The 27th Allen & Co. conference wrapped up in Sun Valley on Saturday, with the Wood River Valley once again playing host to business tycoons, international dignitaries and celebrities.
Returning to the resort grounds were perennial high-powered Allen & Co. guests, including Microsoft co-founders Bill Gates and Paul Allen, media mogul Rupert Murdoch, and billionaire Warran Buffet, who competes with Gates for the title of wealthiest man in the world.
Making debut appearances were a pair of notable political figures in the form of Gen. David Patraeus, who oversaw all coalition forces in Iraq for nearly two years and is presently in charge of U.S. Central Command, and Alvaro Uribe, president of Columbia, neither the film studio or university, but the country.
As well, this edition of the annual event may have been the first time two kings were simultaneously in attendance, albeit only one could actually held the title of true royalty. While Abdullah II, King of Jordan, could be recognized by his phalanx of body guards, LeBron "King" James, was even easier to spot in the crowd, as he was the only attendee with the obvious physical attributes necessary to be a star in the National Basketball Association.
While Wall Street neophytes might go to great lengths to meet Buffet or Murdoch, it was for an encounter with this past season's NBA Most Valuable Player that over a dozen Ketchum teens waited outside of Il Naso, hoping for James to finish his dinner. James did not disappoint, taking time for photos and autographs.
When asked why James was attending the conference, Herbert Allen III, president of the investment bank, said that the 24-year-old athlete is "a business man and entrepreneur, as well as a basketball player."
Other well-intentioned deeds included a report of Buffet's wife Astrid and a group of her friends, including Ginny Ueberroth, wife of former Time Magazine Man of the Year Peter Ueberroth, spending time during a hike up Procter Mountain to clean up several dozen beer cans that had been discarded at the trailhead.
Starting with a cookout on Tuesday evening, the event ran through Saturday morning, and including presentations reportedly on the future of the Internet, how to manage an international company in today's economy, the state of the U.S. healthcare system and current events in Iran.
While Allen told the Mountain Express that he thought the atmosphere would be optimistic prior to the conference, Murdoch had a different take after a number of panel discussions on the economy.
In an interview on the Fox News Network, Murdoch reported that the mood at the conference was "very bearish,"
"I'm shocked at the business mood, which is talking about either that we're at the bottom or going lower, but that it's going to take years and years, like five years at least before we see any real growth coming out of this," Murdoch told Fox Business Network reporter Stuart Varney.
This attitude didn't keep the guests from taking advantage of the goods and services in the valley, however.
Sporting good shops around town, including PK's and Sturto's said that nearly their entire fleets of rental bikes had been hired by Allen & Co. guests.
A number of these were commandeered by Gen. Patraeus, an avid cyclist and near fanatic when it comes to exercise, who, along with his security staff, took to the single track near the resort.
Hundreds of local residents were employed during the conference, with jobs ranging from fly fishing guides to baby sitters.
While the exact economic benefit to the valley is difficult to tally, Sun Valley/Ketchum Chamber & Visitors Bureau Executive Director Carol Waller has estimated that the five-day event brings in millions of dollars to the valley, along with media coverage that would cost upwards of $200,000.
"We don't know the exact number, but this event has a huge economic impact on the area," said Bronwyn Patterson, spokeswoman for the visitors bureau. "The conference is very valuable to us and we're so happy that come back year after year."
And according to Allen, there are no plans to take the confab elsewhere. Allen said that he sees the conference returning indefinitely in coming years.
Jon Duval: jduval@mtexpress.com
Alvaro Uribe, president of Columbia, was a surprise guest at this year’s Allen & Co. conference. Uribe was one of many influential political and business attendees at the 27th media, entertainment and technology conference. Also new to the conference this year was U.S. Gen. David Partaeus.
