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Updates from April, 2009

  • How to Tweet Material News

    mike manuel 3:06 pm on March 8, 2009 | 9 Permalink
    Tags: blogs, disclosure, earnings, , ebayink, ir, legal, material news, microblogging, policy, , reg-fd, ,

    So here’s the deal: if you work for a public company and are interested in extending the application and use of Twitter for corporate news — this post is for you.

    So late last week, our (Voce’s) client at eBay, Richard Brewer-Hay, decided to share the backstory on something eBay’s PR and legal teams have been chewing on for a few months now — and that’s the development of guidelines and a set of SEC disclosure best practices that outline how eBay (well, any public company, really) can successfully (err, legally) use Twitter to share material news.

    If you read Richard’s post, you’ll see these guidelines were born out of his desire (and his history) of using eBay’s corporate Twitter account to “live tweet” the company’s quarterly earnings calls — something that’s been increasingly catching the attention of industry influencers, media, enthusiasts, etc, who wouldn’t otherwise have participated or tuned in to the actual earnings calls. And yes, as Richard indicates, this activity also, for better or worse, caught the attention of eBay’s corporate IR, PR and legal teams.

    It turns out, this was for the better…

    The easy, protectionist response would have been to just stop doing this, shut down the account and move on. But thankfully it didn’t, instead, the IR/PR/Legal groups within eBay all came together to figure out a way that concerns regarding disclosure and cautionary statements — especially pertaining to quarterly earnings calls — could all be addressed with the development of this simple legal page (which is now a permanant extension of eBay’s corporate blog, eBay Ink), and maybe more interesting, I think, are the ‘twitter sized’ (140-character) disclosure statements they co-developed. You can read them here.

    While we all wait for the SEC to further bake its guidance for disclosure on the web, something it introduced at a surface-level last July, I believe what eBay’s done here might help shape and inform the SEC’s thinking in the interim, as well as provide other public companies with a good working model for material disclosure via emerging practices, like microblogging, livestreaming and the like…

    Update: Domnic Jones of IR Web has some sound counter points regarding the archival of earnings information, be it in a company’s Twitter stream or otherwise. Shel Holtz also captures both eBay’s and IR Web’s perspectives on this news in episode #429 of For Immediate Release (show notes here).

    Update 2: PRWeek just posted this short piece on the news.

    Update 3: Man, this one’s evolving quickly. Yesterday, eBay put its new Twitter disclosure guidelines to work as part of its Analyst Day. IR Web has a great recap of that effort. As does PRWeek (again).

    Update 4: The WSJ makes mention of eBay’s use of the web and Twitter.

     
  • Blog Policies: Focus on the People, Not the Platform

    mike manuel 11:29 pm on October 12, 2005 | 0 Permalink

    Last week at Web 2.0 I sat in on a workshop that the law firm Fenwick & West was hosting on corporate blogging. In short, it was a good discussion and it reiterated what a lot of the sticky legal issues are around corporate and employee blogs and what ultimately companies can (and should) be doing to address them.   It occurred to me, however, after the second or third “dooced blogger study” that blog policies are, generally speaking, really shortsighted — which got me thinking…

    Why are we creating corporate policies that are based on platforms, when we should be creating policies that are based on behaviors?

    Don’t get me wrong, I think blog policies are useful and for now they serve a purpose, but if you strip the best blog policy down to its core, it’s nothing more than a company guide for self expression and a basic set of expectations for “good corporate behavior.”   It shouldn’t matter what platform an employee’s using for expression, who cares?  Yesterday it was message boards and email, today it’s blogs and podcasts, tomorrow’s it’s who knows what.  The platforms will change, but the underlying principles that guide sensable employee behavior probably won’t.

    That said, it seems to me that companies should be exploring ways they can broaden the scope of their policy-thinking or at very least broaden the definition of their exisiting guidelines.  Perhaps a corporate Social Media policy is one way of moving things in that direction…

    Also see:

    Corporate and Employee Blog Policies - Unplugged

     
  • The Week That Was

    mike manuel 7:50 pm on October 7, 2005 | 3 Permalink

    Insane.  That’s probably the best word I can use to describe this week. 

    The second annual Web 2.0 conference has reached its close and while hanging out at the conference and “related events” the last few days has been very cool, I have to admit blogger frustration set in pretty quickly as a slew of juicy info bits and bytes fell on my lap and flew across the blogosphere and I just didn’t have the wherewithal (or the time) to add my own two cents to the conversation.  That said, I’m using this post to scratch an itch on all sorts of subjects and observations that shook out of this week — some related to the conference, some not.

    I’ll aim to share a little more substance on some of these when I can resurface from my Web 2.0 stupor.

