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Friday, April 23, 2021

Killing Reputation  

 JP Morgan says it misjudged the appeal of the proposed European Super League -- an idea that collapsed in two days after its announcement.  Football fans, politicians and even royalty were outraged and bombarded the media.  Eight of the 12 teams bolted for the exit and the marketing plan went into the toilet.  JP Morgan has learned how to kill one's reputation. It was the only bank that had agreed to fund the new venture and it found itself the target of anger and calls for boycott.  The bank has said it will learn from this but will it?  The article plunges the knife deeper into the company by quoting its CEO, Jamie Dimon, who has called for banks to consider a wide swathe of society in their endeavors.  Apparently, no one took the temperature of soccer fans before giving a $4.2 billion grant to the 12 clubs.  It was a dumb move in retrospect and the bank will have to live with it.  


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