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It seems like just yesterday we were all bracing for the end of the world.
It was on the tip of seemingly everyone's tongue... articles were written, advisories were issued, blog posts were posted, candles were lit... it was this IR generation's "Y2K" and - at the time - it seemed scarier than a Willow Smith song.
Looking back today, all the tumult seems kinda cute if not plain ole silly. WHATEVER HAPPENED TO... THE FIFTH ANALYST CALL?
Remember that radical idea of talking to investors about the various components of the proxy material? It was THE hot topic this time a year ago and both sides of the argument seemed pretty hot under the collar about it. Then - quicker than you can say "web disclosure" (note to Mike O'Brien: this is not a reference to any previous, current or future product of yours) - the conversation was over.
Don't tell me we're already hanging up on this idea. I always liked the idea if, for no other reason, it seemed like a good wake-up call for companies as to how to focus their IR efforts.
Anyone planning on having a fifth analyst call with investors this year? Any takeaways from the fifth analyst call concept that you are applying another way to the proxy solicitation process?
Brothers and sisters... we have gathered here today to talk about the power of the letter!
When handled properly, this power can galvanize people, shape perceptions and manage expectations. This power knows no geographic boundaries. This power knows no technological limitations.
This power comes from inclusion, not exclusion... from looking ahead, not looking down... from aspiration, not recollection... the power of the letter comes from building, not from justifying.
Do you have this power?
If you have to think about it for more than a few seconds then you probably don't. And that's a shame because the power of the letter is within your grasp... shoot, for many of you, it's within your control.
Click here to learn how you can capture the power of the letter. Remember, more investors will read this piece than will meet with the CEO in a given year. Therefore, it is critical that this section of the annual report be crafted carefully to maximize its potential impact.
Now that we've all (hopefully) had a chance to look back on the year that was, it's time to turn our attention to the year that will be. IR Magazine recently asked yours truly - along with some truly knowledgeable folks - what will be the biggest test for investor relations in 2012. I thought it was managing investor expectations for future financial performance and use of cash in a still-volatile market. (You can get the "full monty" here.)
As you look ahead, what do you think 2012 will bring?
A few of you have asked why there were no "Robbie" awards handed out in 2011. Well... there's a good reason, it's because... ummmmm... well, the reason is that... ah... okay, there's no reason other than operator error.
So... let me start the New Year on the right foot and hand out a first-ever Robbie for the Best Holiday Card Not Designed by Dix & Eaton.
(drum roll)
I don't know about you, but I thought there were a lot of really sharp cards this year - both print and electronic. By and large, the designs were clever and the messages were much more upbeat than the recent past. That said, of the various cards I received (and thank you for those of you who had an extra card to send me), there was one that made me literally LOL and immediately pass along to others so they could enjoy as well.
Therefore, without further ado, the first-ever Robbie award for the Best Holiday Card Not Designed by Dix & Eaton goes... Collier Creative (which I believe is "Austrialian for Mindblowing Design") and this hilarious card still makes me laugh.
If there was a better business holiday card, I didn't see it. Did you get any holiday cards at work that should be in the running for this award?
As I start to shut down the engines for the holidays, I wish each of you the happiest of holidays and a healthy New Year. I look forward to swapping ideas with you in 2012.
A few weeks ago, I was up on my soapbox ranting about IR tools and how they were only as strong as the IR content they delivered. I'm sure to some I came across as a technophobe who prefers typewriters to computers, VCRs to DVRs and vinyl records to MP3s (okay, this last one is actually true but we'll save the topic for another day).
I fear I came across a bit "Suh-esque" and, in so doing, misrepresented myself with regards to IR and technology. For that, I apologize. I am not a technophobe. Shoot, I'm not even a technology hater. I absolutely embrace the opportunities technology offers IR - some of which, frankly, are long overdue.
For example, take a look at this piece on Coca-Cola and Best Buy.
I. Love. It.
This is such a smart application of technology in the IR space. Among other things, it ensures that IROs and the senior management team will hear all the voices that wish to be heard and not just those that speak the loudest (typically through SEC filings) and claim to speak for all investors. For those of you who have been in a contentious proxy contest, you know full well how important that perspective and input can be. Putting such a mechanism in place can also further demonstrate their commitment to listening each and every shareholder.
