June 16, 2009
Business Wire Boston hosted a breakfast event June 11, where investor relations and media relations professionals from across New England gathered to discuss best practices in corporate disclosure and how to manage the flow of information in the digital age.
The panel discussion, “Communications Strategies for the New Age of Corporate Transparency and Accountability,” focused on the meaning of disclosure as dictated by the SEC, the appearance of transparency versus actual accountability and the importance of simultaneously disclosing important financial news.
Matt Kelly, Editor of Compliance Week, moderated the panel, which also included:
Among the key points made by the panel:
- Ms. Gates explained that statements made online on websites and through mediums such as Twitter are still just as liable as press releases when it comes to classifying official company information, and those posts are therefore still regulated by the SEC. She stressed that IR professionals need to treat digital mediums like blogs and tweets with gravity.
- Mr. Takazawa echoed Ms. Gates’ conservative view of disclosure explaining that many companies mistake detail for transparency and that to put too much information out there for investors will only dilute the message.
- When embracing a social media policy, Mr. Takazawa again said it is important not to have too much “noise” and let communications get out of control. By limiting those with the authority to post information or speak to the press to a highly vetted few, communications can stay on message and not distract investors.
- Mr. Pressman stressed the importance of simultaneous disclosure and the use of a primary newswire when disseminating financial news explaining that there are 5,000 companies he follows and he does not have time to go to thousands of websites each day looking for company news.
- Mr. Quaratiello elaborated on the importance of disclosure and not “burying the facts,” noting that when the Boston Herald receives annual reports that have pages and pages of text, his team assumes the company has something to hide and reporters skip right to the notes section.
- Mr. Pressman stressed the limitations of reporting on stories first posted via sites such as Twitter because of the lack of reputation and authority. Mr. Quarantiello, who described his publication as more of a tabloid at times, said his team tends to pick up more stories online these days. He said that a CEO on Twitter might be a scary thought for an IR professional, but from his standpoint, “we’ll eat it up.”
Local Business Wire offices host several events each year on PR, IR and media topics. Check out the Business Wire Events page to find upcoming events in your area.
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June 2, 2009
Business Wire Boston hosted an exclusive luncheon event at The Boston Globe‘s headquarters May 21. The sold-out event featured speakers from a range of Globe departments including digital media, advertising and business reporting, drawing in more than 100 media relations professionals from across New England.
The event, “The Boston Globe and the Changing Media Landscape: An Inside Look at the Move from Print to Digital,” offered an overview of how The Globe, owned by The New York Times Company, is adapting to new business models in communication and incorporating new media techniques in reporting and advertising.
»A full recording of the discussion is available.
The panelists (all with The Boston Globe, left to right):
- Shirley Leung, Assistant Managing Editor of Business News
- Sam Martin, Chief Advertising Officer
- Susan Hunt Stevens, Senior Vice President for Digital
- David Beard, Editor of Boston.com
Jack Jackson, President of PRSA in Boston and principal of On-Message PR, moderated the discussion.
Topics discussed included valuing media coverage in the print edition of The Globe versus Boston.com (the paper’s companion site), new revenue streams for the organization and how the paper went from zero to 35,000 Twitter followers in less than four months.
A video recording of the event, “The Boston Globe and the Changing Media Landscape,” can be found here: http://www.valedvideo.com/berkshire/video_home.html
For more information on local Business Wire events in your area and what’s coming up on our award-winning webinar series, be sure to check out upcoming Business Wire events.