All I Want for Christmas Is an Open Bar

Weakness in the housing sector, an ever-crumbling automotive industry, and this year's massive job cuts and write-offs in the financial services sector might give one the impression that the U.S. economy is headed down the tubes.

But if holiday cheer is any indicator, corporate America is not overly concerned about being caught fiddling while Rome burns. A survey out today from outplacement firm Challenger, Gray, & Christmas reveals that 90 percent of companies plan to hold holiday parties this year, up from 79 percent in 2006.

What's more, nearly 40 percent of those planning to party are increasing the budget this year.

But while money doesn't seem to be an object, more respondents are second-guessing the wisdom of introducing booze to the mix. While a greater number of those surveyed said they planned to use a party planner or caterer, only 46 percent are providing alcohol. That is down from 60 percent in 2006.

John A. Challenger, the chief executive of Challenger, Gray & Christmas, chalked the budget allocation difference up to concerns over corporate responsibility and liability, and a desire to minimize career-ending "party fouls."

Perhaps all that bloodletting and budget cutting has left some tension bubbling under the surface between employees and management? Given the possibility for eruption, probably best to keep everyone away from the hooch this year.