Is money no object for large corporations?

[43096]

More of a corporate thing I think for companies doing overnight business, when I say companies I mean big blue chip ones where money is no object.

Which companies are those then? It’s an utter myth of big companies being “money no object”, just as the “expense account in first class” now is, too.

 

[Trackman]

Which companies are those then? It’s an utter myth of big companies being “money no object”, just as the “expense account in first class” now is, too.

The likes of IBM and Microsoft as I say big Blue Chip companies.

 

[Nym]

The likes of IBM and Microsoft as I say big Blue Chip companies.

And why would they use an old train linked to political questionability when they can just invoke private jets and/or a fleet of helicopters, cars and luxury coaches that can go anywhere?

Some may be overestimating the ability of luxary train travel to be sold in the UK today.

 

[Iskra]

Which companies are those then? It’s an utter myth of big companies being “money no object”, just as the “expense account in first class” now is, too.

It isn't a myth at all, it goes on all the time. Big consulting, pension, accounting firms, construction companies and football clubs being obvious examples that I've seen splashing the cash recently.

 

[fgwrich]

It isn't a myth at all, it goes on all the time. Big consulting, pension, accounting firms, construction companies and football clubs being obvious examples that I've seen splashing the cash recently.

I can vouch for this having recently been invited to a box at a well known London stadium.

 

[Trackman]

I can vouch for this having recently been invited to a box at a well known London stadium.

My friend has been on a couple of corporate dos. There was a Christmas do at the Royal Albert Hall, in fact I they booked a couple for nights. He told me if was free booze all night and accommodation, and said they had some bands on, he gave me the list and I said 'Tribute band sets?' He said no, they were real, to give you some sort of the quality - Elton John headlined.
On another 'day out' the company hired Alton Towers for the day.. again free booze and food and entertainment.

 

[brad465]

I wonder if the "too big to fail" concept that was coined after the 2008 recession has basically given certain corporations the ability to do all sorts of reckless spending. If a business knows that it will get government bailouts in the event of collapse, then there is a no risk, so all sorts of reckless wild spending can be pursued.

 

[Iskra]

I wonder if the "too big to fail" concept that was coined after the 2008 recession has basically given certain corporations the ability to do all sorts of reckless spending. If a business knows that it will get government bailouts in the event of collapse, then there is a no risk, so all sorts of reckless wild spending can be pursued.

I think some of it is a tax write-off. A company I used to work for spent a 7 figure some on an end of year do, but because there were a couple of work-related presentations involved including from a fairly well-known celebrity, it became a conference instead.

I do also think that many companies have tightened their belts in recent years, and that only a small core of lucrative/high prestige industries are still 'splashing the cash', but it does happen and will continue to do so.

 

[najaB]

I do also think that many companies have tightened their belts in recent years, and that only a small core of lucrative/high prestige industries are still 'splashing the cash', but it does happen and will continue to do so.

That's my experience. My employer isn't a massive corporation but we're big enough to be publicly traded on the NYSE. And there's definitely a lot less money going around this year than there was a couple of years ago.