X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CABO SAN LUCAS, MEXICO-Normally, high-achieving executives from CB Richard Ellis would be preparing to live up the high-life here for their annual Recognition Conference, an award perk that set up free airfare, a stay at the Hilton Los Cabos Beach and Golf Resort, food and beverages and even spa packages. Faced with the massive troubles that all companies went through in 2008, however, the company decided it that instead of taking, it would be better to give back. It has canceled the conference, and will donate 225 vacation packages to charities, including 100 of the trips to veterans from the Jacksonville-based Wounded Warrior Project.

“This is not about our company trying to save money,” Chris Ludeman, CBRE’s president of Americas brokerage, tells GlobeSt.com. “The vast majority of the expense, about 90%, has already been spent. You have to book this stuff far in advance, the only thing not bought is the airfare. A number of our top-producing professionals expressed concern that in light of the economic circumstances, and the general, pain-causing climate, they didn’t feel good enjoying several days in an exotic location while people in their communities are suffering.”

Each of the packages consist of a three-night stay at the hotel. The total cost for all the packages is “more than seven figures,” Ludeman says.

The Wounded Warrior project, a non-profit organization to honor and empower severely injured servicemen and women, was a natural fit to donate to, he says. “We’ve sent an announcement out to the company asking employees to suggest other charity organizations, and we’ve formed a committee to deal with the remaining requests. We’ll work through the applications and make a decision by the early part of February for the balance of the packages,” Ludeman says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.