Defying Scrooge might be good business

11/12/2008 | Financial Times (free content)

American Express, Morgan Stanley and other financial firms have canceled Christmas parties around the world, deeming this an unseemly year for corporate celebration. Should you call off the caterers, too? Maybe not. "Companies want to cut costs at the moment. But when times are hard you need leadership," corporate psychologist Ben Williams says. "It is about encouraging people and making them feel valued."

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