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The occupancy rate of San Diego hotels plunged to 64.5% in April from 74.4% in April of 2008, according to Smith Travel Research. That was a 13.3% drop. Revenue per available room (called RevPAR) plunged 27.2% from a year earlier. Other California tourism destinations did better in RevPAR, but were down: Orange County down 18.7%, Los Angeles down 25.5% and San Francisco down 18.2%. Chicago had the largest April drop in RevPAR: 34.5%, notes Jerry Morrison, La Jolla hotel guru. For the year to date through April, San Diego occupancy was down 13.3% and revenue per available room was down 22.7%. "Year to date, New York has the dubious distinction of leading the pack and is down 30.7%" in RevPAR, says Morrison.

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Comments

SurfPuppy619 May 29, 2009 @ 12:19 p.m.

Hey, here is an idea-let's raise the TOT and see if that raises the occupancy level!

Isn't that one of the hundreds of taxes our public employees want to see raised to continue funding their Cadillac pay and benefits?

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shizzyfinn May 29, 2009 @ 1:52 p.m.

Man, SurfPuppy, if public employee pay and benefits bug you, the ridiculous compensation commandeered by CEOs and other execs must drive you absolutely bonkers. Here's how we're really getting robbed:

"In 1965, U.S. CEOs in major companies earned 24 times more than an average worker; this ratio grew to 35 in 1978 and to 71 in 1989. The ratio surged in the 1990s and hit 300 at the end of the recovery in 2000. The fall in the stock market reduced CEO stock-related pay (e.g., options) causing CEO pay to moderate to 143 times that of an average worker in 2002. Since then, however, CEO pay has exploded and by 2005 the average CEO was paid $10,982,000 a year, or 262 times that of an average worker ($41,861)."

http://www.epi.org/economic_snapshots/entry/webfeatures_snapshots_20060621/

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Don Bauder May 29, 2009 @ 2:14 p.m.

Response to post #1: However, San Diego's TOT is a good deal lower than hotel taxes elsewhere. Few major tourist destinations are lower. From a competitive standpoint, an increase might not hurt as much as you or the hotel industry think. Best, Don Bauder

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Don Bauder May 29, 2009 @ 2:18 p.m.

Response to post #2: The average CEO of large companies brings home $14 million to $15 million a year -- salary, bonus, stock options, etc. On Wall Street, the average CEO will make $50 million to $100 million. Some heads of hedge funds bring home more than $1 billion a year. This is vile, anti-social, dangerous. Best, Don Bauder

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SurfPuppy619 May 29, 2009 @ 3:52 p.m.

Man, SurfPuppy, if public employee pay and benefits bug you, the ridiculous compensation commandeered by CEOs and other execs must drive you absolutely bonkers.

You won't get any support out of me for those CEO pay packages-I have always said they are a scam. Impossible to defend and I never have.

But for just one of the 20-30 Fortune 100 CEO's that get those types of insane pay packages there are several million public employees pulling down similar scams-especially "public safety" jobs-where the compensation package can be 10 times what the "average" person in the jurisdiction makes.

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SurfPuppy619 May 29, 2009 @ 3:54 p.m.

Some heads of hedge funds bring home more than $1 billion a year. This is vile, anti-social, dangerous. Best, Don Bauder

By dbauder 2

Does anyone remember the "French Revolution"??

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Don Bauder May 29, 2009 @ 4:08 p.m.

Response to post #5: To me, the pay packages of almost every head of Fortune 500 companies are insane. Probably the only exception is the head of Costco, a former San Diegan. Best, Don Bauder

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Don Bauder May 29, 2009 @ 4:32 p.m.

Response to post #6: Funny, I was thinking of posting something on the French Revolution. I will post something I have posted before. It came out of a satirical movie by Mel Brooks. One of the bowers-and-scrapers at court rushed up to King Louis and screamed, "The peasants are revolting!" Said Louis, "That's right. They stink on ice." Best, Don Bauder

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SurfPuppy619 May 29, 2009 @ 8:15 p.m.

The peasants are revolting!" Said Louis, "That's right. They stink on ice."

Funny!

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photog May 29, 2009 @ 8:28 p.m.

Too bad what is happening in Tijuana and Baja California. It has really affected visitors to San Diego. That used to be the #1 attraction a few years ago.

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Don Bauder May 29, 2009 @ 8:47 p.m.

Response to post #9: I have heard that there was an actual and similar exchange between Louis and one of the paramour aristocrats -- maybe Madame Pompadour. Then there is the famous quote, "apres mois, le deluge," (after me, the deluge), supposedly uttered by Louis XV. An expression I occasionally use is "as busy as a French whorehouse on Bastille Day." Best, Don Bauder

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Don Bauder May 29, 2009 @ 8:49 p.m.

Response to post #10: Mexican tourism has taken a big hit. Hardly surprising. Best, Don Bauder

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