Some biofuels may contribute to greenhouse gas emissions in ways that can significantly reduce, and sometimes offset, their advantages over fossil fuels, studies have shown.
The descendants of Curt Carlson will no longer serve on CWTs board of directors under a proposed financial restructuring, announced Wednesday, to repair the travel management company’s balance sheet and dilute the family’s stake. Holders of over 90 percent of CWT’s outstanding debt agreed to a deal that would make majority owners of a handful of institutional investors, including MassMutual subsidiary Barings LLC and New York Life company MacKay Shields. None of the investors operates in the travel industry, according to CWT CEO Michelle McKinney Frymire.
What some once saw as largely penny-pinching paperwork, pre-trip approval now is a crucial component for assessing risk and determining how best to accomplish missions. It’s also helping to bring sustainability to the fore. Increasingly, organizations apply the process on all proposed trips. More also scrutinize trips before travelers book. Who does the approving is changing, with more involvement from risk, security, HR and senior levels. How it’s done also is evolving as travel management and tech providers enhance pre-trip products.
Travel’s comeback this summer, as tenuous as it is, has the entire industry — including airport managers and architects — thinking about doing things better. “Covid was a shock event that caused a great disruption, and accelerated thinking about giving back the joy of travel,” said Alex Thome, head of the airport division in the United States at Stantec, which has designed airports in Denver; Toronto; Nassau, Bahamas; and elsewhere.
The sharp increase in U.S. merchant contactless payment capability during the pandemic is increasing the appeal of virtual payment by tackling one of its many challenges. For all their well-documented strengths in terms of controls, fraud prevention, data quality and velocity, compliance, reduction in manual processes, ease of distribution and support for infrequent travelers, virtual cards traditionally hit speed bumps out in the field. Hotels often had trouble accepting them at check in, and virtual payment generally was not an option in restaurants. During the past few years, though, more providers made virtual payment available via mobile wallets or apps. Now the pandemic is accelerating acceptance.
In the works since 2018, the initial version of ISO guidance on travel risk management is scheduled for release this month. It will provide a roadmap and a set of best practices that could evolve into a more formal standard and associated certification. Travel risk management experts welcome the publication and see it as a tool to help most organizations get a better handle on writing relevant policies, preparing travelers, and analyzing and mitigating risks. It could also help to further raise the profile of travel management.
For years now, we’ve heard endless discussions on how to make work-life balance a reality, and time and time again, we see those concepts challenged, redefined, and downright labeled an impossibility. And then you hear from the occasional person that it’s achievable. But there are so many variables, including home life, earning power, proximity to support and help, and work role and responsibilities that approaching balance in any one way will most certainly not work for everyone.