What's not to like about this?!!? No. Seriously. What's not to like?
I feel like I've spent the better part of 2011 reading articles just like this - another day, another plea for someone/anyone to pay more attention to corporate reputation as part of enterprise risk management.
Don't get me wrong - I absolutely agree that managing and measuring reputation is critical (Shoot, I work for a firm that has a whole practice dedicated to just that so I better like how that Kool-Aid tastes!)... and I also agree with most of the recommended steps being bandied about.
I guess I just don't understand why so many articles covering the same ground are required.
To the best of my knowledge, no one has come out and said, "Managing reputation is a terrible waste of a time for a leadership team or for its board of directors." Maybe I missed it but I've not seen anyone deny that reputation has a meaningful impact on a company's stock valuation. Similarly, I haven't seen any trailers for a new Michael Moore movie called "Reputation: A Fairy Tale" or read any reviews for a new Stephen Colbert book called "Your Reputation Is What I Say It Is (And You'll Like It!)"... so why so many articles on the need to manage reputation? Who are these people who think managing reputation is not important?
This installment of "Whatever happened to... ?" is personal. No, I don't mean in a grudge match sort of way. I mean a human, individual sort of way.
It's about reconnecting, not re-examining. It's about real life, not best practices. It's about concern for fellow man, not theorizing on trend trajectories. It's about... well, you get the point... so here's the question at hand:
Whatever happened to... wait for it... Mr. "Meet the Street" Dan Dykens?!!?
It doesn't seem that long ago that Dan was hard to miss. He was tweeting really interesting information and opinions (and not just on Notre Dame football or all-things Boston Red Sox). He was making presentations. He was being quoted in articles. He was working the NIRI Conference showcase like a seasoned politician. Whatever it was, I felt like I was talking to Dan on a weekly basis.
Now... not so much except for a rare comment every once in a blue moon.
I miss the big lug. I feel like I want to contact Miss Cleo or one of those firms that advertises their ability to help you find lost relatives at the end of the Maury Show.
If you see him, tell him I said hi.
Last week, I had the opportunity to participate in NIRI's webinar on the annual shareholder letter. Given that it's generally the season for ramping up this "annual" project (pun intended), I thought I'd pass along my slide deck, which delineates some do's and don'ts - among other things - that might be helpful. Anything you'd add to either list?
(If you get a chance, try to find the replay of the panel as my fellow panelist - Moriah Shilton and Karen Fisher - were REALLY good.)
Move over Gord Downie, I do believe there's a new voice of Canada... a new Wheat King so to speak... and it goes by the name of Terence Cororan.
According to Mr. Cororan's recent article on "Say on Pay," the role of the Chief Executive Officer is transforming into the Chief Bureaucratic Officer quicker than you can say "day for night"! I honestly don't remember ever seeing an article that tossed so many well-aimed road apples at this subject. For example, check out this unplucked gem:
"Shareholders who have no idea will tell boards what to do, and then rush for the no-responsibility exit. What happens when know-nothing shareholders vote against the CEO’s pay package, prompting the board to curb the CEO’s pay and the CEO to move elsewhere? Will the same shareholders then try to sue directors for carrying out the shareholders’ advice?"
Though better boats been done by less water, I seriously felt like my spine had been cracked like a whip when I read this piece. Clearly, this is not a guy who knows the dim possibility of showing some restraint. No sir. Mr. C brings it like a polar bear looking for his promised hibernation high... like a guy who wants to earn his fifty-mission cap the old fashion way. Now, I don't know how old Mr. Cororan is but I don't think his point of view is generational. I didn't read this and think "Oh no, here's a guy who's waiting on the trickle down to come back in vogue." Rather, I took it as something akin to when the powers of observation comes to the periphery town. Frankly, in this path-of-least-resistance era - whether you agree with him or not - you have to admire his courage to take such a bold stance.
Thank you, Mr. Cororan, for reaffirming my belief that all the good ideas and critical thinking are coming from Canada these days. After reading your refreshingly frank words, something down deep inside me says, ‘Where ya been all my life.' I hope you'll be writing on this subject again soon... sure, the kids don't get it and that might impact sales a bit but don't put it off for too long as this debate needs your voice.
(And - hey man, thanks - Gord for everything else. You're still ahead by a century in my book... with grace, too.)
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