Retaining Core Business with a Meeting is a Top Priority no Matter who you are

While it would be hard to paint GM as a model of fiscal stability, it doesn’t mean the automaker should blow off a core business constituency. That’s why companies must not sacrifice important business meetings regardless of the prevailing political and economic climate. Even if the meeting is being held at a resort in Tucson, Arizona. Those who are quick to criticize large corporate meetings need to consider the following:

· In the case of GM, the top 500 fleet customers at their recent meeting account for 27.6% of the company’s total sales
· Large meetings are often booked well in advance and are very expensive to cancel
· The US Treasury has gone on record that it will not interfere with the day-to-day operations of companies receiving assistance
· Many outside functions at meetings such as golf outings at the GM meeting have become the financial responsibility of attendees in '09
· The meeting agendas have become far more business-focused - in the case of GM, they were "packed with informational sessions on GM’s 2010 product line”
· Resorts like the Wild Pass who host large meetings employ up to 1,500 people who are not CEOs. They are hard-working individuals, many of whom with families.

Finally, the meeting budgets represent a mini-fraction of what is spent on new product rollouts – especially GM’s development of the golf-cart-like Segway. It is far more difficult to imagine a Segway owner blissfully cruising down 5th Avenue with a cabbie tailgating close behind than it is any company forfeiting 27.6% of its business over fear of criticism.

President Obama Isn't Brokering World Peace on SKYPE

Whether the goals are saving money or avoiding scrutiny, there is much talk of conducting virtual meetings as an alternative to destination meetings. While technology has greatly helped individuals, organizations and companies stay in touch faster, it still does not and most likely never will replace the value of doing business in a face-to-face setting.

Everyone in the meetings industry is well aware of the criticism launched by Members of Congress over companies who choose attractive destinations for important meetings, team-building and incentive travel. But the last time we checked, they weren't receiving testimony on TARP over email and often, Congressional hearings go on the road into specific Member's districts to get the face-to-face expertise of Americans.

And just today, President Obama will be meeting at the White House with the leaders of Pakistan and Afghanistan in an effort to stabilize both governments, prevent more terrorist attacks, and in the case of Pakistan, safeguard its nuclear weapons. Important meetings like this aren't taking place in the virtual world and while it's true that President Obama loves his Blackberry, were guessing he won't be handing each world leader one as a primary tool for future contact.

We see the future of virtual meetings as a complimentary component to face-to-face business. More destination meetings here in New York have become more content-driven than ever and the resulting value of these personal interactions is then leading to even more frequent communication over the Internet. But business cannot have one without the other.