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Temin and Co.

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"Gynecologist’s Actions Bring Down USC’s President" 

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"Harassment Claims Cost Wynn Resorts its Leader" 

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"NBC News Faces Questions After Lauer Firing" 

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"Equifax Hit With Massive Reputation Breach" 

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"Fujifilm Addresses Accounting Problems" 

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"Hacked Twitter Account Gives McDonald’s Indigestion" 

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"Qualcomm Chips Away at South Korea Probe" 

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"Tyson Finds Itself in Game of Reputation Chicken" 

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"Delta Grounded After Computer Crash" 

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"Signet Confronts Diamond Debacles" 

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"NFL Goes for Knockout Against New York Times" 

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"OSI Fights Back In China" 

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"Tesla Slams the Brakes on Seat Belt Problem" 

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"United Airlines Faces Turbulence Amid Federal Probe" 

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 "Accounting Problems Hobble Toshiba" 

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 "Kiss-and-Tell Fears After Adult Friend Finder Breach" 

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"Ice Cream Recall Snags Blue Bell" 

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"Williams, NBC Between Iraq and a Hard Place" 

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"Sometimes You Feel Like a Nut" 

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"How Well Did Tesco Account for Itself?" 

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In the News-Crisis Management

There’s a ‘Fanatical Group of Worshippers’ in Your Stock. What’s Next?

Lindsay Frost, Agenda, June 28, 2021

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AMC Entertainment Holdings CEO Adam Aron has been actively embracing on Twitter, YouTube and other platforms a new trove of investors who propelled the company's stock price up more than 300% in the past month. The latest Reddit-driven phenomenon has companies reconsidering how to communicate with these investors and encourage them to stick around — especially for those companies that could use the investment to pay off debt and invest in innovations.

The so-called meme stock frenzy, which has led to a deluge of retail investors pouring into AMC, GameStop, Clover Health and the GEO Group, is a hotly debated topic on Wall Street, but for boards overseeing companies that suddenly have an influx of retail investors, sources say it's important to nail down the right messaging, consider incentivizing these investors and use the cash wisely.

"This brave new world of all of these Internet platforms and every person having their own voice has the power to whipsaw pretty much everything we thought we knew, and that extends to the fundamental value of stock," says Davia Temin, president and CEO of risk consulting firm Temin & Co. "The wise board, and certainly the wise company, has to understand what is going on and figure out the way to communicate to all parties in a way that engenders trust." [...read more]

Know the Rules of the Game: Leading Through Crisis & Chaos

Desirée Patno, Know the Rules of the Game, June 17, 2020

We're no longer in crisis, we're in chaos. Here are rules to help you lead – yourselves, your family, company, and community – through crisis and chaos, with honor, integrity, and your reputation intact. From one of the most sought-after crisis strategists in the world.

Desirée Patno, host, Know the Rules of the Game Podcast, is joined by Davia Temin to discuss leading through crisis and chaos.

To download or subscribe to the podcast on Apple Podcasts, CLICK HERE.

In face of coronavirus, bankers apply lessons from natural disasters

John Engen, American Banker, April 29, 2020

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It can be "very dangerous to extrapolate success in one smaller crisis" to a global pandemic, said Davia Temin, chief executive of crisis management consultant Temin and Company.

Katrina roared in with fury, leaving millions of people homeless and without electricity, then left. Banking was done on card tables with paper IOUs, but at least life still went on elsewhere and the path ahead was somewhat clear. It was, in many ways, a unifying experience.

COVID-19's descent was more like a slow, rolling wave, creeping in stealthily from a distance. The physical infrastructure is fine, but the sense of uncertainty and isolation from social distancing promises no short-term exit.

