If You Subsidize Something with Tax Dollars, You Get More Of It, Even If Costs Far Exceed Benefits

Nov. 23 (Bloomberg) -- "Michigan taxpayers foot the bill for the most generous movie subsidies in the U.S. Since 2008, the state has allotted $282 million to lure the filming of Hilary Swank’s “Conviction,” Clint Eastwood’s “Gran Torino,” George Clooney’s “Up In The Air” and more than 120 other productions.

Now the governor-elect, Republican Rick Snyder, wants to curb the largesse. A state agency found the price of the program -- which covers as much as 42 percent of local expenses -- exceeds the economic activity generated. Jobs created in 2009 cost the state about $193,000 each, the agency estimated."

MP: Economic lessons to be learned here:

1. From Thomas Sowell: "The first lesson of economics is that we live in a world of scarcity. There is never enough of anything to satisfy all those who want it.  The first lesson of politics is to ignore the first lesson of economics."

2. Public Choice Economics: In their short-sighted self-interest to get re-elected, politicians will always favor programs that have immediate benefits that are easily identifiable, even if the long run costs are much greater than the benefits, especially when the costs are hard to identify.  Film subsidies are a perfect example. It would have been cheaper for the state of Michigan to simply pay people in the film industry salaries of $50,000 per year not to work, than to fleece taxpayers almost $200,000 per job in the film industry.  But there's no political payoff to pay people $50,000 not to work, compared to the huge political payoff, though illusory, of "putting people to work in the Michigan film industry" at a cost of almost $200,000 per job. 

HT: Tom Hemphill

If You Tax Something, You Get Less of It

From the New York Post:

"The underground tobacco market is spreading like a fast-growing cancer in the wake of tax hikes that make New York cigarettes the most expensive in the nation -- and it's costing the state tens of millions a month in lost tax revenue.

Illegal cigarettes are pouring into neighborhood bodegas by the truckload from neighboring Indian reservations, lower-tax states in the South and even as far away as China. Government data show that New York state is being smoked out of as much as $20 million a month from all these illegal cigarette purchases -- an estimated 7.3 million packs a month sold off the state tax radar.

Sales of taxed cigarettes have plummeted 27 percent since July, when state lawmakers raised the excise tax to $4.35 a pack on top of the city's tax of $1.50, making the average price of Marlboros here $11.60, with some shops charging as much as $14. About 30 million packs are being sold legally each month -- down from 41 million packs a month before July.

The plunge far exceeds tobacco-control experts' predictions that sales would fall 8 to 10 percent, indicating that smokers are finding other means to get their nicotine fix."

MP: Economic lessons to be learned here:

1. Taxes are always distortionary because people can change their behavior to avoid the tax.  (The only exception: a "head tax," which cannot be avoided.)  Elected officials almost always underestimate the ability of taxpayers to change their behavior to avoid taxes, and the New York cigarette tax example is no exception  - experts predicted a 8-10% reduction in sales vs. the actual 27% decline.  

2. In any discussion about taxes, we have to distinguish between "tax rates" and "tax revenues," especially when we talk about "increasing or decreasing taxes," with the assumption being that increases (decreases) in tax rates and increases (decreases) in tax revenues automatically happen together.  In the case of cigarettes in New York the "tax increase" in rates resulted in a "tax decrease" in revenues because of what happened to the "tax base" (the amount of activity subject to the tax).  In this case (as often happens), the increase in tax rates on cigarette caused the tax base (amount of cigarettes subject to state taxes) to shrink so significantly, that there was a decrease in tax revenue. 

The same outcome often happens, whether the tax increase is on income, dividends, capital gains or retail sales.  See a good overview here of "tax rates" and "tax revenues" by Thomas Sowell on a recent episode of "The Kudlow Report."

HT: Craig Newmark via Lee Coppock.

Fine Arts Column

Fine Arts Column

Wall Street Greek is pleased to provide our affluent readers with a new column covering fine arts topics for your entertainment and discovery. This column will not expand into the realm of fine art as alternative investment, but we will launch another column(s) for this purpose in the future. This complex thread of colorful content will bring our affluent readers more coverage of the topics that fill their evenings and weekends, and adorn their walls, studies and galleries. You can expect to find these entertaining works published on Friday afternoons or on the weekend.

This new section will cover all aspects of the fine arts, including but not limited to: painting, sculpture, antiquities, literature, and reviews of gallery openings, musical performances, theatre and film. Our Fine Arts Column will be open to cover all fine art forms and aspects of their study. Some of the topics the column may be expanded to could include installation, calligraphy, drawing, water color, graphics, lithography, printmaking, dance, ethnic art, architecture, and photography, to name a few.

We look forward to publishing works covering modern art of all sorts, including new branches of media art and even street art. We will cover fine art from all over the world, wherever creativity thrives and where we find it. Look for discussion of African works, the works of natives of North and South America, and the indigenous peoples throughout the world, including Inuit Art.

Our work will continue to derive from the columnists we have already introduced to you, and from new sources as well. You can still find the expert contributions of ancient art Scholar/Columnist, Collector & Dealer, Randall Hixenbaugh within our pages, and we hope to publish the contributions of other experts in antiquities and archaeology as well. We also look forward to publishing more works from our Original Art Print and Lithograph expert, Eric Travers, as well as the works of others in this field.

We are thrilled to have new writers on tap for you in the areas of literature, music, gallery openings and film. Short story writer Nicholas Zaharakos launches our efforts into literature, with a series of wonderful New York tales. We anticipate one or two poets may contribute soon as well.

We will continue to present our readers with an expanding list of important columnists covering interesting topics laid out by our clever editorial team. We expect to satisfy all aspects of your affluent interests. Your suggestions are always welcome as well.

Fine Arts Columnists:

• Penelope Karageorge - Film & Theatre
• Nicholas Zaharakos – Short Stories
• Eric Travers – Original Fine Art Prints & Lithographs
• Randall Hixenbaugh – Antiquities

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More Positive News: Green Shoots Everywhere

1. U.S. consumer confidence in November reached its highest level since May, five months ago.

2. The Leading Economic Index for the Euro Area increased by 0.4% in October, following increases of 0.2% and 0.6% in September and August, respectively.   

3. Shipping in Europe is showing strong gains: Hamburg's total cargo volume rose 8% during the first nine months of the year compared to 2009, Rotterdam's traffic jumped 31.4% over the same period, and Antwerp's cargo volume was up 13.2%.

4. The Vancouver port set a new record in October for container traffic, with volume up 19.5% over the same month a year ago.

5. NAFTA trade rose 19.3% in September from last year.

6. Manufacturing output improved in the Midwest region in October according to the Chicago Fed, and in the Chicago region in November according to the Chicago PMI.  The Dallas Fed reported a strengthening of manufacturing activity in Texas for November.  

