Each day, we read a huge number of industry publications to keep on top of emerging trends, successful programming tips and changes in technology that directly affects the way humans consume news and information. Even though we have a huge reading list, and below is just a small subset of them, we can’t help but wonder what else is out there? What are you reading every day to keep you ahead of the curve? Who should we add to our reading list?
By Katie Kennedy, Account Executive
On Tuesday, February 18, Clevelanders braved the wind and treacherous roads after an unwelcome overnight snowfall to join Business Wire Cleveland for a breakfast event featuring John Campanelli, the new publisher and editorial director of Crain’s Cleveland Business. Campanelli, a Cleveland media veteran, is the first new publisher of Cleveland’s most reputable source of business news in 28 years.
In fact, Campanelli cited reputation as a major factor in his decision to take the position as publisher at a time when print publications are diminishing. Crain’s Cleveland Business is highly regarded by the community it serves and John plans to keep that reputation intact. How?
“The worst sin is to not be interesting. Content is the single most important thing,” said Campenelli. “As long as we can keep it interesting, we’ll survive.”
Campanelli gave a preview of how he plans to keep it interesting and what is to come for Crain’s Cleveland Business:
- A new website, responsive design, a stronger social media presence – “they are all coming.”
- Multimedia usage. Short 3-4 minute videos recapping the week’s news are on the horizon as part of an overall campaign to include more multimedia with most stories.
- Expanded coverage. John indicated that philanthropy and sports are beats that deserve more attention.
- More diverse content. Look for news on dining, fitness and other “things that business people care about” to be added to the mix.
- Continue to be a business connector. Not only by providing data and information, but also by hosting more events. Plans for smaller, more editorially-focused events are on the agenda.
During the Q&A portion of the event, Campanelli responded to several questions about the recent changes at The Plain Dealer, Cleveland’s no-longer-daily newspaper. John assured the audience that Crain’s will continue to be delivered in print and that there is no plan for the publication to be online only. A former colleague of John’s from The Plain Dealer asked perhaps the most memorable question: “Do you see a place for investigative journalism in business news?”
“Absolutely!” replied John.
Campanelli asked the audience in jest if they had any tips before concluding with a sincere thank you and extending an invitation to our guests to get in touch with him and share information and ideas as he settles into his new role.
Not so ironically, as I sat down to write this recap a colleague in attendance at the event suggested I keep it fun, light and interesting – I guess John got his point across!
John’s Crain’s page: http://www.crainscleveland.com/apps/pbcs.dll/personalia?ID=22&category=CONTACT
By Farah Merchant, Business Wire
SEC Chair Mary Jo White recently issued a staff report to Congress on disclosure reform initiatives. The report, mandated by Congress in the 2012 Jumpstart Our Business Startups (JOBS) Act, offers an overview of the SEC’s Regulation S-K.
Regulation S-K pertains to disclosure, and first applies to companies upon IPO that register with the SEC using form S-1, and refers to ongoing reporting requirements in Forms 8-K and 10-K.
White’s primary concern is the risk of information overload to investors, and she defined information overload as, “a phenomenon in which ever-increasing amounts of disclosure make it difficult for an investor to wade through the volume of information they receive to ferret out the information that is most relevant.”
She believes the guidance needs to be updated as there is repetition in disclosure, where certain items appear in more than one section, i.e., information on legal proceedings that appears in its own section but also in the notes to financial statements, risk factors and MD&A.
White addressed the need for input from market participants for the following proposed recommendations:
- Recommending that companies file a “core document” or “company profile” with information that changes infrequently (needs to be reworded)
- Amending the filing process by streamlining and simplifying disclosure requirements to reduce administrative costs
- Researching ways to enhance the presentation and communication of information; and to use technology to address these issues
Click here for a copy of the full SEC report.
Is less disclosure more helpful or harmful to investors?
According to a recent Fortune article, the early opinion on the street is that although the disclosure requirements of the SEC may need an updated and possible streamlining, the information currently available is useful and helpful.
