TARP Explained

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By Shari Hockenbery, CMP

He did it again! Once again, Platinum Series speaker and hospitality industry attorney Joshua L. Grimes came to Kansas City and conquered the complicated legalese of governmental legislation. At an eye-opening, early morning meeting at the brilliant Conference Center at Town Pavilion, Grimes delivered an interactive and focused dissection of the Troubled Asset Relief Program (TARP), legislation that rocked the meetings industry this year.

Stimulus spending in the current global economic crisis brought conferences, incentive trips and travel under scathing attack as examples of corporate excess. The federal government began legislating spending controls that discouraged meetings, and the resulting confusion and fear gripped the entire industry, culminating with the passage of TARP.

Attorney Grimes wowed KCMPI members before with Get Your SOX On!  And he came back stronger than ever to recommend effective approaches to address stimulus legislation, discuss best strategies for groups to continue meeting, and help hotels and suppliers minimize cancellations and attract business by partnering with customers to comply with new spending guidelines. While it is necessary to be mindful of "perception" in the meetings industry, Grimes assured attendees that conducting business in challenging times is still productive, possible and profitable. Grimes encouraged all organizations, whether they receive stimulus funding or not, to consider TARP legislation as best practices and to remain as transparent as possible.

As always, KCMPI is grateful for the support of its generous sponsors. Many thanks to Sharon Ko and Town Pavilion for the outstanding meeting space, KC J Catering for a delicious hot breakfast buffet, Hotel Phillips for guest room accommodations and Overland Limousine for their service and friendship. We could not offer such valuable programs without the generosity and support of our sponsors.

(Shari is with The Francis Family Foundation. She can be reached at 816-531-0077 or e-mail at Shari@francisfoundation.org).