Economic slump means fewer Calgary Stampede parties

With energy companies cutting thousands of jobs, one Calgary event planner says lavish Stampede celebrations are being cancelled or scaled back.

"Last year was the time of sirloin steak and this year it's burgers and dogs," said David Howard, president of The Event Group.

For Howard, business surrounding The Greatest Outdoor Show on Earth has already dropped 40 per cent.

"The optics just aren't that great for a company that's stock has dropped 20 points and then they're going to put on a half-million-dollar Stampede event," he said.

"You know, shareholders wouldn't be too thrilled seeing that sort of thing."

Some of Howard's clients are already axing their Christmas parties, even if it means they will lose a large cash deposit.

Four big oil and gas companies recently pulled the plug on events Paddy Sorrenti was going to cater.

He relies on the Calgary Stampede for about a quarter of his business and says corporate Calgary events are a good indicator for how well Alberta's energy industry is doing.

"If the oil and gas companies are spending money, that means people have jobs, that means they're spending money. The oil companies start holding back, I think we're in a little bit of trouble," Sorrenti says.