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Thursday, January 3, 2013
Wednesday, January 2, 2013
The Price for Speaking Out of Turn: The impact of PR blunders on ...
Measuring the impact of PR blunders by Papa John?s, G4S, and Apple.
From mixing politics with fast food to releasing software that is widely hated, public relations disasters have significant repercussions on a company?s bottom line. Or do they? Here we take a look at three of the biggest corporate nightmares of 2012 and briefly assess their impact on stock price and reputation.
Papa John?s Obamacare Gaffe: A Flash in the (Pizza) Pan?
What happened?
Unsurprisingly, it appears that political rhetoric and the pizza business don?t mix. Such is the harsh lesson that Papa John?s CEO John Schnatter learned after he doubled down on criticism of Obamacare following the re-election of President Obama. Mr. Schnatter implied that his company would deliberately downsize worker hours in order to remain below the 30 hour mandatory threshold to provide insurance. The stance, which accompanied similar sentiments from Applebee?s franchise owner Zane Tankel, quickly did the rounds of popular online news sites.
The result?
By the time the company started to react the damage was done, with the company?s buzz on YouGov?s Brand Index survey dropping from 32 on Election Day to a dismal score of 4 three weeks later. (YouGov BrandIndex?s Buzz score asks respondents, ?If you?ve heard anything about the brand in the last two weeks, through advertising, news, or word of mouth, was it positive or negative??) Papa John?s share price dropped by over half. See the charts below.
Mr Schnatter issued a public apology and claimed his words had been twisted. He went on to clarify he was glad that healthcare insurance would be covering 100% of the population, but that all he meant was that, ?we?re all going to pay for it. There?s nothing for free?. Regardless, Papa John?s YouGov buzz score throughout November showed no sign of recovery, even as the share price bounced back.
Bottom line impact?
One is left with the feeling that while business prices can rally, reputation is far harder to regain.
YouGov BrandIndex Buzz score shows restaurants? reputation decline after anti-Obamacare statements:
Share price of Papa John?s declines then recovers after CEO?s anti-Obamacare statements:
G4S Olympic Security Failure: Losing the Race for New Business
What happened?
Last summer, things were going well for private security firm G4S. In an interview in July, Ian Horseman Sewell, Managing Director of Global Events, boasted that the security firm was ?absolutely on track to deliver? on their contract for the London Olympics, and added that, ?If there was a similar event going on in Australia, I would be bullish that we could deliver that at the same time?. He also noted that favourable media exposure could attract many more customers, but warned that ?the sensitive, high-profile nature of security meant G4S ran the risk of its image being damaged if problems occurred?.
As it turns out, he was right, but not in the way he would have hoped. Two days later the UK Sunday papers declared that the firm being paid ?300m to guard the Olympics had, ?yet to fully train or accredit thousands of security guards needed to protect the games from terrorist attack?.
The result?
The story exploded, leading the UK government to announce that it would be forced to bring in the army to cover the shortfall, in some cases with troops not long returned from Afghanistan, touching a nerve with the British papers.
Unfortunately for G4S, the story spread far beyond the British mainstream: Over subsequent days the phrase ?humiliating shambles? had to be translated into at least 30 languages for international media headlines. G4S? share price duly crumbled. Journalists also used this event to recap and dig into other controversies surrounding the company, furthering the fiasco.
As it turned out, overall security at the Olympics was effective and the stand-in troops became a surprise hit with the crowds. The media spotlight has since moved away from the tribulations of G4S, however, the firm?s reputation has yet to recover. Share price has regained some of the losses suffered, but has yet to make a full recovery.
Bottom line impact?
Perhaps the most telling effect is that the company went on to lose a contract to run Britain?s first private prison and failed to win any new contracts in the biggest round of prison privatisation in England and Wales so far. Although Prisons Minister Jeremy Wright assured newspapers that the decision was unrelated to the Olympics fiasco, most news of the matter made that connection. Not a good year for the folks at G4S.
Share price of G4S falls and slowly recovers following its Olympic security difficulties:
Apple Pays the Price of Seeming to Be Perfect: Loses its Way with Maps and Scuffgate
What happened?
The introduction of Maps, Apple?s in-house mapping system, finally severed the company?s dependence on its rival?s platform Google Maps and was originally welcomed with glee. However, a definitive PR disaster ensued when Maps? maps were found to lack accuracy and made some high-profile mistakes. It didn?t help matters that the iPhone bumped Google Maps for the defective newcomer. Given the high-profile of the launch and the internet-savvy nature of tech enthusiasts, it wasn?t long until Apple faced the full brunt of accusations that Maps was the ?worst software update in Apple?s history?.
