RECREATION IS BUSINESS TOO. STOP THE MEDIA PARANOIA!
This week, I read one of the most absurd articles I have seen in a very long time in The Wall Street Journal. A quarter of a page was devoted to – stop the presses! – $25,000, the amount that CVS spent on golf outings for its top executives. Using that amount of ink on a non-story like this is simply absurd. If this environment continues, many businesses will simply not be able to function.
Every single day, businesses hold conferences and conventions, entertain clients, and even golf with them. In the year 2009 (and for quite a while before that), business isn’t conducted 9 to 5, and relationships are often built in non-traditional ways. What’s the big deal? Twenty-five thousand dollars? How many deals does that close? Two summers in a row, during different economic times, I rented a luxurious house in the Hamptons (at a significantly larger fee than CVS paid for their bigwigs to golf) to entertain clients, allow employees a getaway, etc. It was good for business and garnered many relationships that had a return well beyond the summer rental fee. I would venture that CVS receives ROI from perks.
The media and the government need to stop this craziness. Sponsorships aren’t bad, marketing isn’t bad, and perks aren’t bad. They are necessary in business, and not allowing them will cause the economy to suffer even further.
Ronn Torossian
5WPR
