Friday, October 10, 2008
Transparency
Today, brutality can't hide, as the Russians are learning. Even commercial satellites now have a resolution that was long reserved for the most advanced spy satellites. Look for activists to use imagery to their advantage
Complete Loss Of Confidence
The markets are showing a complete loss of confidence . Whenever someone asks what a good reputation is worth, the answer should be "trillions." That is what has been lost so far.
Thursday, October 09, 2008
Erosion
Voters are starting to make up their minds and McCain is watching his support slip away. With less than a month to go, it is doubtful he can win back those who are now in Obama's camp. From a PR perspective, what can a candidate do to get people listening to him again? It seems now like McCain is playing to the end of the game but aware he is too many points behind. Perhaps he isn't looking at the polls, but how does one continue to motivate campaign workers and supporters who do watch them? It requires extraordinary persuasion. Is McCain up to it? Should he pull off a win at this point, it will be a communications case study for years to come.
Wednesday, October 08, 2008
Reputation And Timing
This fellow is trying to win his reputation back. Unfortunately, it is too early. The timing is wrong. Perhaps in three or four years, the public might take an objective look at how his company affected Wachovia. For now, the public believes he dragged the bank down, and there is little he can say or do to change minds.
The time element and reputation are too often overlooked. We believe with a good PR program we can protect reputation. Not always. There are companies and individuals who get caught in a maelstrom from which there is no extraction. Think about the current President. There are many who believe he is the worst President ever. That may be true, but we won't know for at least 20 years when from a distance we can assess him without emotion. By then, we will have experienced the results of his policies and will know how much he is to blame -- or not -- for the mess the country is in. Reputation has two time spans -- short and long-term. PR practitioners are paid to protect companies and individuals today.
The time element and reputation are too often overlooked. We believe with a good PR program we can protect reputation. Not always. There are companies and individuals who get caught in a maelstrom from which there is no extraction. Think about the current President. There are many who believe he is the worst President ever. That may be true, but we won't know for at least 20 years when from a distance we can assess him without emotion. By then, we will have experienced the results of his policies and will know how much he is to blame -- or not -- for the mess the country is in. Reputation has two time spans -- short and long-term. PR practitioners are paid to protect companies and individuals today.
Tuesday, October 07, 2008
Now They Tell Us
This is a good explanation of the risks built into complex derivatives. One wishes that Wall Street had understood it before the market meltdown. Instead, we are suffering a worldwide crisis that will affect the economy for months to come.
What went wrong? Assumption piled on assumption with neglect for the uncertainty contained in each. The developers of derivatives failed to appreciate the underlying facts of the risks involved and that risks are cumulative. The meltdown was in the details.
It is in the details where communications plans fail as well. A PR practitioner cannot afford to gloss over niggling facts that jeopardize the larger message one wants to send. Cynical media will latch onto them and take the story into another direction. Accepting a company's story is the first step in telling it accurately. If there are warts, one notes them but also points to offsetting factors that put warts into perspective. Reporters appreciate self-awareness. Too many executives lack it or hide behind an overly optimistic message. As one CEO says, facts are friendly. Had Wall Street's mathematicians understood that, the risks they took would have been better hedged.
What went wrong? Assumption piled on assumption with neglect for the uncertainty contained in each. The developers of derivatives failed to appreciate the underlying facts of the risks involved and that risks are cumulative. The meltdown was in the details.
It is in the details where communications plans fail as well. A PR practitioner cannot afford to gloss over niggling facts that jeopardize the larger message one wants to send. Cynical media will latch onto them and take the story into another direction. Accepting a company's story is the first step in telling it accurately. If there are warts, one notes them but also points to offsetting factors that put warts into perspective. Reporters appreciate self-awareness. Too many executives lack it or hide behind an overly optimistic message. As one CEO says, facts are friendly. Had Wall Street's mathematicians understood that, the risks they took would have been better hedged.
Monday, October 06, 2008
New Day
With the passage and signing of the bailout (Pardon me. Rescue) bill, the US economy has entered a new day. I'm no economist nor a prognosticator of markets, but the lack of faith shown in the economy in the last three weeks was so great, it is hard to believe that the indexes will roar back. It takes time to rebuild confidence once it is lost. It sure seems to me that we are in a period of muddling when traders will stand back as financial concerns feel their way through. Call it a recession or what you will, but as a PR person, it is a lesson in credibility. When people stop believing, there is little one can do until time and activity rebuild it.
I'm no political pundit either, but this period would seem to favor Democrats far more than Republicans. John McCain already is concerned. He should be.
I'm no political pundit either, but this period would seem to favor Democrats far more than Republicans. John McCain already is concerned. He should be.
Friday, October 03, 2008
Out Of Touch
Yesterday was long. From 8 am to 1 am this morning on the road. There was an odd feeling being out of touch while the market tanked and the vice presidential candidates tangled on TV. On the other hand, given the news lately, it wasn't that bad.
The job yesterday was media training. I had the part of a "black-hatted" inquisitor whose task was to make a president of a company squirm. To the president's credit, he did well and made few errors. I don't think I would have handled the questions thrown at him as well as he did. It is hard to keep one's cool under relentless badgering. There is an urge to tell the questioner to go some place hot for eternity. The president hung in and proved himself a good spokesperson for his firm.
The job yesterday was media training. I had the part of a "black-hatted" inquisitor whose task was to make a president of a company squirm. To the president's credit, he did well and made few errors. I don't think I would have handled the questions thrown at him as well as he did. It is hard to keep one's cool under relentless badgering. There is an urge to tell the questioner to go some place hot for eternity. The president hung in and proved himself a good spokesperson for his firm.
Thursday, October 02, 2008
The Public Will Be Heard
The $700 billion rescue plan (aka "bailout") has generated more e-mail than the House of Representatives can handle. Their server was overwhelmed. No wonder there was a revolt on the House floor.
While its possible that the gateway was hit with a Denial of Service attack, it is more likely that citizens are angry and they want to let someone know. From a PR perspective that is eyeopening. It should have told the Speaker of the House that a vote on the bill might be premature. Apparently, it didn't. Or, perhaps the Speaker doesn't understand yet that the internet has produced a more involved citizenry. That is something that the Democratic candidate for President understands well. He could give her a lesson.
While its possible that the gateway was hit with a Denial of Service attack, it is more likely that citizens are angry and they want to let someone know. From a PR perspective that is eyeopening. It should have told the Speaker of the House that a vote on the bill might be premature. Apparently, it didn't. Or, perhaps the Speaker doesn't understand yet that the internet has produced a more involved citizenry. That is something that the Democratic candidate for President understands well. He could give her a lesson.