Exclusive outtakes from industry leaders
This week’s annual Reuters Global Mining and Steel Summit has been a pretty rich event.
Oh, the guests have been stellar, for sure, but there’s also been a lot of talk about gold and jewelry and the prospect that maybe someday this lousy economy will turn around.
For Peter Marrone, chief executive of Yamana Gold, customers’ willingness to buy jewelry is an important consideration in providing outlook for his company.
But even with times so tough, jewelry sales are an inexact science, he warned. And overall gold demand is less a matter of whether someone is willing to shell out a couple hundred dollars on a new necklace and more based on investors looking for safe-haven investments in times when other investments are far shakier.
There is an entire industry out there about what to do to make a merger a success. Many of us know bankers or lawyers who work for weeks and hours on end just to make sure their deals are perfectly done with all the t’s crossed and the i’s dotted.
Millions of dollars are spent on just teaching people the best way to get a transaction from idea to completion.
It seems that any sentence about Las Vegas, the people who work there or the stocks of the companies that run the big casinos ends better with the word “baby”. It’s almost like you can hear Frank saying it to Dino on their way into some smoky, after-hours cocktail party.
So, even though Bill Lerner, casino and gaming analyst at Deutsche Bank didn’t exactly end his comments on casino stock picks like Sinatra might have … well, it’s Vegas, baby!
The state of the airline industry and travel overall is not poised for a rapid takeoff in 2009 and looks like it will remain in rough shape until next year, said Pierre-Henri Gourgeon, chief executive of Air France-KLM, on Monday at the Reuters Travel and Leisure Summit.
The head of Europe’s largest airline, who became CEO in January, said he was unsure when things would turn around, but warned that both passenger and cargo metrics were down for the airline.
Throughout the current recession, many of the companies’ executives at this week’s Reuters Manufacturing and Transportation Summit have found an opportunity to review, pare back and possibly add on to their existing business mixes.
Such is the case for Edward Campbell, chief executive of Nordson Corp, which has a uniquely diversified set of businesses under its umbrella and is looking at what makes sense for them going forward.
Speaking at the Reuters Manufacturing and Transportation Summit, Rapp (who, incidentally, has been with Caterpillar for almost 30 years and is still considered something of a “youngster” there!!) said that while there are still many hurdles for the company to avoid in the short term, he thought CAT’s previous guidance was within reach.