Jan 27, 2009

To Davos or not?

Posted by: Marian Salzman In: Davos| World Economic Forum| reboot

While BusinessWeek reports record attendance at Davos this year, some heads of state and business have their hands full at home—or are they staying away for the sake of image? Timothy Geithner had to be in Washington to face confirmation hearings Monday. California Governor Arnold Schwarzenegger is at home dealing with his state’s financial shortfall, and the heads of Citigroup and Barclays also won’t be traveling to Switzerland. “Banking officials have to be concerned with appearances more than ever,” Howard Rubenstein, president of Rubenstein Associates, told CNN. “They should avoid anything that appears super fancy or super rich, or thumbing their noses at taxpayers during a time of austerity.” Is that the case here, though? Or is the World Economic Forum exactly where these decision makers need to be right now, joining the key players in the Reboot?

For more food for thought:

http://www.businessweek.com/globalbiz/content/jan2009/gb20090123_389938.htm
http://money.cnn.com/2009/01/25/news/economy/davos.reut/index.htm
http://news.bbc.co.uk/2/hi/business/davos/7854389.stm
http://blogs.forbes.com/trailwatch/2009/01/schwarzenegger-paterson-two-deficits-two-different-decisions.html

 
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