During the Katrina fiasco, Bush gaffed by saying to the overwhelmed head of FEMA: “Brownie, you’re doing a heckuva job”
Over the weekend – after the U.S.’s first ever debt downgrade — President Obama asked Treasury Secretary to stay on until the election.
Is it just me, or was it Obama’s Brownie moment?
The Obama administration has put on hold plans to sell the rest of its stake in GM because the auto maker’s shares have slumped this year.
The U.S. Treasury aimed to sell more of its 26.5% stake in GM by August or September.
GM stock would need to hit $53 a share for the U.S government to break even on its $50 billion bailout of the auto maker.
At $30 a share, the U.S. would lose more than $10 billion on its $50 billion bailout of GM.
So far this year, GM stock is down 31%.
On Tuesday, GM stock closed at $25.54, up 97 cents.
OUCH !
Punch line: Colleges that are able to fill their football stadiums and basketball arenas are starting to price differentially – charging more for “hot” games.
But, the bulk of colleges are having trouble filling seats and are outsourcing ticket sales to aggressive outside organizations (think, “Boiler Room”)
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Excerpted from USA Today …
The “Haves” – Differentiated Pricing
Schools with overwhelming ticket demand are leveraging it as never before in an effort to boost revenue.
Notre Dame, for example, is varying football ticket prices by opponent for the first time this season. Games against Michigan State, Southern California and Boston College are $80; that’s $10 more than tickets for games against South Florida, Air Force and Navy.
The “Have Nots” – Outsourced Selling
“For years and years, if you put up enough billboards and sent out enough brochures, people would show up” at college games.
There not only was no need to be pushy in order to sell tickets to college games, there also was a fear of offending donors and deep-rooted fan bases by allowing non-profit colleges to have even the appearance of a chase-every-possible-dollar, professional sports business.
But, “colleges, for many years, were almost in an arms race for who could have the most seats — and they were able to fill those seats, for the most part. That has changed. … Most schools across the country have an issue with their football and/or their basketball seating demand vs. their seating capacity.”
Observers attribute this supply-demand imbalance to a combination of the tough economy, high gas prices and advances in high-definition television that have improved home viewing.
“An empty seat leaves money on the table and is a cancer to your brand.”
Hence, the rise in outsourcing
The number of schools outsourcing proactive, full-time ticket-selling operations to companies like Aspire, IMG, and Monumental S&E has recently skyrocketed.
The typical setup: 12 to 14 full-time staffers working on commission, each making 80 to 100 phone calls a day from a database of school-connected names.
“Get potential customers to talk about their love of the school. Seek referrals and new leads. Above all, make sales — and get psyched about making sales. Every time a staffer makes a sale, they ring a bell. Staffers who don’t ring the bell enough get fired.
The Homa Files 