Levick Weekly Nov 16 2012

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Bigger than Libor Major Banks at Risk for Energy Manipulation

Will The Consumer Financial Protection Bureau Grow Stronger Or Die After The Election?

Social Media Influence with Fay Feeney

Decision 2012 It Was About The Technology, Stupid

Board Evaluations Getting it Right

NACD Boardvision Tone at the Top


The Future of Financial Communications with Candi Wolff

Blogs Worth Following

LEVICK In the News

http://levick.com/insights

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Levick Weekly Nov 16 2012

  1. 1. EDITION 17Weekly November 16, 2012 bigger than Libor Major Banks at Risk for Energy Manipulation
  2. 2. 03 Contents 04 Bigger than Libor Major Banks at Risk for Energy Manipulation 08 Will The Consumer Financial Protection Bureau Grow Stronger Or Die After The Election? 13 Social Media Influence with Fay Feeney 14 Decision 2012 It Was About The Technology, Stupid 18 Board Evaluations Getting it Right 22 NACD Boardvision Tone at the Top 24 the Future of Financial Communications with Candi Wolff 25 Blogs Worth Following 26 LEVICK In the News
  3. 3. Bigger thanLibor ajor banks have another fight on historically quicker-to-settle postures vis-à-vis M their hands. This set-to is not with inveterate the financial regulators. While Barclays says it will “rigorously defend” itself, Deutsche Bank is a most interesting case in point as that bank antagonists like the SEC or the Department of has vowed to fight even though its exposure is Justice but with the Federal Energy Regula- only $1.5 million. Such a “not-one-penny-for tory Commission (FERC), which oversees the tribute” position suggests that these banks are Major Banks at Risk oil, natural gas, and electricity industries. The tough part is figuring out how to size up and likely fearful of the interminable litigation that might arise should they settle too docilely. If it ― for ― respond to this relatively unfamiliar inquisitor. can also be established that the trading strate- Energy Manipulation FERC has thus far gone after JPMorgan Chase, gy was ill-advised but not illegal, the banks will Deutsche Bank, and Barclays for alleged ma- be spared significant future pain. nipulation of energy prices—and the stakes Richard S. Levick, Esq. Perhaps the banks are also a mite territorial are potentially as high, at least in terms of Originally Published on Forbes.com in their perceptions, as if FERC should not be the penalty amounts sought, as any numbers playing sheriff in their town. Such territoriality splashed across the front-page stories of recent might actually be understandable as past regu- years. The action against Barclays is especially latory oversight typically focused on either the conspicuous. Here the agency is seeking $470 physical markets or derivatives. Importantly, million, which is not just the largest fine in though, the general lesson—of which these FERC history but $20 million more than what present energy cases are just one example—is Barclays got hit for in June, 2012 over the Libor that government regulation overall is increas- bid-rigging scandal. ingly de-compartmentalized. Any sound cor- The cases against the big banks culminate a porate strategy must assume an almost bound- regulatory initiative by FERC that has so far re- lessly multifaceted regulatory landscape. sulted in 19 actions over the last two years. The There’s more to life than the SEC. core issue involves a trading strategy that in- At the same time, the agencies are by no means dustry veterans say has actually been globally homogenous. In any regulatory challenge or commonplace: an artificial depression of next- crisis, businesses have to make separate assess- day physical energy prices in order to increase ments of each public entity with which they the value of separate financial contracts. They must deal. Each has its own character, its own lose a few million in the physical market; they agenda. What motives drive the regulator? make tens of millions in derivative positions. What can be gained or lost through appease- Reportedly, the banks have been relatively ment? What can be gained or lost by circling feisty in their response to FERC compared to the wagons? 05
  4. 4. Weekly “ It is a bureaucratic opportunity; it is a political opportunity.” FERC may be a particularly difficult read for those caught in its crosshairs. Comments by tunity quite unequivocally, even before these current investigations, when it levied a $245 observers like Tyson Slocum, the director of the million penalty on Constellation Energy in energy program at Public Citizen, suggest an March for purported manipulation. ambiguous prognosis. “It’s the most powerful “Since 2005, FERC has been taking baby steps agency that no one knows about,” he says, but into the enforcement process. Now they’ve he also observes that FERC continues to rely found their sea legs,” says Mark Ruddy of the on private companies to ferret out instances of Ruddy Law Office, PLLC, which assists alterna- manipulation. In that sense, he suggests, the tive investment clients in their interactions current bank cases are anomalous because of with regulatory entities, including FERC. their unique magnitude and not necessarily indicative of an invigorated regulator. In formulating a strategic response, any bank targeted by FERC should consider the likeli- Yet energy industry members and investors are hood that the agency does indeed see itself at well-advised