Tuesday, March 03, 2015
Once upon a time, nearly every media training session included a reference to CBS' "60 Minutes" news magazine. It was a boogeyman that spurred corporate executives to work hard and understand how to handle hostile TV interviews. Today, it isn't what it once was, but it can still pack a punch. Consider this case. An airtight "60 Minutes": expose of Lumber Liquidators has crushed the flooring company's stock. It makes no difference that the company claims the program used the wrong testing method. The damage is done and the company faces hundreds of millions in fines and settlements. The harm to its reputation could destroy its business. Why? Because the company failed to keep a close check on its Chinese suppliers. It is a fundamental principle of PR and marketing that one deliver a product that is what it claims to be. Caveat Emptor is a poor way to do business and an invitation to "60 Minutes" to visit.