Glad to see this story that appears on Politico.

It discusses PR and the hedge fund industry.

My take-away is hedge funds that are more visible with investors are doing themselves a big service.

If approached correctly — with strategic forethought and the approval of legal counsel — public relations can be a highly effective tool that enables managers to achieve a number of critical business objectives through the media.

To be sure, a number of forward-thinking managers understand the effectiveness of PR and making the media work for them. However, many managers believe the press is something to be avoided at all costs. “We want to fly below the radar,” is the popular refrain.

Many mangers think the press is out to get them, so they want to stay below the radar.

In fact, the press needs them to write stories so they want to foster good relations with managers.  Our clients realize this already.  Good for them—and us!

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There is a scene at the end of The Lion King, where His Majesty holds his new baby above the valley of Pride Rock’s precipice, and proudly presents his successor to the rest of the animal kingdom. If an exchange-traded fund (ETF) were tangible, cub-sized, and not afraid of heights, our recent field trip to the New York Stock Exchange (NYSE) on January 12th could be described in much the same way.

As part of the campaign launch for a new client, DPR was invited to join Tendai Musikavanhu, the CEO of Old Mutual Global Shares Index Trackers (OMGxT) and his team to the ringing of the opening bell at the NYSE. OMGxT launched the first ETF originating from Africa. The company, which was established in South Africa and focuses on emerging markets, is a division of a $400 billion + asset management firm.

Not to play favorites, but this client’s story had held my interest even before the royal ringing of the bell. South Africa has made a critical transition from a developing economy to an emerging market. Emerging markets are proof of globalization and a good barometer of where world economies are headed. As a student of international relations at Tufts, I came across the g-word more than once.

What’s more, the concept of transition and development are themes prevalent in the work I do today. I joined Dukas PR less than a year ago, transitioning from a newly minted college graduate to a member of the asset management team. Although I had some communications and agency experience, the extent of my financial knowledge at the time was capped at balancing my check book. Aside from some fiscally irresponsible purchases (a bedazzled sponge holder), my financial knowledge has since grown exponentially. Emerging markets are hot, and with reporters always looking for new sources, we had a lot of success pitching Musikavanhu’s story – to CNBC, the Wall Street Journal, Forbes and many other top outlets.

Arriving at the ringing of the opening bell, we were immediately escorted by security through narrow hallways to the top floor conference hall, where a catered breakfast and various representatives awaited us. We were honored to meet Consul General Fikile Magubane from South Africa. Since the African continent is generally not a source of positive financial news, being listed on the NYSE marked a milestone for OMGxT and South Africa as a whole. Fikile Mugabane’s speech passionately embraced South Africa’s progress.

At 10 minutes to the opening bell, we entered the trading floor. Frazzled looking creatures in striped jackets and spotted vests roamed the floor, seeking others from their packs to congregate at central terminals and satisfy their need for a market update. Photographers flooded the stage on the second floor, where Tendai and his team stood holding the intangible ETF high above their heads, ready to present it to the world. Once the bell was rung, there was a thunderous applause, and then the herds went back to their terminals.

- Alexandra Levis

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I have read far too many articles recently about how the unemployed are coping with the ongoing rejection they get from would-be employers. In fact, the New York Times just ran three articles over the weekend that profiled the unemployed. The basic premise of these articles is that the economy is terrible and these poor, qualified, talented people are languishing and being overlooked.

Don’t get me wrong, I certainly feel bad for those who are out of work, especially sole bread-winners with families. And I don’t deny that the economy has devastated many people. I know a number of people who have been out-of-work for months. I can’t imagine that it’s easy.

That said, what sets me off is that all of these articles continually miss a crucial point—the fact that most applicants have no idea how to present themselves to employers.

Perfect example—An article in the Times this weekend mentioned that senior-level executives who are looking to change industries should mention to their would-be employers how they value camaraderie and are team players. Ugh!

As an employer who has read my very fair share of cover notes and resumes, I can tell you that most end up in the trash. Why? Because they don’t tell me the one thing I want to know—why they should work for Dukas Public Relations (DPR)?

Candidates need to stress how they would fit in at DPR (or whatever company they are applying to). Do they know what we do? If yes—they need to tell me how their skills and experiences are applicable to DPR. Specificity rules. Generic cover letters filled with head-hunter-ese like “people person” and “great organizational skills” don’t cut it.

Go to our website; see what we do; and then draft a cover letter that directly addresses how you would complement our current needs.