to err on the side of great caution. a turning point in its own history. Both a wary Here’s a government entity that’s taken some- evidence that it had not violated market rules ing strategically at this moment. Nor is it likely assessment of the longer-term consequences thing of a back seat in terms of public awareness, or risk losing its license to sell power at mar- lost on FERC that oil and other energy sectors of appeasement, combined with some thinking despite the 2005 expansion of its powers to in- ket rates. In October, JP Morgan relinquished may likewise be worth a look for similarly al- about how to work more collaboratively with vestigate manipulations after the Enron scandal. some documents with an apology and less- leged patterned manipulations. It’s time now this nascent regulator, are therefore all the Then, just this year, a special division was formed then-compelling excuse. for industry companies and investors alike more in order. that includes members with data-analysis exper- to assess potential liability and gather profes- But even if FERC ultimately falls far short of tise as well as criminal investigators. “The banks’ attitude toward FERC has always sional resources for what may well be a very the full recoveries it seeks, the warning shot been, ‘You just don’t get it,’ observes Ruddy. tough fight ahead. Now that they’ve got some raw meat in the has sounded across the proverbial bow. “I “That is still their attitude.” form of the very financial institutions that have would wager that any firm that traded both The ghost of Enron looms over these proceed- been so effectively vilified since 2008, it would Yet it does seem so far that FERC is now a match physical and financial power is at risk of a sim- ings. That will only make the fight tougher. L seem that all signals are go for an increasingly for a stubborn counter-offensive, and that it has ilar FERC action,” energy expert Craig Pirrong Richard S. Levick, Esq., President and CEO of LEVICK, repre- decisive and far-reaching regulatory agenda. won some early rounds against the big banks. of the University of Houston told the media. sents countries and companies in the highest-stakes global It is a bureaucratic opportunity; it is a political When JPMorgan refused to turn over docu- communications matters—from the Wall Street crisis and the Amen to that. It’s not just Barclays and JPMor- opportunity. FERC, in fact, seized such oppor- ments, FERC countered that it must provide Gulf oil spill to Guantanamo Bay and the Catholic Church. gan and Deutsche Bank that need to be think-06 07
  5. 5. Will The Consumer FinancialProtection Bureau Grow StrongerOr Die After The Election?Kathleen Wailes & Kate D’AmicoOriginally Published on Seekingalpha.com
  6. 6. Weekly The Consumer Financial Protection Bureau: Is The CFPB Protecting or Provoking? Bureau also gained supervisory responsibility card company practices and working toward a The name alone makes banks, lenders and for the credit reporting industry. global mortgage industry settlement. The Consumer Financial Protection Bureau, or other financial institutions around the country cringe because it has tremendous and wide- CFPB as it is more commonly known, was cre- The Bureau’s creation was mandated by the An Easy Ride or an Uphill Battle ated in the wake of the financial crisis to act as Dodd-Frank Wall Street Reform and Consumer ranging power. It is a source of consternation Regardless of Republican and financial industry a regulator for any consumer-facing financial Protection Act, which was signed into law by for the financial services industry because they opposition, the CFPB has put significant funds institutions, including banks, credit unions, President Obama in July 2010. Still in its infan- not only must meet new requirements, but also back into the pockets of consumers and estab- securities firms, payday lenders, mortgage cy, the CFPB began operation and immediately have no history with the Bureau to guide regu- lished many rules and regulations with the goal servicers, and debt collectors. Recently, the sparked controversy. From the get-go, the latory expectations. of preventing a repeat of the financial crisis that CFPB, especially the consultant in charge of its caused the Great Recession. But, with the coun- creation, Elizabeth Warren, faced Republican try on the brink of a historically close presiden- opposition. President Obama exacerbated this tial election, the CFPB may hit a wall. tension when he bypassed Congress and ap- pointed Democrat Richard Cordray as CFPB If President Obama wins the election, the CFPB Director during a recess—a move House Speak- is likely to continue to grow and thrive un- er John Boehner described as “an extraordi- der the administration that created it. CFPB’s nary and entirely unprecedented power grab.” enforcement actions, which kicked off with Cordray, a former Ohio Attorney General with a hefty $210 million settlement charge from reported future political aspirations, vowed an Capital One in July, will likely increase in ambitious agenda. scope and frequency. The Bureau will more aggressively target unfair consumer financial On the horizon for the CFPB are companies practices while continuing to support financial involved in debt collection and credit report- literacy among the public―and, in turn, con- ing. These companies have earned scrutiny tinue to establish and solidify its presence as a from state regulators and consumer protection regulator of the financial