[Lnc-business] Informal Poll LNC December Meeting

[Scott L.]

Madame Secretary:

 

I request that you deduct two points from Mr. Katz's  point total because he
used the phrase  "point of unitary elasticity" 

in an e-mail to this list.

 

I have a minor in economics, and I still had to look that phrase up on the
Internet to refresh my memory as to what it meant.


   Scott Lieberman

 

  _____  

 

From: Lnc-business [mailto:lnc-business-bounces at hq.lp.org] On Behalf Of
Joshua Katz
Sent: Friday, August 01, 2014 12:34 PM
To: lnc-business at hq.lp.org
Subject: Re: [Lnc-business] Informal Poll LNC December Meeting

 

I take no position on whether we use a contractor or not.  I also, as a side
note, would love to see New Orleans - it's been on my list for quite some
time.  When I moved to Texas, I in fact got off at New Orleans to see the
city, but my schedule didn't permit an overnight stay.  Neither did my
budget, which is the concern I raise today.  The hotel we are considering
for this convention will cost us about $5000 to hold an LNC meeting there.
I am assuming that this is with the knowledge that we are considering them
as a venue for a major convention, hence a really good deal (respective to
the hotel.)  I understand that the average cost of an LNC meeting is in the
neighborhood of $2500.  I am only guess, then, that this will be a quite
expensive convention.  Floor fee or no, the more expensive the venue, the
less we are likely to net profit/greater net loss, unless either:

1.  We have states who have more willing delegates than spots (not too many)
and an expensive venue will keep the poorer delegates away, thus increasing
sales of larger packages.  I would object to this on moral grounds if I
thought it, in fact, were the case, but I don't.

2.  We charge more for packages that are substantially the same.  Of course,
for instance, banquet tickets will cost more at a costlier location (I'd
expect) since food costs will be higher - and of course we don't know where
the point of unitary elasticity is, although I strongly suspect (see 1
above) that this point doesn't move when the convention is held at a fancier
location.

 

Given the cost of this venue for an LNC meeting, I therefore lean towards it
not being a great venue for a convention, and would support having the
meeting at the Hampton Inn instead.  I would add that, while it's a good
idea in any case, we really need to minimize costs for the next couple LNC
meetings since we are, in a sense, bankrupt.  So even if using the Hampton
Inn will increase costs in the future, I think it makes sense at this
particular moment to defer some costs into the future - time preference,
etc.  

 

     Joshua A. Katz 

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