In Case of Emergency: What Not to Do

[groovedaddy]

WHOEVER suggested that all publicity is good publicity clearly never envisioned the wave of catastrophe engulfing high-profile corporations over the last year, laying waste to some of the most meticulously tailored reputations on earth.

Toyota, celebrated for engineering cars so utterly reliable that they seemed boring, endured revelations that its most popular models sometimes accelerated for mysterious reasons. The energy giant BP, which once packaged itself as an environmental visionary, now confronts the future with a new identity: progenitor of the worst oil spill in American history. And the Wall Street icon Goldman Sachs, an elite player in the white-collar-and-suspenders set, found itself derided in Rolling Stone as “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” Last month, Goldman agreed to pay $550 million to settle federal securities fraud charges.

“These were real reputational implosions,” says Howard Rubenstein, the public relations luminary who represents the New York Yankees and the News Corporation. “In all three cases, the companies found themselves under attack over the very traits that were central to their strong global brands and corporate identities.”

Image implosions, of course, haven’t been confined to the business world. The basketball wizard LeBron James found himself scorned as a narcissist after his nationally televised abandonment of Cleveland. Taped conversations of the Hollywood star Mel Gibson with his former girlfriend have secured him seemingly permanent billing as The Worst Guy Ever.

http://www.nytimes.com/2010/08/22/business/22crisis.html?th&emc=th

[ljm2002]

1. I love that they used Matt Taibbi's description of Goldman Sachs...

...as "a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."

It's one for the ages.