JPMorgan CEO Jamie Dimon Addresses State of the Economy at NYU Hospitality Conference

NEW YORK, June 9, 2009 - JPMorgan CEO Jamie Dimon was riveting as the featured luncheon speaker at the 31st Annual NYU International Hospitality Investment Industry Conference. Often interrupted by applause and laughter, Dimon addressed a room full of global hotel CEOs, analysts, and other hospitality leaders about the current state of the economy and the future outlook.

Media outlets such as Reuters, Bloomberg, Crain’s New York Business, and more reported on Dimon’s mock letter to U.S. Treasury Secretary Timothy Geithner, which read in part:

“Dear Timmy – We are happy to be able to pay back the $25 billion you lent us. We hope you enjoyed the experience as much as we did.”

Crain’s New York Business summarized Dimon’s general sentiment with the following:

“While he still believes it was the right decision for his bank and that the TARP program ‘saved the country an enormous amount of pain and suffering,’ Mr. Dimon believes that banks are unfairly maligned as the culprits for the economy’s problems. The real fault, he maintains, lies with businesses and financial instruments that were unregulated.”

Hosted by the NYU Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management and sponsored by the leading hospitality organizations, the NYU Hospitality Conference is the premier hospitality finance and development forum of its kind.

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Established in 1934, NYU-SCPS (scps.nyu.edu) is one of NYU’s several degree-granting schools and colleges, each with a unique academic profile. The reputation of NYU-SCPS arises from its place as the NYU home for study and applied research related to key knowledge-based industries where the New York region leads globally. This is manifest in the School’s diverse graduate, undergraduate, and continuing education programs in fields such as Real Estate and Construction Management; Hospitality, Tourism, and Sports Management; Global Affairs; Philanthropy and Fundraising; Graphic Communications Media, Publishing, and Digital Arts; Human Capital Management, Marketing, and Public Relations; with complementary strengths in the Liberal and Allied Arts; Translation and Interpreting; Management and Information Technology; and Finance and Taxation. More than 100 distinguished full-time faculty members collaborate with an exceptional cadre of practitioner/adjunct faculty and lecturers to create vibrant professional and academic networks that attract nearly 5,000 degree-seeking students from around the globe. In addition, the School fulfills the recurrent continuing higher education needs of local and professional communities, as evidenced by 55,000 annual enrollments in individual courses, specialized certificate programs, conferences, workshops, seminars, and public events. The School’s community is enriched by more than 25,000 degree-holding alumni worldwide, many of whom serve as mentors, guest speakers, and advisory board members.

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