Random musings from some weekend reading:
Of course at the Oscars and at other celebrity events, brands will pay celebrities for associations. “There’s a hugely evolved culture of paying to wear clothes and product. Some actresses sign four-event contracts to wear designers, with giant perks and huge money,” says a Hollywood insider. It’s quite true that those who know won’t speak specifics – but it absolutely does happen.
Richard Edelman is one of the few big PR Agency CEO’s who gets it – and I found this article from an India paper to be a great read. “I differ with the traditional view of public relations as image and message manager. Smart PR is sitting at a table in the C-Suite advising a company what the policy for the firm should be. When you have the appropriate policy, the communication follows. There has too often been a divide between what you do and say. And it is not good enough any more to say smart words. You have to have smart deeds. The big difference in the post-2008 world is that trust in business has fallen substantially.”
Even the normally reclusive private equity industry – similar to those that explain how a lifetime mortgage works – now understands that everyone today is in the world of public relations – “The Private Equity Growth Capital Council released a video detailing Blackstone Group’s purchase of The Detroit Medical Center in 2010 through platform company Vanguard Health Systems Inc. and the firm’s subsequent $850 million investment to fund capital improvements. The video and attached press release said the investment is expected to create about 5,000 construction jobs, as well as have a “lasting impact on the city of Detroit.” The video is part of a series of steps PR firms are taking for the private equity industry as part of a campaign known as “Private Equity at Work.”
Ronn Torossian is CEO of 5WPR, a leading US PR Agency.
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