"The situations are totally different," Temin said. "You might have an idea about how to approach things, but generally God and the devil are in the details, and those details are never the same," she said. "If you make a misstep, it could be difficult to disentangle yourself from those decisions." [...read more]

It’s time to face the ‘new normal.’ Here’s how we can begin

Caroline Fairchild, LinkedIn's Working Together, April 15, 2020

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On the night of March 11, Anna Maria Chávez made an urgent call to her CEO. Chávez, who was the chief growth officer of the National Council on Aging, was watching President Trump announce to the nation that travel from the United States to Europe would be suspended. She told her CEO that the council needed to move its nearly 100-person team to remote work, and they needed to do it now. The next morning, no one on the non-profit's staff was in the office.

Chavez's quick reaction didn't come out of nowhere. It was a skill she developed while working as a policy advisor to the Arizona National Guard early on in her career. And that quick thinking is exactly what crisis expert Davia Temin says every leader — and every worker, really — needs to embrace right now.

Whether you're the CEO of a large organization or an employee who is part of a smaller team, it's likely that your job looks very different right now. As we settle into this new normal, the quicker you can get out of denial that your industry, career and role have changed, the better off you'll be.

"The first thing we do is that we say this can't be happening or it won't be that bad or no one will notice and it is just a cascade of denial," Temin said. "The longer you wait in denial, the worse it gets where you can't put in fixes anymore." [...read more]

 

How companies are confronting the unparalleled uncertainty of the coronavirus crisis

Jena McGregor, The Washington Post, April 10, 2020

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When JPMorgan Chase CEO Jamie Dimon released his widely read annual shareholder's letter, he moved most of the typical charts and discussion about the company's performance to the end, focusing instead "on issues that relate to our current crisis."

His 23-page letter explained how the banking giant was dealing with the coronavirus pandemic, detailing different economic scenarios, explaining what it's doing for employees and customers, and discussing the strength of its liquidity and balance sheet. But Dimon also wrote, "We do not know how this crisis will ultimately end, including how long it will last, how much economic damage it will do, or how fast or slow the recovery will be." The "actual new crisis," Dimon wrote, "while it shares attributes with what is being stress tested — is dramatically different from the expected."

In virtual boardrooms across America, managers are confronting unprecedented uncertainty as they try to communicate — with their investors, their employees and their customers — amid the all-consuming scope and scale of the pandemic. Finely tuned scenario plans are being upended, project timelines are getting cast aside and conventional playbooks are proving insufficient as managers face a health and economic crisis with no modern parallel.

In some cases, "we are no longer in crisis management, we are in chaos management," said Davia Temin, eponymous founder of a reputation and management consulting firm. "You can do certain things and mitigate a crisis. This is out of our hands to some degree now." [...read more]

'Sometimes the Crisis Makes the Leader': Andrew Cuomo and Five Lessons on Leadership

Kathryn Dill and Te-Ping Chen, The Wall Street Journal, April 8, 2020

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The nation is watching how New York Gov. Andrew Cuomo is handling the coronavirus outbreak, and it likes what it sees. Here's how five crisis communications experts rate and react to his leadership style.

What America needs now is a field general, says Davia Temin, head of Temin & Co., a crisis-management and reputation consulting firm.

Someone who gives you facts, statistics, someone with a thoughtful, no-holds-barred, unvarnished approach. I'm not sure that Cuomo makes a perfect peacetime general, but he's exactly what we need in a wartime general. He's informed, his sleeves are rolled up, he's walking the talk. He's not abrogating the 6-foot rule just because he's president or prime minister.

His brother's situation has totally humanized him. It's both intimate storytelling and authoritative, and that's a very hard line to walk. I'm not sure I'd want to work for him—the pressure would be unholy—but he's taking responsibility. He's personally been trying to get ventilators, you get a feeling this is a guy in it up to his eyeballs.

In this kind of crisis, dysfunction kills. He has engaged our trust very quickly, and we need it more than we ever have, really. [...read more]

Managing Your Bank’s COVID-19 Communications in Social Media

Steve Cocheo, The Financial Brand, March 19, 2020

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Financial institution marketing is changing rapidly as the nation hunkers down with mobile devices, laptops and connected TVs. Isolation, working from home and more screen time than ever puts more importance on what banks and credit unions say on social and how they say it.

