Haymarket Media, Inc.
Subscribe Issue Archive Contact Us About Us Advertise Affiliates PRWeek UK PRReport Germany PRWeek Asia
 
PRWeek US
  • Home
  • News
    •  Analysis
    •  In Brief
    •  Sectors
    •  Podcasts
    •  Newsletters
  • Features
    •  Cover Stories
    •  Opinion
    •  Web Exclusives
    •  Roundtables
  • Reports
    •  Agency Excellence Survey
    •  Agency Business Report
    •  Salary Survey
    •  Marketing Management Survey
    •  CEO Survey
    •  Diversity Survey
    •  Cause Survey
    •  Power List
    •  Career Guide
  • Blogs
    •  The Cycle
    •  The Editor's Blog
    •  Page Views
  • Events
    •  PRWeek Awards
    •  Webcasts
    •  Conferences
  • Jobs
  • Directory
  • Subscribe
    •  Customer Service
    •  Newsletters
  • About Us
  • Podcasts
  • Hot Topics:
  • Healthcare
  • Consumer
  • Technology
  • Media
  • Public Affairs
  • Corporate
  • Green
  • 2008 Campaign
Login | Register  
Home > Blogs > The Cycle
The Cycle

Hedge funds seeking transparency

Posted April 17, 2009

As reported this week, hedge funds are concerned about inevitable government regulation and they’re using comms more to talk about the industry.

Conrad Capital Management Consultants (CCM) has introduced the Independent Verification and Operational Review (IVOR). The tool is an on-site, independent audit and operational analysis that detects fraudulent processes and procedures. According to Ron Pateka, a director with CCM, hedge funds are first “apprehensive” about the procedure, but ultimately see the value of it and appreciate the tips that CCM offers for tightening up a hedge fund’s business.

“[Hedge funds] are trying to rest people’s fears, so they’ve hired an outside company to make sure they’re doing everything correctly,” said Donald Conrad, president of the company. “We want to try and help clean up what’s going on.”

The company says most hedge funds are doing things properly, but Pateka says they have found “discrepancies with valuing the portfolio that they didn’t agree with” at some organizations. CCM has been in touch with the Securities and Exchange Commission to propose IVOR as a road map for regulatory decisions.

Related Posts
  • Hedge fund org seeks new president
    The Managed Funds Association, a lobby group for the hedge fund industry, has announced that it is c...
  • Transparency is so passe
    Dealbook blogged yesterday about comments delivered by Citigroup chairman Winfried Bischoff at a fin...
  • Who will buy the Times? And will they find better columnists?
    What if the unthinkable – or what was unthinkable a decade ago – happened, and the members of th...
  • Mystery PR and Mr. Walter Reed
  • Armani suffered from transparency when…

Filed under: Corporate Reputation, Financial/IR, Product Launch

Tags:CCM, Conrad Capital Management Consultants, hedge fund, IVOR

Bernanke, Federal Reserve looking at changes in comms strategy

Posted April 15, 2009

The Wall Street Journal takes a look at Ben Bernanke’s PR campaign and how it has placed him in the “starring role” as he tries to clearly communcate the Federal Reserve’s role, the paper .

According to Reuters, the Fed is reworking its communications strategy, as part of a transparency push that may include regular news conferences and increased availability of information, possibly online.

In recent months, Bernanke has discussed the economic crisis to audiences ranging from college students and the general public to the media and Congress, and he tells the WSJ: “‘I think it is important for the public to understand what is going on and to know that the government is trying to solve the problem … They should know we have a plan and a strategy.”‘

Yet, the paper also notes that Bernanke may placing himself at the heart of the PR effort to ensure his position as chairman of the Federal Reserve is secure. Within the year, President Barack Obama will decide whether or not to reappoint Bernanke.

