John Kerans

Einhorn vs. Lehman: Lehman Will Lose

Re: candor and media relations and Lehman Brothers ..

About 20 years ago, while in charge of media relations for clients of a big ad agency, I got acquainted with Herb Schmertz, boss of PR for Mobil Oil.

Here was his advice to the public companies of the world:

"To be believed in the good times, you must be candid in the bad."

Some of the smartest CEOs in the world believe they can stonewall reporters and get away with it.

That stonewall approach tends to make a bad situation worse.

For more on Schmertz, you can still find his book: "Goodbye to the Low Profile."

John Kerans
Lecturer in Advertising
Fontbonne University
St. Louis, USA