I hate generalities and long-winded cover letters that simply rehash a person’s career. They are boring.

(And don’t get me started on candidates who don’t bother to spell-check or proofread; send the same note to dozens of employers using bcc—or worse, cc; include the wrong name of the company; or have email addresses like Sexygrrrl or BongBoy!)

I am impressed when a candidate spends the time to learn about our firm, and tells me in a cover letter and interview how they would directly contribute to DPR’s business. Show me that you’ve taken the time to research us—and get to the point quickly, please.

I recently interviewed a former reporter from a major metropolitan daily newspaper. This person had no PR experience, but told me that he was a great researcher and a quick learner. One problem—he didn’t research DPR before coming in for the interview, and couldn’t name one of our clients (to his credit, he did give me some feedback on our website).

Then, there was the thirty-something PR executive whom I interviewed by phone.

“So, tell me about yourself,” I started, “and let me know what you’re looking to do?”

She launched into a career biography telling me, in progression, about her previous jobs starting from 1991. Pass the Vivarin!

I want to know, as do most employers, what your skills are, what you’re looking to do and—most importantly—why you’re a great for DPR: and in 25 seconds or less. An “elevator pitch.”

My last anecdote involves a Wharton graduate. This person asked me to help him with his resume. I told him to remove the fact that he graduated number two in his high school.

“After all, you’re in the big leagues now, and employers don’t care about high school. You graduated with a solid GPA from one of the best schools in the country and you spent two summers interning at a multi-billion dollar hedge fund. Those experiences speak volumes about your credibility, and you don’t need to put your high school experiences in your resume,” I said.

“But career services told me to,” he said.

Wow! The career services department at one of the best B-schools in the U.S. has their graduates extolling their high school prowess. What’s next? Summer camp? Pass the Clearasil. They can’t be serious.

So job-seekers, the pundits, personal coaches, and career counselors are leading you astray.

Lose the jargon, the long-winded career bios and focus on being a “team player,” and start focusing on the things that matter the most—“what you can do for my company.” Tell me, please: hr1@dukaspr.com.

by Richard Dukas
President & CEO

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President Obama is certainly going to get more than a taste of Budweiser this afternoon. As a matter of fact, I think he and his advisors are getting a bad taste of how misjudgments in the communication process quickly allow a recession weary media to drink in an episode that has all the popularity once enjoyed by Cheers, but none of the levity.

 How far and how fast this earnest President has come! He’s gone from a media darling and star orator to a lightening rod of controversy for the brewing industry, The Christian Temperance Union, Alcoholics Anonymous, various Police Unions, Harvard, and the black caucus, among others. And all of this for not staying on message on one question in an otherwise perfectly choreographed news conference.

 Being a “Monday morning quarterback” on communications issues gone awry is easy. Being thorough enough to anticipate infrequently asked questions is very difficult, but necessary when working for arguably one of the most important people in the world. Unfortunately, the follow on management of what transpired leaves vast room for improvement.

 First there is the issue of beer and healthcare, which normally don’t mix. Taking a stab at being a nice guy by offering your neighbors the opportunity to sit down and talk things over a “cold one” was used with great success by my father in the 1950s. But he wasn’t President. And he wasn’t pushing a major healthcare initiative that was already losing steam in Congress and becoming less popular with the people. Frankly, the solution to the mini-crisis has become almost worse than the initial issue. The opportunistic stakeholders in the issue at hand seem to be multiplying exponentially as they seek to tag onto the reach and frequency afforded by Presidential coverage. This non-issue has developed a life of its own that may have legs even beyond the economic recovery if things keep going the way they have.

 Wouldn’t a simple meeting between the disputing parties have sufficed? Wasn’t there once again message slippage without much forethought? This afternoon’s meeting between an academic scholar, career police officer and the most powerful chief executive in the world to mend fences didn’t have to include beverages that don’t align with a major health care initiative. But I would suppose that if tea, or lemonade, or iced coffee were being served, their respective interest groups would have brewed, or mixed up, initiatives to tout their own agendas. Such is the power of the Presidency.

 Mistakes and snafus occur in even the most carefully drawn out public relations initiatives. But they can be minimized by careful planning, staying on message, and using plain old common sense as issues unfold. The latter is a euphemism for maintaining enough perspective of the broader situation to accomplish the objectives the initiative originally set out to do.

 I hope the Budweiser horses don’t make an unscheduled appearance near a certain house on Pennsylvania Avenue this afternoon, or that there aren’t too many picketers for various causes, or too many network interviews with executives of those causes, or too many book deals offered, or ………

 Edmund R. Belak, Jr.