Although it may be true that not all investors read a filing in full, there are many that do, as the full filing provides insight on investment and voting decisions. By having more information available, investors feel that they can be more diligent in assessing risks. If nothing else, the recent financial crisis has taught investors a valuable lesson and that is to be more informed, more educated and to not discount risks.
So already we have a difference of opinion. On one hand you have the SEC looking to ‘simplify’ their disclosure process, with the possibility of reducing the amount of information necessary for companies to meet disclosure requirements. On the other hand, you have the street, which at first blush is more than happy with the amount of content and would be happy to receive even more granular details.
So where do you stand on SEC disclosures: More, less, or just right?
by Tom Becktold, Senior Vice President, Marketing
In case you missed Friday’s (February 7, 2014) Wall Street Journal story, Speed Traders Get an Edge, Scott Patterson reported about a high-frequency trader that licenses Business Wire content. In the piece, the reporter details how, with equal access to our file as news organizations, the firm was able to execute trades very quickly. Not exactly ground-breaking reporting, but in the Nanex research cited, you do see how rapidly events unfold once we issue news.
To answer the question, Business Wire provides one feed of news, so all subscribers – news media, consumer-facing sites, researchers, investment firms – have equal, simultaneous access to our file. There are no tiers of access (paid or unpaid) and no one gets a jump from us. The fact is that Business Wire, via its NX delivery technology, delivers its news feed to every recipient, at the same time.
This WSJ article is about how high speed traders might be ‘gaming the system’; that is, using technology to create a millisecond advantage on accessing news. And, that millisecond, which is one thousandth of a second , is apparently all it takes to make this a story.
Bloomberg’s Matt Levine provided excellent perspective on Friday with his story High Speed Traders Trade Faster Than Low Speed Traders.
Drawing upon the Journal article and the Nanex research, here’s a timeline that provides insight into how efficient our patented NX platform is – what you see is the trading firm, Bloomberg and Dow Jones acting on the Business Wire story within 300 milliseconds – a measurement that most of us, as humans, might have a hard time wrapping our head around:
- · 16:00:00.000 – Market scheduled to close
- · 16:00:00.175 – Business Wire issues Ulta press release
- · 16:00:00.225 – Stock trades within 50 milliseconds of release
- · 16:00:00.242 – Bloomberg News runs Ulta story
- · 16:00:00.464 – Dow Jones runs Ulta story
- · 16:00:00.688 – Nasdaq closing price set
As you can see, the release goes out, then recipients act on it; there is no jump in the delivery, only in how it is utilized.
A curious item from the Journal story also caught our attention: “Business Wire’s competitor, PR Newswire, says it doesn’t provide trading firms access to its “Disclosure Feed” despite frequent requests. The company says it provides the news feed to clients with the understanding that information provided won’t be used for trading purposes.”
As we noted, Business Wire does not have a separate “Disclosure Feed” precisely because markets move so fast. And, the last time we checked, PRN had a healthy licensing and reseller business that serves the investment community. As many investment firms now have high-speed trading desks, the statement appears disingenuous at best.
So, what does this all mean to our clients and network recipients? Business Wire remains committed to full, fair and broad-based disclosure, providing equal access to all market participants. With news organizations and investment firms increasingly relying on algorithms to trigger rapid coverage and trades, Business Wire ensures a simultaneous, level playing field to our content.
Business Wire was the first newswire to eliminate the 15 minute delay to the investment community back in 2000, in lock step with the letter and intent of Reg FD.
We have built our business around full and fair disclosure for all market participants. By doing so, we have earned the trust of our corporate clients each and every day for more than 52 years. We stand by our patented technology, our gold standard business model, and our commitment to the highest standards of security, performance and reliability.
We are so excited to announce a handful of promotions within our executive and sales management teams!
Brenda Bell assumes the role of regional vice president. Based in the Denver office she will be responsible for the company’s operations in Arizona, Colorado, Kansas, Missouri, New Mexico, Nevada, Utah and Wyoming. With 28 years in the newswire industry, Business Wire clients will benefit dramatically from Brenda’s extensive IR, PR and marketing communications experience. She is currently a member of the National Investor Relations Institute (NIRI) and the Public Relations Society of America (PRSA).
