Quest Means Business
May 29, 2009
Posted: 727 GMT

According to David Buik, the traffic signal is Amber.

What do you think?

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Filed under: Amber •Quest Means Business •Traffic lights


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May 28, 2009
Posted: 727 GMT
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Posted: 716 GMT
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May 27, 2009
Posted: 720 GMT

We introduced the QI – Quest Indicator last night. Our very own set of traffic lights built in the QMB studio. Is this a gimmick or a real tool to help us understand what is going on?

When important economic numbers are released we will ask economists and analysts that we have come to know and trust which light best describes the situation.

A Red light clearly shows we are stuck in recession. Economies are still contracting. The Amber light means that we are bumping along the bottom. Things are no longer getting worse – but they are not really getting better yet. The Green light obviously shows we are moving forward and growing again.

So for instance, why did we give a RED light when yesterday’s U.S. consumer confidence number rose sharply? Because this leading economic indicator is fragile, anecdotal and often reverses itself in subsequent months. It was also tempered by housing numbers which showed the true existing position. Our analysts – not me or my producer – felt it was a RED.

On any single day we might not get it quite right. A red instead of an amber. An amber when a green is called for. But if you are a regular viewer then the QI – Quest Indicator – is now part of our show.

Traffic Lights – Not a gimmick but an important way we can show you what’s happening on the road to recovery.

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Filed under: Business •Profitable Moment •Quest Means Business •Traffic lights


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May 25, 2009
Posted: 1953 GMT

Tonight on the show we launched JobQuest – in the months ahead we are following several people who are out of work and seeking jobs Through their eyes we will gain an understanding about what its like to be looking for work in the worst recession for a century.

There is Jason in Atlanta and Jenny in Hong Kong. Jenny moved there from Ireland. Both are very quickly finding out how hard it is to get work. We will be following them in the weeks ahead.

Why are we doing this? Because with unemployment in developed economies likely to hit more than ten per cent it is crucial the rest of us understand the strains this puts on the people and on society.

And for those of us lucky enough to keep our jobs find we are grateful to be working longer hours for less money.

In all cases, It creates a fear that corrodes and eats into all of us.

It is true – most of us spend all we earn. We are usually a paycheck or two away from financial trouble. And if we stop earnings it isn’t long before financial trouble comes knocking.

The experts tell us we should have upto six months worth of salary as savings for the "rainy day."  Nice if you can – but I know of no-one who has that much spare cash laying around "just in case."  

We all have a family member, a friend, a neighbour who has lost a job – sometimes we have all three. Which is why we are taking this so jobless crises so seriously..because they are soon facing financial problems. 

What do you think is the right level of financial cushion ? One month ? Two ? Six months – or are you going to tell me: Quest – get real. We live hand to mouth.

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Filed under: Banking •Business •Jason Young •Jenny Torrie •JobQuest •Profitable Moment •Quest Means Business


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May 22, 2009
Posted: 1344 GMT
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May 20, 2009
Posted: 1942 GMT

Today Delta airlines along with Air France/KLM announced their global joint venture. Sharing revenues and costs – effectively making it one airline in much of the world.

The press release trumpted the benefits to consumers – I am not sure I immediately agree.

The airlines are already members of SKyteam which boasts seamless travel. So why do they need to get into bed together and operate as one airline ?

We know this is really all about maximizing revenue and minimizing costs. On some key routes from the US to Amsterdam and Paris there will be just about zero network wide competition. Can this really be good for consumers ?

I am realist and know that from the airlines point of view this makes perfect sense

We are rapidly moving to the era where individual airlines won’t matter – in future we will fly Star, Oneworld or SKyteam. This is what this deal is really all about. The sooner regulators and airlines get honest about this and level the playing field the better for all- then true competition can begin.

Here are some of your views

 

darrenmak@richardquest Star Alliance has the most airlines, most destinations, and good First Class Award Availability. Flying them thru LHR 2day!

Lauratheexpat@richardquest I've given up on the whole thing – I never can seem to use my frequent flyer miles for anything other than duty-free!

kzamri@richardquest what's important to the airlines is the bottomline. In terms of fares I don't think there will be drastic changes

FabreuJ@richardquest Specific anti-trust laws should be enacted and enforced to ensure fair competition between airlines.

 hgmartinezrichardquest Alliances can work well for the fflyer, for me I fly American(1wrld) for business and redeem on Cathay or Qantas for leisure.@

 LauraMac09richardquest Now, the consumer is the company's competitor!@

 Mighty_Mole@richardquest You assume competition is fixed. There will always be new competition. Look at JetBLue and Virgin for your fresh faces.

 RigilKentaurusrichardquest the old European carriers are terrible: KLM/Air France/ Lufthansa@

 QueenLunte23@richardquest like those hudled together antarctict penguins they are trying to survive 2getha...

 JoburgViennarichardquest And isn't the concentration of capital what Marx predicted in the late 19th century. 🙂@

 hgmartinezrichardquest Service Carrier Australasia area. Star=Mass market due to having so many members. Skyteam= Somewhere between!@

 jamesfarrarRT @richardquest: NO. Alliances happen because M&A cannot. mrkt consolidation. Consumers are placated with a uniform mileage programme

 01theone@richardquest Good question -I think it will lead to a 2 class supply of services -very cheap e.g. JetBlue VS. high class like Etihad, etc.

WoodsonHawk @richardquest How can you beat a monopoly? We passengers will not win.

Malamoucha@richardquest it's a no win situation. they have to bed each other to survive. and we as the passenger pay in the end

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Filed under: Business •Quest Means Business


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Posted: 1459 GMT

Just read an excellent economic report from HSBC about what will happen after the recovery arrives. Fundamental point is that some governments (like the US and UK) have borrowed so much to get us out of the mess that we will be paying it back for a very long time.

Numerous scenarios are put forward – all involve times and period of either higher taxes, lower spending or both. It is an admission of what we all know in our hearts of hearts – that the payback from this crises will be long and painful.

We are covering this tonight on QMB and I am going to make this my Twitter question tonight.

It’s sad to say but if we had saved more in the good years we wouldn’t be in such a horrible state once the recession is over.

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Filed under: Business •Quest Means Business


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May 18, 2009
Posted: 1553 GMT
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May 8, 2009
Posted: 1052 GMT
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