Incentive - April 2009 - (Page 14)

Defending In March, shortly after Sen. John Kerry (D-Mass.) introduced legislation that would effectively ban companies that have taken federal bailout funds from running incentive travel programs, Incentive brought together leaders of several industry organizations on a conference call to discuss what is being done to combat the growing attacks on the incentive business, and what other steps must be taken. Sen. Kerry’s legislation, the TARP Taxpayer Protection and Corporate Responsibility Act, was announced shortly after outrage broke over an incentive program run by Northern Trust Corporation for employees and clients in conjunction with its sponsorship of the PGA’s Northern Trust Open, held Feb. 16-22 at the Riviera Country Club in Pacific Palisades, Calif. Northern Trust has taken $1.5 billion from the federal Troubled Assets Relief Program (TARP). The proposed legislation would forbid any recipient of TARP funds from hosting, sponsoring or paying for conferences and events, or for holiday or entertainment Incentives Leaders of incentive industry associations discuss the feeding frenzy incentive travel critics are engaged in Moderated by Leo Jakobson events, for the year in which they receive TARP funds without a waiver from the secretary of the treasury. It would also subject CEOs of companies that violate the regulations to six-figure fines. While that bill has not passed, the Treasury is planning to create guidelines for TARP recipients about what kind of spending on areas like business travel is and is not acceptable. What follows are excerpts from that conversation. For the full transcript or audio clips, visit www.incentivemag.com/ defendingincentives. RO U N D TA B L E PA RT I C I PA N T S Brenda Anderson, CEO, Site (formerly the Society of Incentive & Travel Executives) Jeff Broudy, Executive Vice President and COO United Incentives and Secretary/Treasurer, Incentive Research Federation (IRF) Joe Gabler, President, Gabler Sales and President, Incentive Manufacturers and Representatives Alliance (IMRA) Karen Renk, Executive Director, Incentive Marketing Association (IMA) Patrick Sullivan, President, PRA Destination Management – NY and President, Site 14 | Incentive | April 2009 | incentivemag.com http://www.incentivemag.com/defendingincentives http://www.incentivemag.com/defendingincentives http://www.incentivemag.com

Table of Contents for the Digital Edition of Incentive - April 2009

Incentive - April 2009
Contents
Editor’s Note: Speak Out!
Headlines
Cover Story: Penn Mutual Stands By Its Incentives
Defending Incentives
Primer: Merchandise 101
Employee Contracts Work
Gift Card Roundtable
Incentive Strategies
Endo Pharmaceuticals
Travel News: Where To Go
Caribbean: Idyllic Deals
Cruises: Value Ahoy!
Potentials: Here and Now
Cameras: Smart and Active
Merchandise IQ Survey
Incentive Merchandise Buyer’s Guide

Incentive - April 2009