Research Paper on:
Shanghai and Hong Kong Hotels' Financial Analysis

Unformatted Sample Text from the Research Paper:
A country music performer in the United States wrote and recorded a song containing the words, "Where were you when the world stopped turning that September day?" The  terrorist attacks on New York and Washington on September 11 changed more than only airport and airline security measures. Airlines were grounded for several days, but passengers were not  of a mind to continue their travel plans after commercial carriers resumed service while the search for survivors and bodies continued. The economies of much of the developed world  already had turned soft, and there was speculation that the US would enter a market-correcting recession even before the terrorist attacks. The US economy was teetering on the edge;  the attacks pushed it on over into recession. Implications were felt literally around the world in the hospitality and travel industry. The  purpose here is to assess the quality of financial management during the period at The Hongkong and Shanghai Hotels, LTD. The 2001  Economic Turning Point The fallout of the terrorist attacks affected far more than only the US airline industry. Would-be travelers were forced  to cancel plans while the airlines were grounded, meaning that hotel and car rental reservations had to be canceled, and the travelers expenditures would not be taken into other local  economies. This was only a short-term situation; US airlines resumed operations only three days after the attacks. Travelers were not so open  to resuming their plans, however. US travelers were more nervous about traveling than were citizens of other developed nations, but reports had been clear that while the US was