Tag Archives: GM counters myths

United stock crash and GM "fact and fiction" site provide lessons

Two things caught my eye while enjoying the Napa wine country. Both involve the rapidly changing world of reputation management and instant news. One, United Airlines stock crashed–going from $12 a share to one penny in a few hours–all because someone posted a six year old news story on a website. It bloomeranged from there (pun intended). I wish I had been on the ball and bought some of that penny stock.

The other story is not as sensational but still significant. GM launched a website aimed at confronting directly the numerous myths, attacks and accusations against the company and how it is meeting its severe business challenges. The website called GMFactsandFiction.com is simply constructed, listing a myth and the GM response. The current lead myth is whether GM is seeking a government bailout.

The point is this–life comes at you fast, as the commercial states. The instant news world seems to keep accelerating in part because more and more of the instant news world starts and lives on the internet. Devastation can be wreaked in minutes, not even hours any more. What used to take weeks to spread now is global at the speed of light. But the evidence continues to mount that most communicators and more importantly, their leaders, are not prepared to respond as quickly as this new world demands. The United story is one example. Were they monitoring the internet? Did someone not notice the old story? How soon after it was posted did United have a rebuttal very publicly posted? Did United have the capability to head off the storm before it gathered momentum by proactively releasing a notice about the false information. Did no one contact the Florida paper and inform them of their stupidity and how their irresponsibility was creating huge damage? In short, were they prepared to go to battle instantly, gather intelligence instantly, and get proactive and on the offensive instantly. Quite apparently not.

Not to say that GM is, just by this website, but it does seem to show that someone at GM understands the dynamics of internet conversation. The conversation goes on, like it or not. It cannot be stopped. And one thing is certain about this conversation–a lie repeated often enough becomes the truth. That’s why it is essential for companies at the center of such internet conversations join in on them, have their own clearly identified voice, ALWAYS ALWAYS ALWAYS speak the truth and nothing but the truth, and aggressively counter the lies, attacks, myths and misinformation. This is good stuff. I think I will buy some GM stock.