Related Posts
  • Brunswick study reflects glimmer of optimism at M&A future
    A Brunswick Group survey of 30 Wall Street bankers and lawyers found that a majority (52%) think the...
  • AIG’s PR help becomes news
    The Web has been abuzz with news that ailing insurer American International Group (AIG) has added Ke...
  • Obama might have to shift social media strategy now
    Most communicators agree that the Obama campaign understood social media. David Almacy, former Inter...
  • About 41,000 consumer complaints out of nowhere
  • AIG’s PR firms in the news again

Filed under: Corporate Reputation, Crisis Communications, Financial/IR, Media, Politics, Public Relations

Tags:Federal Reserve, President Barack Obama

AIG’s PR firms in the news again

Posted April 13, 2009

Criticism of AIG’s hiring of PR firms just won’t die. Rachel Maddow and Breakingviews recently took critical looks at the company’s agency roster given its federal funding. This time, it comes in the form of an article from Time: “Is AIG spending too much on public relations?” The author points to recent comments from members of Congress that question “the firm’s p.r. payroll,” as well as a lawyer of former AIG chairman Hank Greenberg. AIG’s SVP of comms, Nick Ashooh - who made PRWeek’s people with the “toughest jobs in PR” 2008 list - broke down the responsibilities of its PR firms to Time.

AIG retained only one full-time p.r. firm when it ruled the insurance world. Today’s four firms, said Ashooh, have different missions: Sard Verbinnen & Co. helps to structure statements on the bailout, Kekst & Co. focuses on sales of assets to pay back federal loans, Burson-Marsteller handles controversial issues and Hill & Knowlton fields inquiries from Capitol Hill and prepares congressional testimony for company officials. “If the criticism was we were running image-advertising or doing sponsorships to make ourselves look better, I could see that,” Ashooh said. “But we’re doing a lot of information-processing. It’s really been just responding to inquiries” from Congress and the media.

Related Posts
  • Iraq contracts in the news
    The Washington Post today writes about the new communications work in Iraq awarded to four firms. P...
  • Bigger doesn’t mean better
    Late last week, I had a meeting with a VP from BlueCurrent PR, Kyle Rose. BlueCurrent is a boutique ...
  • Jack of all trades, or master of one?
    Last week I wrote about Bay Area firms adding healthcare clients to diversify their portfolios in ca...
  • Sybase down to two finalists
  • Voluntary registry unlikely to shed much light

Filed under: Agency-client relationship, Consumer, Crisis Communications, Financial/IR, Politics, Public Affairs, Public Relations

Tags:AIG, Hank Greenberg, Nicholas Ashooh, Rachel Maddow, Time

Comms assists homebuilders merger

Posted April 8, 2009

Good news today, given the abysmal state of the M&A business. Homebuilders had agreed to a $1.3 billion merger were accompanied by a variety of comms initiatives. A Web site has been established that talks about the benefits of the merger, a press release has been issued, and there was a conference call and Webcast this morning. There are no PR firms listed on the press release, however, based on these items, it’s clear that comms is playing an important role as the merger plays out.

Related Posts
  • Lark’s thoughts on C&W merger
    In this week's issue, we report on Cohn & Wolfe's plans to expand its global footprint following...
  • Merger blog
    Wells Fargo has launched a Wells Fargo-Wachovia merger blog (via Web-strategist.com). As Matt Wadley...
  • Manic Monday
    In this past Monday's edition of "Merger Monday", investment/corporate watchers were...
  • What-ifs follow talks of potential GM mergers
  • The new Delta still taking flight

Filed under: Announcements, Corporate Communications, Financial/IR

Tags:Centex, M&A, merger, Pulte Homes

Citi Cards launches two new programs

Posted March 18, 2009

Citi Cards launched two new options for cardholders on March 4: Citi Forward, which rewards customers who use the card responsibly by actually lowering their purchase interest rate by a quarter of a percent; and , which gives customers rewards points for reporting their socially responsible activities on the card’s social media page.

“For Citi, this is an offering that rewards consumers for using credit wisely,” noted Terry O’Neil, EVP of Citi Cards in an e-mail to PRWeek. “For MySpace, the new card educates users about being fiscally responsible and mindful in today’s economic climate.”