7. Positive results were reported for both the U.S. hotel industry and Canada's hotel industry for the week of November 14-20.

8. State tax collections increased by 3.9% in the third quarter of this year compared to same period last year, the third consecutive quarterly gain in state tax revenues.  

Business News Review 11-30-10

Economic Data Analysis

We covered the international market activity in an earlier article today, "Spanish Bond Spreads Widen, European Unemployment Grows, Indian GDP Thrives." The day's business news review covers the weekly same-store sales data for a very important shopping period; home price data; an economic barometer; and confidence measures of both consumers and investors.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

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Business News Review

The day's business news review covers a busy economic report schedule, and one that was mostly positive. The problem was that the positives were not overwhelmingly so, and the negative was an important one. Home prices slid again in broad-based fashion, and our double-dip forecast of old was repeated on TV by S&P economist, David Blitzer, who said there would be a lot of "I told you so" and "double-dip" comments. It sounded to us as if it were meaningless (we suppose it's not to you). The fact is, it was not, and we led the investment community in forecasting the double-dip in housing. On the positive side, good readings on consumer and investor confidence were nice to see, but not reliable to invest on.

Weekly Same-Store Sales

Beware the weekly same-store sales data, which on first blush give the impression of a solid revival of the consumer. Remember that this year's measured period included the Saturday after Black Friday, whereas last year's period did not. You can bet your bottom dollar that the Saturday after Black Friday is significantly better for store traffic than the Saturday before it. Also, a great deal more Americans are likely seeking bargains this year, after draining their resources over the course of another bad year. Qualifiers provided, the International Council of Shopping Centers (ICSC) reported sales rose just 0.5% over the immediately prior week. Sales marked a 3.5% gain over the prior year period. Redbook noted year-over-year sales 4.9% higher than in 2009.

Cyber Monday was reportedly strong, based on the 15% increase in ecommerce reported by research firm, IBM Coremetrics. From Thursday through Saturday, sales increased 14% against the prior year.

I've two points to make: First, last year was an anomaly, an extremely poor year for all economic activity. In other words, the bar was set quite low. Secondly, this again might reflect a reluctant shopper, shopping at home perhaps due to depression brought on by missing deals and the usual shopping outing on Black Friday. I know someone who did not expect to shop, and yet bought something on Monday (did you?). It should also reflect an increased number of bargain seekers, for necessity's sake. Thus, I'm not too enthused to see this data, but we will take it just the same.

Consumer Confidence

It's a smooth transition into the consumer mood after covering sales activity. The Conference Board reported on the month of November today, noting an increase in the consumer mood. The Index gained a couple points, rising to a mark of 54.1, up from 49.9 in October. The same component that took this measure down in months past, gave it renewed life this time around; the Expectations Index recovered significantly, so hope never dies. November's result also beat economists' expectations for a reading of 52.0. We expect a change here if the government lets unemployment extensions die and revives the death tax at the same time. That said, the current level of confidence is not exactly euphoric either.

Investor Confidence

State Street (NYSE: STT) measures investor confidence monthly, and November offered signs of life. According to State Street, institutional investors were greater risk takers in the US and Europe this month, but Asian investors took a step back. The global confidence measure gained 9.3 points, while US confidence improved 12.2 points this month. Surprisingly, European investors had great appetite in November as well, but we have a feeling that is changing dynamically.

Home Prices

The S&P Case Shiller Home Price Index was reported this morning for September. We heard Professor Case, an all around nice guy we don't dislike here, address an issue we've had with the report this morning on TV. He noted that the report is this late, covering September, because it is complete. There will be no revisions, nor future reporting of better September numbers. That's great, but why can't it be completed sooner, given the name on the report…

That said, this late data reflected what we've already seen in the Existing Home Sales data, and what Wall Street Greek forecast months ago. Home prices slid in September and seem to be suffering from an eroding false basis price point. The 10-City Index produced a 0.7% month-over-month price decline, and the US National Home Price Index gave back 2.0% in the third quarter. Prices are 1.5% below their year ago levels, according to the group.

18 of 20 MSAs covered by S&P noted price decrease in September, so the problem is broad-based and definite. The reporting group confirmed something we've been saying; in our words: without government stilts, housing has a significant handicap to overcome. It is weighed down by a heavy inventory of distressed properties, and given the underemployment rate, it's lacking energy to drive forward.

Chicago PMI

The Chicago Purchasing Managers Index (PMI) measures area business activity, including both manufacturing and nonmanufacturing. This latest report covering the month of November showed improvement in the index, to 62.5, from 60.6 in October. A reading above 50 marks expansion, so we've got faster growth to report here. Analysts were not looking for quite this good a number either, where the consensus mark was set at 61.0. I view this data point as the most positive on the day, which is one that I only see modestly positive in aggregate.

Corporate Wire

Google (Nasdaq: GOOG) is facing an antitrust lawsuit by the EU, ala Microsoft (Nasdaq: MSFT). The complaint waged argues the search giant favors its own sites and its customers' sites over those of rivals in paid and non-paid search rankings. Meanwhile, rumor has it that Google is going to acquire two year old internet phenom, Groupon, for, get this, $6 billion dollars. Not a bad turn around on a young startup. Groupon has proven an effective tool for small businesses and others to fill the room for openings and to create a buzz around a business. The acquisition capitalizes on local search interests Google has documented in its regular work.

Look for analysts' and shareholders' meetings at Hologic (Nasdaq: HOLX), Lowe's (NYSE: LOW), Biogen Idec (Nasdaq: BIIB) and JDSU (Nasdaq: JDSU). The day's EPS schedule highlights reports by Avanir Pharmaceuticals (Nasdaq: AVNR), Rosetta Genomics (Nasdaq: ROSG), SemGroup (Nasdaq: SEMG), Trina Solar (NYSE: TSL) and DELEK (OTC: DGRLY.PK). The remainder of the schedule includes Barnes & Noble (NYSE: BKS), BluePhoenix Solutions (Nasdaq: BPHX), China Bak Battery (Nasdaq: CBAK), Copart (Nasdaq: CPRT), Funtalk China (Nasdaq: FTLK), Ingles Markets (Nasdaq: IMKTA), Linktone (Nasdaq: LTON), Lukoil (OTC: LUKOY.PK), National Bank of Greece (NYSE: NBG), Omnivision Technologies (Nasdaq: OVTI), Patriot Transportation (Nasdaq: PATR), Rada Electronic (Nasdaq: RADA), Thor Industries (NYSE: THO) and Universal Technical Institute (NYSE: UTI).

