Meeting News - October 6, 2008 - (Page 24)

Cover Story Wall Street continued from cover jobs or were worried about their future.“Many of the planners who have lost their jobs are a bit like deer [caught] in the headlights,” she said. “They don’t have their resumes or networks up to snuff.” Meanwhile, planners up and down the East Coast said they were already seeing a ripple effect. “We’re very, very nervous about the Wall Street events,” said a Washington, DC-based planner who organizes educational and scientific conferences for pharmaceutical firms. No meetings had been canceled, reported the planner—who spoke under the condition of anonymity—but clients were putting the brakes on travel expenses. “Speakers from Amgen, Pfizer, and other firms have been calling to say they can’t speak at our conferences now unless we cover all their expenses,” the planner said. “We even had a vice president at Merck tell us he couldn’t speak unless we paid for everything, from the moment he left his house until he arrived at our door.” Bill Decker, president and COO of the Hub, a series of off-site corporate meetings facilities in Philadelphia, said the Fortune 500 firms that used his spaces were holding fewer meetings, yet, interestingly, spending more per meeting. “It’s taking about 10 to 15 percent more time to get these meetings approved because they need AD INDEX Advertiser Page Advertiser Page Chicago CVB . . . . . . . . . . . . . . . .19 www.choosechicago.com Colonial Williamsburg . . . . . . . . . .24 www.ColonialWilliamsburgMeetings.com Concorde Hotels & Resorts . . . . . . .6 www.concorde-hotels.com Famous Dave’s Catering . . . . . . . . .9 www.famousdaves.com Guadalajara CVB . . . . . . . . . . . . .21 www.guadalajaramidestino.com Harrah’s Harveys Lake Tahoe . . . . . .3 www.harrahstahoemeetings.com Hilton Los Angeles/Universal City . .23 www.hiltonuniversal.com Hyatt Meetings Take Two . . . . . . . .11 www.taketwo.hyatt.com Lake Tahoe Travel and Tourism . . .IFC www.bluelaketahoe.com Long Beach CVB . . . . . . . .4A (insert) www.visitlongbeach.com Madrid Convention Bureau . . . . . .13 Info.mcb@esmadrid.com Pearl Stable . . . . . . . . . . . . . . . . .20 www.pearlstable.com Prince Albert II of Monaco Foundation . . . . . . . . . . .17 www.PA2F.org www.visitmonaco.com Renaissance Resort at World Golf Village . . . . . . . . . . . . . .8 www.worldgolfrenaissance.com San Antonio CVB . . . . . . . . . . . . .BC www.visitsanantonio.com Walt Disney World Parks and Resorts . . . . . . . . . . . . . .7 www.disneymeetings.com/mn signoff from multiple levels of senior management, so companies try to do more with fewer meetings,” Decker explained.“Often, they’re combining two meetings in one, so they have more attendees or meet for an extra day. Or, they might serve a hot lunch since they’re not spending those resources on a second meeting.” Michael Toole, event technology manager at the Boston Marriott Newton Hotel in Newton, MA, said many venues in the Boston area had been seeing fewer event sales and bookings due to the burgeoning economic crisis of the past year. “I expect this to deepen with the Wall Street fallout, but I’m not overly concerned,” he added. “Ultimately, meetings and events still need to happen, and we’re in a marketplace elastic enough to bounce back quickly.” He noted that it took only a year for his previous workplace, the Boston Marriott Copley Place, to recover from the post-9/11 downturn. “Our current problem may take longer to work itself out, but in the end it’s solvable.” Others were less optimistic. “I fear more bad news is to come,” said the Washington, DC-based pharmaceutical planner, noting that his clients begin their 2009 budget planning in October—just on the heels of the fiscal meltdown. “It’s like taking a cue ball and smacking it around the pool table,” he said. “It’s bound to hit something.” r Exclusive Research continued from page 15 The Index to Advertisers is published for the convenience of our readers. Every effort is made to list advertisers’ names, web addresses and page numbers correctly. The publisher is not liable for errors or omissions. many also see positives. Brooks noted that innovative suppliers will create cleaner, clearer contracts that benefit planners.“Current contracting practices will be outdated,” he said. “We are not at a place technologically where virtual meetings have the same impact as in-person time spent,” said Sarah Brand, director of events company Quinella Ltd. in Ispwich, England. “There will always be meetings.” “It makes us work harder, makes us leaner,” said Priger.“The downturn won’t last forever.” r Contact William Ng at william.ng@nielsen.com Preview the entirely new Williamsburg Lodge at 24 MeetingNews October 6, 2008 www.meetingnews.com http://www.choosechicago.com http://www.pearlstable.com http://www.choosechicago.com http://www.pearlstable.com http://www.ColonialWilliamsburgMeetings.com http://www.ColonialWilliamsburgMeetings.com http://www.PA2F.org http://www.PA2F.org http://www.visitmonaco.com http://www.visitmonaco.com http://www.concorde-hotels.com http://www.concorde-hotels.com http://www.famousdaves.com http://www.famousdaves.com http://www.worldgolfrenaissance.com http://www.worldgolfrenaissance.com http://www.guadalajaramidestino.com http://www.guadalajaramidestino.com http://www.visitsanantonio.com http://www.visitsanantonio.com http://www.harrahstahoemeetings.com http://www.harrahstahoemeetings.com http://www.disneymeetings.com/mn http://www.disneymeetings.com/mn http://www.hiltonuniversal.com http://www.hiltonuniversal.com http://www.taketwo.hyatt.com http://www.taketwo.hyatt.com http://www.bluelaketahoe.com http://www.bluelaketahoe.com http://www.visitlongbeach.com http://www.visitlongbeach.com http://www.colonialwilliamsburgmeetings.com http://www.meetingnews.com http://www.meetingnews.com

