can make a lot of sense, but we know that it’s going to take a lot of innovative solutions to meet the diversity of the problem especially in a state like Texas that has so many different geographies and different realities in terms of population density,” Krey said. The dual problems of hunger and poverty are closely related since students who don’t have access to healthy meals are at greater risk of low academic achievement and disciplinary problems. A failure to address nutritional deficiencies, Krey said, can contribute to a cycle of poverty that continues from generation to generation. “Research has proven that students need consistent access to healthy food to perform optimally in school,” she said. “If we think about generational poverty, education is such a key factor in students’ being able to break that cycle, and one way they can be equipped to do that learning is by having regular access to nutritious food. “In the summer, there aren’t as many resources and opportunities to get food, which is why it’s so important that we figure out innovative ways to use public and private resources to make sure that low-income kids have access to food during the summer,” she said. The grant also will provide research opportunities for undergraduate and graduate students. Andrea Skipor, graduate student in Baylor’s Diana R. Garland School of Social Work, said her work with the project provides important experiences in application of the concepts taught in class. “In social work, evidence-based practice is a huge part of what we do,” Skipor said. “We learn so much in a classroom, but we don’t always get the opportunity to use it. This project has really given me a way to use my social work and community research skills in a way that has sparked an interest in research for my future practice.” Krey credits students like Skipor with providing invaluable assistance in carrying out important research. “We’ve been really honored with the student researchers and student workers who have come alongside us and acquired great experience in designing a pilot research project. We’ve been so impressed with the Baylor University students’ talent and commitment and we’re really honored to have them as part of this project,” Krey said. The Texas Hunger Initiative is a multi-disciplinary project dedicated to ending hunger through research and innovation and committed to strengthening public policy to address domestic food insecurity. Jeremy Everett, founder and executive director of THI, said the organization was founded on a realization that complex societal problems like hunger and poverty need solutions that leverage the resources of the public and private sectors, faith-based organizations and university researchers. The initiative’s broad-based approach includes a widely-dispersed staff that can observe problems first-hand to come up with evidence-based solutions. “We have field staff throughout the state working in a learning-lab capacity. The average researcher might have their own laboratory. Our laboratory is the state of Texas,” Everett said. It’s a strategy that Everett said is fundamental to Baylor’s mission to positively impact the lives of people in need. “We want to leave society better than we found it,” Everett said. “Our faculty and students want to be engaged in research and evaluation, but they also want to see how that makes a difference in a young child getting access to food who previously wouldn’t have had it without that engagement.” ABOUT BAYLOR UNIVERSITY Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 17,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 90 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. ABOUT THE TEXAS HUNGER INITIATIVE AT BAYLOR UNIVERSITY The Texas Hunger Initiative (THI) at Baylor University is a capacity-building and collaborative project, which develops and implements strategies to end hunger through policy, education, research, community organizing and community development. THI works to make the state food secure by ensuring that every individual has access to three healthy meals a day, seven days a week. THI convenes federal, state and local government stakeholders with non-profits, faith communities and business leaders to create an efficient system of accountability that increases food security in Texas. THI’s work is supported by the Walmart Foundation, No Kid Hungry, and PepsiCo’s Food for Good. Along with its office located within the Diana R. Garland School of Social Work at Baylor, THI has offices located in Austin, Dallas, Houston, Lubbock, McAllen and San Angelo. For more information, visit www.baylor.edu/texashunger.
Are the days of the traditional travel agent done? Let our experts help!
For explorers, those needing a vacation and those tripping abroad – the news of long-time travel company Thomas Cook suddenly going bankrupt came as a shock. One of the oldest travel agencies in the world, Thomas Cook was rooted in brick and mortar operations and has amassed some serious debt. That coupled by its dwindling business that was being lapped up by popular online travel options – the preferred choice of younger travelers - meant the end was near. “As it struggled to pitch itself to a new generation of tourists, the company was hit by the 2016 coup attempt in Turkey, one of its top destinations, and the 2018 Europe-wide heat wave which deterred customers from going abroad. Thomas Cook needed another 200 million pounds on top of a 900-million-pound package it had already agreed, to see it through the winter months when it receives less cash and must pay hotels for summer services. The request for an additional 200 million pounds torpedoed the rescue deal that had been months in the making. Thomas Cook bosses met lenders and creditors in London on Sunday to try to thrash out a last-ditch deal to keep the company afloat. They failed.” September 23, Financial Post Travel agencies, much like film for cameras – are becoming a thing of the past and all part of our more digital and modern society. But what’s next for the travel industry? What do those looking to seek out adventure and travel need to be wary of? Are there any other companies on the brink like Thomas Cook? If you are a reporter covering this story – let our experts help. Steve Moss is a professor at Georgia Southern University and specializes in tourism, forecasting and quantitative methods. Steve is available to speak with media regarding this topic – simply click on his icon to arrange an interview.
