Thursday, December 11, 2003

... I Think Very Deeply

My Philosophy, Boogie Down Productions. You must love KRS-One, a master that speaks the truth.

I know that PR Opinions, among others, have written about this issue, but my opinion is a little bit different than theirs and wanted to throw it out there.

I believe that the hidden Weekend / Holiday press release is a good thing. Granted, this is just one person's thoughts, but let me explain my reasoning.

First, a company's responsibility is to the shareholder. Hiding the news means that there won't be a massive sell-off of shares. It's a form of crisis communications, and truth be told, if the shareholder is a responsible shareholder, he/she should invest a little time in keeping abreast to what is happening with the company, and make an informed decision whether or not to sell or to weather the storm.

As an aside, I guess asking investors to actually look into their stock purchases is too much - a few weeks ago, there was an article by Reuters about Nanometrics' stock doing quite well because people thought they did work in ... nanotechnology. What does Nanometrics do? Nanometrics Incorporated designs, manufactures, markets and support the thin film metrology systems for the semiconductor, flat panel display and magnetic recording head industries. Classic.

Second, as for late-night releases, unfortunately sometimes it can come down to getting approvals from 3000 people, and even though the release can get more coverage (if that's the goal) when it's released the next day, some contracts call for that day a release be issued. I came up against that before - where I wanted to hold the release for a day - but had to send out the release late in the West Coast day, so evening in the East. It wasn't what I wanted to do, we weren't hiding bad news, but the clock ran out. And, some of the PR persons in the article commented that they were up against the clock, and getting the news out as fast as possible. It's believable.

Just a few thoughts on the weekend press release and doing the holiday hideaway.
Post a Comment