Recession trends latest
Interesting day in London on Thursday, here's a couple of snippets…
• We're likely to see an increase in sponsorship related litigation as corporates try to wriggle out of sponsorship deals for social events & sporting activities signed up for last year when times were good but now looking pretty expensive and/or politically incorrect to have management out on a jolly while staff are being made redundant.
• Also, senior manager of a large Swiss banking operation reckons the worst is yet to come in the recession, with no green shoots likely until Q3 2010 and that it will take a full 5 years before we return to the levels of business experience in 2006/7/8. Apparently this recession is unusual because systemic issues (wonky banking system) have coincided with a global trade downturn. UK unemployment figures expected to hit 2.5 million.
Enjoy the long weekend.