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jerryking : financial_communications   6

After 20 Years of Financial Turmoil, a Columnist’s Last Shot - The New York Times
By GRETCHEN MORGENSON NOV. 10, 2017

For the past 20 years or so, as a business columnist for The New York Times, I’ve had a front-row seat for bull and bear markets, scandals, crises and management mischief.

But I am leaving The Times, and this is my last shot at Fair Game. So it seems a fitting moment to look back at what’s changed and what hasn’t in the financial world, for better or worse.

In addition to a string of garden-variety banking and business scandals, four seismic financial events occurred during my time as a columnist: the collapse of the Long-Term Capital Management hedge fund in 1998, the bursting of the dot-com bubble in 2000, the accounting scandals of Enron in 2001 and WorldCom in 2002, and the mother of them all — the mortgage debacle — in 2008. That one brought world economies to the precipice and wiped out Lehman Brothers and a raft of troubled banks.

......“Sarbanes-Oxley came into effect 15 years ago, and there have been fewer accounting scandals and more accountability,”...It’s too bad that the mortgage crisis six years later didn’t result in heightened accountability.

Here’s another sign of progress: Believe it or not, corporate directors are more active in their oversight than they used to be. Egregious board practices and chummy appointments are less common......Something else that hasn’t changed over the decades is analyst and investor reliance on companies’ creative earnings calculations. These figures, which do not conform to generally accepted accounting practices, typically exclude costs that companies incur in their operations.....Inventive earnings calculations, while more prevalent today, were very popular in the lead-up to the dot-com crash. Back then, analysts valued companies based on imaginative, nonfinancial metrics like the number of page views a retail website received or the percentage of “engaged shoppers” visiting a site. ....My search for truths on Wall Street and elsewhere over the years has sometimes raised hackles. That’s to the good. It wasn’t my job to be part of a company’s spin machine.
financial_communications  farewells  NYT  women  retrospectives  Wall_Street  seismic_shifts  LTCM  bubbles  scandals  SOX  truth-telling  boards_&_directors_&_governance 
november 2017 by jerryking
Financial PR spins a new global story — FT.com
MAY 6, 2016 by: By Shannon Bond and James Fontanella-Khan in New York and Arash Massoudi in London

Leading financial communications companies from New York to Hong Kong are responding to growing demand for “whisperers” with global, political and digital nous. Nowadays, PR firms are expected to craft a corporate narrative that works across different markets, to handle complex relations with governments whose interests often diverge and to provide rapid-response crisis management.
crisis_management  Wall_Street  London  Communicating_&_Connecting  boutiques  public_relations  government_relations  consolidation  financial_communications  rapid-response 
may 2016 by jerryking
Boardrooms Rethink Tactics to Defang Activist Investors - NYTimes.com
November 11, 2013 | NYT | By DAVID GELLES.

...with dozens of activist hedge funds pushing for change at companies large and small, executives, directors and advisers are scrambling to calibrate their defenses to this new and in many ways more challenging threat.

“Activism is here to stay,” said Paul Verbinnen, co-founder of Sard Verbinnen, a public relations firm. “People are at a heightened state of readiness.”

But with activists varying widely in their tactics and intentions, there is no one cookie-cutter defense that works. Instead, companies and advisers are adopting more nuanced tactics.
calibration  boards_&_directors_&_governance  shareholder_activism  hedge_funds  public_relations  financial_communications 
november 2013 by jerryking
A good PR consultant is worth paying for: The Entrepreneur
08 Dec 2010 | FT| Luke. Johnson. Having owned PR firms, I
know it can be an attractive investment. Clients are on contracts with
monthly retainers, so no feast & famine of advertising campaigns.
Expenses are staff & premises. A consumer PR agency should generate
20 % net profit margins on revenue; a financial PR agency 30 %.

PR is one of the few segments of the marketing services industry that
has benefited from the digital revolution. Most participants, including
advertising agencies, media buying shops and design houses, have
suffered, as spend on traditional media such as TV and press has been
squeezed....The growing importance of PR in business and society is
exemplified by the power of kings of the trade such as Alan Parker at
Brunswick and Roland Rudd at Finsbury. Both have incredible connections
in the City, Wall Street, industry & politics. The sector has moved
on from spin to embrace communications with investors, regulators,
politicians and other discreet audiences.
Luke_Johnson  public_relations  ProQuest  mass_media  Finsbury  Wall_Street  professional_service_firms  margins  Communicating_&_Connecting  investors  regulators  politicians  financial_communications  digital_revolution 
august 2011 by jerryking
Document Page: RAMP Now Powers 6 of the Top 10 Financial Media Companies Online
Business Wire
03-15-2011
RAMP, the industry's leading Content Optimization platform for major
online media publishers, today announced that it now powers 6 of the top
10 financial media companies on the web, including CNBC,
ThomsonReuters, FoxBusiness, theStreet, Morningstar, & Dow Jones
Factiva. Financial media has continued to be one of the fastest growing
online media segments, RAMP's Content Optimization solutions drive
content discovery and engagement across video, audio, text and image
content and deliver immediate results for major media companies across
the Web."RAMP's focus on premium publishers continues to deliver success
for our company and our customers," said Tom Wilde, CEO of RAMP. "Tier
one media companies require solutions that can deliver scale,
automation, and cost effectiveness. RAMP's core IP combined with
expertise delivering best in class user experiences has made us the go
to partner for financial media publishers."
online  platforms  digital_media  financial_communications  financial_journalism 
may 2011 by jerryking
The spin doctor of restructuring
March 16, 2010 | Financial Times | By Matthew Garrahan in Los Angeles. Profiles Mike Sitrick.
public_relations  entrepreneurship  restructurings  turnarounds  financial_communications  Communicating_&_Connecting 
march 2010 by jerryking

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