NESTA and H-I Network jointly hosted a seminar on 'Innovating our of a recession' to discuss the results of new research on how the recession is impacting innovation in large organisations.
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Nesta Operating Company, a company limited by guarantee registered in England and Wales with company number 7706036 and charity number 1144091. Registered as a charity in Scotland number SC042833.
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Robin
25 Nov 09, 9:00am (3 yearss ago)
Re: Innovation out of a recession
The recession numbers focus on the out of work, the nearly 10 percent of the workforce who are unemployed. Not counted in the stats of workplace misery are those still “lucky to have a job.” Recessions typically take a hard toll on the recreation industry, and this one may have been the straw that broke the back of Six Flags Parks. Six Flags Parks had been consistently losing money since the early 2000s, and recently filed for Chapter 11 bankruptcy protection. They had a roller coaster of a business history, figuratively speaking, and had experienced a shareholder revolt in 2005, and earlier this year, the company was de-listed by the New York Stock Exchange. They had warned stock holders that a bankruptcy filing might be inevitable, and blamed former management for taking on too much debt. It isn't as if Six Flags Parks were going to cure their financial ills with payday loans.