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June 29, 2005
Taste of Chicago 2005: An Economic Perspective
Battled the crowds at one of Chicago's greatest foodie events, Taste. It's an annual celebration held in Grant Park featuring about 40 Chicago restaurants. Temporary stands and kiosks get set up with grills, fridges and chefs, and thousands of people snap up ticket strips, 11 for $7. Note, that is 63 cents per ticket! Each restaurant offers three or four speciality items. For example, a Jamaican restaurant offered curry goat, oxtail soup and plaintains. Each one of those specialty items goes for about 8 tickets on average. So it all works out to about $5 an entree. However, there is also the smaller "Taste Portion" option for about 3 tickets, or $1.90. Considering the size of the entree and the taste portion, it gets pretty expensive. Roast corn generally runs 4 tickets. That's $2.52 for an ear of corn.
As you can see, it's brilliant economics in play. By forcing the consumer to purchase tickets, Taste gets the consumer to dissociate the tickets from their actual monetary value. As such, the consumer is less likely to "bargain shop" as the perceived difference between 3 and 4 tickets is very low. However, the actual difference is $0.63! Additionally, the consumer is forced to purchase tickets in strips of 11. Eleven is an odd number, you usually end up with enough tickets for one item, and a few leftover tickets. In order not to waste the leftover tickets, you buy another strip. So instead of spending $7 on a meal, the consumer is encouraged to double that spend. $14 on one meal!
However, the whole model falls to bits the last hour of the festival. There is rampant deflation and the ticket strengthens. A taste portion of Italian ice during this last hour is close to quart size. An 8-ticket entree of bbq ribs could be the whole side of a cow. Food vendors are calling out offers as fast as frantic traders in the pork belly pit of the Chicago Merc. "Two for one! Two for one!" "One ticket gets you anything!" "Anything for three tickets!" However, none of those vendors are giving out free food. No matter what, there is a transaction. Ticket for food. Additionally, the vendor wants to get rid of all that food to avoid transport, storage and/or waste. However, the ticket still has value. When the vendor redeems their horde of tickets with the event organizers, it can be assumed that they get the face value of the ticket, which is $0.50. Presumably, the event organizers reap the difference between what they charge consumers for the tickets and what they redeem the tickets for in the end. So in that last hour, consumers and event organizers profit the most, but vendors are able to limit their losses. It's an interesting market forces free-for-all, definitely. But it only happens in that magical last hour of Taste.
Extrapolate that model, and it could illustrate what would happen to the markets if Armageddon were to hit. A re-valuation of everything, from goods to currency, occurs in the last stage of a terminal economy.
Posted by carolyn at 08:54 AM | Comments (4)
June 23, 2005
Travel Karma: An NYC Cabbie Books the Holy Grail
Believe it or not, I'm writing this on the bus on the way home from O'Hare. How obnoxious. I can't wait till they make smaller laptops. Once again, I luck out with taxi drivers. On the way from Chelsea Piers to LaGuardia, I am panicked. I have only two hours till departure and I'm all the way on the very western edge of Manhattan, and the airport is clear across the island and over the river aways. And, it's rush hour. I frantically try to wave down a cab in front of Chelsea Piers, but a very nice Manhattanite tells me it's easier on 10th. So okay, I hike over a couple blocks. Still, cabs pass me by. This is odd, because in Chicago, cabs are usually jostling to pick up a passenger with luggage. Luggage means airport, airport means good fare. In New York, nope. That doesn't happen. Another Manhattanite takes one look at me and suggests I head another block north. I figure, what the hell. So I do. What an act of random kindness, he directed me to a taxi depot. Dozens of cabs, and still, not a one wanted to pick up a fare. I suppose they were on their break? But then another stranger waves a cab down, gestures at me and says, "After you." Whatever anyone thinks of New Yorkers, I'm here to say that I've had nothing but the best experiences. Even Mustafa, my cabbie was warm and sincere. I was madly making phone calls for the initial few minutes, trying to make up for the rude, hasty goodbyes I tossed off at the meeting in my harried effort to make my flight. And then, in the midst of stressing about traffic and chastising myself for getting such a late start, I dropped off into the sweetest slumber. Next thing I knew, we were on the FDR Bridge, the worst of the traffic was behind us, and the meter was at a mere $20, indicating that not only did Mustafa not rip me off when I was sleeping by driving in circles, he somehow maneuvered his