Boosting The Bottom Line Is Moving To the Top
As the markets continue to climb, so does the stature of investor relations, both as a corporate function and as a career opportunity, according to a July study by the National Investor Relations Institute. Working in investor relations is no longer considered a step on the ladder up to a "real job." The senior investor relations officer within a company is described as having a career position by 73% of practitioners, up from 59% in the 1996 version of the study. Reaching senior corporate IRO spot is now viewed as a career goal by 51% who work in IR, up from 38% previously. And maintaining a dedicated IR department is no longer considered optional, with 86% of companies with NIRI members having IR departments in their companies. That's a jump from 80% in 1996. (NIRI, 703/506-3570, http://www.niri.org)
Bonding Together in a Historic Alliance
Ten of the nation's largest African-American public relations agencies have formed the African-American Public Relations Alliance. The organization is designed to create a national network to give its members greater capacity and reach that will help them provide PR services to corporations, government agencies and trade associations looking to access African-American consumer markets. In an interesting PR move of its own, the Alliance has won the endorsement of the Rev. Al Sharpton, as well as NAACP President Kweisi Mfume.
Says Alliance Chairman Lon Walls, "In this ever-changing world of diverse cultures, consumer bases and business strategies, the Alliance will be a vital and necessary component to successfully tap into the African-American market. We are confident that our expertise will enable us to compete more effectively against the general market public relations firms."
(African-American Public Relations Alliance, 202/333-6181, http://www.aapralliance.com)
Squashing Office Rumors
The company's being sold! They're laying off the PR department! Rumors are a powerful and potentially destructive workplace phenomenon. According to the New York Public Library Business Desk Reference, to cut down the harmful effects in your office:
- respond in a skeptical manner when presented with rumors;
- gently remind rumormongers of others' feelings;
- use strong language to deter persistent gossipers;
- avoid sounding preachy or morally superior. (John Wiley & Sons, 800/225-5945)
Of Note
Kill and Knowlton Inc. continues its move into Latin America with the establishment of Hill and Knowlton Guatemala. In 16 months, H&K has expanded into six countries in the region with owned-and-operated offices now in Mexico, Central America, the Caribbean and South America...Celebrating its 15th anniversary, Duffey Communications unveils a new corporate identity, logo and office. The firm's new tagline is "media, marketing, message management" to encompass the range of services it offers.
Bell Takes Over Top Spot at Young & Rubicam
In a mutually agreed game of leapfrog, Thomas Bell Jr. hops over Chief Operating Officer Edward Vick to take the reins of Young & Rubicam Inc. Vick was seemingly the heir apparent, but he told The Wall Street Journal, "I didn't have a desire to run a public company."
Bell succeeds Peter Georgescu at the top after being named chairman and CEO of Y&R's advertising agency just a year ago.
Before joining Y&R, Bell headed the Hudson Institute, a Washington, D.C.-based think tank and was chairman of the Center for Naval Analyses. He served as chief executive of Gulfstream Aerospace and worked in senior positions at Y&R's public relations firm Burson-Marstellar.
Vick will take on the new role of chief creative counsel and he'll take assume the title of chairman from Georgescu on Jan. 1.
Other People
New York-based consumer marketing communications agency Cairns & Associates Inc., appoints Lisa LoManto as VP of consumer products. LoManto joins Cairns from Shandwick International...Calpine Corp., an independent power company based in San Jose, Calif., hires William Highlander as director of public relations. Most recently, Highlander was VP of communications with United Defense.