Head of Corporate Communications and

Investor Relations

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If one of the world’s finest orators and PR savvy individuals, who is supported by a stellar media team, can turn his audience away from his message overnight, how can an average CEO, or senior manager avoid the same pitfall?

In choosing to comment forcibly on a local racially-charged incident in Massachusetts (the arrest of Harvard professor Henry Gates), President Obama slipped off his message and may have blown his opportunity to set the stage for a positive vote on his health care reform package. Instead, we have an incident that the media had already put to bed with the “Police Department Drops Charges” articles being brought back to the forefront in a crescendo of he said/she said pieces with accusations and refusals of apologies flying hither and yon. More “fun” than healthcare reform? You bet. What was he talking about, anyway?

The President’s press conference earlier this week was supposed to be remembered as a carefully staged and intelligent plea by the President of the United States to convince the people and their elected representatives of the need to engage in comprehensive health care reform. But it will actually be remembered for our country’s CEO providing an answer to a question about a difficult incident involving one of his friends, even though he wasn’t there and didn’t have all the facts. Hmmmmm…..

This example is not utilized to comment on the merits of healthcare reform, or to opine on whether a Harvard professor or a Cambridge police officer had his facts correct. It just drives home the fact that it is really, really hard to get control of the media message when you are being reactive to a situation, especially a difficult one that raises deep rooted fears, or is applicable across a wide audience. It also points out that even the most experienced executives can wander from carefully drawn paths. So what is a PR professional supposed to do?

The standard stock and trade of the PR industry is messaging and media training. But there is media training and there is MEDIA TRAINING. Even the most practiced of trainers—those who work with clients to get their messages down pat, video tape and critique mock sessions again and again, and rehearse frequently asked questions—often miss the boat. Why? Because it is the INFREQUENTLY asked questions that throw executives off, and last night’s press conference was a perfect case in point. We, as PR counselors, need to do a better job of assessing the media landscape and news cycles prior to our clients’ presentations, announcements, or speeches. And we have to ask ourselves the question: “What if?” And we have to prepare our clients for probable impossibilities and improbable possibilities. If you don’t believe me, ask the White House press corps today.

There is one other thing… no matter how well-trained and how experienced our clients are, we have to look them in the eye just before the interview, or appearance, and tell them—with all the senior counsel we can muster—to stay on message, stay on message, period.

The bigger communications issue that surfaces as a result of the President’s snafu is the comparison between the near success of a carefully constructed proactive public relations effort and the less successful reactive effort that is now being done on the fly to counteract the spin cycle moving the public and legislative bodies off the health care message. That’s not to say excellent crisis management can’t turn the situation around, but it won’t be done through a Town Hall Meeting in Cambridge, or a simple photo op of a certain professor shaking hands with a certain police officer.

Edmund R. Belak, Jr.

Head of Corporate Communications and Investor Relations

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Am I no better than a third-rate ambulance chaser?  That question crossed my mind as I began to think about Michael Jackson’s death and which of our clients would be available to comment to media on the Jackson story.

After Jackson’s death was announced, I-like so many across the globe-felt a sense of disbelief and sadness.  Random memories began to surface… the “Bad” cassette tape from fifth grade.  The “Thriller” album from kindergarten (my first new and really only LP; albums were already going the way of the dinosaur).  The feeling of excitement — which exists to this day — when “Billie Jean” is played.

Yes, all those thoughts were there.  But quickly, they were replaced (at least temporarily), by the question that every publicist should always ask in any breaking news situation, “Which of our clients can comment to the media?”

If you’re not a publicist, you might well say, “You ARE a third-rate ambulance chaser, Linden-a media hack, and you have no sense of decency!”

The accusation is understandable, but not on point.  It is one thing to simply throw someone on television or to journalists to speculate about Jackson’s personal life and question his character.  It is another thing to have an experienced expert comment on the process.

And so, when he died, I immediately thought, this is as much a business story, as it is a personal and tragic epic.  Surely, someone will need to walk viewers and readers through the aspects of Jackson’s business empire, his royalties, licensing and copyrights.  What happens, I asked, to his empire, which is so large and yet debt-filled and unclear in terms of its control?

At the end, we contacted one of our clients (a prestigious accounting firm), and worked to obtain high-tier media opportunities on behalf of one of its music licensing accounting experts, who works with major entertainments artists.

