Answer 1
Consumer confidence surveys are used to predict near-term spending intentions and also are used to gauge where the overall economy may be heading. However, such surveys have proven to be highly fallible as a forecasting tool. The reason appears to reflect the answers given at the moment of the interview, which depend on the current mood of the respondents, which in turn, rely heavily on current events and are highly changeable. Good news one day can be neutralized by bad news the next and, depending on when a respondent is queried, the answers to the questions may be far different. Hence, the predicted spending pattern suggested by the interview responses may not materialize.
Answer 2
The first great American hotelier was Conrad Hilton, who bought his first hotel in Texas in 1919. E.M. Statler was another early hotelier whose chain was eventually bought out by Hilton in 1954.
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