Something that can be reassuring to both consumers and businesses is a demonstration that "we've got your back."

"Banking institutions need to better communicate strength in uncertainty," says Davia Temin, President and CEO of Temin and Company, a crisis management consultancy. "My suggestion is to channel Elizabeth Warren and 'have a plan for that.' Institutions might do well to showcase how much contingency planning they have done and how thorough it is. If the populace, the markets and the regulators believe them, life can be far less panic-driven." [...read more]

Is your board risk-ready?

Michele Wucker, Strategy + Business, March 11, 2020

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Your company's board of directors is charged with reviewing all kinds of risks to the corporation. But how well prepared are its members to do so? How ready are directors to evaluate, communicate, and act on risks — and thus to better ensure that their companies are doing a good job? A great deal rides on the answers to these questions.

Understanding the risk attitudes of directors as individuals and as a whole can make all the difference if a risk materializes into a full-blown crisis. Davia Temin, founder of the New York–based crisis management firm Temin and Company, said it's essential to understand and improve a board's risk reaction dynamics during times of calm. "It's better to fix the fissures on a board ahead of time because every fissure will explode in a crisis," she said.

She recommends boards do an annual risk survey to determine how attuned different directors are to various risks. Crisis scenario games can shed light on differences among board members in their responses to stress and risks, and help board chairs to identify ahead of time which directors they might lean on most when — not if — a crisis hits. In fact, PwC's 2019 survey found that the percentage of directors participating in crisis management tabletop exercises doubled since last year, from 28 percent to 56 percent. [...read more]

Wells Fargo’s Duke Quits Before Turn in Washington Hot Seat

Hannah Levitt, Bloomberg, March 9, 2020

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Wells Fargo & Co. Chair Betsy Duke resigned from the company's board ahead of a dramatic congressional hearing set for this week, succumbing to the same political pressures that have claimed multiple former leaders of the bank.

The lender said Monday that board member Charles Noski will replace Duke as chair. Duke faced a growing chorus of calls for her departure after Democrats atop the House Financial Services Committee issued a scathing report last week on the bank's response to a series of consumer scandals.

The latest set of hearings begins Tuesday with an appearance by CEO Charlie Scharf, less than five months into his tenure. The committee will seek his thoughts on next steps for what it calls "the bank that broke America's trust."

Scharf is preparing to answer questions on what he's doing to get back in the good graces of customers, regulators and the public. He's met with nearly half the House Financial Services Committee, including Waters, since taking over in October, people with knowledge of the meetings said.

He'll be able to point to changes he's made since taking the helm, including adding new leaders and settling past probes. And he can tout the bank's recent announcements on minimum-wage increases, limited-fee bank accounts and lending to recipients of the Deferred Action for Childhood Arrivals program.

Scharf "can come on as a hard-nosed leader who is going to do the bidding of the public and fix things," Davia Temin, founder of crisis consultancy Temin & Co., said in an interview. "America still loves a comeback kid."

The board members faced a different task, Temin said. "It's harder to be part of the problem and then the solution." [...read more]

The Cost of MeToo Claims

Stephanie Forshee, Agenda, January 17, 2020

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When supermodel Kate Upton went public two years ago and accused Guess co-founder Paul Marciano of groping her breasts — allegedly without her consent — word spread fast. Guess Inc. had been trading at $18.37 per share just a day earlier, but its stock dropped by 18% upon the news about Marciano, making it the worst trading day in six years as the company lost $250 million in value.

Due to the reputational damage brought by a MeToo claim, plus the piling on of shareholder lawsuits alleging the information was material for investors, analysts and executives have found themselves rethinking how to calculate the impact of these allegations on businesses.

Since MeToo received a platform in recent years, 285 companies have been hit with claims — 199 private companies and 86 public companies — according to Temin & Co., which tracks sexual misconduct allegations. Davia Temin, CEO of the risk and reputation firm, says, "Instead of putting their head in the sand not wanting to know, the best boards are saying, 'We do want to know. We want to know before any problem arises.'" [...read more] (subscription required)

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