SAS CEO closes the World Economic Forum on Latin America with call for action from private sector and policymakers

Jim Goodnight co-chaired event that drew hundreds of Latin American leaders to address critical issues

CARY, NC  (Apr. 21, 2009)  –  The World Economic Forum on Latin America, which gathered over 500 leaders from more than 35 countries, representing business, government, academia, civil society and media, ended April 16 on a note of cautious optimism. Participants called for greater cooperation between government and business to address the current economic situation and broad social issues such as education, sustainability and poverty reduction. 

SAS CEO Jim Goodnight was one of the co-chairs of this prestigious event, the fourth since the inception of the World Economic Forum in 1971. The other co-chairs for the event were Timothy P. Flynn, Chairman of KPMG International from the US; Lord Levene, Chairman of Lloyd's Insurance from the UK; Ricardo Villela Marino, CEO for Latin America for the Brazil-based Banco Itaú Unibanco; and Marcelo Bahia Odebrecht, CEO of Engineering and Construction of Odebrecht Brazil and President of Odebrecht Group. 

The two-day event ended with a consensus among participants that Brazil and most Latin American countries will be among the first to emerge from the current economic situation. The crisis will make them stronger by forcing governments to implement long-delayed reforms and infrastructure spending, and strengthening intra-regional trade.

Goodnight said, “Protectionism might be politically tempting in times of uncertainty but history shows that the main losers of such short-sighted policies are jobs and employees.” Given its sheer size and geography, Latin America is a sustainable trading region on its own. By fostering more trade relations, Latin America will give birth to a new class of entrepreneurs, relying on a better educated work force. 

Goodnight also noted that while globalization will continue, business and policy leaders must make sure that ethics and people are placed at its core. During one of the business sessions Goodnight said, “Businesses need to act responsibly, in particular in times of crisis. Laying off employees for short-term profits is not a sustainable solution. The winners of this downturn will be the ones who adopt a long-term view, maintain and improve their work force, look inward and consider how to optimize processes and improve efficiency so that they are in a better position to move ahead once recovery comes.”

The presence of Goodnight as a co-chair of the World Economic Forum on Latin America indicates the importance of this region for SAS. In 2008, SAS business in Latin America grew nearly 25 percent.

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