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Home > Blogs > The Cycle
The Cycle

Newell hit hard by economy, looks to new media in ‘09

Posted December 17, 2008

Newell Rubbermaid (NR) today announced declining sales, salary freezes, and layoffs, due in part to the flailing global economy and decreasing consumer demand. While it’s “too soon to tell” whether PR staffers will be cut, according to David Doolittle, VP of corporate communications for NR, the communications department is “constantly adjusting our promotional budgets in line with our sales and strategic marketing.”

Unlike some consumer companies, NR has the “flexibility to respond in real time” with the budgeting of communications programs because the company doesn’t depend heavily on TV advertising, said Doolittle. In the new year, the company will leverage more online marketing and social media outreach for its brands, in particular Graco, Dymo, and Sharpie, due to its increasing penetration with consumers and cost-effectiveness, said Doolittle.

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Filed under: Consumer, Corporate Communications, Marketing, New Media, Technology

Tags:economy, New Media, Newell Rubbermaid

Recession hits America’s pastime

Posted November 26, 2008

In case you decided to tune out for turkey day this whole week, Citigroup had a rough start, accepting government help to stave off further instability. But the troubles at the financial institution are now affecting America’s pastime, too: baseball. It called into question the naming deal between Citigroup and the New York Mets.

A $400 million, 20-year deal gave naming rights of the new Citi Field (set to open in April) to Citigroup. But there’s the lingering question of what will happen if the worst should befall the banking group. For now, a Mets’ media relations spokesperson calls the agreement “firm,” and a told The New York Times that the organization is still “committed.” But, like everything else this year, we’ll probably have to wait and see for a definitive answer.

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Filed under: Branding, Financial/IR, Sports

Tags:baseball, Citi, Citi Field, Citigroup, economy, Mets

Cuomo to investigate AIG’s spending since 2007

Posted October 20, 2008

As a follow-up to our piece on AIG and its spending during this financial crisis, ABC News is reporting that Attorney General of New York Andrew Cuomo plans to “review, rescind, and recover all past unreasonable expenditures” from AIG since January 2007.

“We believe these expenditures and payments, made in the absence of fair consideration, violated New York law,” Cuomo said in a letter to the AIG board of directors.

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

Tags:AIG, Andrew Cuomo, economy

Everything is getting pinched

Posted July 28, 2008

The economic doom and gloom continues. This story from Friday’s basically sums up all of the major issues ailing the economy: housing sales, mortgages, problems with the banks. From my perspective, there are two things that really stand out here.

First is the fact that Washington Mutual had to make two public statements in about a week. Here’s the first, which talks about the bank’s liquidity position; the second announces the $3.3 billion second quarter losses.

The second is the various ways in which one set of economic circumstances affects other circumstances. was published over the weekend, talking about the far-reaching implications of lowered bonuses on Wall Street. Not only does it mean less money for the workers themselves, but fewer jobs, less taxes for the city, and less spending with retailers, particularly specialty retailers. It goes without saying that the economy has been hurting everyone, but the ways in which the hurt is being felt continue to surprise.

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Filed under: Corporate Communications, Crisis Communications, Financial/IR

Tags:economy, Washington Mutual

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.

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