way across the island like a pro. And still, so sweet and unperturbed. When I opened my eyes, a gentle voice from the front, "You slept a little, eh? That's good, you looked like you needed to." Turns out, his degree is in chemical engineering and every morning, he does some sort of financial risk management, my guess for a family fund or something of the sort. But I asked him what his passion was, and he said, "Driving. I love driving." He asked what I did, and we talked shop for a bit. He's one of the few people I've met that actually scored a great, great price on an airline ticket. When airlines advertise fare sales, they have to set aside a certain number of seats at the lowest advertised fare. Usually, it's not that many, so it's always key to jump on a fare sale as soon as it's advertised. Whatever this guy did, and I think it must be travel karma, he landed a round-trip direct flight from Chicago to Orange County for $180 on United. A fare like that is like the holy grail. You get it once, and you feel blessed because you know it exists. I still think there's some karmic force about it though, because if I could be that at peace with myself and the world around me, I'd jump at the chance to be an NYC cabbie.
Posted by carolyn at 10:34 PM | Comments (0)
June 22, 2005
Uptown, Crosstown, Whatever
Today was crazy! Had three back-to-back meetings, all crosstown, uptown or downtown from the other. First stop was at a building right by Union Square. Easy, just jump on the 6, head uptown and I'm there with enough time to cop a squat and swap out my orange sherbert flipflops with a pair of BCBG heels minutes before the meeting. Next up, a meeting at a Times Square hotel. I cut through the Union Square Greenmarket to get to the subway, passing piles of organic produce, fresh flowers and herbs galore. Bushels of sugar snap peas looked so enticing, I briefly pondered quitting my job and starting a vegetable garden. I have a favorite apple stand on the north side of the market, so I bought two winesap apples and a cup of fresh apple cider ($2 total!) to accompany me crosstown. Thus far, the subway has been remarkably convenient. It's only a few blocks away from my hotel and there always seems to be a stop within steps of my destination. I've also never had to wait longer than five minutes for a transfer. (That's unheard of in Chicago.) While I was waiting to catch the crosstown L, I noticed a collection of tiny, whimsical bronze sculptures hanging from rafters, hiding in corners, crawling under gates. Turns out it's an art installation: Life Underground, Tom Otterness, 2001. Funny I never noticed that before. Wonder how many do pause and wonder in the crush of commute? Times Square meeting ran longer than expected, so I hopped a cab back across town to Park and 28th. Business lunch at Rice, a very funky Asian-Jamaican-Latin fusion spot where I had a salmon salad. The dressing was a bit heavy, drowning out the delicate mesclun taste, but my colleague's chicken wing appetizer smelled heavenly and the black rice with curry chicken looked gorgeous. Atkins aside, the place was packed for lunch. Strangely enough, conversation turned to barbeque. Must be getting trendy these days, all those shows on FoodTV Network must payoff. Finally free for five hours, I plunged back into the subway and hit Delancy St and the Lower East Side. The goal was to end up at Teany, a tiny tea house founded by Kelly Tisdale and Moby (I guess they were a couple, and are no longer?). Alas, when presented with a north-south decision, I opted south down Orchard. A minor and somewhat pleasant digression, as I was able to hit two spots in my Top 10 NY guidebook. Fishkin Knitwear and Forman's. Both would have been great shopping spots if I were in my 40s. Now, not so much. However, I did find a great little costume jewelry shop that had plenty of baubles to rummage around in. $5 necklaces and funky charm bracelets from the 50s and 60s. One charm had inexplicable letters on both sides of a disc. When you spun the disc, it spelled "I love you." Sappy science at work! After realizing that I had gone five blocks in the wrong direction, I flipped it and reversed it and am now finishing up this entry at Teany with a lavender infused lemonade. A bit on the tart side, but the atmosphere is fantastic. Moby playing in the background and a hip but unpretentious bustle. At the table across from me is a man in a horribly purple button down shirt talking about his desire to go back to Egypt. Across from him is a cute blonde dressed preppy with lemon yellow polo shirt, collar turned up, and a pink and brown rugby shirt tied around her shoulders. She is looking very interested in what the purple shirt has to say. It appears that the dwindling number of eligible men in Manhattan has reached crisis levels. Thank God for Chicago. I love this city, but there's no place like home. It's started raining, think I'll go brave the weather and get me back to my cozy room to rest up before dinner tonight. (Uptown, of course.)
