Vivek Wadhwa writes for MarketWatch.com about why corporate executives should talk to the business news media.
Wadhwa writes, “In my first company, Seer Technologies, where I was chief technology officer, we shied away from the media. We watched every word and were guarded in front of journalists. The only times we granted interviews were when we had good news — deal closures and product announcements. If something went wrong or the press asked about customer problems, we went silent.
“When Seer filed for its IPO in 1995, the North Carolina press was eager to cover us because we were a rare local success. But, rather than establish relationships, our management team decided to take the advice of our investment bankers and refuse all interviews. We even refused a cover story for a national technology magazine — after the editor had travelled to interview us.
“As a result, after the IPO, the only news that the local business journal reported was about our salaries, which it suggested were excessive. And when the company got into trouble, it made front-page news. The coverage was negative all the way.
“In my second company, Relativity Technologies, of which I was CEO, I took a different tack. We opted for openness and full disclosure — of the good and the bad. We were always in the news about our successes. And the coverage was sympathetic when things went wrong.”
Read more here.