Warner Boutin is our new regional manager of Business Wire’s Seattle office. Warner demonstrates an exceptional consultative sales ability that will be an invaluable resource for mentoring his new team. Warner is accountable for overseeing the Pacific Northwest region including revenue and operations. Responsibilities include leading the business development team, steering client relations and overseeing the newsroom bureau – across five states. Warner is also the producer of the documentary film Roll Out Cowboy which won numerous accolades at film festivals nationwide including best documentary from the Seattle True Independent Film festival. Warner possesses a talent for being personable and will be greatly missed in the Los Angeles office.
Meghann Johnson ,who was an Account Executive in 2010, has rejoined Business Wire in 2013 as Regional Sales Manager for the Chicago office. Her responsibilities include overseeing sales operations in Illinois, Wisconsin and Michigan. She will assist clients with crafting and implementing a wide range of communications strategies from PR to IR to marketing to digital to content and social – ensuring our clients successfully meet their objectives. Before returning to Business Wire, Meghann worked as a Senior Account Executive handling multiple accounts for clients including Humana, GE Transportation and Bosch at Edelman Chicago.
Danny Selnick has been named Senior Vice President, Strategic Markets. Danny has more than 25 years of industry experience working directly with communicators on Capitol Hill, at government agencies, national associations, corporations, non-profits and public affairs/relations agencies. He continues to be the driving force behind Business Wire’s Public Policy and LatinoWire services, but now also focuses on new business development opportunities across many sectors that would clearly benefit from Business Wire’s innovative portfolio of products and services.
David Slothower has been named regional sales manager of Business Wire’s Silicon Valley office. The native Silicon Valley resident has witnessed the city change from a modest town into a global high- tech hub. David will use his rich background in technology and sales to manage Business Wire’s local team. David says,”Silicon Valley is such an exciting place to be. You never know if that small five-person office you are walking in to is going to be the next Apple.”
Congratulations to all of our team members taking on new challenges this year. Their expertise and experience are key components of the Business Wire operation that spans over 32 offices worldwide.
For more information about the team, please contact us.
by Matt Allinson, International Media Relations Supervisor
I recently had the good pleasure of speaking with Tony AbiHanna, a Managing Director at News Services Group (NSG) in Dubai. NSG is a leading news service provider in the Middle East and North Africa and a distribution partner of Business Wire. With more and more client news going to the Middle East, I was curious to know if he had any tips for conducting business in the region. During a short question and answer session, Mr. AbiHanna touched on the proper timing of a press release, what social media are popular in the region and whether sandstorms whipped up by shamal (wind) ever impact business.
Q: What is the single biggest thing to keep in mind when trying to successfully distribute news in the Middle East? Is it timing? Is it the headline? Is it the tone?
A: Normally media outlets across the Middle East tend to publish news related to the region. So it would be best if clients can highlight a relation (if any) to the Middle East, a country in the region, or the name of a company based here in the headline of a press release. Otherwise, the news release most probably will end up in the international news page (if there is still space for it).
And timing plays a big role if the client is targeting print media. Any release distributed after 3:00pm or 4:00pm (at the latest) has less of a chance of being picked up by the print media.
Q: What is the best day of the week and the best time of day to send out a press release in the UAE (or the region – if there’s an agreed-upon standard)?
A: We advise avoiding distribution on Sundays (the first day of the week here) and Mondays. Otherwise, all other days are fine. Keep in mind, however, that Saturday is an off day and therefore an easy day news-wise.
Q: Are there any meeting customs/traditions unique to the Middle East that outsiders coming to conduct business should be aware of? For instance, in Japan, they have the “kamiza” seat and the exchanging of business cards. Does anything like this exist where you are?
A: There is a tradition of drinking Arabic coffee (which is the white coffee), and it can be considered an offense if the visitor doesn’t drink it as it is part of Arab hospitality. Plus, the professional classic and conservative outfits (especially for females) are advisable.
