TARP TRASHING: The business travel sector is being attacked under the guise of taxpayer protection through the federal Trouble Asset Relief Protection Program, GCLA members were warned Tuesday night.
GCLA first vice president Jonna Sabroff explained how the TARP restrictions on business travel for corporate TARP recipients are by extension chilling and choking off business to hotels, resorts, taxis, shuttles, chauffeured vehicles, airlines, and restaurants -- a sizable 15% of the U.S. economy. The political outrage over a few perk excesses has now frightened off many companies from spending on legitimate, routine, and typical business travel and events.
"Congress is attacking financial services, banks, and the travel sector," Sabroff said. " It's challenging for all of us. We need to push back."
The GCLA and NLA in the past month have cooperated with and joined their voices to a consortium of industry groups led by the U.S. Travel Association to combat the government-fueled tirade against business travel. Many non-TARP companies have been spooked into cancelling conferences, events, and retreats because of fear of media exposure and populist rage.
Sabroff reminded members the next major federal election is only 17 months away. "The people who voted against the American taxpayer need to pay," she said. "We have to hold people accountable for the attack on our industry."
PHOTO: GCLA president Alan Shanedling and GCLA first vice president Jonna Sabroff have led the GCLA in rebutting the anti-business travel climate.
-- Martin Romjue, LCT editor
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