Loyalty is Not a Fallacy…?

With national Loyalty Day arriving tomorrow in the U.S., I’m going to fly my flag and reaffirm my loyalty to my country. Reuters got the timing right yesterday as they released the results of a national survey showing just where Americans place their loyalty.

Not surprising to most of us in public relations who labor daily to help brands achieve loyalty, the favorite car, TV show and soft drink brands of respondents faired better than their employers. Lessons learned from this and other recent polls? Employers should be spending more time deserving employee loyalty. It’s become unfashionable to talk about loyalty to company lately, I suppose, but isn’t it just a tad sad that employers don’t come across better than the survey indicates?

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Brand loyalty is an inside-out proposition and employees are critical to creating excitement and enthusiasm in customers, shareholders and other external audiences. Business Pundit’s interview with Dianne Durkin is a recent statement of this point of view about customer loyalty (which she distinguishes from brand loyalty). And while others may discount employee loyalty, arguing that there is plenty of supply and fairly low demand for employees lately — a buyer’s market –  I’m not in their camp.

My intuition won’t let me come down on the side of the supply-siders’ point of view because people are particularly important to businesses like ours that derive their value from fielding good, smart, engaged, competent, confident and caring teams for their clients. The closer-to-right point of view about employee loyalty probably was delivered by Jack and Suzy Welch in a post last year for Business Week The Loyalty Fallacy. They pointed out that the only way to play fair with employees is to focus on results. 

To acknowledge the obvious, Mr. Welch as the former head of GE has his detractors. In fact, the GE organizational development scheme of firing the bottom 10% is downright repulsive to those of us who are just so happy that our freshman year universities didn’t take the same approach. People are redeemable, and it sometimes looked as though GE was operating on that “there’s plenty more where they came from” thesis. (Kris Dunn, the HR Capitalist, put up a great post earlier this month 10 Bitchin’ Facts About Jack Welch…in which he lists as #4 fact: “Chuck Norris can drink an entire gallon of milk in thirty-seven seconds. Jack Welch doesn’t drink milk. Milk is for sissies.”) Lately, though, even Mr. Welch seems a more benign presence in the business landscape, and his take on the importance of companies clarifying which values and behaviors matter has always been right on.

The importance of loyalty is evident in business in so many ways that it’s important to nurture and encourage it. From small main street banks to large fast food chains, companies are at least professing their interest in building loyalty within and outside their walls. But, there’s a big difference between deciding and doing. Here are some steps to move the loyalty ball forward with employees:

  1. Research what employees want to learn to do their jobs better. This is NOT employee satisfaction surveying, but employee curiosity and continuous learning polling.
  2. Train. Train. Train. Whether it’s better application of specific knowledge or a more expansive result employees are after, one of the best ways to encourage their engagement and loyalty is to help them grow in their jobs.
  3. Formalize your mentoring, even if it is informal. Employees enjoy being brought along by other employees. Make sure mentoring happens in a way that fits your organization and its culture.
  4. Reward good performance. As Jack and Suzy would probably say, you have to make sure you reward the people who are bringing the organization its future.
  5. Make work flexible. As a service company, we are always trying to balance the “be at the office” time with the “working from home” time. This and other issues are vital to employee comfort and support of the enterprise. Part-time, shared jobs, flexible work hours and other approaches are all worth a try.
  6. Support retirement security. In a nation with such a low savings rate and such a high demand for stuff, we have a continuing problem (started by us boomers) of getting our people ready for a time when their work will be behind them. Help your employees make this happen.
  7. Give kudos. Often.
  8. Reach for greatness. When you establish a high standard, people feel challenged to meet expectations. When they do so, the reward of accomplishment is sweet.

Let’s hope part of the new reality that is being discussed with regard to our economy includes a healthy dose of loyalty. Some of the foundations seem to soften when we hit good times and lose track of the fundamentals. Loyalty is one of those foundations for good business, and the best foundation builders surround us every day at work.

 

Hospitals Could Learn a Thing or Two from Higher Education

By Jenn Riggle

Newsweek published an interesting article that looked at whether the recession is killing the liberal arts degree. According to a new study by Michigan State University professor Roger Baldwin, the number of liberal-arts colleges dwindled from 212 in 1990 to 136 in 2009.

