Bank of England, Lloyds and Halfords drown in corporate PR headaches
Well hello there, my first ever witterings on this, my weekly column, for the ever-glam Drum magazine. Before I unleash my thoughts on this week’s corporate PR headaches and celebrations there are a few things you should know so we start on the right foot.
Does anyone want Mervyn King's job?
I am regularly wrong, but fortunately, I am the first to admit this and fast to rectify my errors. Secondly, my “research” is often more flakey than a teenager doing their essay research, so just keep this in mind as we take a jolly romp through the world of corporate PR.
Oh yeah, and I used to work in the god-awful-dull world of corporate PR, for several brands, thanks for asking. I decided to co-form an agency having been, quite rightly, "found out" at not being very suited for the corporate world. Best leave that there.
Comment away, the more abusive the better, but don’t be expecting a corporate reply. I am a person who has survived an online attack from a well known and well respected terrorist group (they have a very slick PR machine by the way) and one Liberal Democratic hate group (no really) so I am well prepared.
Moving on, the poor old PRs from the Bank of England are drowning in a sea of “I’m Out” from every potential new suitor for the esteemed position of the Governor of the Bank of England. The PR headache comes from the fact that the job application process is seemingly being played out in the media.
Applicants are being suggested left, right and centre from the business pages of Her Majesty’s members of the Press Corps and we have yet to see any attempt to steer the discussion or media focus.
The deadline for job applicants had until 8.30am on Monday to get their CV in, but Gus O’Donell, formerly a very important civil servant, made it clear, in comments to the FT, that he did not want the role.
Insiders say that this is now a two horse race between Paul Tucker, Bank Deputy Governer for Financial Stability and Lord Turner of FSA fame.
I can only imagine that the BofE PR team is praying it is not Paul Tucker, given his recent foray into the limelight going so spectacularly wrong at the hands of the Barclays Libor shenanigans.
When Mervyn King heads off into the sunset, he will no doubt share a white wine spritzer with David Wild, the former head honcho of Halfords. Wild went off to forcibly spend more time with his family just a few days before the Olympics, after preaching that Halfords results would turn around after the Olympics. Shock horror, the recent results for car and bike bits retail giant went the Wild way, and a few media outlets picked up on this.
Finally, many in the consumer PR world will be grabbing the popcorn and watching our more grown up cousins in the world of corporate PR as a war plays out in the media between Lloyds and the FSA. Lloyds wants to pay a dividend to signal its return to growth whereas the FSA, the people who had to help bail the bank out in the recession, tell them to cease and desist with all dividend thoughts in case the Euro goes tits up.
Neither side is going public with any direct quotes to the press but there is clearly more behind the scenes briefing going on than in an X-Factor judge-scripting meeting. You see, I can do topical! Personally, I think Tulisa should have been voted off? Is this my Gordon Brown Arctic Tuesday moment?
Andy Barr worked for a number of financial institutions, including AXA and Chelsea Building Society, and in a number of senior PR roles for the likes of FirstGroup before co-founding 10 Yetis.