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On the one hand, you'll likely never find anything so aptly named in finance. It is indeed a beige book. But its real title is the Summary of Commentary on Current Economic Conditions by Federal Reserve District. About two weeks before the Federal Open Market Committee meets to decide on interest rates, Fed governors get a compilation of how individual Federal Reserve banks view their economic health. (Actually, a different Fed bank is responsible each time to put it together, so they pass the workload around like roommates deciding who'll do the dishes.)
Obviously, it's important stuff. Since it's rather timely, many stock traders and economists use it to gauge whether the Fed has the same view of economic conditions as the market seems to.
But it's not scientific -- even the Fed admits that it's "anecdotal." And the Beige Book is the result of dozens of interviews with economists, bank branch managers, market experts and business leaders. As a result, a survey of pessimists in a district can paint a decidedly glass-half-empty picture. What's more, the Beige Book surveys all 12 Fed districts, and economic conditions in Cleveland can be much different than, say, Richmond, Va.
As a result, the Beige Book is rarely a market-mover, unless it contradicts a bunch of other data. So, check out the summary, but you can find better reports to read before nodding off.
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Monday, June 30, 2008
Pack It and Ship It - Marriott Rewards(R) Members Can Now Ship Their Luggage Using Points
Comtex
BETHESDA, Md., Jun 30, 2008 (BUSINESS WIRE) ----With the airlines making it harder to check luggage, Marriott Rewards, Marriott(R) International's (NYSE:MAR) award-winning loyalty program, and The Luggage Club have teamed up to allow members to redeem points for gift cards to ship luggage door to door. Marriott Rewards members will no longer have to face long baggage check lines or fight the crowds at the baggage carousel.
The Luggage Club is positioned to meet the needs of this growing segment of travelers that has decided to travel stress-free by shipping their luggage in advance of their trip. Travelers' baggage can be picked up at their home, office or location of choice and delivered to their final travel destination, and returned again at the end of their trip. Plus, The Luggage Club has no limits on size, weight or number of pieces that can be shipped.
"We want to make travel as easy as possible for our members," said Ed French, senior vice president, Marriott Rewards. "This is a service that we think will be extremely valuable to our members who spend many of their days navigating airports."
Additionally, "It is our responsibility as a business in the travel industry to step up to the plate and make travel more hassle-free," Todd Kempinger, CEO of TLC, said. "Our goal is to give our customers the convenience and peace of mind that their luggage will be delivered to their travel destination on time."
Marriott Rewards members can earn 10 Marriott Rewards points per dollar on services and redeem points for gift cards in increments of $50, $100, $250 and $500. For more information, go to www.MarriottRewards.com.
Marriott Rewards points can be earned and redeemed at over 2,800 Marriott International hotels around the world, including Marriott Hotels & Resorts, JW Marriott(R) Hotels & Resorts, Renaissance(R) Hotels & Resorts, Courtyard by Marriott(R), Fairfield Inn by Marriott(R), SpringHill Suites by Marriott(R), Residence Inn by Marriott(R), TownePlace Suites by Marriott(R), Marriott Vacation Club(SM), Horizons by Marriott Vacation Club(R) and Grand Residences by Marriott(R).
To make a hotel reservation, call 1-800-MARRIOTT or visit Marriott.com. For information about Marriott Rewards, call 1-800-450-4442 or log on to MarriottRewards.com.
Terms and Condition:
Marriott Rewards members must register with The Luggage Club (TLC) at www.theluggageclub.com to receive a TLC gift card by email. When registering with The Luggage Club, members must include their Marriott Rewards account number to earn points for purchases. Upon receipt of the TLC gift card, members must contact The Luggage Club for reservations. TLC gift cards are valid for 12 months from date of order. Members will earn 10 Marriott Rewards points per US$1 on TLC credit card purchases, but will not earn points for services paid for with a TLC gift card. All Marriott Rewards program, including Marriott Rewards Elite membership, terms and conditions apply. Complete Marriott Rewards program terms and conditions and privacy policy apply and can be found online at http://www.marriott.com/rewards/terms/default.mi. If you have questions or comments, please contact your Marriott Rewards local Guest Services offices. All Terms & Conditions of The Luggage Club apply. For full details, visit www.TheLuggageClub.com.
SOURCE: The Luggage Club
Marriott Communications Laurie Goldstein, 301-380-5296 laurie.goldstein@marriott.com or The Luggage Club / Vollmer PR Lindsay Stout, 972-488-4790 lindsay@vollmerpr.com
Copyright Business Wire 2008 ********************************************************************** As of Thursday, 06-26-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 05-22-2008 for MAR @ $34.08. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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