Smack Talk: Why Is Biz Travel Tanking?

LCT Magazine
Posted on March 3, 2009

BIZ DOES AS PREZ SEZ: Don't just blame the mortgage crisis, financial exotics, and regulatory incompetence for your business woes. . . .

It appears many companies are simply afraid to spend money on business travel, which of course, include the bread-and-butter chauffeured sedan and mini-bus markets. According to Priceline.com, many executives are trying to avoid criticism that they are wasting money. And who is a major source of demonizing corporate-related travel and perks? Why, the Criticizer-In-Chief, of course. Businesspeople traveling to and fro are not the enemies, here. They're simply trying to conduct some commerce. Yet President Hope and his Congressional allies give capitalism a dollop of blame when a dab will do.

From the WSJ: "The powers in Congress -- unrebuked by Mr. Obama -- are ridiculing and punishing the very capitalists who are essential to a sustainable recovery. The result has been a capital strike, and the return of the fear from last year that we could face a far deeper downturn. This is no way to nurture a wounded economy back to health." -- M.R.

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