Be Very Careful with Fed Bailout Corp Customers

Posted on February 10, 2009 by LCT Magazine

MEETINGS & EVENTS: Major travel industry associations are adopting policies for managing meetings and business trips for corporations that have received emergency government lending. This means that for the $700 billion federal bailout and other funding programs that have happened in recent months, travel service suppliers need to be very careful about honest, clear service delivery. Associations such as Meeting Professionals International, National Business Travel Association, and U.S. Travel Association have joined forces with other organizations representing meetings, events, and incentive travel. The plan was "designed to ensure transparency and accountability and protect the one million American jobs supported by corporate meetings and events." Click here to read the press release.

This decision reminds me of the Sarbanes-Oxley Act passed by Congress in 2002. That legislative act passed following the Enron scandal and other sad stories. Corporate executives needed to look honest and legal, and started making changes to their travel practices, including cutting rides in stretch limousines. Town Cars and SUVs were okay, and now minibuses and motorcoaches are favored, too. So, if you've got any of these major banks, financial institutions, Big 3 automakers, or other coporations that have received federal funds, as clients, think about adopting the travel community guidelines for corporate meetings and events.  -- J.L. 

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