Building trust via blogging
July 17th, 2002Dave and John have some thoughts on the stock market, including quotes from Allan Greenspan’s recent comments about reading the fundamentals of the market through the fog of corporate malfeasance.
I’ve watched my mutual funds drop 10% over the last 6 weeks. I pulled them out into interest-bearing investments this week, expecting there is still some drop to go as more and more of the corporate shenanigans iceberg is revealed. Call me a pessimist but I’m fairly confident we’ve only seen the tip, and the political fallout hasn’t even started to gather steam.
Now is exactly the right time for every corporate executive to get a copy of The Cluetrain Manifesto. Consumer and investor confidence will return quickest to those corporations who really sincerely grasp the concept of two-way communication with their market.
People are now more than ever wary of suits, bafflegab, slick salesmanship of any sort. Transparency and humility will win back investors and customers. No bullshit, no *seeming* to be trustworthy. Cards on the table time. A blogging executive has an advantage in building trust with his or her market over an executive whose human persona remains unrevealed.
You’re on to something there. Unfortunately, the old guard isn’t going to change. The new blood that understands IT will push out the dinosaurs.
I am so sick of hearing that the stock market is going to bounce back. We were up into a area that we should have not been in. We need to level off and start over. Sorry to here about your loss.