wk11_Dubai & Tiger Woods

wk11_Dubai & Tiger Woods - man-made islands...

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Dubai’s Problem Rocked the World
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Will Dubai's Financial Problems Spread across the Globe? Dubai rocked the financial world on Nov 25, 2009 when Dubai asked creditors of Dubai World and Nakheel (the builder of its palm-shaped islands) to agree to a standstill on billions of dollars of debt as a first step to restructuring. Stock-market indexes plummeted Cost of insuring against a default by Dubai jumped and the dollar strengthened as investors rushed back into greenbacks.
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Dubai’s Problems 1. Unlike the other emirates that join to form the U.A.E., Dubai has little oil or gas. 2. Concentrated on building itself up as a vibrant business and transport hub and the home to some of the world's biggest, flashiest and most modern real estate. 3. To lure in the masses, Dubai promoted itself as an income tax free resort for the world's rich and upper middle class.
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Dubai’s Problems 4. Developed a signature over-the-top style geared to the tastes of newly minted wealth — an indoor ski slope, a luxury condominium development with
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Unformatted text preview: man-made islands arranged in the shape of a huge palm tree, and the tallest building anywhere. 5. But when world markets collapsed in 2008, so did Dubai's real estate market Dubai Worlds Unfinished Islands The Financial Impact of the Tiger Woods Scandal The Real Losers of the Scandal Hurt corporate sponsors and shareholders Tiger's ability to sell products is substantial. The collective market impact of the whole scandal was calculated at roughly $12 billion. Hurt network TV ratings The Tiger Woods television effect is substantial. Network TV ratings fell by almost half when Woods didn't play in a given tournament during 2008. Hurt tournament attendance The Tiger Woods attendance effect at golf tournaments is substantial. Anywhere from 15%-25% more spectators showed up to tournaments when Tiger was playing. Golf is huge business; annual revenues of around $76 billion Impact on ticket sales, corporate sponsors, etc....
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This note was uploaded on 03/25/2012 for the course FINS 3616 taught by Professor Curry during the Three '10 term at University of New South Wales.

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wk11_Dubai & Tiger Woods - man-made islands...

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