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Who is Happiest With The Facebook Debacle?

Now that most of the breaking news is about Facebook, Nasdaq and Morgan Stanley, the heat has come off of JPMorgan. At least from a press perspective things have likely quieted down for Mr. Dimon and his communications team.  I am sure it is a welcome break to get off the front page, for now at least.  This is a good opportunity for them to have a breather, even though it will be a brief one. Plus, they can relish the fact that Mr. Dimon has been named one of the best-dressed CEOs, according to CNBC.

Or is the happier party NYSE Euronext? They suffered a blow when they lost the Facebook IPO after successfully listing other tech-based firms including LinkedIn and Pandora.  But now they can jump on this opportunity get Facebook back in their corner as well as sway other firms that may have been on the fence about where to list their IPO.

Not all bad news is bad for everyone.

NASDAQ. WOW.

I believe that I speak for many of my peers when I say that watching the swirl of media around Nasdaq OMX’s handling of the Facebook IPO is cringe inducing.  Let’s be clear, this is obviously a mess created by the business not the poor pr folks trying to put out the press fires.

I apologize in advance for this awful comparison. The Facebook IPO was about seamless as Kim Kardashian’s marriage.  A lot of hype, a lot of money, a lot of press coverage, and apparently a lot less rehearsal and preparation than needed. It appears that neither was fully prepared for the speed bumps ahead.

Nasdaq seems to be making a lot of enemies right now.  This event was supposed to earn back its credibility and make it some new “friends” along the way.  But now everyone is coming out swinging against Nasdaq. Knight Capital’s CEO Thomas Joyce told CNBC that he dubbed the fiasco “the worst performance by an exchange on an IPO, ever.” EVER!

On Monday, The Wall Street Journal added insult to injury by outlining all of the crises that have occurred in the past 18 months under Bob Greifeld’s watch.  That paragraph alone likely caused the most angst for Nasdaq and its press handlers.  And today, the New York Post rubbed it in a little more by featuring an eleven-year old whose highly anticipated Facebook stock purchase is still in limbo.  It’s never good for any firm to have an eleven-year old victim. Ouch.

So what is a pr and communications team to do? Get ahead of the problem when possible.  Make sure that all hands are on deck during any large event. Second, decide early on how to best handle potential pitfalls.  Nasdaq’s initial response to the press was to decline comment and avoid any press questions on Friday. The press and the public do not expect to have all of their questions answered during such frenzy but they expect something beyond a no comment.  There was obviously a problem at Nasdaq.  How about “We are addressing the issues and when we have definitive answers, we will communicate them.”   It wasn’t until two days later that reporters were given any answers. That was a lot of time for others to fill the gap of silence.  And finally, be sure that you loop in industry observers who can speak positively about your organization.

We can safely assume that the executives at the New York Stock Exchange are closely watching the press coverage.  They are likely confident that they would have handled the Facebook IPO better than Nasdaq.   Well, based on the bungling of this latest IPO, I think the NYSE has a pretty good shot of winning its next pitch.

Praise for Dimon’s Mea Culpa Strategy

Praise for Dimon’s Mea Culpa Strategy

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NEW YORK, May, 18 2012 (Bloomberg) -- One veteran Wall Street message maker has something for Jamie Dimon may be short on these days: a compliment. Melissa Daly, who worked at Goldman Sachs and merger specialist Brunswick Group and now runs the eponymous MFD Communications, says she’s a fan of the under-siege bank chief’s strategy of mea culpa on overdrive.

“The easiest thing to do right now would be to hunker down, keep journalists at arm’s length and decline to comment,” Daly wrote on her blog today in a regular commentary called, naturally, “The Daly Dose.” “It’s commendable that the executives at JPM appear to want to set the record straight, admit to faults, show their pain and demonstrate that they are not infallible.”

Pressed for more, Daly offered that a key point in fighting off the Dimonfreude engulfing Wall Street and the Beltway last week was reshooting the “Meet the Press” interview to answer questions about the $2 billion loss. “He wasn’t arrogant,” Daly said. “He was eating humble pie in front of Washington, and in the public eye.” Read More: http://go.bloomberg.com/political-capital/2012-05-18/praise-for-dimons-mea-culpa-strategy/

JPM Handling PR the Right Way

THE DALY DOSE

JPM IS HANDLING THEIR PUBLIC RELATIONS ISSUES THE RIGHT WAY

It’s obvious that JPMorgan is dealing with a PR nightmare right now.  In these situations, it’s very easy to criticize their handling of a $2 billion trading loss.  But JPM is doing a great job of owning up to its problems, communicating what went wrong and the steps that they are taking to address them.  Lifting their veil to show vulnerability and humanity is gutsy and will pay off in the long run.  The public and government officials do not want to see arrogance or a lack of accountability.

The easiest thing to do right now would be to hunker down, keep journalists at arm’s length and decline to comment.  It’s commendable that the executives at JPM appear to want to set the record straight, admit to faults, show their pain and demonstrate that they are not infallible.