While smaller, less endowed colleges seem to be most affected by the recession, well-known colleges like Amherst, Middlebury, The College of the Holy Cross and the University of Richmond remain strong. Why? Because they have well-established reputations and strong brand ambassadors who help with recruitment efforts and endowments.

It got me thinking that community hospitals could learn a lot from these schools. Here are some key learnings:

Focus on What You Do Best: Small liberal arts colleges can’t be everything to all people, but they can do a few things really well. The same is true for community hospitals. Maybe you have a great maternity department or orthopedics program. Be known for a single service line and let it serve as a halo for your other services.  

Know Your Customers: Having worked at a small women’s college, I know colleges have an intimate knowledge about the types of students they attract, including their strengths and weaknesses. Community hospitals need to have the same kind of knowledge about the communities they serve. Maybe your community has a large number of people who die from cardiac disease or maybe your town is located near a ski resort and has a large number of people arriving in your Emergency Dept. with broken limbs each winter. Knowing this information can help you design programs that can dramatically improve the health of your community.  

Serve as Community Resource: Small liberal arts colleges serve as cultural centers for the communities they serve, bringing in national speakers, plays and musical groups. By the same token, community hospitals can serve as a healthcare resource for their community. Your medical experts can use blogs or community talks to address specific health issues and teach people how to live healthier lives. They can also use social media like Twitter and their Facebook page to share health information and become the place people go to for health information.   

Provide Personalized Experience: One of the reasons people like to attend smaller colleges is they want the advantages of smaller classes and individualized attention. The same is true for smaller hospitals. People want to have their doctor’s office return their calls, receive personalized care and to put it simply, people want to “go where everyone knows your name.”   

Leverage Your Alumni: Key to the success of any college is the strength of their alumni association. They not only provide valuable funding, they also provide valuable references and help recruit future students. The same is true for hospitals. Your patients (and your employees) serve an important role as donors and brand ambassadors.   

Adapt to Circumstances: Over the years, many liberal arts college have had to adapt to a changing environment. A number of women’s colleges, like Vassar College and Mary Washington College (now the University of Mary Washington) have gone co-ed. Others have reinvented themselves into “professional colleges,” adding business, communications and allied health programs. Community hospitals are also need to adapt, whether it’s adding new programs to meet community needs or evolving from a “community hospital” to “regional medical center.” Didn’t Shakespeare say that “a rose by any other name would smell as sweet?”

Community hospitals play an important role, serving as the economic engines for the communities they serve. By taking a page from the higher ed playbook, community hospitals can continue to be relevant and survive in today’s increasingly competitive healthcare environment.

Photo of Vassar College courtesy of milkpeony.

 

How to Increase Social Juice for the Fresh Produce Industry

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My inaugural post on the Buzz Bin comes with over 10 years experience promoting fresh fruits and vegetables to retail, foodservice and consumers. While the tactics in the past decade have changed drastically, the strategies behind them have been surprisingly consistent.

Every company is looking for a way to get its slice of the social media pie. The new media offers many enticing qualities, including its low cost of entry and ability to connect directly with consumers. For the fresh produce industry, operating with limited resources, it is no different. Whether a brand or a commodity group funding a generic marketing program, the goal of getting people to eat more fresh fruits and vegetables is a noble one, but one overshadowed by powerful consumer brands with multi-million dollar marketing budgets. While social media offers low-cost alternatives to national ad campaigns, it still requires a commitment of resources and sweat equity. Despite all its good intentions, the fresh produce industry’s foray into the social web still requires understanding and strategy to be effective.

The slow adoption is evident in a recent story by the Produce News, a leading industry publication, on usage of social media to promote fruits and vegetables. Some groups are incorporating social tools with their traditional marketing activities. What may be damaging to its future, however, are the blind leaps into the pool. Setting up a Facebook fan page and Twitter account is an easy start, but not a strategy. Without a plan, achieving measurable success is a Herculean feat. This makes it easy for the naysayer to dismiss the value of social media and direct resources to traditional areas that have delivered ROI in the past.

In any industry, a successful strategy starts with listening. At CRT/tanaka we always recommend a social media audit to take the pulse of the social web and have research to justify your strategies as you secure buy-in from the top. Some of the concerns you are likely to encounter were discussed previously on the Buzz Bin. Here our four steps to develop your plan and build a community.

