Don't underestimate Las Vegas threat
The following is a Counterpoint column:
By Jim Morgan
How somewhat naive the headline "Three cheers for Dondero's departure" in High Point City Councilman Bill Bencini's letter to the editor, published in your Oct. 9 edition.
Bill Bencini seems to express some level of personal frustration with Harvey Dondero and seemingly obvious extensive irritation with even the existence of the Las Vegas furniture market.
As a recently retired CEO serving the high-tech capital equipment markets for both the textile and furniture industries and as a 32-year resident of Greensboro, I strongly support the High Point Market and recognize its economic importance to High Point and Greensboro as well as to surrounding communities. On the other hand, I also recognize the potential danger of the lure of Las Vegas, which seems to be moving forward to dominate the trade show and convention business for most U.S. industries.
Let's face some facts:
1. It is the visitors who make the market a success, not the locals. High Point vs. Las Vegas?
2. Airline tickets into the Triad are expensive from most locations because we are not a competitive destination. To Las Vegas, there are bargain fares from virtually anywhere in the U.S.
3. Hotel rooms are another issue. It is normal for area hotels to increase rates for the High Point Market. In Las Vegas, there are first-class hotel bargains. I stayed at the Paris Hotel during the July 2005 Las Vegas market for $105 per night.
4. Car rentals are not required in Las Vegas.
5. Entertainment in Las Vegas, which can be an important draw to conventioneers, is without an equal in the U.S.
6. As overseas furniture manufacturers become more directly active in the U.S. market, emotional ties to High Point do not exist.
Harvey Dondero is a neighbor and a friend, and my wife and I hate to see his family move away. More importantly, I hate to see someone with 10 years of experience in the furniture industry and career-long experience in the home furnishing industry take over responsibility for the success and future growth of the Las Vegas market. An "exposition industry specialist" heading up the Las Vegas market without ties to both the domestic and foreign furniture manufacturers and with a learning curve ahead would be more desirable as it could delay potential success in Las Vegas.
Can we ask Bill Bencini to outline his recommendations as to how High Point can react to this financially dangerous challenge from Las Vegas?
The writer lives in Greensboro.
Comments (5)
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Having been to both Vegas and High Point: I don't see how High Point has a chance.
High Point once had trees, good workers, and stuff being made here. It might still have good workers, but the trees are shipped overseas and nothing is made here.
Vegas never had trees or manufacturing, but they do have good workers - in both casinos and the legal sex industry.
What choice is that?
Posted on November 4, 2006 6:10 AM
Having worked as a temporary sales rep at the market for the last 5 markets, I feel I am an "expert" on some things. First, I had numerous buyers tell me they were so glad to back in High Point and would not go to Vegas again. They applauded the shuttle services, the warm reception and help from the local people. The showroom I work for had a very good market. However, our biggest sales came from buyers from Mexico and South American countries. (I know Mexico is in North America, Howie)
The lte made some valid points, airline flights for one thing.
However, don't sell High Point short.
Posted on November 4, 2006 7:23 AM
The "new" things about the HP Market are a direct result of several million dollars of the NC taxpayer's money. It seems that most of the furniture industry and city leaders of HP want the market to remain in HP. Yet, they want the PEOPLE'S money to keep it in HP! For some of the furniture industry management to make several million dollar salaries with bonuses as well, why are they not the one's shelling out the money to "revitalize" HP to keep the market here?
I want to vomit every time I drive by the IHFC building at commerce and see the wasted taxpayer dollars! Our state and local leadership will not spend money where it should, yet wastes millions on this "shuttle" crap for the market. I NEVER remember hearing this garbage 20-25 years ago. The individual showroom/manufacturers had their own shuttle service. That worked then, why not now?
Shalom
Posted on November 4, 2006 4:10 PM
... it's called Corporate Welfare, Darryl.
Here's how it works: Pay the top corporate guys ridiculous salary dollars and let them convert profit dollars into contribution dollars to politicians that return ridiculous volumes of taxpayer dollars to prop up the top corporate guys ideas.
EVERYONE WINS .. except the Tax Payer, and the best part is while every one does it, we can give TOP blame to the TAX AND SPEND DEMOCRATS!!
Go us!
Posted on November 4, 2006 6:45 PM
Darryl,
Good point.
Posted on November 6, 2006 11:36 AM