I'd Like to Know How Many Outings John Kerry Has Taken on the Taxpayer Dollar

Lawmaker Hopes to Ban Conferences for Bailed-Out Companies Posted by Jessica L. States on 2/25/2009 MPI 1:54:00 PM Sen. John Kerry (D-Mass.) has announced plans to introduce legislation that would prevent companies that have received bailout funding from hosting, sponsoring or paying for conferences, holiday parties and entertainment events. The bill will affect any companies that have received government help under the Troubled Asset Relief Program (TARP). “I’m sick and tired of picking up the newspaper and reading about another idiotic abuse of taxpayer money while our country is on the brink,” Kerry said. “Americans who play by the rules are losing their jobs and struggling to pay their mortgages. The companies that came to Congress in desperate need of help to stay afloat become their own worst enemies when they pull stunts like this. It’s an embarrassment that this legislation is necessary, but some companies clearly need a reality check to get their priorities straight so taxpayer money is used to get their house in order and not to pay for lavish parties. Congress has zero tolerance for this kind of excess.” Companies may seek waivers under the proposal from the U.S. Secretary of Treasury for events that the recipients believe are directly related to business operations. The secretary would have 30 days to respond. Violations will require company CEOs to reimburse the federal government for the cost of the event and pay a US$100,000 fine.

Hoteliers Speak Out for more biz trips

Hoteliers fear lasting damage from critics of business trips By Matthew Garrahan in Los Angeles Published: February 26 2009 17:52 | Last updated: February 26 2009 17:52 The world’s largest hotel companies have launched a co-ordinated political lobbying effort aimed at toning down criticism of banks and insurance companies that spend money on large meetings or conferences. Senior executives from Marriott, Starwood, Hyatt, Hilton and InterContinental Hotels Group have written to members of the US congress warning them that companies – including those that have not received government assistance – “are cancelling business meetings because they fear being criticised”. Since the start of the financial crisis, US politicians have been quick to criticise groups such as AIG that continued to hold company get-togethers and conferences even after they received taxpayer aid. But in the letter to congress, the leisure companies – which include Walt Disney, Carlson Hotels Worldwide and Wyndham Worldwide – call for a softening of political rhetoric to avoid lasting damage being done to the hospitality industry. Meeting and event cancellations have “serious economic consequences”, they say. They warn that if cancellations continue the US hotel and leisure industry will be hit hard: nearly 200,000 US travel industry-related jobs were lost in 2008 and the companies say that almost 250,000 are forecast to go this year. They urge the politicians to champion the adoption of “prudent guidelines” for companies so that they can continue meeting “instead of legislating rules that may unintentionally hinder economic recovery”. The hotel companies are also running a series of press advertisements urging companies to continue booking meetings. They are fighting a battle on two fronts as they try to weather the slump: the credit crunch has made it difficult for owners to raise the new capital they need to develop new properties while the economic downturn has caused a dip in business travel volumes. “A robust travel industry is a powerful economic stimulus,” the companies say in the letter, which is signed by, among others, Bill Marriott, the chief executive of Marriott, Jay Rasulo, the chairman of Walt Disney Parks and Resorts, and Christopher Nassetta, the chief executive of Hilton Hotels Corporation. Las Vegas casino operators have also been hit by political criticism, which they say has caused bookings to drop off. Barack Obama warned this month that companies receiving government bailout money would not be able to go to Las Vegas “on the taxpayers’ dime”. The warning alarmed hotel operators and casino companies in the city, which has been hit by a steep decline in visitor attendance. “It’s very anti-stimulus, it’s pro-recessionary, pro-unemployment,” Sheldon Adelson, chief executive of Las Vegas Sands, told Bloomberg. Copyright The Financial Times Limited 2009

Traditional Mexico

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