Are tourists a boon?

The people who run London, for example, love to boast that the city is attracting record numbers (17.4 million in 2014). And they want more. “They especially have their eye on the high-spending shoppers who currently stop in Paris.” For them, a “flourishing” tourist industry is the tourism hallmark of success – which it probably …

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The BBC News is just dismal

A few weeks ago Owen, a contributor to this blog, criticised the BBC news as being superficial and lacking substance. This got me looking more often and more critically at it in its broadcast and web page forms. I have to conclude that Owen is absolutely right. For instance, yesterday the BBC carried a story …

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Blatant theft and modern banking: no lessons have been learned

John Stumpf is the CEO of America’s most profitable megabank, Wells Fargo, which has 268,000 employees. His company has been operating in crisis mode ever since the federal Consumer Finance Protection Bureau hit the bank earlier this month with a $185 million fine, the largest penalty for consumer fraud the new agency has ever assessed. …

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