LyrArc Article Gist
The Atlanta, U.S., firm of Portman will build a new Hilton Waldorf Astoria hotel at No. 2 Bund in Shanghai, an address that had an ornate ballroom and social club for European tycoons during the colonial period called the Shanghai Club. Built in 1910 this address saw Europeans, the Japanese in 1941, the Mao period and Red Guards, and now a return of Western tourists. All this is happening as the World's Expo is opening in Shanghai in April 2010.

LyrArc Article Gist
The chief economist for the Conference Board says the economy faces serious headwinds as about half of the growth or +2.44 % came from inventory changes in the latest BEA numbers. These numbers, adds Gordon of Northwestern University, are likely to wind down and only consumer spending is serving as a factor holding things up. Exports are playing less of a role than needed and the state and local governments will continue to play a negative role as their budgets are being cut.

LyrArc Article Gist
Robert Gordon of Northwestern University shows the optimistic and pessimistic factors in the economy in terms of their contribution to GDP. He says botht he optimists and pessimists ae correct, with the question being the relative strength of the factors. He says the recovery will not be a V shaped recovery , and it will only be half as strong as the recovery of 1983-84, in the range of 3% to 4%, the annualized growth rate between 1982 4th quarter and 1984 4th quarter was 6.4%. Annualized growth according to the Commerce Department was 3.2% in 1st quarter 2010, following 5.6% growth annualized in 4th quarter 2009 In this picture international trade and exports have not played as strong apart as imports continued to rise. Overall personal consumption expenditures held up pretty well and showed +2.55, inventory change +1.57 as companies began to replace IT and other equipment, producers durable equipment and software, federal government +0.11. On the pessimist side residential structures were -0.29, nonresidential structures -0.44, net exports -0.61 showing that exports are not playing the part needed for the economy to recover, and state and local governments are -0.48. The progressively deteriorating situation expected as state and local governments cut back will weigh as aserious negative in this respect says Gordon. And this just as the inventory chnge numbers wind down to a smaller number. The total has to add upto the +3.24% growth for 1st quarter 2010 on an annualized basis as shown in the Bureau of Economic Analysis numbers. ...