US Airways goal: survival

by Tom Johansmeyer on

US Airways offers a story of aimlessness searching for an identity. Its attempts to go low-cost in 2005 never panned not, nor did its hopes of being a global heavyweight two years later. Now, it sits uncomfortably in the middle and has the unfortunate goal of survival.

The CEO, Doug Parker, of course, has all the answers. He blames the industry analysts for making too much of the company’s woes … particularly as it has been able to squeeze an extra $160 million a year out of passengers – with 10 percent fewer seats – by implementing popular measures such as charging fees for preferred seats and checking luggage. Because of this, US Airways could turn a profit “even with a 15 percent drop in revenue this year.”

Fun!

Reasons for optimism must be balanced against, well, reality. Over the past two years, the airline has amped up its customer service. Why? It had nowhere else to go, ranking rock bottom (or close to it) on such trivial matters as on-time arrivals, customer complaints and mishandled bags. Nonetheless, progress is good!

Unfortunately, Wall Street‘s concerns aren’t dismissed with a $5 voucher for the food court and promises of a first class upgrade. After all, these are the same disgruntled passengers dismayed at having to pay for the “good” seats.

The company raised (and ostensibly burned through) $700 million it raised in credit markets in the fourth quarter of last year. While other airline stocks dropped an average of 70 percent, US Airways’ share price plummeted 93 percent.

If you invested $100 in this airline last year, you’d have $7 today. If you bought $100 in beer last year, you’d have: $100 in beer, a hell of a hangover and probably $7 from the deposits on the cans.

Which way would you go?

Undiscovered New York: Hidden Wall Street

by Jeremy Kressmann on

It’s no surprise New York City bankers are not too popular these days. Between the housing meltdown and the bank bailouts, New York’s most famous financial thoroughfare, Wall Street, seems to be in the news a lot, and definitely not for good reasons. Many visitors have long-agreed, regarding the area as a dead zone for good reason. Sure, there’s a giant flag down there on the stock exchange and a metal bull, but once you snap a few photos it’s time to move on, right?

But to write the district off does it a serious injustice. Beneath the veneer of mega-banks, frenzied stock buying and selling and pinstripe suits lies a very different Wall Street, an area with a history dating back to New York’s earliest days as a North American settlement. In fact, the street gained its name because it was exactly that – an enormous wall constructed in the 17th Century to protect the small Dutch settlement from attacking Native Americans and British settlers.

To really get to know what Wall Street is about, in other words, you’ve gotta move past the banker cliches. Unless you dig a little deeper how would you know that Wall Street is brimming with history? Interested in visiting an African Burial Ground? Want to see what a stack containing one fourth of the world’s gold bars looks like? How about a drink in one of New York’s oldest bars?

Step inside Undiscovered New York’s guide to “Hidden Wall Street” to learn more…
The Lost City of Gold
Deep within an underground vault 80 feet below street level, resting on the bedrock of the island of Manhattan, sits a king’s ransom of treasure, filling an entire room from floor to ceiling. Think we’re talking about some hidden pirate treasure or Pharaoh’s tomb? It’s actually the physical manifestation of one of the world’s largest official monetary gold reserves, held by the Federal Reserve Bank of New York, located at 33 Liberty Street.

Containing around 266 million troy ounces of gold, the precious metal reserve is estimated to account for between 25 and 30 percent of the entire world’s monetary gold supply. Each weekday a select group of visitors is allowed in for tours of the Federal Reserve Building and its gold vault. It’s a fascinating look inside the U.S. economy (or what’s left of it) and an incredible trove of real-life treasure.

Ancient African Burial Grounds
The year was 1991, and construction crews were hard at work on the foundation of new office building in New York’s financial district. Suddenly the crews came upon the skeletal remains a few men, women and children. A research team was called into the site and soon had discovered the remains of a sprawling 6 acre burial site, containing more than 400 free and enslaved Africans laid to rest in the 17th and 18th Centuries.

In honor of the newly rediscovered burial ground, the site was renamed as the African Burial Ground and commissioned as a National Historic Landmark managed by the National Park Service. Stop by the Visitor Center located at 290 Broadway, check out the nearby monument and make arrangements for tours covering African presence in early New York.

Bridge Cafe
Undiscovered New York first took a look at some the city’s oldest bars back in November of 2008. But there was one bar we didn’t get to cover – the 1700’s-era Bridge Cafe, which is located close to Wall Street in the South Street Seaport. This Revolutionary War-era tavern is the self-proclaimed “oldest surviving tavern in New York.” Not only is the tavern still serving up pints of suds over 200 years later, it’s also the site of a former 1800’s brothel and apparently is haunted by ghosts. If you’re looking to enjoy some one-of-a-kind history and a legit New York historical landmark, look no further.

David Byrne of the Talking Heads gives cycling in NYC a boost with his bicycle racks

by Jamie Rhein on

PopEater gave me a heads up about David Byrne of the Talking Heads designing bike racks in Manhattan in order to promote bike riding. The bike racks are finished and in place. Each reflect its location. For example, head to Wall Street and you’ll find one shaped like a dollar sign. Here is a link to his Web page that shows the racks and where they are located.

The video is a clip from this past July. The rack on Wall Street is one of them shown. Plus, you’ll get a feel for Byrne and the experience of bike riding in Manhattan. If you do bike ride, watch out for vehicles.

A taxi driver opened his car door without looking first which caused someone near and dear to me to fly over the door and break his collar bone.

New York lecture by serial adventurer

by Jerry Guo on

There’s a reception/dinner/talk at the New York Explorer’s Club tomorrow by an adventurer who just made a “first contact” in Papua New Guinea. A “first contact,” for the uninitiated, is the first meeting between someone from modern society and an indigenous tribe. To put this feat in perspective, keep in mind there are still cannibals living in PNG. Here’s a good story in last year’s Smithsonian Magazine about that–they do a great job in telling it like it really is, without the hype or sensationalism.

Anyways, back to this guy, Frederick Selby, who I’ve been talking to in the last couple weeks. He’s done some ridiculous stuff, including trekking all over Mongolia, Nepal, Bhutan, Kilimanjaro, and the Alps. But here’s the kicker: he works as a Wall Street banker by day. He told me his next trip will likely be northern Peru to explore some Mayan ruins or the south pole.

Most of his trips are for a group of his adventure friends. He just calls them up, everyone pools together the funds, and they find a local “fixer” who can help them with the logistics. A great role model for the rest of us.