  1. Listen and Learn—You don’t jump into a conversation with strangers on the street, so why would you online? Conduct a social media audit to learn what people are saying, and where they are saying it. Combining resources like Radian6 with free online tools provides data to analyze the current conversation and identify opportunities.
  2. Plan—State your goals and use what you learn from the audit to craft a strategy using the right tactics to achieve them. Facebook may seem like the place to be, but not where your consumer is. Don’t be locked into a tactic or tool before you start.
  3. Execute Openly and Honestly—Putting yourself out there may sound like a risk, but the greater risk is always your absence. It is easier to talk badly about a person when they are not in the room. If someone has concerns or is speaking negatively about you, ignoring it isn’t the answer. Honest engagement and sincerity will win more people over, and bring advocates to your side.
  4. Evolve through Community Collaboration—Listen to your community and respond to what they are interested in talking about. Let them take ownership in the conversation and contribute in the direction it goes. You still want to steer the ship, but don’t be afraid to go a little off route to pick up some new people to bring along for the ride.

While these steps can benefit any industry, I have learned that promoting fruits and vegetables offers unique challenges. The seasonal nature of fresh produce can restrict investment in a year-round effort, which is demanded in this media. So how do you get community activity to spike to time with your sales window? This is a challenge that has been brought to me numerous times, and I’ll highlight successful tactics in future posts.

With the increased interest in health and wellness and a growing awareness of the impact of our diet, the social web is primed for leaders to move the conversation forward. The audience is hungry for information, and shared experiences can provide the motivation for late adopters to get on board. I’ll discuss specific tactics and additional uses for crisis communications and B2B development in future posts, so stay tuned.

Image credit: Fresh Fruit Juice courtesy of Bianca Gubalke.

 

Despite Declining Circ, Don’t Discount Newspapers

By Mike Mulvihill

Today’s figures released by the Audit Bureau of Circulations contained more bad news for traditional newspaper circulation – but if you look a little closer, all the news isn’t bad.  OK, well it is bad for traditional ad revenues.  But let’s do the numbers first and then talk.

According to the ABC report, overall average paid daily circulation fell 8.7 percent year-over-year for the six months through March. That was better than last fall’s numbers, which were down 10.6 percent year-over-year. On Sundays, circ was down 6.5 percent compared to a 7.5 percent drop in 2009. Except at The St. Petersburg Times, which was the only newspaper in the top 25 to record a Sunday circulation gain. (Anyone care to wager a guess that isn’t reminiscent of a Miami whine joke?)

Of the top 25 dailies, 10 fell by double-digit percentages. Two dailies fell by more than 20 percent: The Dallas Morning News (down 21.5 percent) and the San Francisco Chronicle (down 22.7 percent). Meanwhile, The Wall Street Journal was the only pub to record a year-over-year gain (albeit a paltry 0.5 percent rise).  Journal circulation was boosted by an unusually large e-edition circulation (414,025) nearly four times that of runner-up The Detroit Free Press, which grew e-circ when it encouraged subscribers to switch to e-editions when it cut home delivery of the cellulose edition to three days.

Just a year ago, the Journal and USA Today were running almost neck-and-neck. Now the Journal’s paid circulation exceeds USA Today’s by over 265,000. 

But buried in the report was some encouraging data on e-editions. The number of daily electronic editions sold by the newspapers at the top of the category rose 40 percent! The top 25 papers in the category accounted for more than 1.36 million electronic subscriptions in the six-month period ended March 31, 2010, compared with 974,000 for the same period of 2009.

The Wall Street Journal was at the top of the e-edition class with the aforementioned 414,025 e-circ.  A mighty, mighty number, which exceeded the total of the next six papers combined; the Detroit Free Press, 105,210 (separately, the Detroit News reported 52,516), and the New York Times, 90,934 (more than a 100 percent increase versus 2009).  The stats get a bit abysmal the lower in the list you go: the lowest six papers range between 21,733 and 23,305 e-edition subscribers. And, when combined, numbers 11 to 25 collectivley don’t even break 390,000. The e-circ count includes digital replicas, online-only subscriptions, Kindle subscriptions and products like Times Reader.

Even more encouraging was recent data from Scarborough Research showing that nearly 100 million adults continue to read a print newspaper every day and 168 million read a newspaper in print or online in the past week.  Furthermore, the latest Nielsen Online data indicated that newspaper websites scored a record 74.4 million unique visitors per month on average in the first quarter of 2010 – more than one-third (37 percent) of all Internet users. 