Q: From your point of view, what social media sites are most popular in the UAE and Middle East? What sites would be best utilized to complement the distribution of a news release?
Twitter is very influential and on top of the list and then Facebook and Instagram, respectively.
Q: Do sandstorms/shamal ever severely affect business in Dubai or elsewhere in the region?
A: The UAE, Abu Dhabi and Dubai roads and business centers are highly equipped with the latest infrastructure, so sand storms don’t affect business here. However, if the visitor is traveling by car between Abu Dhabi and Dubai or any other Emirate for example, he needs to allow more time as traffic slows down on highways during such storms.
Turn your press release into a charging warhorse
By Joanne Ngo and Alex Howard, Business Wire
January 31, 2014 is the first day of the Lunar New Year, the most celebrated holiday in China, Vietnam and other parts of Asia. It is a celebration honoring new life. It is a highly anticipated holiday full of firecrackers, dragon dances, temple visits, lucky red envelopes and family gatherings.
This year is the year of the horse. The horse is one of the favorite animals in the Chinese zodiac, and is closely linked to people’s lives because of its ability to quickly transport people and things. In China, the Red Hare was the celebrated warhorse of Lü Bu, the ancient Chinese general and warlord. According to legend, the Red Hare had a reputation of being the horse that could travel hundreds of miles a day, climb mountains as if they were flat land, cross rivers and much more. As we at Business Wire prepared for the Lunar New Year, it occurred to us that the mystical Red Hare is much like today’s modern press release. The horse, for example, is a symbol of:
- Strength: Like the horse, a press release is a pack animal, capable of carrying loads of information to your audience.
- Efficiency: Similar to how a horse helps you work more efficiently, your press release when distributed via Business Wire, helps you efficiently deliver a message packed with content that your readers and media want to read, report on and share.
- Speed: Comparable to a galloping horse, news shared via Business Wire travels around the globe, quickly, easily and effortlessly.
Our thoughts of Lü Bu’s many military victories got us thinking of Lü Bu atop his magnificent steed, charging into battle. As in war, where one would never send a horse out to battle without armor, the same goes for your press release. To protect your brand, product and message, outfit your press release properly – utilize clear, relevant writing, multimedia, social media calls to action, and hyperlinks. A warhorse cannot fight an army without armor, and neither can your news.
Train your Release Prior to Battle: Make it Clear and Relevant
One of the most important ways to prepare your news to battle today’s content clutter is to make sure your release is clear and relevant. A well written, highly targeted press release sparks conversation and interaction and guides journalists and other interested readers to your news. Today, this is more important than ever thanks to Google’s recent algorithm changes. Google no longer places emphasis on individual keywords placed in copy, but instead helps users find your news via natural search phrases.
Outfit Your Release for Battle
Once you have a beautifully crafted, relevant story, you need to arm it for battle. In 2011, Skyword’s research discovered that news articles with images received 94% more views than news articles without imagery. In 2013 the award winning study conducted by SEO-PR and Business Wire, the press release that included video had 55% more views than the one without it. In 2014, multimedia is a required element to any article or story. Visuals quickly capture the attention of today’s fast-paced, mobile-crazy audience. They also help illustrate a very technical or lengthy press release, support new product launches and paint a clear vivid picture of your story. This imagery will help your press release defeat the clutter and reach your target audiences faster and more effectively.
In war, the battle cry can unify the corps and intimidate your opponents, so give you news the final advantage with a battle cry. One of the best ways to increase the impact of your press release is to initiate social sharing. Including a sharing call to action, such as including a Click to Tweet, allows readers and brand fans to tweet your news, your battle cry.
After the fighting is over, the warrior leads the Red Hare home. Just as the warrior leads his horse home, so must you lead your readers. Include relevant, natural links within your press release to help interested parties continue their journey to learn more about your business. For best usage of your links, limit them to an average of one link per 100 words.
Winning the Battle, Winning the War
Just as the Red Hare served the warrior in times of need, so will your press release serve you. When crafted properly, and outfitted with its armor of multimedia, this piece of content will cut through the clutter and deliver your news, your company story to all corners of the world.