The Credit Suisse Group (NYSE: CS) Annual Technology Conference highlights presentations by Hewlett-Packard (NYSE: HPQ), SanDisk (Nasdaq: SNDK), First Solar (Nasdaq: FSLR), IBM (NYSE: IBM), Applied Materials (Nasdaq: AMAT), Dell (Nasdaq: DELL), Fairchild Semiconductor (NYSE: FCS). The Piper Jaffray Healthcare Conference (NYSE: PJC) hosts presentations by Baxter International (NYSE: BAX), St. Jude Medical (NYSE: STJ), Exelixis (Nasdaq: EXEL), Laboratory Corp. of America (NYSE: LH), Orthovita (Nasdaq: VITA), Quality Systems (Nasdaq: QSII), Ziopharm Oncology (Nasdaq: ZIOP), Abiomed (Nasdaq: ABMD), Celgene (Nasdaq: CELG), Pharmaceutical Product (Nasdaq: PPDI), Wright Medical (Nasdaq: WMGI), Cepheid (Nasdaq: CPHD), Hospira (NYSE: HSP), Isis (Nasdaq: ISIS), Neurocrine Biosciences (Nasdaq: NBIX), Arthrocare (Nasdaq: ARTC), Incyte (Nasdaq: INCY), Salix Pharmaceuticals (Nasdaq: SLXP), Alliance Healthcare (NYSE: AIQ), Alnylam Pharma (Nasdaq: ALNY), BioMarin Pharma (Nasdaq: BMRN), Cardica (Nasdaq: CRDC) and Covance (NYSE: CVD). There are several other conferences in session today at JP Morgan (NYSE: JPM), Citigroup (NYSE: C), Friedman Billings Ramsey, BB&T (NYSE: BBT), NYSSA, Canaccord Genuity, etc. This concludes today's business news review.



Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Spanish Bond Spread Widens, European Unemployment Grows, Indian GDP Thrives

International Markets

Today's international market news drove broad declines across Asian and European equity markets. In Asian, Indian GDP surged in the third quarter, but both India and China are tightening monetary policy in response to rising inflation. In Europe, the opposite is true. Austerity is choking economic growth and economies are failing. This morning, debt spreads widened significantly across Spain, Italy and Portugal on default concerns amidst a report of rising unemployment across Europe.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

(Relative Tickers: NYSE: NBG, OTC: DXBGF.PK, OTC: CRZBY.PK, NYSE: BCS, NYSE: LYG, NYSE: RBS, NYSE: ACA, NYSE: DB, NYSE: CS, NYSE: UBS, NYSE: STD, NYSE: AIB, NYSE: DIA, NYSE: SPY, Nasdaq: QQQQ, NYSE: DOG, NYSE: SDS, NYSE: QLD, Nasdaq: NDAQ, NYSE: NYX, NYSE: TMX, NYSE: CX, Nasdaq: XMZAX, Nasdaq: XVAZX, Nasdaq: FSAZX, Nasdaq: XNKRX, Nasdaq: XNXEX, Nasdaq: XNFZX, Nasdaq: XNAZX, NYSE: NAZ, Nasdaq: TASR, Nasdaq: AHSRX, Nasdaq: AHRAX, Nasdaq: EGCCX, Nasdaq: EGCYX, Nasdaq: EGSAX, Nasdaq: EGSBX, Nasdaq: NRAAX, Nasdaq: NRACX, Nasdaq: NBSLX, Nasdaq: NBSRX, Nasdaq: NRARX, Nasdaq: NBSTX, Nasdaq: VCSRX, NYSE: EWP, NYSE: SNF, Nasdaq: XSNFX, NYSE: EEA, Nasdaq: VEURX, NYSE: PEF, NYSE: EKH, NYSE: GUR, NYSE: EPV, NYSE: VEA, NYSE: DFE, NYSE: DEB, NYSE: IEV, NYSE: RNE, Nasdaq: SERAX, Nasdaq: SERBX, Nasdaq: FEUFX, Nasdaq: FIEUX, Nasdaq: IERAX, Nasdaq: PBEUX, Nasdaq: UEPIX, Nasdaq: PEUGX, Nasdaq: RYAEX, Nasdaq: ASIA, Nasdaq: PRASX, NYSE: PUA, NYSE: NWD, Nasdaq: MEAFX, Nasdaq: EBASX, Nasdaq: EVASX, Nasdaq: SOLF, Nasdaq: CSUN, Nasdaq: BIDU)

Spanish Bond Spread Widens, European Unemployment Grows, Indian GDP Thrives

European Debt Sells Off

Investors sold off the government debt of Portugal, Italy and Spain Tuesday on fear that the thunder will roll from Greece, to Ireland and across Europe's trouble spots before preemptive austerity measures can have any impact. The yield on Spanish 10-year bonds moved as high as 5.7%, 3.05 percentage points greater than the German 10-year. At this time last week, the difference only spanned about 2 percentage points. The Italian 10-year bond opened up a 2.1 percentage point spread, the most since the launch of the age of the euro. Portugal, the next in line to fail according to most pros, saw its bonds move in the same direction.

European Unemployment Record

Unemployment in Europe climbed to a 12-year high. Eurozone joblessness increased to 10.1%, with an extreme 20.7% rate measured in Spain. The next highest rates were seen in Slovakia (14.7%) and Ireland (14.1%). Italian unemployment moved up three-tenths of a point, to 8.6%, while French joblessness improved to 9.8%, from 9.9%. The German labor market also improved over this last month.

Dollar Gains on Foreign Troubles

With all the concerns about Europe, the dollar and yen drew capital, gaining on the euro Tuesday. The dollar is headed toward its first monthly rise against the yen since April, despite QE2. Given the disintegration of Europe and tensions surrounding the Korean Peninsula, the dollar has gained about 0.3% on a Bloomberg compilation of the currencies of 10 developed nations. The yen is doing well also, as you might imagine, rising 12%, while the euro has shed 9.1% against the group in 2010. Today, more money is flowing into dollars and yen, but the Chinese yuan weakened against the yen on speculation it will tighten monetary policy to cool its economic growth.

Indian Growth Heats

India grew its GDP by 8.9% in Q3, exceeding analysts' expectations. Thus, India is expected to raise interest rates, like China, to tame growth. India's second quarter growth was revised higher as well, to 8.5%. Economists are attributing the growth to domestic drivers, favorable weather and foreign investment. Developing market expansion is acting as a nice counter-balance to western weakness, keeping the hemisphere's distress somewhat salvaged. The risk to India and China is runaway inflation, and so India has raised rates for the sixth time this year. CPI measured 11.6% at last check in India, mostly due to higher food prices.

