Based on the feedback we receive from those attending our time management and stress management seminars, it’s quite evident that the majority of us appear to have less and less spare time to focus on newspapers, magazines, and television/radio newscasts to catch up on the latest business news. Internet surfing is even more time consuming.
To address that growing concern, we’d like to occasionally offer you a “big picture” update on recent business tidbits. Nothing in depth, just a quick overview to keep you “in the know.” For instance:
- The Borders Group appears to be in the midst of some major changes as a result of losing $73.6 million for the three months ending February 3. They plan to remodel their U.S. superstores, jump back into online bookselling, and close 300 of their 564 Waldenbooks stores by the end of next year. They’re also giving serious consideration to selling off most of their international businesses.
- The latest fund-raising trend among state governments appears in the form of privatizing their state lotteries. Illinois is the latest state to jump on this growing bandwagon. Governor Rod Blagojevich figures the sale of their lottery could raise as much as $10 billion. It currently generates approximately $650 million a year in profit on revenues of $2 billion, which is being spent on education. The new owner will receive all revenue and profit for 75 years. Two years ago, Chicago Mayor Richard Daley sold off a 7.8-mile tollway for $1.83 billion. Indiana is currently investigating the sale of their lottery as well.
- Time Magazinereports that consumer spending currently powers 70% of the U.S. economy! Interestingly enough, average DAILY purchases by U.S. consumers include:
- 1,900,000 Krispy Kreme original glazed donuts
- 87,431 Slim-Fast Optima multi-pack shakes (hopefully by those buying the donuts!)
- 20,826 Dell notebook computers
- 88,163 Apple iPods
- 50,051,507 12 oz. cans of Pepsi
- 125,000 Barbie dolls
- 628 Toyota Camry 4-cylinder LEs
- 2,400,000 Burger King Whoppers
- According to a recent study conducted by the University of Michigan, a person should take three half-hour naps at work each week in order to lower the risk of heart-related death.
- It is estimated that U.S. businesses are losing close to $150 billion per year due to lost productivity as a result of fatigue.