Book Recommendations From Business Leaders and Cultural Influencers
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Book Recommendations From Business Leaders and Cultural Influencers

By Fang Block
Tue, Dec 15, 2020 4:41amGrey Clock 2 min

Jenny Johnson

President and CEO, Franklin Templeton

A Woman of No Importance: The Untold Story of the American Spy Who Helped Win World War II, by Sonia Purnell

“This is a remarkable story of an American woman who served as a secret undercover agent in France during World War II—first as a spy for the British Intelligence agency SOE, because the U.S. state department refused to let her join, and then later for the U.S. She had unbelievable success in mobilizing the French resistance—fortunately, unconscious bias worked in her favor, as the Germans could not imagine that a woman with a disability could be so effective at undercover work—including bold prison breaks! Despite her success, the SOE refused to promote her, until finally it became abundantly clear that she was far more effective than her

superiors, and she was appointed to a leadership position.”

Greg Norman

World Golf Hall of Famer, Chairman and CEO, Greg Norman Co. 

Rise and Kill First: The Secret History of Israel’s Targeted Assassinations, by Ronen Bergman

“The book was recommended by a few of my friends. I recently went on a trip to Israel and was fascinated by how such a small nation has had such a difficult history. This book really showcased how hard Israel has fought and continues to do so for its sovereign rights.”

David Hunt

President and CEO, PGIM 

The Third Pillar: How Markets and the State Leave the Community Behind, by Raghuram Rajan

“While the globalization of capitalism has been responsible for lifting millions of people out of poverty, in an age of rising inequality, many are rightfully questioning the system as a whole. Rajan’s The Third Pillar offers an

excellent framework to understand the problems associated with market-based economic systems and help us think about solutions.”

Dana Canedy

Senior Vice President and Publisher, Simon & Schuster

White Ivy, by Susie Yang

“I absolutely love fiction with characters that are so richly realized and that defy stereotypes and show us new ways to see cultures and the people who make them so complex and vibrant. Yang does not disappoint, with this brilliant work of literature that offers a unique view of the immigrant experience and left me thinking about class and character in unexpected ways.”

Cristina Mariani-May

CEO, Banfi Vintners

Can’t Hurt Me: Master Your Mind and Defy the Odds, by David Goggins  

“I was inspired by Goggins ’ perseverance and drive. As a working mom who recently reorganized her business after 100 years of being family owned and operated and who worked to reposition it for today and the next generation, I really loved the role model I found in Goggins. I am also an ultra-marathon runner, and David tells amazingly detailed stories of long-distance trail runs. If you want to feel empowered, read this book!” 



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Capri Coffer socks away $600 a month to help fund her travels. The Atlanta health-insurance account executive and her husband couldn’t justify a family vacation to the Dominican Republic this summer, though, given what she calls “astronomical” plane ticket prices of $800 each.

The price was too high for younger family members, even with Coffer defraying some of the costs.

Instead, the family of six will pile into a rented minivan come August and drive to Hilton Head Island, S.C., where Coffer booked a beach house for $650 a night. Her budget excluding food for the two-night trip is about $1,600, compared with the $6,000 price she was quoted for a three-night trip to Punta Cana.

“That way, everyone can still be together and we can still have that family time,” she says.

With hotel prices and airfares stubbornly high as the 2023 travel rush continues—and overall inflation squeezing household budgets—this summer is shaping up as the season of travel trade-offs for many of us.

Average daily hotel rates in the top 25 U.S. markets topped $180 year-to-date through April, increasing 9.9% from a year ago and 15.6% from 2019, according to hospitality-data firm STR.

Online travel sites report more steep increases for summer ticket prices, with Kayak pegging the increase at 35% based on traveler searches. (Perhaps there is no more solid evidence of higher ticket prices than airline executives’ repeated gushing about strong demand, which gives them pricing power.)

The high prices and economic concerns don’t mean we’ll all be bunking in hostels and flying Spirit Airlines with no luggage. Travellers who aren’t going all-out are compromising in a variety of ways to keep the summer vacation tradition alive, travel agents and analysts say.

“They’re still out there and traveling despite some pretty real economic headwinds,” says Mike Daher, Deloitte’s U.S. transportation, hospitality and services leader. “They’re just being more creative in how they spend their limited dollars.”

For some, that means a cheaper hotel. Hotels.com says global search interest in three-star hotels is up more than 20% globally. Booking app HotelTonight says nearly one in three bookings in the first quarter were for “basic” hotels, compared with 27% in the same period in 2019.

For other travellers, the trade-offs include a shorter trip, a different destination, passing on premium seat upgrades on full-service airlines or switching to no-frills airlines. Budget-airline executives have said on earnings calls that they see evidence of travellers trading down.

Deloitte’s 2023 summer travel survey, released Tuesday, found that average spending on “marquee” trips this year is expected to decline to $2,930 from $3,320 a year ago. Tighter budgets are a factor, he says.

Too much demand

Wendy Marley is no economics teacher, but says she’s spent a lot of time this year refreshing clients on the basics of supply and demand.

The AAA travel adviser, who works in the Boston area, says the lesson comes up every time a traveler with a set budget requests help planning a dreamy summer vacation in Europe.

“They’re just having complete sticker shock,” she says.

Marley has become a pro at Plan B destinations for this summer.

For one client celebrating a 25th wedding anniversary with a budget of $10,000 to $12,000 for a five-star June trip, she switched their attention from the pricey French Riviera or Amalfi Coast to a luxury resort on the Caribbean island of St. Barts.

To Yellowstone fans dismayed at ticket prices into Jackson, Wyo., and three-star lodges going for six-star prices, she recommends other national parks within driving distance of Massachusetts, including Acadia National Park in Maine.

For clients who love the all-inclusive nature of cruising but don’t want to shell out for plane tickets to Florida, she’s been booking cruises out of New York and New Jersey.

Not all of Marley’s clients are tweaking their plans this summer.

Michael McParland, a 78-year-old consultant in Needham, Mass., and his wife are treating their family to a luxury three-week Ireland getaway. They are flying business class on Aer Lingus and touring with Adventures by Disney. They initially booked the trip for 2020, so nothing was going to stand in the way this year.

McParland is most excited to take his teen grandsons up the mountain in Northern Ireland where his father tended sheep.

“We decided a number of years ago to give our grandsons memories,” he says. “Money is money. They don’t remember you for that.”

Fare first, then destination

Chima Enwere, a 28-year old piano teacher in Fayetteville, N.C., is also headed to the U.K., but not by design.

Enwere, who fell in love with Europe on trips the past few years, let airline ticket prices dictate his destination this summer to save money.

He was having a hard time finding reasonable flights out of Raleigh-Durham, N.C., so he asked for ideas in a Facebook travel group. One traveler found a round-trip flight on Delta to Scotland for $900 in late July with reasonable connections.

He was budgeting $1,500 for the entire trip—he stays in hostels to save money—but says he will have to spend more given the pricier-than-expected plane ticket.

“I saw that it was less than four digits and I just immediately booked it without even asking questions,” he says.

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