Monday, October 06, 2008
Do these people never learn?
On the day the news was announcing the failure of Washington Mutual, I got a "pre-approved" credit application from them in the mail. Then I went out of town for a couple of days.
On Saturday, October 4th, we received a highly misleading offer to refinance our mortgage. It was worded like it came from our present mortgage holder, with the disclaimer in tiny print at the bottom; it was worded to make us think we would lose our loan if we didn't refi with them. We've probably gotten these before but usually I throw them out without opening them. I was curious this time because of the timing.This one was dated September 30th.
On another (related) subject, Jon Greer writes an insightful column on BNET.com for public relations professionals:
By Jon Greer
October 3rd, 2008 @ 10:35 am
The New York Stock Exchange has long stood as the ultimate symbol of American capitalism. So the act of ringing the bell on the platform above the floor has long been a cherished PR photo op for CEOs, visiting dignitaries, celebrities, and other attention-seekers. The unmistakable message these bell ringers were sending: I’m a big fan of American capitalism!
So, in another symbolic sign of the times, the Big Board is having a bit harder time recruiting bell ringers, reports the New York Times:
“Right now, it can be a little bit like being asked to blow the foghorn on the Titanic,” said Jim Haggerty, chief executive of the PR Consulting Group, which advises companies on communications strategies.
For its part, the NYSE denies that it’s having a problem finding ringers:
“There is huge demand to ring the N.Y.S.E. opening and closing bells, and those people and organizations who participate are respectful of both the global recognition in doing so and prevailing market conditions,” said Richard Adamonis, a spokesman for the exchange.
Nevertheless, even the fact that this story is being reported is proof-positive of the mood change that is rocketing through society, with major repercussions on PR and marketing messaging and strategies.
In fact, I’ve been surprised to see continued financial services ads on TV touting the same message as before The Meltdown. I doubt that these messages are having much of an effect, beyond sending the “pulse” message (we still have a pulse). Over time, I expect these messages and strategies to change, though how, I’m not sure, since this crisis is far from over.
On Saturday, October 4th, we received a highly misleading offer to refinance our mortgage. It was worded like it came from our present mortgage holder, with the disclaimer in tiny print at the bottom; it was worded to make us think we would lose our loan if we didn't refi with them. We've probably gotten these before but usually I throw them out without opening them. I was curious this time because of the timing.This one was dated September 30th.
On another (related) subject, Jon Greer writes an insightful column on BNET.com for public relations professionals:
Ding-Dong! NYSE Needs Bell Ringers
By Jon Greer
October 3rd, 2008 @ 10:35 am
The New York Stock Exchange has long stood as the ultimate symbol of American capitalism. So the act of ringing the bell on the platform above the floor has long been a cherished PR photo op for CEOs, visiting dignitaries, celebrities, and other attention-seekers. The unmistakable message these bell ringers were sending: I’m a big fan of American capitalism!
So, in another symbolic sign of the times, the Big Board is having a bit harder time recruiting bell ringers, reports the New York Times:
“Right now, it can be a little bit like being asked to blow the foghorn on the Titanic,” said Jim Haggerty, chief executive of the PR Consulting Group, which advises companies on communications strategies.
For its part, the NYSE denies that it’s having a problem finding ringers:
“There is huge demand to ring the N.Y.S.E. opening and closing bells, and those people and organizations who participate are respectful of both the global recognition in doing so and prevailing market conditions,” said Richard Adamonis, a spokesman for the exchange.
Nevertheless, even the fact that this story is being reported is proof-positive of the mood change that is rocketing through society, with major repercussions on PR and marketing messaging and strategies.
In fact, I’ve been surprised to see continued financial services ads on TV touting the same message as before The Meltdown. I doubt that these messages are having much of an effect, beyond sending the “pulse” message (we still have a pulse). Over time, I expect these messages and strategies to change, though how, I’m not sure, since this crisis is far from over.
Labels: credit, loans, mortgages, Wall Street, WaMu
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It's hard to find people who can play taps on the bugle , too-we need buglers for the holidays; Memorial day, Veteran's day, 4th of July...these dying arts...
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