His expertise helped explain the process and what happens more generally to artists of Jackson’s stature in terms of estate and music licensing issues.

No doubt some might argue, “Why does any of this need to be discussed at all?”  Again, a fair question. But, Michael Jackson was one of the greatest performers and celebrities of our time.  His death was one of the major stories of the year, and it is my job to ask how our clients can be a part of that story in a dignified, helpful way.

If a client can ultimately educate, explain and show a viewer or reader how a process works (without character assassination), then a firm like ours has succeeded.

Perhaps that’s why I wouldn’t feel comfortable working with tabloid programs and pitching so-called experts who shoot from the hip to explain “Michael’s mindset” and “last days.”  Granted, those folks have a view to express, but I don’t want to be responsible for putting forth those views.  At that point, I believe, one really does become a third-rate ambulance chaser.

by Seth Linden
Senior Vice President

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Something extraordinary has certainly occurred in the world of media and communications.

User-generated content technologies such as Twitter, mobile video and YouTube took the lead in reporting on the civil unrest in Iran, while CNN and the New York Times were forced to rely on this content for their reporting on this monumental global event.

Since journalists were barred from the streets, the use of user-generated content was born out of necessity, but in the aftermath several questions emerge:

• Does this represent a one-time event, or a sea change in the media environment?

• Has the user-generated content-led coverage of Iran permanently shifted the media environment to the point where user-generated media is an equal partner to traditional media?

• If so, what are the ramifications for corporate communicators and PR executives?

Consumers definitely value social media content created by other users. Businesses and institutions also are embracing and creating this content in an effort to communicate more directly with their customers.

If the model for media coverage seen in the Iranian protests becomes the norm, and journalists accept user-generated content as a (nearly) equal voice, then we as communicators will be faced with a truly integrated communications environment — bloggers and Twitterers will expand on stories written by the mainstream media, and “professional journalists” will advance stories originated by user-generated content.

If this mindset takes hold, then collaboration can happen with stories on every topic, not just in cases where individuals with social media broadcasting capabilities happened to be first on the scene, such as in Iran and the Hudson River landing of U.S. Airways flight 1549.

Companies that have considered traditional media and social media audiences separately need to begin embracing an integrated communications strategy that takes advantage of the increasing interplay between the journalists and other audiences that produce content, such as customers, investors, concerned citizens, and even regulators.

Given that CNN and the Wall Street Journal are looking for story ideas on YouTube and Facebook, companies must ensure that the messages disseminated via social media are aligned with the messages being delivered to traditional media. Therefore, social media efforts are direct communications to traditional media journalists.

by Daniel P. Bingham

Director, Interactive Communications

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Now that the SEC has finally chimed in on the “to disclose or not to disclose” medical melodrama faced by Apple’s board regarding Steve Jobs’ liver transplant, we’ll all feel much better.

Perhaps not as well as Mr. Jobs does presently-and certainly not as well as Apples’ shareholders who held the stock since last January. But was the decision to clearly withhold material news an expertly crafted exercise in corporate miscommunication, or just a very lucky coincidence of market timing in which corporate and macro economic events would have trumped whatever decision was made?

To those who believe the proof is in the proverbial pudding, the consistent appreciation and current price of Apples’ stock stands as witness to the board’s “wise” decision to obfuscate. Certainly investors would have fled in droves had the charismatic founder’s peril been disclosed. But would they?

Key product launches were successfully announced prior to Jobs’ absence and a literal market tsunami drove large cap techs throughout the first half of 2009, creating the near appearance of something clearly bovine in the equities space.

To those who believe a level playing field is in order at all times, under all circumstances disclosure of materially important material news is … well…. materially important.

There is and can be no other way.

The concern being that if investors weren’t told and Mr. Jobs became permanaently incapacitated (or worse), the stock would have cratered and shareholders would have sued with abandon. And another great brand would have been tarnished.

No CEO is forever–not even Steve Jobs. It is the legacy of their corporate deeds, not their books, that determines history’s take of CEOs tenure. And certainly from a product innovation, shareholder reward and customer service standpoint Jobs stands tall, very tall. But he has a chance now to give back to the system that has literally given him his life. Apple should become less implosive and take upon itself a sincere and significant cause- related marketing effort to do everything corporately possible to support and enhance the organ transplant system in the United States. No other company is so well positioned to do so in terms of technology or cachet. And no other CEO is so well positioned as both spokesperson and beneficiary.

by Ed Belak

Director, Corporate Communications and Investor Relations

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