Complaints over the new Maps app were compounded when information emerged that a high percentage of iPhone 5s were arriving with scuffing and scratches on the phone?s aluminum exterior. The problem received major media attention, prompting Apple to increase quality control in its Chinese factories and slow production. Although minor (especially considering the iPhone 4?s Antennagate debacle) this has not stopped ardent consumers from pushing Apple for a recall. Hell hath no fury like an angry fan-boy.
The result?.
Criticism of the Maps app was so endemic that Apple has taken significant steps to address it. Scott Forstall, head of the company?s mobile software division and a prot?g? of Steve Jobs, was dismissed following reports that he refused to sign a letter of apology to Apple consumers over the matter. Tim Cook, the company?s CEO, went on to sign said letter in his stead.
Apple?s share price has seen some shrinkage (see the chart below), but there are too many influences at work to pin it entirely on Maps. Some have called the stock overvalued, after more than doubling in the past year. And its price drop may be at least partly a result of less-than-expected demand for the iPhone 5 following its launch.
Bottom line impact?
Apple?s reputation and brand are extremely strong. It may, in fact, suffer from seeming to be too perfect. Although many would no doubt like to see Apple knocked off its pedestal, one bad app won?t spoil the whole Apple.
While this double PR disaster has probably provoked some consumers to consider alternatives, the iPhone 5 remains a complete success, selling over 5 million units in its first weekend in shops. Sometimes it?s heartening for the big guy to show some flaws, apparently.
Decline of Apple share price following Maps app problems:
Lucas
Source: http://www.reportinternational.com/2013/01/the-price-for-speaking-out-of-turn/
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Markets rally after US 'fiscal cliff' deal
Philippine Stock Exchange President and CEO Hans Sicat, second from right, gestures as PSE treasurer Ma. Vivian Yuchengco rings the bell to signal the start of the first day of trading at Philippine Stock Exchange at the financial district of Makati, south of Manila, Philippines on Wednesday Jan. 2, 2013. Stock markets in Asia registered relief Wednesday over the U.S. congressional vote to stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world's biggest economy into recession. (AP Photo/Aaron Favila)
Philippine Stock Exchange President and CEO Hans Sicat, second from right, gestures as PSE treasurer Ma. Vivian Yuchengco rings the bell to signal the start of the first day of trading at Philippine Stock Exchange at the financial district of Makati, south of Manila, Philippines on Wednesday Jan. 2, 2013. Stock markets in Asia registered relief Wednesday over the U.S. congressional vote to stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world's biggest economy into recession. (AP Photo/Aaron Favila)
South Korean dancers in traditional costumes beat their drums during opening ceremony of the Year 2013 trading outside the Seoul Stock Exchange Tuesday, Jan. 2, 2013. The benchmark Korea Composite Stock Price Index (KOSPI) started up 16.69 points, or 0.84 percent, at 2, 013.74. (AP Photo/Ahn Young-joon)
Staff members of the Korea Stock Exchange Market salute to the national flag during the opening ceremony to commence the Year 2013 trading at the Seoul Stock Exchange Tuesday, Jan. 2, 2013. The benchmark Korea Composite Stock Price Index (KOSPI) started up 16.69 points, or 0.84 percent, at 2, 013.74.(AP Photo/Ahn Young-joon)
A Filipino trader blows a horn during the first day of trading at Philippine Stock Exchange at the financial district of Makati, south of Manila, Philippines on Wednesday Jan. 2, 2013. Stock markets in Asia registered relief Wednesday over the U.S. congressional vote to stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world's biggest economy into recession. (AP Photo/Aaron Favila)
LONDON (AP) ? Markets breathed a huge sigh of relief Wednesday that U.S. lawmakers agreed on a budget deal that will stop hundreds of billions of dollars in automatic tax increases and spending cuts that risked plunging the world's biggest economy into recession.
Stocks around the world started 2013 with hefty gains as investors welcomed the vote in the House of Representatives that made sure that the U.S. does not go over the so-called "fiscal cliff." Though longer-term fiscal problems remain and President Barack Obama will likely face more battles with the Republican-dominated House, investors were relieved that the biggest near-term stumbling block to the world economy has been cleared.
"Investors are trading with a sense of relief after lawmakers in Washington agreed on a compromise to avoid the fiscal cliff that has been the dominant theme in equity markets since the Presidential elections back in November," said Mike McCudden, head of derivatives at stockbroker Interactive Investor.
In Europe, the FTSE 100 index of leading British shares jumped 2.2 percent to 6,028, its first foray above the 6,000 mark since July 2011. The CAC-40 in France rose 2.4 percent to 3,729 while Germany's DAX was up 2.3 percent at 7,786.