International Market Movers:

Europe:

* ESTX 50: -1.0%
* FTSE 100: -0.4%
* CAC 40: -1.0%
* DAX: -0.4%
* IBEX 35: -0.9%

Asia:

* NIKKEI 225: -1.9%
* Hang Seng: -0.7%
* S&P ASX 200: -0.7%
* CSI 300: -1.7%
* KRX 100: +0.4%
* BSE Sensex 30: +0.6%

Relevant tickers include National Bank of Greece (NYSE: NBG), Dexia (OTC: DXBGF.PK), Commerzbank (OTC: CRZBY.PK), Barclays (NYSE: BCS), Lloyds (NYSE: LYG), Royal Bank of Scotland (NYSE: RBS) and Credit Agricole (NYSE: ACA), Deutsche Bank (NYSE: DB), Credit Suisse (NYSE: CS), UBS (NYSE: UBS), Banco Santander (NYSE: STD), Allied Irish (NYSE: AIB), Bank of America (NYSE: BAC), Goldman Sachs (NYSE: GS), J.P. Morgan Chase (NYSE: JPM), Citigroup (NYSE: C), NYSE: UNB, Wells Fargo (NYSE: WFC), Toronto Dominion (NYSE: TD), PNC Bank (NYSE: PNC), Morgan Stanley (NYSE: MS), NYSE: RY, NYSE: BAP, NYSE: KEY, iShares MSCI Spain Index (NYSE: EWP), The Ibero-America Fund (NYSE: SNF), The Ibero-America Fund (Nasdaq: XSNFX), European Equity Fund (NYSE: EEA), Vanguard European Stock Index (Nasdaq: VEURX), Powershares FTSE RAFI Europe (NYSE: PEF), Europe 2001 (NYSE: EKH), S&P Emerging Europe (NYSE: GUR), Ultrashort MSCI Europe (NYSE: EPV), Vanguard Europe Pacific (NYSE: VEA), Wisdomtree Europe SmallCap (NYSE: DFE), Wisdom Tree Europe Total Div (NYSE: DEB), iShares S&P Europe 350 (NYSE: IEV), Morgan Stanley Eastern Europe (NYSE: RNE), DWS Europe Equity A (Nasdaq: SERAX), DWS Europe Equity B (Nasdaq: SERBX), Fidelity Europe (Nasdaq: FEUFX), Fidelity Europe (Nasdaq: FIEUX), ICON Europe A (Nasdaq: IERAX), Pioneer Europe Fund (Nasdaq: PBEUX), ProFunds Europe 30 (Nasdaq: UEPIX), Putnam Europe A (Nasdaq: PEUGX), Rydex Europe 1.25x (Nasdaq: RYAEX), Nasdaq: ASIA, Nasdaq: PRASX, NYSE: PUA, NYSE: NWD, Nasdaq: MEAFX, Nasdaq: EBASX, Nasdaq: EVASX, Nasdaq: MACSX, Nasdaq: MATFX, NYSE: CZJ, Nasdaq: CHINA, PCX: FXI, PCX: CYB, NYSE: IWM, NYSE: TWM, NYSE: IWD, Nasdaq: AACFX, Nasdaq: GOPAX, Nasdaq: CHUSX, Nasdaq: GCHAX, Nasdaq: BUFCX, Nasdaq: DXHSX, Nasdaq: XHAOX, Nasdaq: NGCAX, Nasdaq: LNGZX, Nasdaq: DPCTX, Nasdaq: EICGX, Nasdaq: EPHCX, Nasdaq: FHKAX, Nasdaq: FHKCX, Nasdaq: IFCAX, Nasdaq: JCOAX, Nasdaq: XCAFX, Nasdaq: MCHFX, Nasdaq: NPCAX, Nasdaq: OBCAX, Nasdaq: UHPIX, Nasdaq: XGCHX, Nasdaq: TCWAX, Nasdaq: HPCHX, NYSE: ACH, Nasdaq: CHINA, Nasdaq: CBAK, Nasdaq: CSUN, NYSE: CHN, NYSE: GCH, Nasdaq: SOLF, Nasdaq: CAAS.

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Restaurant Performance Index Reaches 3-Year High

The National Restaurant Association (NRA) reported today that its Restaurant Performance Index reached a three-year high of 100.7 in October, the highest level since September 2007 (see chart above).  Restaurant sales set a new monthly industry record in October, with sales above last October by more than 4%, and year-to-date restaurant sales above last year by 2.6%.  There were 24,000 new restaurant industry jobs added in October, bringing the total number of new jobs added this year at U.S. restaurants to more than 130,000.  

A spokesman for the NRA, senior VP Hudson Riehle, credited recent improvements in real disposable income (+2.5% year-over-year gain in October, the highest increase in more than two years) as the main driver of increased restaurant activity in October.  Further, Riehle says that with the upcoming holiday period ahead, it is definitely turning into a sales growth momentum  environment for the restaurant industry, which is expected to carry well into 2011.     

Consumer spending at restaurants is highly cyclical, and consumers can easily reduce this type of discretionary spending as economic conditions weaken, and this is exactly what the graph above shows.  In fact, consumers starting cutting back on restaurant spending in the late summer of 2007, even before the recession officially started.  The upward trend in the restaurant index over the last year suggests that consumers are gradually becoming more confident and eating out more often, and it looks like this trend will continue. 

Is Groupon The Next Google?#1Wordl

Career job information for job seekers and find good employment job 
 

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By Evan Miller

I met the CEO of Groupon fifteen months ago at ORD Camp. At the time Andrew Mason had six employees, a little bit of angel funding, and a sheepish face when he explained that he was in the coupon business.

Groupon is now a one-billion dollar company with hundreds of employees. How can a two-year-old coupon company be worth a billion dollars?

I don’t have any of their figures, but I thought I’d sketch out a few reasons I think that, if anything, Groupon is severely undervalued. First, the obvious:

• People love spending money on Groupon. What’s not to love about getting something you can use with your friends for half-price?
• People love talking about Groupon. I’ve overheard girls on the El train getting excited about the weekend Groupon. Groupon is the H1N1 of virality.
• Companies love Groupon. I’ve explained the surprising economics of Groupon in a previous post.
• Groupon has inspired myriad imitators, but none has captured the same magic of Groupon. If Andrew Mason has a secret sauce, he’s not giving away the ingredient list.

So OK, if Groupon starts operating in every city in America and most cities in the world, saving millions of peoples hundreds of dollars each year on sushi, spas, and baseball games, that could be a billion dollar company, right? Call me crazy, but I think a billion is too low. Here’s why I think Groupon will be “the next Google.”

First it helps to understand the current Google. Where does Google make its money, some $20 billion a year in revenue? Casual observers say “search ads.” Sergey calls it “contextually relevant advertising.” Neither description really explains why a single click on a simple text ad can be worth as much $50.

