By now every rock should have been turned over by the media to find anyone who has not heard about the misuse of TARP funds by executives of companies who received the bailout funds…or about the lady who had 8 kids…. either with way..don’t you think enough is enough?
On the serious side of business world, the media’s views and investigative reporting is again painting a picture that is not addressing the root causes of bailout problems. Just because a company is receiving bailout funds should not affect how they go about doing business. Yes, some of these business are guilty of making stupid decisions that cost them trillions of dollars. However that is the executives of these companies, not the companies who made the wrong decision. So why is the media hammering these companies for being part of conferences where these companies make their money?
In the M&C, published by Northstar Travel Media (Travel Weekly’s parent), their survey on meetings and conferences meetings planners show that 21% of them have canceled meetings or conferences as a “direct result of the bailout backlash” . Businesses, not just those accepting Bailout funds, are not wanting to be look at through the media’s reporting as being wasteful of their funds.
Face to Face marketing is the very basic essence of commerce. Technology will never…I repeat..will NEVER, replace the effect meeting someone physically will have to making a business deal. This includes the very effective communications platforms that are being developed for video conferencing that some feel will replace the need to “press the Flesh”.
Conferences, conventions, trade shows, seminars, workshops…the list goes on, are the very basic component of the most effective way to develop business. You cannot do these online. For the media to move in and expose those businesses who accepted bailout funds for going or having a conference does nothing but hurt the companies who have not accepted bail funds or would even be remotely qualified to received bailout funds who attend these functions to generate their revenue.
What is being missed and where the media should set their laser beam investigations, are the CEO’s and other top executives of these companies who receive the bailout funds and their very over-the-top salaries that most of these TARP funds supplied. Of course the very seed of the problems that makes these people feel they deserve these salaries starts way before the person takes the CEO or executive position, but that is what the media should be focuses on and not killing off what is left of the economy by loitering around the marketing place where normal business is done in hopes to catch some misuse of TARP funds.
The most unfortunate part of the canceling of meetings and conferences from the “direct result of the bailout backlash” is that most of these companies canceling had nothing to do with any of the wrong doings that caused the need for a $1 Trillion economic bailout. They just do not want to be associated with it and feel that canceling or not attending would take them out of harms way which results in them losing the business they normal depend on from these meetings and conferences.
If CHANGE is really is the mission our government leaders have said we are on then they need to start whipping the mules in this train that are causing the problem and not beat on the ones who are holding up their end of the deal. We are not going anywhere to improving the economy until those who are causing the problem are taken out of the picture.
That is my two cents worth…now, what is yours?