Citi Cards has been working with TMGpr on the launch activities, which include a pre-launch Webcast moderated by Christopher Penn from the Financial Aid Podcast; “man-on-the-street” video clips now appearing on the card’s ; ; and media outreach, which has gotten coverage in a number of outlets, including Fox Business News.

“If you want to establish deep connections with your consumers, you have to be wherever they are,” Tami Gross-McCarthy, founder and CEO of TMGpr, told PRWeek. “Citi is interested in a two-way dialogue with consumers. The social media world helps us to achieve that.”

Related Posts
  • Hallmark enters same-sex marriage market
    In the wake of California allowing same-sex marriage, Hallmark created a line of wedding cards for s...
  • California PPOs get graded
    Starting in 2009, California will issue report cards for PPOs, rating them on preventive care, tre...
  • PRSA launches diversity podcasts
    The Public Relations Society of America launched a podcast series called PRSA Diversity Today, which...
  • Recession hits America’s pastime
  • The subprime mortgage fallout continues

Filed under: CSR, Consumer, Financial/IR, Product Launch, Social Media, Viral Video, Web sites

Tags:Citi Cards, Citi Forward, , TMGpr

Let the rebranding begin

Posted March 16, 2009

When a company faces a crisis so bad that it believes its name is permanently sullied, in enters the rebrand and rename. Witness ValuJet to AirTran, Philip Morris to Altria, Anderson Consulting to Accenture, and Blackwater to Xe.

Now it seems it’s the beleaguered auto industry’s turn to get creative. General Motors’ asset management service unit, General Motors Asset Management, has dropped GM from its name, The Wall Street Journal reports. Instead, it will rebrand as Promark Global Advisors, as it looks to win more “external business.” GM currently accounts for 80% of its funds, WSJ writes.

The re-branding exercise represents a marketing about-face for GMAM, which had previously highlighted its relationship with the auto maker as a strength. Marketing material on its Web site noted: “The investment programs offered to our clients are the same ones in which GM’s benefit plans participate.” Some of GMAM’s senior executive team, including its CFO and chief operating officer, joined from GM or its GMAC financing arm.

I wonder who else will get a new name in ‘09?

Related Posts
  • How did you do, CAIR?
    Ted McKenna wrote in this week's issue about how CAIR was rebranding. I wondered how the media appro...
  • Dillard University gets new logo
    In this week's issue, I wrote about Dillard University in New Orleans hiring H&K to lead a rebra...
  • Is a logo forever?
    I recently wrote a story about the ongoing rebranding of Gold's Gym. One thing that is staying the s...
  • JPMorgan Chase cares about you!

Filed under: Automotive, Branding, Corporate Reputation, Crisis Communications, Financial/IR

Tags:Accenture, AirTran, Altria, Arthur Anderson, Blackwater, GM, Philip Morris, ValuJet, Xe

eBay sets live-blogging standards

Posted March 10, 2009

Two things that many in the financial communications probably didn’t expect to see together in the same sentence anytime soon: IR and Twitter.

On Friday, eBay announced on its blog, eBay Ink, that after three quarters of reporting its quarterly earnings via blog and covering the earnings calls on Twitter, the company has created some best practices for the earnings blogging going forward.

Those practices include a separate legal page to the Ink blog, rotating financial info every 90 days on the blog and Twitter, and special language that will designate some Tweets as a live-blogging session for the earnings announcement.

Ebay blogger Richard Brewer-Hay wrote that he was worried when he had to approach his legal team for the first time to talk about best practices and couldn’t find other companies who were using these social media tactics for their earnings announcements. But his fears were unfounded.

“I was worried I would be forced to cease this innovative way of reporting company information to our constituents,” Brewer-Hay wrote. “Thankfully that was not the case. Rather, it was mutually agreed that we could take this opportunity to set up a best practices approach to live-blogging and reporting company information via the Web - beyond traditional conference call and press release.”