industry. groups because of their aggressive tactics. The CFPB also will begin monitoring those agen- If Mitt Romney wins, however, the Bureau cies that work with the Education Department could face new headwinds. The Republican on overdue student loans, of which more than nominee has made his disapproval for the $850 billion are outstanding. Debt collection CFPB and the Dodd-Frank Act that created it companies are understandably unhappy about abundantly clear. His argument against the this development, and claim that the rise in for- Bureau asserts that the actions of the CFPB are mal complaints against them is due to greater strangling our country’s economic recovery ease of reporting online. Recently, the Bureau by restricting credit and lending, and that the has also focused largely on overseeing credit Bureau has too much power and is protected10 11
  7. 7. Weekly “ Investors in financial services companies should take note of these developments because they will significantly affect the industry." Social Media Influence with Fay Feeney from Congressional oversight (it gets its fund- Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I ing from the Federal Reserve). wrote this article myself, and it expresses my own opinions. Romney proposes to revise or repeal Dodd-Frank, I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in saying the legislation has “gone beyond what was this article. appropriate.” Moreover, Romney’s running mate, Paul Ryan, led the House Financial Services Com- Kathleen Wailes is a Senior Vice President & Chair, Financial Communications Practice at LEVICK and a contributing mittee when it proposed to cut the CFPB’s 2013 author at Seeking Alpha. budget by more than half. Despite his party’s opposition, many analysts believe Romney has Kate D’Amico is a Corporate & Public Affairs Fellow at LEVICK. bigger fish to fry―i.e., jobs, healthcare, reducing the deficit―and that restricting the CFPB may not In this LEVICK Daily video interview, Fay Feeney, CEO of Risk for Good, discusses the critical issues be high on his to-do list. at the crossroads of social media and corporate outreach. Consumer-to-consumer communications Like many other issues, the two candidates - facilitated by social networking are impacting purchasing decisions like never before. Companies and their respective parties―don’t see eye to must identify ways to influence conversations they simply cannot control. eye when it comes to the CFPB. Come Novem- ber 6, the CFPB may find itself with a clear path forward, sharp curtailment of its power, or the end of the line. Investors in financial services companies should take note of these develop- ments because they will significantly affect the industry. L12
  8. 8. decision 2012 I In the wake of Mitt Romney’s loss last sonal computers, laptops, tablets, and perhaps week, big Republican donors are won- even mobile phones. Consider that Sharp has dering why they saw little to no return “material doubts” about the future of its busi- on the billion dollars they invested ness; that Panasonic has reported an $8 billion during the 2012 election cycle. The an- loss for the first half of this fiscal year; and that It Was About swer not only provides insight into President Obama’s victories in key swing states such as Ohio, Pennsylvania, Florida, and Virginia; it’s media buying networks have slashed their TV advertising revenue growth forecasts. Those indicators alone should have given pause to the Technology, an omen that foreshadows the future of media utility in an era where familiarity, credibility, and the ability to forge personal connections any campaign that put all of its eggs in the TV basket. The fact that 2.7 million people viewed President Obama’s “You Didn’t Build That” Stupid trump traditional advertising at every turn. To be clear, the professionals running the Rom- ney campaign are far more adept than my head- comment on YouTube ought to do the same moving forward. Then, there is the DVR technology that is now Richard S. Levick, Esq. line might infer. But they did make one crucial a staple in the majority of voting households. Originally Published on Fastcompany.com mistake in underestimating how technology has What good is a TV ad blitz when even those fundamentally changed voter outreach. that comprise TV’s declining audience can simply record their favorite shows and fast- For instance, take Karl Rove’s super PAC forward past the deluge of political messaging? American Crossroads. It spent $180 million on television advertising alone. That media buy Second is the polarization of the electorate. represents only a drop in the bucket when we Exit poll analysts are reporting that as many as consider the fortune that the Romney campaign 91 percent of voters made up their minds well and independent Republican groups spent on in advance of the campaign’s final days. If that TV. Twenty years ago, that spending advantage figure holds up, it means only nine percent would have likely had a tremendous impact on of voters were susceptible to the influence- electoral outcomes. Today, however, three fac- oriented TV advertising that made up the lion’s tors have converged that significantly diminish share of Republican resource allocation in the the air war’s effect. As a result, studies show campaign’s final month. that groups such as Rove’s saw only a one per- That’s an important audience to be sure; but as cent return on their investment. the Obama campaign amply demonstrated, the The first factor is the general decline of TV. last days of a polarized presidential campaign Republicans pinned their hopes to the TV at a are more about action than influence, as the time when it is falling to at least fourth place need to ensure that solid supporters actually in the small screen hierarchy—behind per- get to the polls trumps all other considerations.014 15
  9. 9. Weekly Mr. Fenn shares an anecdote that is particu- it comes from a family member, friend, or ac- larly telling. “For instance, Obama supporters quaintance who is depending on you to make could download a mobile application in the a responsible decision. That kind of outreach final weeks of the campaign that enabled them infuses emotion into the equation—and it’s to reach out to Facebook friends in swing emotion, not logic, that ultimately gets a voter to states to ensure they got to the polls. The the polls—or a consumer to the point of sale. Voters weren’t just being contacted by campaign personnel; they were being influenced by their friends. In the end, that made all the difference in getting out the vote and aptly demonstrated the declining value of traditional advertising. We will no doubt see more political TV adver- campaign found that when five of a poten- tising in the future, for no other reason than tial voter’s friends reached out, that poten- that campaigns feel they need to do it to run As we will see below, TV may influence, but works are those that achieve the dual goals of tial voter was transformed into a real voter a truly credible and authoritative campaign. other media are far more effective when it influence and action simultaneously. Insights because he or she was contacted by someone But as TV plays a smaller role in our lives and comes time to translate influence into action. provided by Democratic media strategist Peter familiar, rather than via TV or an anonymous social media continue to redefine the ways that Fenn for a recent Election Edition of LEVICK email address.” Third, and most important, is the ascendency credibility and authority are both communi- Weekly illustrate the point. of social media. In 2008, we learned about its Simply put, Mr. Fenn’s outlook crystalizes the cated and perceived, we will no doubt see less importance. In 2012, we bore witness to its “The Obama Campaign did a tremendous job wisdom that, today, the messenger is just as and less of it in 2014, 2016, and every election dominance. Today’s voters are flocking to social of leveraging social media to connect with vot- important as the message itself. Mass com- to come. media in droves because they provide a more ers in ways that were genuine, authentic, and munications may be expansive in reach; but If there is one lesson that the business commu- personalized and controlled political messaging exceedingly likely to establish strong personal they are often too easily ignored because the nity should take to heart from the 2012 presiden- experience. Voters no longer have to settle for relationships,” says Mr. Fenn, who heads up audience has no skin in the game. There is no tial election, it’s that they might be very wise to static, one-way communications from sources Fenn Communications Group, a political media feeling that the message is intended solely for follow suit. After all, consumers are consumers— they don’t know and don’t implicitly trust. operation that has advised more than 300 the recipient. As such, the audience is cloaked whether they are considering questions of public national, statewide, and local campaigns. “Vot- in a form of anonymity that creates no real They now have the freedom to engage in two-way policy or which products are most deserving of ers weren’t just being contacted by campaign consequences for inaction. conversations with familiar and credible connec- their hard-earned dollars. L personnel; they were being influenced by their tions that share their unique points of view and Conversely, there is no ignoring the intensely friends. In the end, that made all the difference Richard S. Levick, Esq., President and CEO of LEVICK, repre- outlooks on life—whatever they may be. personal, micro-targeted messages that social sents countries and companies in the highest-stakes global in getting out the vote and aptly demonstrated media facilitate. There is no question that the communications matters—from the Wall Street crisis and the As a result, campaigns that dominate the the declining value of traditional advertising.” message is meant just for the recipient, and Gulf oil spill to Guantanamo Bay and the Catholic Church. ground war fought primarily on social net-16 17
  10. 10. n a noted move towards corpo- boards in many countries, with nearly all listed I rate transparency, a recent study group of public company direc- tors and a few academics identi- companies in Canada, France, the U.K., and the U.S. conducting some sort of evaluation each year. The practice is also widespread in Italy fied seven gaps on their own board room turf: and Spain, and is gaining attention in many purpose, culture, leadership, information, Asia-Pacific markets. Even if a company is not advice, debate, and self-renewal. The report subject to any listing requirements, sharehold- goes on to state boards should “develop poli- ers and stakeholders are asking questions and cies and practices to ensure ongoing evalua- evaluating the company as though it is subject tion and education of current directors, using to the same requirements. Shareholders, com- the services of independent third-party facili- munity, and employees are expecting and even tators when needed.” With this focus in mind, presuming the board is using an objective ap- corporate counsel can provide guidance for proach to hold themselves and the company to boards desiring a more robust board evalua- the “best business practices.” tion process. Key Point: The progressive board looks for the Fundamentally, a board evaluation is an op- time and resources spent on board evaluation to portunity for boards as a collective body to align with their philosophy of continuous im- increase their effectiveness based on feedback provement and reflective intelligence. the evaluation provides. Continuous improve- At the very least, a board evaluation will ment and development of board and board focus on key functions of the board, provide committee processes and procedures is key to a “gap” analysis that draws weak areas to the ensuring board effectiveness. In today’s world, surface, provide disbursement of responses, it is vital that a board of directors can measure and identify the “tone” of the responses. Board its strengths and its opportunities for improve- evaluation is most meaningful as a produc- ment. Board evaluation sets the foundation tive activity for the board when it focuses on to purposefully identify and surmount barri- board development rather than compliance. ers that impede effectiveness. The goal is to This requires knowledge not only of board receive solid, actionable input.Board Evaluations functions, roles, and responsibilities, but also In addition, it is a NYSE listing requirement how all this information links to the current that boards, along with their nominating/ business/industry trends and market changes.Getting it Right governance, compensation, and audit com- In addition, a dynamic board evaluation moves mittees, perform annual evaluations. NASDAQ the board to a higher level of performance on highly recommends board evaluation. Annual business issues while enhancing group dynam- board evaluations have become the norm for ics. Overall, a board evaluation can transformTracy E. Houston, M.A.,President of Board Resources Services, LLC 19
  11. 11. Weekly a group of strong individuals to a collective one of the committees, to become more familiar body of focused board members who become with the consultant and process. After a trust Risks of Engaging in a Board Evaluation invaluable to the CEO, senior management level is established, the board can increase the team, and all stakeholders. A skillful board engagement level. Some examples of risks that I have seen from board evaluations, and ways to alleviate evaluation can cause directors to say “I’m glad A board may not need a consultant for every those risks, include: we did that.” This kind of skillful evaluation is annual evaluation, or while the board’s agreed- Risk: Consultant misuse of data. produced from: upon action items from previous board evalua- Remedy: Ask how and where data is stored, and for how long. If answers are unacceptable, • Clear board objectives; tions are still in process. The board would prob- consider using the third-party facilitator just to analyze data and provide feedback. ably not use a facilitator when the board chair Risk: Loss of collegiality and negativity as a result of candidate feedback. • Reports and feedback from a knowledge- has only been in the position for a short period Remedy Review the past methods of board evaluation and assess the level of feedback able third-party facilitator where needed; of time, or when the board has just recruited, given to the board. Consider a hybrid methodology that includes a questionnaire • Facilitated follow-up discussions with the or is in the process of recruiting, a number of accompanied by a self-evaluation for each director. board to identify board development actions; new directors. Risk: Directors’ perception of performance is not in line with evidence that suggests otherwise. • Integration of the board evaluation into To choose the right methodology and provide Remedy Consider hiring a third-party facilitator to provide feedback and possible coaching sessions with the board. strategic leadership and planning; and a balanced approach, the board and corporate counsel should understand the risks and • Insights that lead to greater team rewards of a board evaluation. L effectiveness. For more information and/or studies with board evaluation Rewards of Engaging in a Board Evaluation data, see: Deciding Whether to Use a Third Board Evaluation: Creating Strategic Performance and Party Facilitator Effectiveness Examples of rewards that I have seen from board evaluations include: As the board embarks on the evaluation pro- • Provides a timely platform for directors to voluntarily resign, and sharpens the Tracy E. Houston, M.A., is the President of Board Resources cess, it is important to decide whether to use a discussion of the experience, expertise, diversity, independence, leadership ability and Services, LLC. She is a refined specialist in board of directors character needed by the new directors; third party facilitator. Employing a third-party consulting and executive leadership with a heartfelt passion consultant usually allows for greater objectiv- for rethinking performance, teams, and the boardroom. She • Identification of new or refined actions for risk reporting to the board, including crisis ity and credibility, not least as a means of satis- is the creator of the only digital series for corporate gover- and reputational management; nance—Board Guru™ eBooks. fying shareholders that an independent review • Clarity and enhancement of management reporting practices that affect the board; and has been carried out. The board can choose • Enhanced board effectiveness with identification of board dynamics and facilitation of the level and the areas of engagement for any discussion to ‘clear the air.’ board consultant. At times the third-party In today’s world, corporations are establishing processes that have an emphasis on collective facilitator may only help with question de- wisdom for competitive advantage. This concept can be actualized at the board level through velopment, or simply analyze the data, or the the board evaluation process, even though evaluation techniques are still in their infancy. The process can result in high-level thinking in a structured, organized manner, and lay the facilitator may be assigned to run all aspects foundation for continuous improvement. of the board evaluation. The board may want to start with a small project, such as evaluating20 21
  12. 12. WeeklyNACD BoardVision: Tone at the Top Reputation, Stock Price, and You: Why the Market Rewards Some Companies and Punishes Others by Dr. Nir Kossovsky/ApressIn this episode of BoardVision, shot on location at the 2012 NACD Board Leadership Conference,we discuss how boards can ensure that company leadership sets the right tone at the top. JoinPeter Gleason, Managing Director and CFO at the National Association of Corporate Directors,and Mary Ann Cloyd, a Leader in the PwC Center for Board Governance, for an examinationof the ways that directors and executives can align their internal communications with theorganization’s culture, purpose, and mission. Click here to Order now!
  13. 13. the Future of Financial Communications with Candi Wolff BLOGS worth following Thought leaders Industry blogs Amber Naslund Holmes Report brasstackthinking.com holmesreport.com Amber Naslund is a coauthor of The Now Revolution. A source of news, knowledge, and career The book discusses the impact of the social web information for public relations professionals. and how businesses need to “adapt to the new era of instantaneous business. NACD Blog blog.nacdonline.org Brian Halligan The National Association of Corporate Directors hubspot.com/company/management/brian-halligan (NACD) blog provides insight on corporate HubSpot CEO and Founder. governanceand leading board practices. Chris Brogan PR Week Chrisbrogan.com prweekus.com Chris Brogan is an American author, journalist, PRWeek is a vital part of the PR and communications marketing consultant, and frequent speaker about industries in the US, providing timely news, reviews, social media marketing. profiles, techniques, and ground-breaking research. David Meerman Scott PR Daily News davidmeermanscott.com prdaily.com David Meerman Scott is an American online PR Daily provides public relations professionals, marketing strategist, and author of several books social media specialists and marketing on marketing, most notably The New Rules of communicators with a daily news feed. Marketing and PR with over 250,000 copies in print in more than 25 languages. In this LEVICK Daily video interview, we discuss the future of financial communications with Candi Wolff, Executive Vice President for Global Government Affairs with Citi. From the trust Guy Kawasaki BUSINESS Related guykawasaki.com FastCompany deficit to the sea change called Dodd-Frank, financial service providers are persistently challenged Guy Kawasaki is a Silicon Valley venture capitalist, fastcompany.com to maintain positive client relationships. Those institutions that keep a keen eye on compliance bestselling author, and Apple Fellow. He was one Fast Company is the world’s leading progressive of the Apple employees originally responsible for business media brand, with a unique editorial will ultimately restore confidence. marketing the Macintosh in 1984. focus on business, design, and technology. Jay Baer Forbes jaybaer.com Forbes.com Jay Baer is coauthor of, “The Now Revolution: 7 Forbes is a leading source for reliable business Shifts to Make Your Business Faster, Smarter and news and financial information for the Worlds More Social. business leaders.Financial Communications Rachel Botsman rachelbotsman.com Mashable mashable.comLitigation Rachel Botsman is a social innovator who writes, consults and speaks on the power of collaboration Social Media news blog covering cool new websites and social networks.Corporate & Reputation and sharing through network technologies.Public Affairs Seth Godin sethgodin.typepad.comCrisis Seth Godin is an American entrepreneur, author and public speaker. Godin popularized the topic of permission marketing. Sign Up Today
  14. 14. IN THE NEWS ArticlesThe Daily Beast | November 14, 2012Crisis-Management Experts Weigh In on How to Handle Petraeus ScandalNonprofit Quarterly | November 14, 2012Komen’s Continuing Saga: What Should It Do Now?FCS Interactive | November 14, 2012Leading Experts Discuss the Future of Financial Communications - Highlights from FCS Luncheonin Washington, DC with Citi, GE Capital, LEVICK, T. Rowe PriceMashable | November 14, 2012Macy’s Twitter and Facebook Pages Overrun With Anti-Trump CommentsBuisness 2 Community | November 11, 2012Interview with Crisis Communications Expert Richard Levick – Part 2 THE URGENCY OF NOW.

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