JPM is telling their story before others can tell it for them.  It would appear that they are actively engaging with journalists to help them understand the problems and potential solutions. If the execs at JPM decided to bury their heads, journalists would be left with no alternative other than to speak with outsiders.  Those outsiders can only guess about what is going on in the JPM war room and they have little to lose by criticizing JPM either as a named source or industry insider.

No business is perfect and every organization has the potential to have something or someone derail which could jeopardize a brand. It’s the handling of a crisis that shows the true strength and grit of a firm and its people.

Was That Question Really Such a Surprise?

Last week on a local New York sports radio program, Jets Cornerback Darrelle Revis and his public relations representative abruptly ended a phone interview because the conversation became heated.  This incident was reminiscent of former US Senate candidate Christine O’Donnell walking off the set of Piers Morgan because she was unhappy with the line of questioning. And in April, RIM co-CEO ended an interview with BBC because of a line of questioning around Blackberry’s security issues in the Middle East.

Google the phrase “abruptly ended interview” and you will see over 2.7 million results. I didn’t check each story but a scan of pages reveals that politicians, professional sports players, reality stars and actors do it. But business executives do it too.

When an interview is ended prematurely, the interview itself becomes the story, not the content that the person being interviewed originally intended to deliver.  Of course, this is never ideal for either the interviewer or the interviewee.  The only resulting benefit appears to be providing fodder for those who wish to slam the individual who just ended that interview.

Agreeing to a media appearance means that you have made the decision to take the time out of your day to share something with the public.  Abruptly ending that interview tells the world that you appear to be hiding something.  Or, that you simply did not put in the necessary time and effort to prepare for the interview.

There are some basic rules that govern every media interview.   Agreeing to be interviewed gives the journalist the understanding that you will, at the very least, acknowledge their questions and will sit through the entire conversation.   As the person being interviewed, you should presume that you will be asked questions that you do not want to answer.   Just because you do not prepare for the tough questions, does not mean that you will not be asked the tough questions.

So what do you do?

Before every press interview, you must first anticipate what the questions will be.  That information is generally not gleaned from asking the reporter in advance what the questions will be.  You will get that information by looking at what others are saying about you, your firm or your industry.  Also consider topics that you have discussed both privately and publicly which may be considered fair game.  Know what the sensitive issues are and develop and rehearse the appropriate responses.

Understand that you do not have to respond to every question the precise way the journalist wants you to, but you should show enough respect to the audience and the reporter and have an answer that you are comfortable with, then address the question and move on.

In order to have a successful media interview, it’s important to know what the difficult issues are, develop the right messaging and responses to provide accurate information. In some cases, you may simply not be able to respond for legal, privacy or regulatory reasons. When that is the case, simply say that you cannot, or are not in a position to, answer a question because of legal, privacy or regulatory reasons.

Press interviews are not always going to be perfect for either the reporter or you. But the right preparation will improve your chances.

Melissa F Daly is the founder of MFD Communications LLC, a New York based media training and consulting firm. MFD Communications offers an approach to media and presentation training that is custom tailored to each individual and format that will be most useful. Melissa started the firm to help those who don't want an off-the-shelf approach. With 15 years of experience preparing executives to present to external and internal audiences, handle press interviews or prepare for critical business pitches, Melissa understands that a customized and personalized approach is the most effective and rewarding.  For more information, please visit: keymessagedevelopment.com. 

Ex-Goldman Sachs VP launches MFD Communications

Ex-Goldman Sachs VP launches MFD Communications

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NEW YORK: Melissa Daly, former VP of corporate communications at Goldman Sachs, has launched MFD Communications, a media and presentation training and consulting firm.
MFD will offer training sessions on how the print and broadcast press works, as well as how to manage relationships with journalists. The firm will also provide counsel on presentation and on-camera skills.

Besides working at Goldman Sachs for three years, Daly was a director at Brunswick, where she managed communications for hedge funds, private equity, insurance, and traditional asset management firms in the US. She has also worked in various communications and media relations roles at Fred Alger Management, The Hartford and Lipper.

Read More: http://www.prweekus.com/ex-goldman-sachs-vp-launches-mfd-communications/article/213051/

Goldman Veteran Daly Launches Media Training Firm

Goldman Veteran Daly Launches Media Training Firm

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NEW YORK—Financial public relations veteran Melissa Daly has left her position as vice president of corporate communications at Goldman Sachs to launch MFD Communications, a media and presentation training and consulting firm.

MFD will specialize in developing, refining, and delivering key messages through media, client presentations and materials. According to Daly, the firm specializes in “capturing what needs to be communicated” and on refining that message “so it is easier to understand, quotable and ultimately more impactful.”

Read full article: http://www.holmesreport.com/news-info/10980/Goldman-Veteran-Daly-Launches-Media-Training-Firm.aspx