 Yes, one in three Internet users look at a newspaper online or in print every day.  No, it’s not the engine that drives a media relations strategy any more, but if you’re looking to make a splash for your company or your client, don’t discount newspaper coverage.  They ain’t what they used to be, but newspapers are still a critically important component of a successful PR campaign.

 The dilemma for newspapers is how to generate revenue off all that electronic readership before they waste away to nothing. Everyone out there willing to step up and pay for newspaper content raise your hand.  I thought so.

 

Image is Everything

A picture is worth more than a 1000 words, especially when it is an image that invokes memories. In social media, image is everything and the first perception of credibility is conveyed through your avatar. If you put your best foot forward in the real world – why not do the same in the digital realm? So what’s the point of using your face? Because it makes it personable and real; in the online world this is crucial unless you’re in witness protection.

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Branding is a simple and powerful tool. It will make or break the value of your service or product, long before you sell the service or product to the customer. In social media it’s proven that personal connection is the motivation for use. This was illustrated by Renee Warren in the face behind your brand:

When I say Elmo, you think… Sesame Street.
When I say Miss Piggy, you think … The Muppets.
When I say Steve Jobs, you think …Apple.

The visual association just goes to say that the first image your audience will see may not be your official brand. So how does this affect your avatar? The face of your business will be who your audience expects to associate with. The risk being that there is a fine line between transparency and promotion. You may wonder how do you do this? It’s simple: be human. Any deviation from a honest representation of your brand will unleash backlash.

From a technical perspective, How to Take a Great Social Media Profile Picture in 4 Easy Steps lays out the technique to make that perfect picture match your personality. Just remember to keep it fun and recognizable.

 
 

Bring Back Storytelling. Just the facts = #epicfail

One of the evolving trends post-apocolypse is a renewed interest in storytelling, and it’s with good reason. The facts don’t suffice — never did.

Executives are on the hook for a lot these days, having to stand up for all that happens in their organizations and certifying that everything adds up to those numbers you see in the financials. Capital ratios, loan loss reserves, bad debt, sales volume and a host of other “data” have been substituting for the story, and the result has been an epic failure.

The art of PR has always required storytelling, and in a world of increasing compression (Powerpoint; Twitter anyone?), the practice is under attack. Add to the mix our pals the lawyers and the accountants who have taken over much of what passes for communication, and you are left with a world in need of coherence and in possession of 140 characters, a king’s ransom in bullet points and the dry, just-the-facts rest. One more disturbing trend is the slimming down of newpapers and magazines via the internetification of news and commentary.

First, there’s the big picture storytelling. Steve Denning made his reputation in part by helping leaders learn the art. PR counselors could do worse than buying the leader of their organization or client his book  The Leader’s Guide to Storytelling: Mastering the Art & Discipline of Business Narrative. An important element of the plan to increase the storytelling quotient in organizations is to help the leaders deliver the stories. Denning has recently posted some audio from a storytelling program at the Smithsonian symposium, among other interesting comments. He’s even been accused recently of abandoning the storytelling horse that brung him and saddling himself with management speak, so worth a read!

But, there also are some other things we should collectively pledge to do something about. Maybe we should start with presentations. Cliff Atkinson argues for better presentations in his Beyond Bullet Points, and his blog covers the front on creating better presentations, including interviews with others. As a guy who has suffered through some of my own presentations (and watched others who follow the “just read the slide” mantra), I’m in.

Another place to exercise the story muscle is Twitter. Kathy Hansen’s blog A Storied Career, takes a look at storytelling related to career advancement, and has given some attention to the story-as-tweet(s) possibilities. Smith Magazine’s Six-Word Memoirs series is currently fascinating me again, and the discipline of documenting you life in six words is a good challenge. I am amazed by the inventiveness of the writers. One example of advice to President Obama in the Six Words to Inspire a Nation series: “For every bomb, build a school.”

Headlines that serve as labels are also places for story telling. Which is better? “Acme Widgets Announces Earnings” or “Acme Widgets Sales to Asia Boost Earnings”? Headlines and story content have, perhaps perversely, been raised to an even more important level in an SEO world. See Cindy Kim’s post Why Bad Healines Can Kill Good Content, for tips to improve your story’s ability to break through.

Whether we PR advisors are helping executives tell stories to influence and persuade employees, regulators, analysts or shareholders in a turbulent time, balancing details with inspiration in change initiatives, creating more collaboration in the workplace or using storytelling techniques to build better leadership behaviors, the place to start is with our own communications . Applying our talents to even a few of these areas will go a long way to creating trust and relationships with our audiences.