Related Posts
  • US-bred eBay no match for Asian markets
    EBay has three strikes in Asian markets with this week's announcement that it will close its Chinese...
  • Party wars
    The New York Times had a hilarious blow-by-blow of the eBay-Google party wars. Here’s what happene...
  • Taking the anarchy out of campaign blogging
    The first rule of blogging, at least on many political blogs, is that there is no such thing as a ru...
  • Save SaveBudweiser.com
  • The Internet: The new destination for all your favorite (and new) shows

Filed under: Announcements, Blogs, Corporate Communications, Financial/IR, New Media, Technology, Web sites

Tags:blog, earnings announcements, Ebay, IR, Social Media,

AIG-Kekst relationship not new

Posted March 6, 2009

American International Group (AIG) declined to comment to PRWeek on the buzz earlier this week concerning its relationships with a number of PR firms, including Kekst & Company.

After the blog item posted, PRWeek spoke with Christina Pretto, AIG’s VP of corporate media relations, who clarified the company’s partnership with Kekst, saying the relationship isn’t new, that “AIG has worked with Kekst for years on M&A transactions.” Pretto declined to comment further.

Related Posts
  • Publicis acquires Kekst
    NEW YORK: Publicis Groupe has acquired corporate and financial PR firm Kekst and Company. Kekst will...
  • Private is as Private does
    Slate's Daniel Gross has an ingenious solution for the private equity giant Blackstone Group, which ...
  • Kekst still on top according to mergermarket
    Kekst is No. 1 again according to the results of mergermarket's Q1 2008 league table for North Ameri...
  • The Deal talks about the biggest deals
  • Gershon Kekst rubs elbows with Martha Stewart

Filed under: Agency-client relationship, Corporate Communications, Corporate Reputation, Financial/IR, New Media, Public Relations, Web sites

Tags:AIG, American International Group, Kekst & Company

AIG’s PR help becomes news

Posted March 4, 2009

The Web has been abuzz with news that ailing insurer American International Group (AIG) has added Kekst & Company to its list of PR firm representation. AIG is also working with Sard Verbinnen, Hill & Knowlton, and Burson-Marsteller. AIG declined to comment on the PR firms with which they’re working .

AIG has received $150 billion in government funds since September, when the federal government also took an 80% stake in the company. AIG reported fourth quarter net losses totaling $61.7 billion on March 2nd. The company also came under fire during from both members of the Senate Budget Committee and Federal Reserve Chairman Ben Bernanke, who said that “AIG exploited a huge gap in the regulatory system.” AIG may receive a fourth round of bailout funding to stay afloat.

Related Posts
  • ‘Uncle Jay’ explains the news
    The Tribune Company is hoping "Uncle Jay" will make the news more fun or at least help "small minds...
  • Wii brilliant
    No one can complain about a shortage of options for receiving news. Especially when you're talking a...
  • News - not worth paying for in the future
    Many commuters, mostly in urban areas, enjoy free daily newspapers during the morning commute thanks...
  • Young news consumers want convenience and context, says study
  • Addendum from the print mag

Filed under: Agency-client relationship, Crisis Communications, Financial/IR, New Media

Tags:AIG, Burson-Marsteller, Hill & Knowlton, Kekst & Company, Sard Verbinnen

Bartz uses Yahoo blog to explain management changes

Posted February 26, 2009

Carol Bartz, Yahoo’s CEO since January, reached out to consumers via the company blog today, shortly after it disclosed that Blake Jorgensen, CFO, will exit as soon as his replacement is found.

“Today I’m rolling out a new management structure that I believe will make Yahoo a lot faster on its feet,” she blogged. “For us working at Yahoo, it means everything gets simpler. We’ll be able to make speedier decisions, the notorious silos are gone, and we have a renewed focus on the customer.”