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Jobs Article:Careers Advice for Public Relations

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If you are wondering how a Public Relations Manager, here are some tips and advice on training and started his career job in this area of marketing and public relations, and employment prospects in the UK.
WorkPublic relations (PR) officers to promote good relations between an organization and its customers, investors and the general public. His work focuses on creating and maintaining your organization's image and reputation.
You can work as public relations officer in a public utility in local relationships, or as an account executive at a public relations consultant, public relations services for a number of clients.
Typical responsibilities:
* Planning of PR campaigns and strategy* Control of public perception and the media client or organization* Writing and editing of brochures, pamphlets, press releases, speeches, newsletters and web sites* Organize events such as press releases, press conferences, exhibitions, open days and sponsorship* Develop a good working relationship with the media* Provide advertising and promotional films produced* Public speaking presentations, conferences, radio and television interviews* Represent the company or client events.* Public relations is also known as corporate communications, public affairs or media relations, so it can be known by several titles and functions.
Person SpecificationThe main character of public relations managers are:
* Excellent writing skills with the ability to articulate a clear and convincing* Confidence communication and presentation skills* Creativity and initiative* Good organizational, planning and time management* The ability to work well as part of a team and customer number* Flexibility and ability to multi-task* The ability to work under pressure and tight deadlines* Resistance to treat rejection and criticism of their ideas* Accuracy and attention to detail* Interest in media.
How to make a public relations managerThere are no set entry qualifications to become a public relations officer, but the band is a highly competitive industry to enter and many employers prefer to have a diploma.
You may have an advantage with a degree or postgraduate training in public relations. Other useful topics include:journalismadvertising or marketing and communicationsbusiness or managementpsychologyEnglishpolitics.
View the Chartered Institute of Public Relations (CIPR) for a list of accredited degrees and postgraduate courses in Puerto Rico.
Want a career in public relations has not yet been studied, you may find it useful for the Chartered Institute of Public Relations (CIPR) Advanced Certificate in Public Relations before looking for work.
You will improve your employment prospects by work experience (often unpaid) in the departments of public relations and consulting. You can also experience through activities such as volunteer work with charities or public relations fundraising, or with the participation of student newspapers and societies.
See CIPR and Public Relations Consultants Association websites for advice on finding work experience, and for some practices and the programs of graduate training.
You may be able to close a public relations agency as an administrator or assistant information officer, publicity and promotion of public relations to achieve. It could also enter a second career in PR as its previous experience in journalism, advertising, marketing, fundraising or sales.
Training and DevelopmentTheir training is often at work, possibly through a graduate program of structured training (one of the largest consulting firms, employers).
It can be a benefit to the Chartered Institute of Public Relations to join and work on their professional qualifications are:CIPR Advanced Certificate in Public Relations - suitable for anyone with a maximum of two years experience in a minor role of public relationsCIPR Diploma in Public Relations - a more advanced course for anyone with a PR or graduate degree related to the company and at least one year of experience in public relations or a degree in a subject, plus at least two years experience in public relations.CIPR, visit the Web site for more details about your qualifications, membership and training.
You can also choose to study for Communication Advertising and Marketing Education Foundation (CAM), Diploma in Marketing Communications.
Pay (a rough guide)Starting salaries are usually around £ 15,000 to £ 20,000 per yearWith the experience that can reach between € 20.000 and £ 40.000Account Managers and the Head of Corporate Affairs can earn up to 80,000 pounds and 100,000 pounds per year.
Job prospectsYou could work for a public relations agency and consultancy or home in all types of trading companies, financial authorities, retailers, central and local charities. PR is a growth industry, but competition for jobs is strong.
Jobs are advertised in local newspapers and national magazines, such as PR Week, Press Gazette profile, the website of the CIPR and specialist recruitment agencies. However, not all jobs are advertised, so you could also approach agencies directly, or find work through networking and making contacts in the industry.

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Career Article : Career Advice for Travel Agent

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If you are wondering how to become a travel agent, here are some tips and advice on training and started his career in this area of the hospitality industry and tourism, and job employment prospects in the UK.
WorkTravel agents, often referred to as travel agency sales consultants, clients on business trips and leisure to advise, and holidays to sell. They can work in a travel agency high street or in a call center.
Typical responsibilities:
help customers find a suitable tour package or independent travel, itineraries and accommodation planchecking the availability of holidays chosen by phone or computermaking reservations via computerdeposit taking and filling forms bookscontact customers when their tickets, and collecting late paymentsinform customers of any changes, such as flight cancellations, and alternative arrangements.You should also advise customers about passports, travel insurance, visas, vaccinations and additional excursions. You can make refunds or handle complaints, referring serious problems to a manager or tour operator.
Person SpecificationThe most important personal qualities of a good travel agencies include:
the ability to cope with the pressure at peakgood organizational skillsexcellent telephone manner and strong communication skillssales skills, both face to face and telephoneIT Skillsinterest in travel and geography knowledgethe ability to work well as part of a team.
Making a travel agent thatNormally no special requirements are needed, but can be useful if GCSE (AC) in subjects like math, English and Geography. The most important thing is that entrepreneurs who are enthusiastic and have the right personal qualities and skills to the work program. Can be an advantage if you have experience in customer service or sales. You can also find it helps if you are able to speak other languages.
The most common way to enter this race is to find a career job in a travel agency and train on the track. However, it would be a full-time college course before looking for work. This is not essential, but could give an advantage. Relevant courses include:
BTEC first Diploma in Travel and TourismBTEC National Diploma in Travel and TourismBTEC HNC / HND in Travel and Tourism Managementdegrees in travel and tourism.You may be able to enter this work through an apprenticeship. The range of apprenticeships available in your area will depend on the local labor market and the types of skills needed by employers for their workers.
Training and DevelopmentUsually start as travel consultant practice and receive jobs training from your employer. It is likely that this begins with a brief introductory course. Then you can send in more specialist training and educational visits. You can also use the following ratings:
City & Guilds Certificate in Tourism (Travel) levels 2 and 3 (with the support of the Association of British Travel Agents)Level 1 and 2 of airfare tickets and qualifications recognized by the International Air Transport Association (IATA)City & Guilds Certificate in Business Travel in the introduction, the level of consulting, monitoring and management.You can also gain qualifications such as NVQ in customer service or administration.
Once they have been working travel agents for two years, you could recognize their ongoing professional development proposed by the application of Accredited Travel Plan (ATPS) to connect.
Pay (a rough guide)Starting salaries can be around £ 10,000 per year.Experienced sales consultants earn between € 12,000 and £ 18,000 per year.The salaries of senior staff can be £ 30,000 or more.Travel agencies selling consultants often receive a commission based on meeting performance targets. They can also receive discounts on vacation.
Job prospectsCould their employability with branches in the UK. These range from small agencies, independent agencies to large with many branches.

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Employment Article:Tourist Guide Careers Advices

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If you are wondering how to become a guide, here are some tips and advice on training and started his career in the field of tourism and travel industries, as well as employment prospects in the UK.

Work

Tour guides show visitors around the sites, giving a detailed description of the area and its attractions. Tours can focus on the towns and cities, historic buildings, gardens, religious sites, museums and galleries. Tour guides escort groups around a site, and provide information on aspects such as history, purpose and architecture.

As a guide, can be based on location (for example, a castle or historic house) or the direction of day trips to interesting places or sites, including:

Sightseeing

tours for specific interest groups

theme walks.

It could also function as a "driver", where small groups of tourists on guided tours to places of interest in a car or minibus.

Person Specification

The most important personal qualities of a good travel guide or travel are:

interest in working with people of all ages and backgrounds

confidence to speak before groups of people

excellent communication skills and a clear voice

the ability to present information in an interesting way, although repeat visits several times a day

a good memory for facts, figures and facts

an interest in art, history and related subjects such as architecture.

How to create a guidebook for

You do not have a set of skills to train as a tourist guide, but it would be a good level of general education requirements.

It would be an advantage if you have job experience in dealing with different people in different situations, and make presentations. It would also be useful if you can show interest in the arts, history and related subjects such as architecture. It would be helpful if you speak a foreign language fluently, but this is usually not essential when applying for work.

You can take the courses and exams, which are accredited by the Institute of Tourist Guiding. Depending on the type of tour guide you want to do, you can work on titles such as:

Level 2: Fixed Route Comments, interpretation and presentation - paid or volunteers, guide visitors through attractions such as galleries, cathedrals and stately homes, or fixed-route trips, such as boat trips and bus tours open top

Level 3: Green Plate - Route Comment flexible, Heritage Interpretation and Presentation - to work as a guide in areas such as urban and town centers or tourist attractions, historic buildings, heritage

Level 4: Blue Badge Tourist Guide - for all aspects of training.

In some places, such as Westminster Abbey and York Minster, Blue Badge guides are the only guide (other than staff of the house).

The courses are run by local organizations and regional tourism, or for universities and other institutions. Visit the website of the Institute of Tourist Guiding (More Info) for details of local courses accredited. See the Guild of Registered Tourist Guides web page for more information on the regional tourist offices.

Most courses are about 20 weeks, although some may be two years. They are part time, evening lectures and training on the weekend. Blue Badge offers courses in London once a year, but in other areas that are only made when there is a demand for guides.

If you are in a place where the leaders of the house are used can be trained by the site owner.

Training and Development

If a qualified guide must await the development of their skills by participating in training programs organized by professional organizations as the College of Registered Tourist Guides (more information).

As a member of the Institute of Tourist Guiding programs will be able to continuing professional development (CPD) to close. See the Institute website (more information) for details.

You may want to work for NVQ level 2 and 3 in Travel and Tourism.

Pay (a rough guide)

Repayment rates depends on the employer and location. Most tour guides on their own or a fee.

Job prospects

Many self-employed tour guides, working for tour operators and coach companies. employers' organizations from others like the National Trust and English Heritage and owners of tourist attractions and historic buildings.

In some jobs that only works during the summer or part-time work as a guide on the side of another race.

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Career Article : Chef Careers Advice

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If you are wondering how to cook or chef, here are some tips and advice on training and start your career in this field of hotel, catering and travel industry, and employment job prospects in the UK.
WorkThe cooks are responsible for preparing food using a variety of cooking techniques. In large kitchens, which normally functions as part of a team responsible for a particular area, such as bread and cakes, or vegetables. The chef, who may also be known as the chef or the maitre kitchen, is responsible for running the entire kitchen.
Typical responsibilities:
planning menusdealing with suppliersbudget managementpersonal organizationmonitoring and maintenance of the quality of food in the kitchen producesmake sure the kitchen works within the relevant health hygiene and safety guidelines.Usually started as a trainee chef (or cook 'commissions' chief'), time spent in each area of the kitchen, getting a wide range of culinary skills and techniques, and learn to care for kitchen equipment and tools.
With experience, you can move to section head (or "chef de partie") and the direction of running a kitchen area. The next step was sous-chef (or under-cooking), which would use the experience he had acquired in each section of the kitchen and implementation of all the kitchen, chef's name when needed.
In smaller kitchens, could also be responsible for cleaning the kitchen and customer service.
Person SpecificationThe most important personal qualities of the good chefs are:
a great interest in eating and cookingthe ability to works under pressurehigh standards of cleanliness and hygienethe ability to handle multiple tasksthe ability to work as part of a teamcreativity and imagination to the presentation of foodgood organizational skillscommunication and leadership skillsthe ability to manage a budget.
How to make a cookYou may not need formal academic training to begin work as apprentices (Commission), chef de cuisine. However, some employers prefer a general quality of education, possibly including some GCSEs (AE) in English and mathematics.
There are courses you can do to help you prepare for work as a cook, including:
GCSE in catering and cateringProfessional Cookery Diploma Level 2 (awarded by City and Guilds and ASET)BTEC National Certificate or Diploma in Hospitality or Hospitality SupervisionBTEC HND in Professional CookeryFoundation degree in Culinary Arts Management.Contact colleges or universities in the course entry requirements.
Some courses include a lot of hands-on cooking experience, which may allow you to launch your career in the kitchen to a higher level (instead of working his way up from commis chef or chef junior).
You may be able to enter this work through an apprenticeship. The range of apprenticeships available in your area will depend on the local labor market and the types of skills needed by employers for their workers.
Training and DevelopmentAs a chef cook student can work on NVQ qualifications, with topics including:
Hospitality Level 1Food Processing and Cooking Level 2Professional kitchen, levels 2 and 3Hospitality Supervision, Level 3.You can develop more advanced skills and help his career studying part-time scores as a foundation degree, BTEC CCC or degree in professional cooking, culinary arts management or hospitality management.
Pay (a rough guide)A student (Commission) chef can earn between € 11,500 and € 15,000 per year.The section chiefs (chefs de partie) can earn approximately £ 17,000.A second head chef (sous-chef can earn up to £ 25.000.Cooks (chefs) can earn around £ 30,000.A chef to cook at an upscale hotel can earn between € 40,000 and € 50,000.
Job prospectsThere are about 250 thousand chefs and cooks in the United Kingdom. People First (Sector Skills Council for hospitality, leisure, travel and tourism) report, there is a huge shortage of qualified chefs.
You could find work in the UK in all fields of industry, including hotels, restaurants, bars and cafes, as well as health education, and the military. Many restaurants in the United Kingdom conducted its own or in partnership, and many are owned and operated by chefs.
With the qualifications and work experience, can become a chef. Opportunities for promotion will be higher in large kitchens. You can go into management or take a train and the restoration or the professional kitchen to learn. You can also opt to have their own contract catering.