 

U.S. News’ Rankings Are a Popularity Contest: What Hospitals Should Do Now

By Jenn Riggle

When the Annals of Internal Medicine broke the news this week that the hospitals selected to appear in U.S. News & World Report’s listing of America’s Best Hospitals are selected based on reputation, rather than quality scores, it confirmed what many have always suspected: The U.S. News’ rankings are basically a popularity contest.

But it also reinforces the importance of using national media relations to build your hospital’s reputation. Getting stories on your local TV station and newspaper and promoting your great HCAHPS scores is not enough. To be considered, your hospital needs to be a household name – and national media relations is one of the best ways to make this happen.

Dr. Ashwini Sehgal, author of the study and director of the Center for Reducing Health Disparities at Case Western Reserve University, states that 75 percent of the ranking is based on reputation and “there is virtually no relationship between reputation and quality of care.”

According to Paul Levy’s article in The Health Care Blog, the journal reported that the rankings are determined by asking 250 specialists to identify the 5 best hospitals in their specialty. This means that nationally recognized hospitals have a leg up on smaller or regional hospitals – even if they have excellent quality scores. He goes on to say that “high rankings also may enhance reputation, which in turn sustains or enhances rankings in subsequent years.”

This has huge implications for hospitals, which have been focused on patient satisfaction and quality scores. Don’t get me wrong – these are important. But they alone probably won’t get you on the list. And remember that the country’s leading teaching hospitals probably also have great quality scores, and have a much better chance of making the grade.

So what can you do? The best advice is to be proactive. Help raise your hospital’s visibility by securing stories about the steps you’re taking to improve clinical quality in hospital trade publications – particularly publications physicians read – as well as national media, such as The Wall Street Journal or The New York Times. Secure bylined articles and speaking opportunities for your clinical leaders to talk about the great work you’re doing. It might be slow going at first, but once you’ve secured a couple of key stories, it’s easier to land the next.

Last year, The Cleveland Plain Dealer wrote a great article about hospital rankings which revealed that hospitals spend a lot of time and money trying to make the America’s Best Hospitals list. In fact, big hospitals often reach out to the specialists who vote for the top hospitals with professional mailings and conferences, hoping to win votes.

However, while U.S. News’ ranking may be best known, the Centers for Medicare and Medicaid Services (CMS) rankings are probably the most important in the long run. It collects and publishes performance data on its Hospital Compare website, as well as adjusts hospital reimbursements based on this data. Today, CMS collects data on 40 measures, which focus on how well hospitals perform a variety of tasks that affect patient outcomes, which is ultimately what consumers care about.

Smaller hospitals can take some comfort in knowing that while they probably won’t make the U.S. News’ rankings, new quality programs may help level the playing field. But as we all know, perception is reality.

Photo credit: Niervadotcom of Caressa Cameron, Miss America 2010

 

Leaving The Experts Behind

When the cool kids hint at a direction, all the sheep will follow. The hot trend right now is talking about how a particular big network is old news and the “expert” is moving on. With Twitter all a buzz about how traffic retention has been a problem, it is interesting to see the swarm start raving about how the new features will change our communication style or critique the change. So where does this take the conversation?

While it has been shown that social media is vital for a modern brand, the majority of participants online are still consuming instead than creating. I think it is time we redefine a participant. Currently the idea of participation means engagement within the network, because it’s an easy measurement, but the consideration of a lurker is lost in the assessment. Consider this discussion between Seth Godin and Loic Le Meur on why he doesn’t use Twitter or Facebook.

http://www.youtube.com/watch?v=Q6vpBDFoMqc

Prepare for the shocker: Transparency” by social media be damned, especially if it doesn’t make viable sense in the long run.

So how do we capture the lurker? My dad, who is a former mechanical engineer with an illustrious career, doesn’t have a Facebook account nor does he care about Twitter.  He can barely operate email, but he gets the Internet. He doesn’t use traditional media for product research, he’s a mixture of the old school detective and modern digital spy. He bravely does what we’re afraid of – picking up the phone to talk to a live person and hunting down information online without a second thought. So how do we track someone who is virtually invisible online, still surfing like it was 1998, but using all the information data tools to participate?

http://www.flickr.com/photos/codearachnid/3592774683/

To use my dad to further the point – he doesn’t care about branding, microblogging or lifestreaming. But he will find anything you publish that he’s interested in. He won’t write a blog post (doubt he’ll ever see this one), participate in a forum or leave a comment. Yet I can guarantee that he will talk to his friends in person about what he’s found. So how do you capture this segment of the online participant, and what do we risk if our only communications are through social media?

