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<p class=MsoNormal><font size=2 color=black face=Verdana><span
style='font-size:10.0pt;font-family:Verdana;color:black'>Madame Secretary:<o:p></o:p></span></font></p>
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style='font-size:10.0pt;font-family:Verdana;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=black face=Verdana><span
style='font-size:10.0pt;font-family:Verdana;color:black'>I request that you
deduct two points from Mr. Katz’s point total because he used the phrase “point
of unitary elasticity” <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=black face=Verdana><span
style='font-size:10.0pt;font-family:Verdana;color:black'>in an e-mail to this
list.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=black face=Verdana><span
style='font-size:10.0pt;font-family:Verdana;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><font size=2 color=black face=Verdana><span
style='font-size:10.0pt;font-family:Verdana;color:black'>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.<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=black face=Verdana><span
style='font-size:10.0pt;font-family:Verdana;color:black'><br>
Scott Lieberman<o:p></o:p></span></font></p>
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<p class=MsoNormal><b><font size=2 face=Tahoma><span style='font-size:10.0pt;
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<p class=MsoNormal><b><font size=2 face=Tahoma><span style='font-size:10.0pt;
font-family:Tahoma;font-weight:bold'>From:</span></font></b><font size=2
face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma'> Lnc-business
[mailto:lnc-business-bounces@hq.lp.org] <b><span style='font-weight:bold'>On
Behalf Of </span></b>Joshua Katz<br>
<b><span style='font-weight:bold'>Sent:</span></b> Friday, August 01, 2014
12:34 PM<br>
<b><span style='font-weight:bold'>To:</span></b> lnc-business@hq.lp.org<br>
<b><span style='font-weight:bold'>Subject:</span></b> Re: [Lnc-business]
Informal Poll LNC December Meeting</span></font><o:p></o:p></p>
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<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>I take no position on whether we use a contractor or not. I also,
as a side note, would love to see <st1:City w:st="on"><st1:place w:st="on">New
Orleans</st1:place></st1:City> - it's been on my list for quite some time.
When I moved to <st1:State w:st="on">Texas</st1:State>, I in fact got off
at <st1:City w:st="on"><st1:place w:st="on">New Orleans</st1:place></st1:City>
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:<o:p></o:p></span></font></p>
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<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>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.<o:p></o:p></span></font></p>
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<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>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.<o:p></o:p></span></font></p>
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<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'><o:p> </o:p></span></font></p>
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<p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size:
12.0pt'>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.
<o:p></o:p></span></font></p>
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<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'> </span></font>Joshua A. Katz <font
color=black><span style='color:black'><o:p></o:p></span></font></p>
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