Earlier, in Asia, Hong Kong's Hang Seng index shot up 2.9 percent to close at 23,311.89, its highest finish since June 1, 2011. Australia's S&P/ASX 200 surged 1.2 percent to close at 4,705.90, its best finish in 19 months while South Korea's Kospi jumped 1.7 percent to 2,031.10.
Wall Street was likewise set to rally on the open ? Dow futures were up 1.3 percent at 13,195 while the broader S&P 500 futures jumped 1.5 percent to 1,441.
The "fiscal cliff" deal is likely to remain the focus of attention in financial markets over the rest of the day.
The bill that Congress approved calls for higher taxes on incomes over $400,000 for individuals and $450,000 for couples, a victory for Obama. Earnings above those amounts would be taxed at a rate of 39.6 percent, up from the current 35 percent. It also delays for two months $109 billion worth of across-the-board spending cuts that had been set to start affecting the Pentagon and domestic agencies this week.
If lawmakers had not agreed by the Jan. 1, 2013 deadline on the new budget measures, more than $500 billion in tax increases would have hit the economy in 2013 alone. Government spending worth $109 billion would have been cut from the military and domestic spending programs.
Though fears over an imminent fall off the "fiscal cliff" have eased, investors still have a host of issues to worry about ? not least the prospect of more debates over unresolved longer-term U.S. budget issues.
"Cynics will point out that another argument has been booked in for two months' time, when the debt ceiling comes up for debate, and Republicans will be looking to make progress on the spending cuts that haven't featured in the New Year deal," said Chris Beauchamp, market analyst at IG.
Investors will also keep a close watch on any response from the credit rating agencies. After a fight in Congress to raise the debt limit in 2011, Standard & Poor's lowered the U.S. government's AAA bond rating, citing the lack of a credible plan to reduce the federal government's debt. It also voiced its concerns about the "effectiveness, stability and predictability of American policymaking."
Meanwhile, investors will be monitoring the state of the global economic recovery and Europe's ongoing battle to contain its 3-year debt crisis. A string of indicators were released on Wednesday and more are due later, including the closely-monitored monthly U.S. manufacturing survey from the Institute for Supply Management.
Figures released earlier Wednesday highlighted the scale of the downturn in the economy of the 17 European Union countries that use the euro.
The manufacturing purchasing managers' index ? a key gauge of business activity published by data information company Markit ? showed the industrial sector was mired in recession in December. The index for the eurozone fell to 46.1 from 46.3 the previous month. Anything below 50 indicates a contraction in activity.
How the European economy fares over the coming months will likely hinge on developments in the debt crisis. In the last few months of 2012, tensions eased largely in the wake of the announcement of a new bond-buying plan from the European Central Bank.
"If the second half of 2012 is anything to go by it seems that on the back of central bank action investors are presently inclined to turn a blind eye to poor news and more likely to look on the bright side of events," said Jane Foley, senior currency strategist at Rabobank International.
That has shored up the euro over the past few months and Europe's single currency eked out further gains Wednesday as investor sentiment was buoyant in the wake of the fiscal cliff deal. When investors have a propensity to take on riskier assets, the dollar often loses ground. The euro was up 0.4 percent at $1.3243.
Oil prices also pushed higher, with the benchmark New York contract up 83 cents at $92.65 a barrel.
____
Sampson contributed from Bangkok.
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Colo. theater shooting lawyers head back to court
CENTENNIAL, Colo. (AP) ? Prosecutors and defense lawyers in the Colorado theater shooting were heading back to court Wednesday in advance of a crucial hearing in the case.
State District Judge William B. Sylvester has told both sides to appear before him to make sure everything is ready for next week's preliminary hearing, when prosecutors will outline their case against the defendant, James Holmes.
At the conclusion of the preliminary hearing, Sylvester will decide if the evidence is sufficient to put Holmes on trial.
Holmes is charged with killing 12 people and wounding 70 on July 20 in a movie theater in the Denver suburb of Aurora. Prosecutors say he opened fire during a midnight showing of the Batman movie "The Dark Night Rises."
Holmes faces multiple counts of first-degree murder and attempted murder and hasn't yet entered a plea. His lawyers have said he suffers from mental illness.
The preliminary hearing, which starts Monday, will give the public its first officially sanctioned look at much of the evidence against Holmes.
Sylvester imposed a gag order shortly after Holmes' arrest barring attorneys and investigators from speaking publicly about the case, and many documents have been sealed.
The University of Colorado, where Holmes was a graduate student, has also been tight-lipped about the case.