Even if it were possible to measure everything online, business is still driven by human behavior. Human behavior is not definable as a one-to-one relationship metric where the tracking the of causes and effects line up perfectly.

Social media is great, but your first responsibility is to be great at what you do.” Ideally the latest trend in social media: leaving it, should help us focus on where the priorities are.

We know Facebook is a time suck, Twitter eats away at your day 140 characters at a time and how many videos do you watch before pulling yourself away from YouTube? There are not enough hours in the day to deal with the different networks and there will be more added to the inventory every week. So why then is social media still pushed as a cure-all for every communication strategy? It’s an easy sell, if everyone else is doing it why get left behind? With the buffet of networks available its pretty hard to find a niche that isn’t covered, even NASA is using social media.

 

Mad as Hell

by Mike Mulvihill

In preparing this post, my research found hundreds of blog posts regarding last Friday’s SEC suit against Goldman Sachs (i.e., deceitful, if not illegal, activities in the mortgage securities market debacle that brought on the recession we appear to be just exiting).  And now today’s news, which has generated over 1,000 posts  – a Pew Research Center report “Distrust, Discontent, Anger and Partisan Rancor” –  that may portend the Goldman Sachs case will be the mother of all crises for Wall Street’s elite firms.

 According to the Pew study, “By almost every conceivable measure, Americans are less positive and more critical of government these days. (The) survey finds a perfect storm of conditions associated with distrust of government – a dismal economy, an unhappy public, bitter partisan based backlash and epic discontent with Congress and elected officials.

 “Rather than an activist government to deal with the nation’s top problems, the public now wants government reformed and growing numbers want its power curtailed. With the exception of greater regulation of major financial institutions, there is less of an appetite for government solutions to the nation’s problems – including more government control over the economy – than there was when Barack Obama first took office.”

While Americans oppose greater government control over the economy by a margin of 51-40 percent – a reversal from just a year ago, when they supported greater government control by a margin of 54-37 percent — there’s one big exception. A solid majority, 61 percent, do want greater government regulation of the financial industry, something that Obama and the Democratic majorities in Congress are pushing now.

And that makes the Goldman Sachs revelations an even more onerous crisis for Wall Street.  Keep in mind, the Pew survey was conducted in late March, weeks before the early April Goldman news. If the survey were repeated today, you could bet the farm that major financial institutions would be more dimly viewed.

 Most of the posts about the Pew research simply confirm the very frustration America has with our elected officials (Republicans point the finger at Obama for reduced trust in government and Democrats focus on the high level of frustration American’s have with Republican obstructionism in Congress). 

Regardless of party affiliation, incumbents might want to get their CVs updated  as only 43 percent of voters want to see their congressional representative get reelected this fall, “a record low point in the 16 years since Pew Research first began asking this question, and a significant drop from the already-low numbers seen last month.”

Back to Goldman, the new poster child for Wall Street, the evilest-doers among the evil-doers that seem to be one of the few things Americans can agreed upon. The latest news indicates that those involved at Goldman were rewarded monetarily, given promotions and that senior/executive management knew what was going on – when it was going on.  In essence, they made money by betting mortgage backed securities would fail while they marketed those securities to unsuspecting pension funds and other institutional investors who invest the retirement account funds of average Americans. 

 But this will be an interesting one to watch play out.  While Goldman is greatly concerned about its reputation, it is really only concerned with what large investment managers think. Except for individual investors holding Goldman’s publicly traded stock, the investment banking firm really doesn’t do much business directly with the American public. As a result, Goldman’s crisis management is likely to be less focused on news media and the public, and more so on personal communications between firm personnel and a couple of  thousand high octane institutional investors.

 But take stock in one last Pew survey statistic, respondents who say they are angry with the federal government (21 percent) have doubled since 2000 and match the high reached in October 2006 (20 percent).  With all that anger floating around, it really does suck to have a big target painted on you like Goldman and Wall Street now do.  Can you say financial industry reform?  Why, yes, I believe we all can.