The show must go on - and show a profit
Article Abstract:
The financing of theatrical productions is complex and has many unique features. Financing is derived primarily from wealthy individuals, known as 'angels' in theater patois. Funds are raised by dividing the sum of production costs and a contingency reserve into 100 shares and inviting subscriptions. While the majority of productions earn their angels some return, angels typically lose all or some of their money on one-third of all shows that they invest in. However, returns from successful productions are high: the musical Cats gave its angels a 2,400% return over its 10 year run. There is little information concerning risk in the theater due to the lack of information available to investors. There is no recognized and regulated aftermarket for shares in a production, but the implementation of such a market would allow risk to be objectively measured.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
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Prosperity without profit
Article Abstract:
The package tour industry in the UK has become highly competitive in the past several years and profits have dropped for a number of reasons including: increasing seasonal and volatile market conditions; increasing price competition; and decreasing consumer brand loyalty. Other factors that have led to decreased profits include: increasing airport congestion and flight delays; increasing mortgage and interest rates; and increasing emphasis on a down-market attitude on pricing concentrating on airline capacity instead of promoting higher-market quality products. It is predicted that the travel service companies will probably merge in to a few very large full-service companies operating their own retail outlets and working closely with airlines.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
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An option on future prosperity
Article Abstract:
The impending merger of the London International Financial Futures Exchange (LIFFE) and the London Traded Options Market (LTOM) shall create a new body to be known as the London International Futures and Options Exchange. The long-planned merger, which was first proposed even before the 1987 market crash, unites the flourishing LIFFE with the relatively weak LTOM. The merger is expected to revolutionize the derivatives market in much the same way that the 'Big Bang' in the securities industry fundamentally changed London's stock trading operations after 1986.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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