by John Temple Ligon

You mean this Hilton is not a Hilton?

Hilton Hotels Corporation of Beverly Hills is working on an acquisition of Hilton Group PLC of London and its 400 hotels. The American domestic Hiltons split apart from the international operations of the same name more than 40 years ago. The London Hilton on Park Lane overlooking Hyde Park, for instance, has nothing to do with the New York Hilton behind Rockefeller Center. The acquisition should erase the brand confusion. Speaking of confusion, when Elizabeth Taylor married young Mr. Hilton – more than 40 years ago when Hilton was the same firm worldwide – she ignored the family firm in favor of staying at the Savoy Hotel on the Thames.

What a difference a decade makes

Spanish stocks (Madrid SE) are up 240% for the past 10 years. Austrian stocks (ATX) are up more than 200%. US stocks (DJIA) gained 125% for the same time. Japanese stocks (Nikkei 225) fell by more than 30% for the decade.

Big banks and local market share

In the Midlands the leading bank in market share is Wachovia at 24%. Next is Bank of America with 23%. Wachovia deposits here come to just under $2.5 billion and Bank of America, a little more than $2.3 billion.

Bond is back

The 30–year US Treasury bond was discontinued in October 2001. Next year the government resumes sales, locking in low interest rates for the long haul.

In Pittsburgh US Airways dropped

its hub and half its flights

And Pittsburgh prospered. Five discount airlines showed up, and the price for a Pittsburgh–Philadelphia round–trip ticket fell from $680 to $186. What can Columbia learn from this? Charlotte is rated among the priciest three hubs in the country.

Budget and Control tries to grab Bull Street

The SC Department of Mental Health should collect all the proceeds from the sale of its property on Bull Street, according to SC Attorney General Henry McMaster – every dime. The State Budget and Control Board thinks McMaster is wrong. Based on his perfect record in court so far in his term, McMaster is probably right.

General Electric, Esquire

Among the 10 firms that paid the most to Wall Street investment banks in the past year, General Electric tops the list at $358 million. Next is General Motors at $199 million. General Electric on its own has an incredible in–house law group, 1,100 lawyers. That many lawyers in one firm would be the 13th largest in the country. The largest is Baker & McKenzie with 3,194 lawyers.

Charleston’s Krawcheck ranked

among the world’s top businesswomen

Sallie Krawcheck (40) of Charleston is Citigroup’s chief financial officer and the Wall Street Journal ’s pick for its #8 slot in the “In Line to Lead” list of corporate women in Monday’s (Halloween’s) edition. Beyond bean counting, Krawcheck is also responsible for Citigroup’s business development and planning, as well as trading operations to include research and brokerage. Back in the Dark Ages, the 60s, the best men’s shop on King Street was Jack Krawcheck, presumably connected.

Mobil ranks US hotels and restaurants

Mobil’s highest ranking, the five–star property, fits with just 32 hotels and 15 restaurants in the US. New York City has three five–star hotels: Four Seasons, St. Regis, and Ritz–Carlton on Central Park. New York City also has four five–star restaurants: Alain Ducasse, Jean George’s, Masa, and per se. Georgia has two five–star hotels: Atlanta’s Four Seasons and the Lodge at Sea Island Golf Club. In Atlanta, the two restaurants for all of Georgia with the five stars are Seeger’s and The Dining Room at the Buckhead Ritz–Carlton. In SC, we have one five–star hotel: Summerville’s Woodlands Inn. Why does this matter? Money, hedonism, means of escape, and gross pretentiousness, all which come together under one word: fun.

Why the Mobil ranking matters, Part II

The Michelin Red Guide on New York City is expected to go on sale this week. Michelin’s rankings run from one star (rosette, actually) to three stars. The three–star designation is tougher to get than Mobil’s five–star ranking. Michelin’s French origins probably won’t allow New York City any more than two three–star restaurants, and the money is on per se and Masa. Paris has 10 Michelin three–star restaurants. Spain has four Michelin three–star restaurants, and the one with the third star for the longest term, Arzak in San Sebastian, was Spain’s only three–star as recent as 1998. In July of last summer, The Columbia Star ’s business editor and his traveling companion had Friday dinner at Arzak following Thursday’s running with the bulls in Pamplona. Review to follow.