economic crisis

"Pink Slip Getaways" at Rabbit Hill Inn Extended Through 2010

I was having lunch with the colleague the other day, discussing the latest round of media layoffs. We both agreed that given a healthy savings account, the most sensible way to deal with a job loss in this economy is to wait it out, and the best way to do that is to travel.

Of course the economy wouldn't be in this mess in the first place if we all had healthy savings accounts, and so if you find yourself without a job and with a sadly diminished travel budget, the lovely Rabbit Hill Inn in Lower Waterford, Vermont has good news: its popular "Pink Slip Getaway" contest, which will go on hiatus for Fall foliage season, will continue through April 2010. Send your job loss story -- one page or less -- to Rabbit Hill by the new deadline of January 15th, 2010, and make it a good one. If your story is among the one a month selected, you'll get a two night stay with breakfast, one dinner and a rabbit's foot for good luck.

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Tags: bedandbreakfast, economic crisis, EconomicCrisis, economy, vermont

Cuban Cigar Sales Down, Bad Decisions Averted

by Tom Johansmeyer (RSS feed) —

Filed under: Cigars

Why are sales of Cuban cigars down? The minute the subprime mortgage crisis turned global, of course, demand had no place to go but down. And, there's always the quality issue that has plagued manufacturers in recent years. So far, the damage hasn't been bad.

Habanos S.A., which makes the storied Montecristo, Cohiba and Partagas brands, moved $390 million in 2008. That's a drop of 3 percent from 2007. The company, a joint venture involving the Cuban government and Altadis, says that this hasn't affected profits significantly.

Unsurprisingly, Habanos blames smoking bans in France, Germany and the United Emirates (among others) in addition to the financial crisis. If you can't find a place to smoke, you aren't likely to do it as much (a trial I endured in Scotland last year).

But, economic conditions are still the main event, particularly when you consider the secondary effects.

International travel took a dive last year ... to the tune of 11 percent. What's that mean? American cigar dilettantes weren't able to piss away as much on Cuban sticks as they may have in the past. Duty free shops thus moved fewer cigars than usual, with total sales in these venues down 24 percent from 2007 to 2008.

Despite the slip in sales and claims that profitability isn't seriously impaired, Habanos isn't optimistic about the future. On the subject of the U.S. embargo on Cuba, typically a favorite topic of speculation, the company would only say that it has "much worse problems to deal with in the world."

[Via Latin American Herald Tribune, photo by Steve Zak]

Tags: cigar, cigars, cohiba, cuba, cuban, cuban cigars, CubanCigars, economic crisis, economic downturn, EconomicCrisis, EconomicDownturn, economy, financial, financial crisis, financialcrisis, habanos, montecristo, mortgage crisis, MortgageCrisis, smoke, smoker, smokers, smoking, smoking ban, SmokingBan, tobacco, tobacco industry, TobaccoIndustry