Posted by carolyn at 03:37 PM | Comments (1)
June 21, 2005
I Love Lower Manhattan
Ah, a great hotel experience to relate this week! I have set up home base at Manhattan Seaport Suites in lower Manhattan, it's on Front Street between Maiden and Wall, and a five minute walk away from the South Street Market and Pier 17. My room is perhaps not hip or glamorous, but it is truly HUGE by New York standards. Wood floors, wireless internet access, a clean bathroom with organic toiletries...this is definitely a great Manhattan find. (And, unlike Paris Las Vegas, this room has a coffee maker). According to the front desk, they're renovating. That would explain the two husky guys who comandeered one of two elevators to load eleven flat-screen televisions. Previous trips to New York always followed a set itinerary. Business, with dim sum and shopping in Midtown squeezed in the middle. Maybe, if I was feeling funky, a quick walk around SoHo and TriBeCa to browse the boutiques. Rarely did I make it to the very southern tip of Manhattan. I had made the World Trade Center pilgrimage, and since then, haven't really had the desire to explore the neighborhood any more. In fact, I accidentally booked this hotel. I was trying to get a hotel close to Chelsea Piers, which is hosting the conference I'm attending, and ended up in Lower Manhattan rather than Chelsea. Which is alright by me, I love this area! I had never been to the South Street Seaport, a pedestrian only shopping-area with al fresco restaurants. Just past the market is Pier 17. This tiny mall with its unobstructed view of the East River is so small and charming, feels more San Francisco than it does New York. After doing some last minute shopping for appropriate business attaire (I have horribly second-guessed every single outfit I brought with me), I walked the two blocks back to the hotel and grabbed sushi at the tiny but charming Koodo Sushi, located in the same building as the hotel. Talk about luck, it was exactly what I was looking for. Unassuming, reasonably priced, and creative maki. I had the New York roll, which is a spicy tuna roll beautifully wrapped in eel, salmon, sliced avocado and caviar. Also, since I can never resist, an order of agedashi tofu. Entire bill? $15! I took my delightful dinner back up to the comfort of my air-conditioned room (true New York takeout style) and enjoyed the nummies while watching Sex in the City. Ah, what's not to love about this city?
Posted by carolyn at 09:28 PM | Comments (0)
Blue Cab Taxi Company
En route to New York this fine morning. It's been a traveler's dream so far, when I stepped out of Dave's Oak Park home, a clean suburban taxi was waiting outside, trunk popped and passenger side door open. You sure don't see that in the city. The cab driver, Dwight, was also a unique. He waxed glorious on the Blue Cab company, on how well the mother-son business took care of its fleet and encouraged its drivers to try new ideas. For example, Dwight wanted magnetized Blue Cab logos that could be removed at will. Blue Cab said fine. Dwight wanted to try his hand at adding a luxury car service, Blue Cab said fine. Unfortunately, the car crapped out at 300,000 miles and had to be let go, but Dwight's going to give it another try in about a year or two. He explained how he used to drive his own car, and Blue Cab would get about $200 a week from him. Now he drives one of their cars, gives them $450 a week, but they take care of maintenance and insurance. "Worth it, not having to worry about all that," he explains. Ah, my flight's about to board. American 382, tail number N96265. They just called the Executive Platinum Members, I'm always so tempted to turn that trick, but the benefit of boarding before anyone else still eludes me.