More to come…

Related Posts
  • Bartz named new Yahoo CEO
    Yahoo has named Carol Bartz its new CEO. According to the Associated Press, Bartz is a “no-nonsens...
  • Yahoo on eve of reorganization?
    A reorganization of management is expected at Yahoo in the coming weeks, reports All Things D. Swis...
  • Yahoo’s comms restructuring being “fleshed out”
    According to Brad Williams, VP of corporate communications at Yahoo, the company’s corporate comm...
  • Who gets Yahoo?

Filed under: Blogs, Corporate Communications, Financial/IR, Technology

Tags:Blake Jorgensen, Carol Bartz, Yahoo

Next Page »

The Cycle

For both journalists and communicators, the news cycle never ends. At The Cycle, PRWeek’s editorial team offers commentary and viewpoints on how the latest marketing, business, political, and cultural news impact the PR industry.

Tags
AIG Apple Associated Press Baltimore Sun Barack Obama Burson-Marsteller California CBS Chicago Tribune CNN Congress Dell Edelman Editor & Publisher Fleishman-Hillard Hillary Clinton Huffington Post IR John McCain Keith Olbermann Los Angeles Los Angeles Times Marcus Brauchli Mark Penn Microsoft MSNBC News Corp New York Post New York Times NIRI Porter Novelli PRSA PRWeek PRWeek Awards Scott McClellan The New York Times Tribune Co. Wall Street Journal Washington Post Weber Shandwick WPP Yahoo

RECENT POSTS

Studios still beholden to TV spend

Marketing in a recession (or depression)

SAG and AMPTP reach agreement

Highs and lows of marriage

NYT looks at drug ad confusion among marketers



Authors
  • Aarti Shah (88)
  • Alexandra Bruell (79)
  • Beth Krietsch (5)
  • Erica Iacono (13)
  • Frank Washkuch (135)
  • Gideon Fidelzeid (2)
  • Hamilton Nolan (8)
  • Irene Chang (57)
  • Jaimy Lee (36)
  • Keith O'Brien (115)
  • Kimberly Maul (162)
  • Marc Longpre (1)
  • Matthew McGevna (2)
  • Michael Bush (91)
  • Nicole Zerillo (36)
  • Randi Schmelzer (1)
  • Rose Gordon (40)
  • Ted McKenna (90)
  • Tonya Garcia (139)

Archives
  • April 2009
  • March 2009
  • February 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
  • September 2008
  • August 2008
  • July 2008
  • June 2008
  • May 2008
  • April 2008
  • March 2008
  • February 2008
  • January 2008
  • December 2007
  • November 2007
  • October 2007
  • September 2007
  • August 2007
  • July 2007
  • June 2007
  • May 2007
  • April 2007
  • March 2007
  • February 2007
  • January 2007
  • December 2006
  • November 2006
  • October 2006
  • September 2006

Categories
  • 1
  • 2008 Campaign
  • Advertising
  • Agency-client relationship
  • All PRWeek blogs
  • Announcements
  • Arts & Entertainment
  • Automotive
  • Awards
  • Blogs
  • Branding
  • Careers
  • Consumer
  • Corporate Communications
  • Corporate Reputation
  • Crisis Communications
  • CSR
  • Culture
  • Diversity
  • Education
  • Events
  • Financial/IR
  • Food and Beverage
  • Green
  • Guerilla/WOM
  • Healthcare
  • HR
  • Industry/Energy
  • Internal Communications
  • International
  • Journalism 2.0
  • layoffs
  • Lobbying
  • Marketing
  • Measurement/Monitoring
  • Media
  • Miscellaneous
  • Mobile Marketing
  • Multicultural
  • Music
  • New Media
  • Partially there
  • Politics
  • Product Launch
  • PRWeek
  • PRWeek Awards
  • Public Affairs
  • Public Relations
  • Social Media
  • Sports
  • Technology
  • Travel
  • Viral Video
  • Web sites

  • Blogroll

    • WordPress.com
    • WordPress.org

Home | News | Newsletters | Blogs | Directory | PR Jobs | Events | Subscribe | Contact Us | About Us | Editorial Calendar | Reprints | Advertising

This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization.

Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions