Value – Public Relations Style

November 6, 2009

It’s fitting given the economic mess of 2009 that the theme of this years International PRSA conference is “delivering value”.

Public relations practitioners have not only fought lowered budgets, slow business development, and shrinking client/prospect pools, but they have also had to do battle with social/emerging media and an entirely new way of doing business.

2009 – in no other terms – has been challenging. However, in this writers opinion there has never been a better time for companies to harness the power of trained PR professionals – pay quality people in the worst of times to do what they do best to get results.

This will be my 2nd PRSA conference and I can attest that these events offer all comers opportunities to leave San Diego with the ability to so their job better than before.

Business Wire will be there, and like the educational sessions occurring throughout the conference, we also can provide you with tools and knowledge to help you enhance your performance. From release distribution to social media trends to release optimization input and tips, we’ve got the means and the know-how to help.

It is fitting that the opening ceremonies took place on an aircraft carrier – just as it has defended the US and provided support for those in need, it now offers PR pros with a location to regroup and attack their jobs with newly learned skills and confidence.

-Malcolm Atherton, Account Executive/New Media Specialist, Business Wire Phoenix

Follow Malcolm at PRSA 09 on Twitter: @businesswire


New on Twitter: Corporate Social Responsibility News

November 6, 2009

You may have noticed a new addition to the “Follow Us on Twitter” box over at the right:  @BWCSRNews.  Anna-Christina Cabrales, our Global Disclosure & Financial Reporting specialist, will be tweeting the latest in Corporate Social Responsibility news from Business Wire as well as links to other CSR-related topics around the Web.  Make sure to follow her and keep up on everything CSR!


Social Media for IROs: Understanding the Searching and Sharing Ecosystem

November 5, 2009

NIRI Logo

Business Wire’s own Monika Maeckle, Vice President of New Media, voice of @BusinessWire on Twitter, BusinessWired blogger and occasional podcaster, recently wrote an article on social media for IROs for the NIRI’s monthly Investor Relations Update trade publication.  Her piece gives an overview of the current state of social media and what it may mean to Investor Relations professionals.  The magazine is available only to NIRI members, but they have graciously given us permission to republish Monika’s article, which you can find here on DocStoc.


XBRL Update: October 2009

November 4, 2009

On October 6, 2009, the SEC issued “Staff Observations From Review of Interactive Data Financial Statements,” identifying improvements to the quality of XBRL submissions. The Staff commented on rendering, element selection, context references, negative values and negated labels, decimals and other observations.Below, please find the items from the SEC Staff’s observations that we believe you should be aware of.

Rendering

The SEC continues to emphasize the following:

  • Filers should not deviate from the EDGAR Filer Manual rules and jeopardize the quality of their XBRL files in order to correct rendering issues.
  • There is no requirement that the rendered files appear identical to the HTML/ASCII filing.
  • Filers should expect differences between the HTML/ASCII filing and the rendered XBRL files. Some of the differences are: Formatting,  column headings such as “Unaudited” and subheadings such as “Current Assets,” totals and subtotals, and format of the shareholders’ equity statement including how certain columns and subtotals render. However, certain differences can be eliminated such as: Labels should match, abstracts for headers should be used and each footnote should be presented separately.

Element Selection
The SEC Staff has identified 12 examples of common issues and as a result, encourages filers to:

  • Carefully search through the entire taxonomy to find an element with the narrowest definition that captures all material information.
  • Be aware of elements that are industry specific.
  • Do not create an extension when a) an appropriate standard element exists, and b) representing identical concepts reported on multiple financial statements within the same submission.
  • Create extensions when a) the standard element does not adequately capture all material information, b) combining the concepts of two or more standard elements, and c) splitting two concepts in a standard element.
  • Tag all amounts appearing in parenthesis and present them separately from the face of the financial statements.

Context References
Context references allow tagged information to be understood in relation to other information presented. The SEC staff notes:

  • Filers should use the same elements for common line items but create unique contexts (dimensions) to distinguish financial information for subsidiaries, businesses and segments.
  • When reporting roll-forwards, such as the statement of shareholders’ equity, filers should use the same context reference for the beginning balance and the ending balance of the previous period.

Negative Values and Negated Labels
The standard taxonomy is designed so that the monetary amounts for most elements should be entered as positive values. Filers should properly distinguish negative values and negated labels. For example, negative values should be used to represent a loss for an element that has both a gain or loss concept. Negated labels should be used to render a balance in brackets.

