It is really not the time for global leaders to be quibbling over executive compensation and it is ironic that these discussions take place at a time when the industry requires the best talent money cannot buy. In its March 16th edition, Fortune says that “the storm is entering an entirely new phase that’s potentially more dangerous: a historic meltdown in the bread and butter business of credit card, home equity and mortgage lending”. America’s big four — Bank of America, Citigroup, JP Morgan Chase and Wells Fargo — hold US3.6 trillion in these debts and predictions are that they will write off nine percent of their loan portfolios at a rate of US100 billion a year (Will the Banks Survive, Shawn Tully, Fortune, March 16, 2009).
These are difficult waters which will require the best talent at the wheel.
Click the link above and read the full column.
Thursday, April 23, 2009
Thursday, April 16, 2009
What's the value of hosting a Summit of global leaders? Click the link and read more.
Trinidad and Tobago will discover after the Fifth Summit of the Americas that brand building is not cheap. Making a name stand out in the minds of people takes a lot of effort and a whole lot of cash. Citigroup is now maligned for its US$400 million investment to rename the Mets’ New York home Citi Field. Shea Stadium is no more and not everyone is opposed to the idea. Daniel Gross, writing in Slate Magazine (Three Strikes and You’re Bailed Out, www.slate.com) says there’s a reasonable case to be made for preserving the Citigroup spending, especially since marketing and advertising are essential for companies in highly competitive consumer markets.
The difficulty of course is that spending US$300 million over 20 or 30 years is far different from spending TT$500 or TT$600 million on a three day event, with the hope that the investment will keep tourists coming in the future. Many observers and experts believe it will take much more to build the Trinidad and Tobago name or place brand as a major contender- even regionally- in the business of tourism, conventions, conferences and events.
Click the link above and read more........
The difficulty of course is that spending US$300 million over 20 or 30 years is far different from spending TT$500 or TT$600 million on a three day event, with the hope that the investment will keep tourists coming in the future. Many observers and experts believe it will take much more to build the Trinidad and Tobago name or place brand as a major contender- even regionally- in the business of tourism, conventions, conferences and events.
Click the link above and read more........
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