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Davos

Yesterday, the Financial Times reported that Goldman Sachs cancelled their party at the upcoming World Economic Forum in Davos, Switzerland. Historically one of the hottest events there, Goldman signaled “the new mood of sobriety and self recrimination”. Others are following suit, and, of course, other party-givers–like Lehman Brothers–aren’t around any longer. However, parties aside, more interesting is the fact that overall, attendance at the Forum is up this year, notwithstanding the global meltdown. It appears that the business leaders, policymakers and heads-of-state want to attend these parties to glean clues about the direction on the new order ahead, and will rub elbows–or maybe, more likely, scratch heads–over how to navigate through the current mess and set a course for recovery; this time, without the glitter of the banking parties.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.
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