Posted by carolyn at 09:27 PM | Comments (1)
June 20, 2005
Gotta Love Flight Attendants
Emailed to me today:
***
All too rarely, airline attendants make an effort to make the in flight "safety lecture" and announcements a bit more entertaining. Here are some real examples that have been heard or reported:
1. On a Southwest flight (SW has no assigned seating, you just sit where you want) passengers were apparently having a hard time choosing, when a flight attendant announced, "People, people we're not picking out furniture here, find a seat and get in it!"
2. On a Continental Flight with a very "senior" flight attendant
crew, the pilot said, "Ladies and gentlemen, we've reached cruising altitude and will be turning down the cabin lights. This is for your comfort and to enhance the appearance of your flight attendants."
3. On landing, the stewardess said, "Please be sure to take all of your belongings. If you're going to leave anything, please make sure it's something we'd like to have.
4. "There may be 50 ways to leave your lover, but there are only 4 ways out of this airplane"
5. "Thank you for flying Delta Business Express. We hope you
enjoyed giving us the business as much as we enjoyed taking you for a ride."
6. As the plane landed and was coming to a stop at Ronald Reagan, a lone voice came over the loudspeaker: "Whoa, big fella. WHOA!"
7. After a particularly rough landing during thunderstorms in
Memphis, a flight attendant on a Northwest flight announced,
"Please take care when opening the overhead compartments because, after a landing like that, sure as hell everything has shifted."
8. From a Southwest Airlines employee: "Welcome aboard Southwest Flight 245 to Tampa.. To operate your seat belt, insert the metal tab into the buckle, and pull tight. It works just like every other seat belt! And, if you don't know how to operate one, you probably shouldn't be out in public unsupervised."
9. "In the event of a sudden loss of cabin pressure, masks will
descend from the ceiling. Stop screaming, grab the mask, and pull it over your face. If you have a small child traveling with you, secure your mask before assisting with theirs. If you are traveling with more than one small child, pick your favorite."
10. "Weather at our destination is 50 degrees with some broken clouds, but we'll try to have them fixed before we arrive. Thank you, and remember, nobody loves you, or your money, more than Southwest Airlines."
11. "Your seat cushions can be used for flotation; and, in the
event of an emergency water landing, please paddle to shore and take them with our compliments."
12. "As you exit the plane, make sure to gather all of your
belongings. Anything left behind will be distributed evenly among the flight attendants. Please do not leave children or spouses."
13. And from the pilot during his welcome message: "Delta Airlines is pleased to have some of the best flight attendants in the industry. Unfortunately, none of them are on this flight!"
14. Heard on Southwest Airlines just after a very hard landing in Salt Lake City the flight attendant came on the intercom and said, "That was quite a bump, and I know what y'all are thinking. I'm here to tell you it wasn't the airline's fault, it wasn't the pilot's fault, it wasn't the flight attendant's fault, it was the asphalt."
15. Overheard on an American Airlines flight into Amarillo, Texas, on a particularly windy and bumpy day: During the final approach, the Captain was really having to fight it. After an extremely hard landing, the Flight Attendant said, "Ladies and Gentlemen, welcome to Amarillo. Please remain in your seats with your seat belts fastened while the Captain taxis what's left of our airplane to the gate!"
16. Another flight attendant's comment on a less than perfect
landing: "We ask you to please remain seated as Captain Kangaroo bounces us to the terminal."
17. An airline pilot wrote that on this particular flight he had
hammered his ship into the runway really hard. The airline had a policy which required the first officer to stand at the door while the Passengers exited, smile, and give them a "Thanks for flying our airline." He said that, in light of his bad landing, he had a hard time looking the passengers in the eye, thinking that someone would have a smart comment. Finally everyone had gotten off except for a little old lady walking with a cane. She said, "Sir, do you mind if I ask you a question?" "Why, no, Ma'am," said the pilot. "What is it?" The little old lady said, "Did we land, or were we shot down?"
