Scrapped golden globes cost los angeles business dea

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Business experts predict the cancelled Golden Globe Awards will result in GBP40 million in lost revenue for the Los Angeles economy.

Catering, transport, fashion, retail and tourism industries are all expected to take a massive hit from the decision to scrap the glitzy ceremony on Sunday (13Jan08), in favour of a low-key press conference.

Organisers chose to turn the event into a no-star TV announcement after failing to win a waiver from striking Hollywood writers, who threatened to picket the Golden Globes if they took place.

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Tiscali