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Cartoon of the Day

Caption: Separated at birth, the Mallifert twins meet accidentally.

article: Restaurant Manager Career Advice

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If you are wondering how a restaurant manager should be, here are some tips and advice on training and start your career in this field of hotel, catering and travel industry, and employment prospects in the United Kingdom.
Work
Restaurant and catering service managers are responsible for ensuring that customers are satisfied with the quality of the food and service in restaurants.
As a restaurant manager, you can work in hotels, small independent restaurant or part of a large chain and fast food establishments. Your role would include a front of the house, welcoming restaurant customers and show them to your table.
As catering manager to work in larger restoration activities such as dining rooms for business or factory, hospitals or schools. Do you have less contact with customers of a restaurant manager and spend more time behind the scenes.
Typical responsibilities:
planning menus
advertising vacancies and recruiting staff
ensure that all staff fully trained
keep employees motivated at the highest level of service delivery
organizing shifts and shifts
manage inventory and budgets
act in accordance with strict hygiene, health and safety standards.
Its goal would be the highest standards of customer service and food quality to achieve.
Person Specification
The most important personal qualities of managers of good restaurants include:
tact and diplomacy
the ability to motivate and manage staff
Strong customer service skills
strong communication skills
the ability to remain calm in a crisis
a well organized and planned approach.
How can a manager of a catering
You can start as a trainee manager, for example, a small independent restaurant, if you have a good overall quality of education, including GCSE (AC) in English and mathematics, or a BTEC National Certificate in Hospitality,
It is also possible that your way of working in a restaurant or catering after starting the administrator of a waiter or waitress, cook, assistant service counter or kitchen helper. In these jobs can be an NVQ in Hospitality, Hospitality experts Services Food and Beverage and out - these qualifications, combined with his experience, you can prepare for a leadership position.
Many hotel chains management program management practices that can result in the restaurant or catering management. fast food chains, restaurants and large catering companies probably a similar system to implement.
To obtain a management trainee program, which often need a degree from a foundation degree BTEC HNC / HND or degree, although some employers will take on with a level or a BTEC national award. Topics such as hospitality management business, culinary arts management, and hotels and restaurants would be particularly useful. Contact colleges and universities for the contact details of the course.
Training and Development
Once you work as an apprentice director or manager, usually receive training on the job. You can support this program, working on a degree from a Level 3 NVQ in Hospitality Supervision.
If you have graduated with a degree not related to the hospitality, conversion training year BA (Hons) in management of services. With a degree in a relevant subject, you can advance your career through a postgraduate diploma or Masters in Hotel Management.
A restaurant, you are encouraged to apply for a personal license to sell alcohol. In England and Wales, restaurants that serve alcohol are required by law (since 2005) have a business license and a stand named individual (usually the administrator). To request a personal license, must meet four criteria. You should:
at least 18 years
in the last five years, have lost a personal
an accredited licensing qualification (or a person "in the description noted)
not have been convicted of relevant or foreign material.
Three accredited certification bodies provide Level 2 National Certificate Personal Licence Holders qualification, the British Institute of Innkeeping Awarding Body (BIIAB), objective and GQAL).
Pay (a rough guide)
Starting salaries for trainee restaurants or catering managers can be between £ 16,000 and £ 20,000 per year.
With experience, this can lead to about 30,000 pounds.
Job prospects
Many of the restaurants in the UK are owner operated or managed by the owner, in collaboration with a manager. With the support and financial experience, you can configure and run their own restaurant.
As the manager of the restoration, which had vacancies in business, industry, education, health and the military. With the experience they could launch their own contract catering.

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Career Articles :Hotel Manager Career Advice

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If you are wondering how to become a hotel manager, below are tips and advice on training for and beginning careers in this area of the catering, hospitality and travel industry, as well as job ( career ) prospects in the UK.

The Job Description
Hotel managers oversee all aspects of running a hotel, from housekeeping and general maintenance to budget management and marketing.

Large hotels may have managers who are responsible for each department and report to the general manager. In smaller hotels, the manager is more involved in the day-to-day running of the hotel, often dealing directly with guests.

Typical responsibilities:

setting annual budgets
analysing financial information and statistics
setting business targets and marketing strategies
managing staff
organising building maintenance
making sure security is effective
dealing with customer complaints and comments
making sure the hotel follows regulations such as licensing laws
securing corporate bookings for entertainment and conference facilities.

Person Specification
The key personal attributes of good hotel managers include:

business skills
the ability to manage staff
good written and spoken communication skills
tact and diplomacy
the ability to keep calm under pressure and solve problems quickly
energy and enthusiasm
good organisational skills.

How to become a hotel manager
To train as a hotel manager, you need to work your way up to management level from a more junior position or enter management after completing a degree, postgraduate qualification, or BTEC HNC/HND in a relevant subject.

Suitable degree and HNC/HND subjects include:

Hospitality Management
International Hospitality Management
Hotel and Hospitality Management
Hospitality and Licensed Retail Management.
You can also do foundation degrees in relevant subjects, such as Hospitality Business Management. These are vocational courses that are usually studied over two years. You can study part-time whilst in relevant employment or full-time with work placements.

For information about foundation degrees see Foundation Degree Forward. To search for colleges and universities offering foundation degrees, HNDs and degrees see Universities and Colleges Admissions Service (UCAS).

If you have a degree you may be able to join a management training scheme for graduates. These are run by some hotel chains, and involve taking on high levels of responsibility from the start.

You may be able to get into this job through an Apprenticeship scheme. The range of Apprenticeships available in your area will depend on the local jobs market and the types of skills employers need from their workers.

Training and Development
Once you are working as a hotel manager, you would usually train on the job, getting experience in all aspects of the hotel.

You may be able to start at a lower level, such as administrator or department manager, and work towards qualifications including:

NVQ Level 2 in Multi-Skilled Hospitality Services
NVQ Level 3 in Hospitality Supervision.
The Insitute of Hospitality awards the following qualifications for managers:

Level 2 Business Skills Certificate for Hospitality, Leisure and Tourism
Level 3 Certificate in Management for Hospitality, Leisure and Tourism
Level 4 Diploma in Management for Hospitality, Leisure and Tourism.

The Pay (a rough guide)
Trainee and assistant hotel managers earn around £15,000 a year.
Managers of small hotels or deputy managers can earn from £18,000 to £25,000.
A senior or general manager can earn up to £55,000 or more.

Job Prospects
You could work as a hotel manager in hotels all over the UK. With some large hotel chains you could also have the opportunity to work abroad. If you start as a trainee with a hotel chain you will need to be prepared to travel around the country.

Your prospects for progression will depend on the size of the hotel and your experience. You can improve your chances of progression if you are willing to move around the country. As an experienced manager you could open your own hotel.

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Career Article:Cabin Crew Career Advice

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If you are wondering how to become air cabin crew, below are tips and advice on training for and beginning careers in this area of the catering, hospitality and travel industry, as well as jobs prospects in the UK.