18. After a real crusher of a landing in Phoenix, the attendant
came on with, "Ladies and Gentlemen, please remain in your seats until Capt. Crash and the Crew have brought the aircraft to a screeching halt against the gate. And, once the tire smoke has cleared and the warning bells are silenced, we'll open the door and you can pick your way through the wreckage to the terminal."
19. Part of a flight attendant's arrival announcement: "We'd like to thank you folks for flying with us today. And, the next time you get the insane urge to go blasting! through the skies in a pressurized metal tube, we hope you'll think of US Airways."
20. Heard on a Southwest Airline flight. "Ladies and gentlemen, if you wish to smoke, the smoking section on this airplane is on the wing and if you can light 'em, you can smoke 'em."
21. A plane was taking off from Kennedy Airport. After it reached a comfortable cruising altitude, the captain made an announcement over the intercom, "Ladies and gentlemen, this is your captain speaking. Welcome to Flight Number 293, nonstop from New York to Los Angeles. The weather ahead is good and, therefore, we should have a smooth and uneventful flight. Now sit back and relax... OH, MY GOD!" Silence followed, and after a few minutes, the captain came back on the intercom and said, "Ladies and Gentlemen, I am so sorry if I scared you earlier. While I was talking to you, the flight attendant accidentally spilled a cup of hot coffee in my lap. You should see the front of my pants!" A passenger in Coach
yelled, "That's nothing. You should see the back of mine!"
Posted by carolyn at 12:43 PM | Comments (0)
June 16, 2005
Immensely Impressive: Wynn Las Vegas Hotel
I'll counterweight the Paris Las Vegas hotel experience with a Wynn Las Vegas hotel experience. A friend of mine who owns his own business decided to book a suite at Wynn Las Vegas, the brand new, luxury-beyond-luxury hotel built by Steve Wynn. It was spectacular. Twenty-foot panoramic windows overlooking the strip, granite-topped bar, rain shower, hydrotherapy tub, stunning red couches, a guest bathroom, and a massage room to push it all over the top. The master bathroom was bigger than my master bedroom at home! The casino itself was reserved elegance, there wasn't the gaudy, cringing sound of screaming slot machines, there was no smoky haze over the craps tables, there were high ceilings and flower arrangements. I remember when the Bellagio first opened and I got a glimpse of the Chihuly-flowered lobby ceiling. To me, the Bellagio was a turning point for Las Vegas. The hotel still spent gross amounts of money to attract visitors, but that money was spent on Picassos and a graceful water show set to classical music rather than on the pyrotechnic prattle of Treasure Island's pirate show. Another example of high culture pervading Las Vegas, the small Guggenheim museum situated in the Venetian. On a previous visit, I managed to slip away for an hour to take a tour led by the museum's curator. Food has also stepped up a notch in Vegas. When I was a kid, it used to be all about the $5.95 all-you-can-eat buffet, which featured aspic painted ham or roast beef sitting under the red light of a heat lamp for hours on end. There were also the $6.95 prime rib dinners. I still love those bargain basement dinner deals, but they're not Nobu, they're not Red 8, they're not Aureole. And, Vegas has become a shopping mecca! I used to think that the Forum Shops at Caeser's was heaven, with its laser light show and knick-knacks galore. But since Aladdin re-did the Desert Passage, there is simply no where else to go. The whole place feels like an exotic bazaar with various kiosks and peddlers, and cabbed bikes available to transport you from one end to the other. Desert Passage is also home to my very favorite jewelry shop, a little kiosk just past the hookah vendor. They always seem to have the most unique little bling-blings, I have not once been able to go there without whipping out my credit card for one bauble or another. Hopefully next time I head out to the City of Sin, I won't be there on business. I'll be there for fun.
