Incentive - July 2009 - (Page 6)

HEADLINES The True Face of Motivation PAGE 16 Most incentive recipients are frontline workers, not pampered executives A Summit in Orlando PAGE 23 Seven top hospitality and events industry execs discuss the future of incentive travel Final TARP Travel Regulations Announced Treasury Department’s corporate travel regulations for bailout recipients will go into effect in mid-August BY LEO JAKOBSON he U.S. Treasury Department has published new rules in the Federal Register that govern some meeting, event, incentive, and travel expenses for companies that received Troubled Asset Relief Program funds. The new guidelines, which have a 60-day comment period before finalization, focus on executive compensation and corporate governance and would require TARP recipients “to eliminate excessive and luxury expenditures” as defined by the Treasury Secretary. Those could include “entertainment or events, office and facility renovations, aviation or other transportation services, and other similar items, activities, or events,” the rules state. In other news, the Travel Promotion Act of 2009, which is approaching a vote in the Senate, was introduced in the House of Representatives late T last month. At the same time, the non-partisan Congressional Budget Office released a highly favorable report on the proposed legislation’s financial impact to the U.S. economy. As for TARP-receiving companies, the Treasury Department’s new guidelines will require them to identify “excessive and luxury” expenses, establish policies, set approval processes, conduct “prompt internal reporting of violations,” and “mandate accountability for adherence” to such policies. Having feared far worse, some industry organizations, including the U.S. Travel Association and the National Business Travel Association (NBTA), applauded the new guidelines. U.S. Travel President and CEO Roger Dow said, “We are pleased that after months of discussions with the Obama administration and our Roger Dow, chief executive of the U.S. Travel Association, urges the passage of the Travel Promotion Act by Congress “We do not expect these rules to change in any material way.” The NBTA says that through the rules, the Treasury Department is “recognizing the value of an effective corporate travel and meetings policy.” NBTA President Kevin Maguire last week said in a statement, “Corporate travel is vital to the success and growth of businesses, local economies, and millions of American jobs. NBTA is pleased that Treasury has pointed to travel management as a tool to contain costs and ensure efficient and effective corporate travel and practices.” Travel Promotion Act Gains Momentum The Travel Promotion Act of 2009 seeks to create the Corporation for Travel Promotion, a public-private partnership with an annual budget of up to $200 million that would be dedicated to marketing and attracting industry’s full-court press on the value of meetings, events, and incentives, these regulations do not do any further harm to the meetings and events marketplace.” Though the rules would not become final until the conclusion of the public comment period on Aug. 14, Dow added, 6| Incentive | July 2009 | incentivemag.com http://www.incentivemag.com

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

Incentive - July 2009
Contents
Editor’s Note: Motivation 2.0
Headlines
Cover Story: Four Industry Veterans Put the State of Motivation into Perspective
The True Face of Incentives
Orlando Summit: Road Warriors
Strategies: Survive and Thrive
Primer: Online Systems
Travel News: Where To Go
Reno/Tahoe Rebirth; Atlantic City Aces
Scotland’s Other City
Hong Kong Calling
Potentials: Here and Now
Watches & Clocks: Old Is New Again
Writing Instruments: The Write Award
Golf Meetings
Planning a Golf Meeting, 101
Formats, Games, Prizes, and the Awards Ceremony
The How, What, Why, and Win of Hole-in-one Insurance
How the PGA Professional Can Help Your Meeting Plans
A Woman's View of Golf
Opinion: The (New) Perception of Golf Resorts
In Closing: Boondoggle is Not Part of the Golf Vocabulary

Incentive - July 2009