Decimals
Tagged amounts should accurately reflect the rounded values reported on the financial statements.

Other Observations
Filers should provide debit/credit balance types for balance sheet and income statement monetary extensions. In instances when an extension can take a positive or negative value in different periods (most commonly on the cash flow statement), filers should either assign an appropriate balance type or provide a definition.

Filers who are not amending their XBRL filings should set the Amendment Flag to “false” and should leave the Amendment Description blank.

Filers should post their Interactive Data exhibits on their corporate website by the end of calendar day on the day of submission. Furthermore, the SEC discourages compressing the Interactive Data files in a .zip file as it may make it more difficult for the end users to access.

To learn more about Business Wire’s XBRL Services, please contact Michael Becker, Business Wire’s Vice President of Global Disclosure and Financial Reporting Services.


PR Peeps Poll: Twitter is the social medium of choice

November 3, 2009

The October PR Peeps poll results are in and it appears that Twitter is the social medium of choice for professional communicators. 

Out of 460 who answered the question, “Do you tweet, blog, neither or both?” a hefty 191 tweet, only 15 blog, 112 do neither and 140 do both.

These stats reflect what we’re hearing from the investor relations community in recent polls, webinars and conversations.   Several investor relations polls suggest that as they weigh social media options, IR folks, usually more conservative than their PR brethren, are jumping on the Twitter train since it presumeably doesn’t take as much time as creating blog content.

The results are interesting given that it wasn’t that long ago that we were debating whether to blog or not.  Seems the question has been answered:  you’re Twittering instead.

Business Wire PR Peeps Poll for October 2009          

Do you tweet, blog, neither or both?

  • 191 said they tweet-41.5%
  • 17 said they blog–3.7%
  • 112 said they do niether–24.3 %
  • 140 said they do both 30.4%

To those who participated, thanks for taking the poll.   And, how about helping with the November Business Wire PR Peeps Poll?  It’s a social media report card–how was your year? 

 Please let us know.

460 respondents via Twitter and Business Wire webinar polls.  Poll conducted  September 9  – October 29,  2009.


Business Wire at PRSA

November 3, 2009

The PRSA 2009 International Conference begins this Saturday, Nov. 7 in San Diego, and as always, Business Wire will be there, showing you our latest innovations in press release delivery and demonstrating how our high-tech platform beats the competitors with simultaneous delivery, integrated multimedia, superior social media capabilities and more.  Here are some of the highlights of our participation in PRSA:

  • Laura Sturaitis, SVP, Media Services and Product Strategy, will once again join forces with Greg Jarboe of SEO-PR to update their popular “What’s the ROI of Your Press Release?” session to be presented on Tuesday, Nov 10th. “Greg and I are going to share  some of the new trends we are seeing in global search, social media engagement and using multimedia to tell your story and how you can determine what is working for you,” says Laura.
  • Malcolm Atherton, account executive from our Phoenix office, will be handling our Twitter duties live from PRSA — make sure to follow @BusinessWire to get on-the-ground reports from our booth, sessions, workshops and more.  Malcolm, who is heavily involved in the PR and social media communities in Arizona, has his own very informative Twitter feed as well; get to know him before the show at @MalcolmAtherton.
  • We’ll be at Booth #73 with our “Business Wire is HD” presentation, showing you that distributing your press release over Business Wire is, well, just better.  A more attractive press release with embedded hyperlinks, optimized keywords, wider earnings tables, easily downloadable video and pictures, social media sharing . . . come see for yourself why Business Wire is the one to use.  While you’re there, enter your name in a daily drawing for a chance to win a Blu-Ray player, and pick up a special gift, too!
We look forward to seeing you all in San Diego!

Heinz Press Release Case Study: All Things Press Release Podcast

November 2, 2009

Latching  onto a timely news hook and  adding a great photo to your press release can be the key to online traction and increased sales.  That’s what happened with the launch of www.myHeinz.com, a website created by Heinz, Inc., where you can make custom labeled ketchup and mustard for your special event.

Hear the details of this case study in the most recent edition of the All Things Press Release podcast:     

Like what you hear?  Subscribe via RSS or iTunes.  You can hear our other podcasts by clicking on the All Things Press Release tab at the top of this page (third tab from left).

Have ideas for a future podcast?  Please let us know.  Email blog_group@businesswire.com or connect with us on Twitter at http://twitter.com/businesswire


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