Posted by carolyn at 09:24 PM | Comments (0)
June 14, 2005
Ever-unimpressive: Paris Las Vegas Hotel
When I was a kid, my parents and I used to drive from San Diego to Las Vegas once a summer. I loved the city even then, back in its seedy days before the Bellagio and Wynn Las Vegas. I loved the bright, flamingo-colored lights of the Hilton; the hot, dry sun; the smell of suntan oil and fruity drinks with paper parasols. Now that I'm older, I still have those yearly pilgrimages to the City of Sin, but more often than not, it's for some conference or the other. The gritty Vegas I remember as a kid has given way to luxury spas and Zagat-rated restaurants. Not that I mind, I've never had the attention-span to gamble, I'm more of the poolside lounger. For this visit, I decided to stay at Paris Las Vegas. I have fond memories of an almond croissant enjoyed at the hotel's Le Notre cafe many years ago. The pseudo-cobblestone paths winding through the casino perfectly blend casual non-chalance with the typical Vegas overstatement. Unfortunately, the Paris Las Vegas hotel did not meet expectations. As soon as I checked in, I headed straight for the pool. Alas, the attendant booth was not staffed, and the cabana boys were stacking chaise lounges with nary a concern for hotel guests. When the attendant finally came back, she informed us that no towels were available, they were still being laundered. Almost inconceivable, a higher-end Las Vegas hotel that ran out of towels at 4p in the afternoon. There was no offer to bring us a towel, so we all shifted uncomfortably on the hot concrete pavement, one foot to the other, until the towels were wheeled out. But that was only the start of a long string of discontents. I was expecting a FedEx package to be delivered to the hotel. I also expected to receive it at check-in. Seems a simple thing to me, the hotel knew I was going to check-in at a certain time, it should have been second-nature to have my package waiting for me at the front desk. Instead, I was given a phone number to call and schedule a delivery. Alright, so I did. I was told to expect the package in five minutes, it took a half hour. I don't know why, but I still tipped the delivery guy, more out of habit than anything else. Additionally, there was no coffee machine in the room. It is such a simple appliance, so integral to neverending Vegas evenings, in a hotel that strives to be ooh-la-la French! And it just kept getting worse! At 3am in the morning, I discovered the need for a feminine hygiene product. Called down to the front desk, was put on hold, then transferred, then told to visit the shop by the elevators. Again, it doesn't seem like a massive undertaking to have one sent up via room service or via maid service. The final blow came as I was leaving to catch my 8:30a flight back to Chicago. Le Notre was not yet open (and still remains the sole saving grace of the Paris Las Vegas hotel), so I went to the more formal cafe across the casino to get a cup of coffee and breakfast to go. I was told, "Sorry, we don't do take-out." Now perhaps I've become too much of a citygirl, but it would seem to me that a bagel could be served both on a plate and on a napkin with the same effect. By that point, I was so tired of Paris Las Vegas' lack of customer service, I didn't even put up a fight. It seemed more effort than it was worth to say, "I'll have the egg-bagel sandwich, hold the plate, hold the silverware." What was even more amusing is that no comment cards were available in the rooms, and were not offered upon checkout. I had to ask for a comment card post checkout, and this was even after I informed the front desk that I worked in the travel industry. Unbelievable.
Posted by carolyn at 09:20 PM | Comments (0)
June 03, 2005
Genes, Sex and Fruit Flies
Read an article in this morning's paper, apparently Austrian researchers have discovered that there is a gene that can be manipulated to influence sexual preference. They took the male variant of this gene and stuck it in a female fruit fly. The female fruit fly then "acted exactly like males in courtship, madly pursuing other females." Ditto for the male fruit flies. They went after their own gender too.
Overall, this implies that homosexuality is genetic. Big step in the nature v.s. nuture debate. However, perhaps of even greater consequence, is that we can influence behavior with genetic manipulation! What do we know so far...it should be possible in the future to counter genetic diseases by manipulating the misfire. But that's a disease, not a preference or a behavior. And it's more prevention than decision. Exterminating a disease has the potential for saving a life. Exterminating a behavior accomplishes what?
Of what real impact is it to control someone's sexual preference, or heck, for that matter, sense of humor or taste in food? Such behavioral ticks define individuality and character. Why change them?
Posted by carolyn at 09:31 AM | Comments (1)