Table of Contents for the Digital Edition of Meeting News - October 6, 2008

Meeting News - October 6, 2008
Contents
What’s Up @ MeetingNews.com
People Making News
Green Beat
Ad Index
Live from the Forum

Meeting News - October 6, 2008

http://www.nxtbook.com/nxtbooks/nielsen/mn_20100412
http://www.nxtbook.com/nxtbooks/nielsen/mn_20100301
http://www.nxtbook.com/nxtbooks/nielsen/mn_20100215
http://www.nxtbook.com/nxtbooks/nielsen/mn_20100125
http://www.nxtbook.com/nxtbooks/nielsen/mn_20091221
http://www.nxtbook.com/nxtbooks/nielsen/mn_20091116
http://www.nxtbook.com/nxtbooks/nielsen/mn_20091019
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090921
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090810
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090727
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090622
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090525
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090420
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090323
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090216
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090309
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090202
http://www.nxtbook.com/nxtbooks/nielsen/mn_20090105
http://www.nxtbook.com/nxtbooks/nielsen/mn_20081215
http://www.nxtbook.com/nxtbooks/nielsen/mn_20081110v2
http://www.nxtbook.com/nxtbooks/nielsen/mn_20081110
http://www.nxtbook.com/nxtbooks/nielsen/mn_20081020
http://www.nxtbook.com/nxtbooks/nielsen/mn_20081006
http://www.nxtbook.com/nxtbooks/nielsen/mn_20080922
http://www.nxtbook.com/nxtbooks/nielsen/mn_20080908
http://www.nxtbook.com/nxtbooks/nielsen/mn_20080811
http://www.nxtbook.com/nxtbooks/nielsen/mn072108
http://www.nxtbook.com/nxtbooks/nielsen/mn070708
http://www.nxtbook.com/nxtbooks/nielsen/mn061608
http://www.nxtbook.com/nxtbooks/nielsen/mn051908
http://www.nxtbook.com/nxtbooks/nielsen/mn050508
http://www.nxtbook.com/nxtbooks/nielsen/mn042108
http://www.nxtbook.com/nxtbooks/nielsen/mn040708
http://www.nxtbook.com/nxtbooks/nielsen/mn032408
http://www.nxtbook.com/nxtbooks/nielsen/mn031008
http://www.nxtbook.com/nxtbooks/nielsen/mn022508
http://www.nxtbook.com/nxtbooks/nielsen/mn021108
http://www.nxtbook.com/nxtbooks/nielsen/mn012808
http://www.nxtbook.com/nxtbooks/nielsen/mn010708
http://www.nxtbook.com/nxtbooks/nielsen/mn121707
http://www.nxtbook.com/nxtbooks/nielsen/mn120307
http://www.nxtbook.com/nxtbooks/nielsen/mn111907
http://www.nxtbookMEDIA.com