The Job Description
As a member of an air cabin crew, also known as flight attendant, you would be responsible for making sure air passengers have a comfortable, safe and pleasant flight.

Typical responsibilities:

Before a flight you would:

attend a briefing on the flight and schedule
find out if any passengers have special requirements
check the aircraft to make sure it is clean and tidy
make sure that there are enough supplies and that emergency equipment is in place and in working order
greet passengers and direct them to their seats
make sure luggage is safely stowed away
demonstrate emergency equipment and procedures, making sure passengers listen to the safety demonstration.

During a flight you would:

help passengers, including giving first aid when necessary
make announcements for the pilot
serve food and drinks sell duty-free goods
reassure passengers if there is an emergency, such as a cabin fire, and make sure that they follow safety procedures.

At the end of a flight you would:

circulate and collect customs and immigration documents
make sure passengers leave the plane safely
fill in a written flight report recording any unusual incidents
take records of food and drink orders and duty-free sales.
You would typically work as part of a larger on board team, which would be different on each flight.

Person Specification
The key personal attributes of flight attendants include:

be tactful but assertive, with the ability to deal with difficult situations politely but firmly
have a clear speaking voice
enjoy team work
be calm under pressure and in emergencies
be confident, friendly and good with people
be sensitive and reassuring towards people who are anxious or upset
be able to work quickly and efficiently
be confident with money, including foreign currency.

How to become a flight attendant
You will need a good standard of education, many airlines ask for four or five GCSEs (grades A to C)/S grades (1 to 3), or the equivalent, including maths and English. Entry requirements vary, so you should check with the airline.

You should also:
be physically fit, with normal colour vision and good eyesight
be able to swim at least 25 metres
be smart and well-groomed
not have tattoos or body piercings that can be seen
hold a valid passport which allows you to travel anywhere in the world.
You should speak English well. Some airlines want staff who can speak more than one language. Previous experience in customer service is also desirable, and nursing, or hotel and catering experience may be particularly useful.

You must be over 18 to work as a member of an air cabin crew (some airlines set the minimum entry age at 21). The upper age limit varies between airlines, but with many companies you will have to retire at 50 or 55. Height and weight requirements also vary between airlines, so you should check with them.

There are several nationally-recognised qualifications which can help you develop the skills you need to work as a member of an air cabin crew. These are:
EMTA Awards Ltd (EAL) NVQ Level 2 & 3 in Aviation Operations in the Air - Cabin Crew
City and Guilds NVQ Level 2 in Aviation Operations in the Air - Cabin Crew
Edexcel BTEC Level 2 Certificate in Preparation for Air Cabin Crew Service
EMTA Awards Ltd (EAL) Intermediate Level 2 Certificate in Air Cabin Crewing
NCFE Level 2 Certificate in Airline Cabin Crew.

Training and Development
Airlines provide their own training programme for new entrants. This usually lasts for four to six weeks and covers:

security
safety and emergency procedures
first aid
customs and immigration regulations
customer relations and passenger care
currency exchange
galley management
food preparation and service
personal grooming.
After basic training most airlines have a probationary period of three to six months, during which performance is monitored by trainers or senior crew. You will have to pass regular examinations to test your knowledge of safety and emergency procedures, and to make sure you meet official first aid requirements.

The Pay (a rough guide)
As a new recruit you will earn about £12,000 a year.
When you have more experience you could earn £14,000 to £18,000 a year.
Salaries for senior crew can be up to £22,000 a year.
You may also get a flying allowance which can be up to £4,500 a year when you first start work.

Job Prospects
There is a lot of competition for places with airlines. You will usually have to live near the airport where you are based. You could be based overseas as international cabin crew with a British airline. 

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Career articles: Oceanography Career Advice

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If you are wondering how to become an oceanographer, below are tips and advice on training for and beginning careers ( job) in this area of the environmental sciences, as well as job prospects in the UK.
The Job ( career )Description
Oceanographers use their knowledge of biology, chemistry, physics and geology to study the seas and oceans. Examples of their work include conducting research into the effects of climate change, and exploring the impact of pollution and offshore engineering on marine ecosystems.
As an oceanographer, you could specialise in one of four areas:
marine biology – studying marine plants and animals
marine chemistry – anaylysing the chemical composition of seawater and the behaviour of pollutants
marine geology – studying the structure and make-up of the ocean floor
marine physics – as a marine physicist you would study water temperature and density, wave motion, tides and currents.
You would use a variety of techniques to collect data, including:
remote sensors on satellites
instruments on towed or self-powered submersibles
apparatus on moored or drifting buoys
probes lowered into the sea
drills to explore the seabed and acoustics.
Your work would vary depending on the area you specialise in, but will often include:
research and writing reports
presenting and publishing your findings
working with computer modellers to produce graphical simulations of your research
managing a project
leading a team of technical support staff.
Person Specification
The key personal attributes of good oceanographers include:
strong mathematical and scientific skills
good powers of observation
practical skills
good research and problem solving skills
a flexible approach to work
accuracy and attention to detail
good physical health and fitness for research work
the ability to work alone and as part of a team
excellent spoken and written communication skills.
How to become an oceanographer
To become an oceanographer you need a degree in a science-based subject (such as maths, physics or chemistry). As an alternative, you could do a joint honours degree, studying oceanography with either maths, physics or chemistry. Many employers also prefer you to have a relevant postgraduate qualification. For example, a good preparation for work in marine physics would be a physics degree followed by an MSc in Oceanography.
Many degree courses in this area include fieldwork and take around four years to complete. At postgraduate-level, there are taught Masters degrees, research degrees and PhD programmes. The Society for Underwater Technology (SUT) has details of relevant courses and possible funding options; see Further Information.
To get onto a relevant science-based degree you will usually need:
five or more GCSEs (A-C) including English, maths and three science subjects
two or three A levels, including maths, physics and one other science or computing
However, please check with course providers because alternative qualifications may also be accepted.
Training and Development
As an oceanographer you will usually receive on-the-job training from your employer, which will often be combined with short courses, self-managed learning, seminars and conferences.
To help keep you up-to-date, the SUT has details of courses including a Continuing Professional Development programme offered by a group of universities known as MTEC (Marine Technology Education Consortium).
The Pay (a rough guide)
Starting salaries can be between £19,000 and £22,000 a year
With experience this can rise to around £36,000.
Job Prospects
In the UK, many jobs in oceanography are created and funded by the Natural Environment Research Council. You will find jobs (careers )opportunities with organisations, such as the National Oceanography Centre (Southampton), Sea Mammal Research Institute and the Tyndall Centre for Climate Change Research.
You could also work within teaching and research at a university, with the Royal Navy, the Ministry of Defence (MoD), the Environment Agency, and the Department for Environments, Food and Rural Affairs (DEFRA).

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