At prosecutors' request, Sylvester barred the university from releasing records requested by numerous media organizations. Prosecutors argued that the information could jeopardize Holmes' right to a fair trial. Sylvester initially agreed but amended his order last month to allow the release after media organizations objected in court.
Holmes was enrolled in a Ph.D. neuroscience program at the university. He allegedly began stockpiling firearms and ammunition while taking classes in the spring.
In June, he made threats to a professor and on June 10 filed withdrawal papers after failing a year-end exam, prosecutors said. The next day he saw his school psychiatrist who tried to report him to a campus security committee, according to Holmes' lawyers.
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Motivation & Self-Improvement 2016: Goal Setting
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Venezuela's Chavez in stable condition, says son-in-law
CARACAS (Reuters) - Venezuelan President Hugo Chavez is in stable condition and spent Monday with his daughters, the cancer-stricken leader's son in law said in an appeal for supporters to ignore rumors about his condition.
Chavez has not been seen in public nor heard from in more than three weeks. The vice president said on Sunday that the 58-year-old was suffering a third set of complications after surgery in Cuba on December 11, his fourth operation in 18 months.
"Compatriots, DON'T believe in ill-intentioned rumors," Science Minister Jorge Arreaza, who is married to Chavez's daughter Rosa Virginia, wrote on Twitter from Havana where they have been at the former soldier's bedside.
"President Chavez spent the day quietly and stable, together with his daughters."
Chavez has not provided details of the cancer that was first diagnosed in June 2011, leading to speculation among Venezuela's 29 million people and criticism from opposition leaders.
Officials have said he suffered unexpected bleeding as result of the complex, six-hour operation on his pelvic area, and that doctors had to fight a respiratory infection, which then caused his latest setback on Sunday.
The government has repeatedly described Chavez's condition as "delicate," warning Venezuelans to prepare for difficult days ahead and urging them to pray for "el Comandante."
The main New Year's Eve party in downtown Caracas was canceled. Instead, the information minister hosted a smaller gathering which featured musicians, speeches and prayers and was dubbed "Now More Than Ever With Chavez."
The president's death or resignation due to illness would upend politics in Venezuela, where his personalized brand of oil-financed socialism has made him a hero to the poor majority but a pariah to critics who call him a dictator.
His condition is also being watched closely around Latin America, especially in other leftist-run nations such as Cuba, Ecuador and Bolivia, which depend on subsidized fuel shipments and other Venezuelan aid for their fragile economies.
'TREMENDOUS ABSENCE'
In his New Year's message, Bolivian President Evo Morales said the region's leaders were missing Chavez badly.
"We feel that there has been a tremendous absence, especially for the presidents like us who are anti-imperialist and anti-neoliberal," Morales said.
"We are convinced that with the great will of Bolivia's people, all the world's people who pray, who do rituals to Mother Earth for his health, our brother president will be there soon. This is our great wish on the last day of 2012."
Chavez is due to be sworn in again in Venezuela on January 10 after he won re-election in October. But top officials from his ruling Socialist Party (PSUV) have suggested the ceremony could be pushed back if he were unable to return.
For the opposition, any postponement would be just the latest sign that Chavez is not fit to govern and that new elections should be held to choose his replacement.
If Chavez had to step down, new elections would be called within 30 days and his newly named heir apparent, Vice President Nicolas Maduro, would be the PSUV candidate.
Maduro has tried to copy Chavez's bombastic rhetoric in speeches during the president's absence, but he has struggled to replicate Chavez's extraordinary man-of-the-people charisma.
Opposition figures believe they would have a better chance against Maduro than against the president, who for 14 years has appeared almost unbeatable at the ballot box.
Henrique Capriles, the opposition leader who was beaten by Chavez in the presidential election in October, said in a year-end message that Venezuelans needed to unite.
"Everything indicates that 2013 will be a tough year with big changes," he said. "Venezuela has learned a lot in very little time. Today we know the value of union, of agreement, of the need to find common ground and work together to achieve it."
Polls conducted before October's vote - well before Chavez named him as his successor - showed Capriles would beat Maduro.
But it could be a very different story if a new election were to be called now, with the vice president expected to be carried on a wave of emotion from distraught Chavez supporters.
As the New Year approached in Caracas, many PSUV loyalists retweeted a message that read: "In 2012 I cried with Chavez, loved with Chavez, voted for Chavez, laughed with Chavez and prayed for Chavez. In 2013, I will continue to be with Chavez."
(Additional reporting by Mario Naranjo and Deisy Buitrago in Caracas, and Daniel Ramos in La Paz; editing by Todd Eastham)
Source: http://news.yahoo.com/venezuelas-chavez-stable-condition-says-son-law-010200182.html
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