Clueless Quote of the Day

From a Journal story about how Wall Street is canceling junkets to luxury resorts.

The Morgan Stanley decision comes as so-called incentive conferences meant to reward and motivate employees have dropped off significantly, hotel owners say. “The troubling matter from a hotel owner’s perspective is that populism is demonizing having a meeting at a resort property,” said Jon Bortz, chief executive of LaSalle Hotel Properties, which owns 31 upscale hotels.

Indeed, I am troubled by this turn of events. It could put a damper on awesome trips for reporters, as well.

But seriously, these guys are on the taxpayers’ dime now, and the video-conferencing technology they’ve got these days is really something to see.

And not to worry, hoteliers, the Wall Streeters will be back when nobody’s looking. In the meantime, this means vacations are on sale for the lucky among us who still have jobs.

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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at Follow him on Twitter at @ryanchittum.