    Technorati/Edelman Blogger Survey – Phil takes an initial stab at analyzing the results and shares some highlights.  It sounds like he’ll be digging deeper on the data and sharing more shortly.  IMO, I think the results are interesting and insightful and “trust” is obviously the big underlying theme here – one that has huge implications for how PR will successfully fit in the blogosphere in the long run.  Steve’s right to argue that we need to balance analysis like this with training and application, but the industry needs some guideposts too and I think this survey is providing that.

    Yahoo RSS White Paper – This was presented last night at an after-hours party here in SF.  It’s a good read with some interesting stats, download it here (PDF).  Surprisingly, while RSS adoption is growing rather steadily, the average consumer doesn’t know they’re using it.  It’s hard to say what the implications of these stats are for companies that are dabbling with syndicated content, although I suppose if nothing else, the stats show RSS is finding its way into people’s info consumption patterns – whether they know it or not.  And some would argue that’s enough to justify further experimentation.

    Pushing Forward the PR Meme – I need to grok this and share something more substantial later, but generally speaking I think the spirit of what Steve, Jeremy and others are considering  is good and where I and those I work with can share our  insight and experience – in the interest of pushing industry know-how a little further forward — we should and I’m game.   Period.

    Following On-Line Conversations is Hard Work! – When I first read this, my reaction was something like, “yeah, no shit.”  Jeremy captures a pain that cuts to the very core of present day social media monitoring and participation, especially for corporations.  This is the very messy and very *real* part of PR 2.0 that I and many others deal with every day.  Workarounds exist, but man, it could all be so much more efficient..

    DIY PR — I’m going to post something separate on this topic, I need some distance from this week’s discussions to get a clearer take on this one, but the question goes: in a Web 2.0 era, where a DIY business mentality has permeated across a crop of new companies, is the importance and need for a dedicated PR program disappearing?

    Social Media Policies — I’ve been toying with this one for a while now, but I think companies need to broaden their thinking when it comes to employee policy making.  An industry push toward "blog policies" is moving awareness in the right direction, but it’s tragically shortsighted too.  I’ll have to drivel more on this later.

    The Flock Has Landed – Lastly (at least for this post), I want to simply say congrats to my Voce cohorts on the launch of Flock this week.  The coverage, the buzz and the party was amazing.  A few of us are toying with the idea of podcasting some Voce case studies in the near future, this will hopefully be one of them.  Flock on guys…

     
  • Blog Comments & Legal Liabilities

    mike manuel 8:53 pm on August 29, 2005 | 3 Permalink

    Are the comments others leave on your blog a legal liability?  This meme is making its way around the blogosphere (again), fueled by Aaron Wall’s recent legal spat with Traffic-Power over the comments on his blog.

    I’m curious to see how this one develops. I *believe* the Communications Decency Act was passed to (among other things) protect online publishers from being held accountable for the actions of others — at least that’s what one legal expert shared recently in a blogging policy discussion.  Here’s an excerpt from the act:

    Section 230 of the act added valuable protection for online service providers and users from action against them for the actions of others, stating in part that "No provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider". This portion of the Act remains in force, and enhances free speech by making it unnecessary for ISPs and other service providers to unduly restrict customers’ actions for fear of being found legally liable for customers’ conduct.

     
  • Corporate and Employee Blog Policies - Unplugged

    mike manuel 10:18 pm on July 24, 2005 | 4 Permalink

    Cross-posting (yes, again) to a recap of last week’s Voce/Cooley panel on corporate blogging policies.  While I realize this post is painfully long, I think it captures some of the best feedback and practical advice I’ve heard from companies to date.  Enjoy!

    Last Thursday, Voce was pleased to co-host a panel discussion with Cooley Godward on corporate and employee blog policies: “How Companies are Adapting to a New Communications Frontier” (more here).

    Voce_cooley_panel We would like to extend a big THANK YOU to all the panelists for
    taking the time to share their insights, advice and anecdotes on how
    they’re each thinking about and tackling some of the sticky issues
    around corporate and employee blogs.  We would also like to thank Forrester’s Charlene Li for sharing her research and leading a great discussion.

    While last week’s event covered a lot of ground and addressed most
    of the core policy problems companies are grappling with right now,
    best practices are still largely in development across corporate
    America — so the conversation must continue.  With this in mind, we
    wanted to share a few of the highlights and learnings from the panel in
    hopes that those who couldn’t attend might still benefit from the
    discussion and ultimately build on this moving forward.

    What’s the value of a corporate blog?
    (please note responses are paraphrased)

    *Chris Shipley/Guidewire Group: Blogging removes the distance
    people sometimes feel with big monolithic corporations – there’s an
    inability to relate.  Blogging counters this and can help humanize a
    company.

    *Jeremy Zawodny/Yahoo!: A corporate blog can shape (or reshape)
    people’s perceptions of a company.  It provides a window into the
    people and culture and in some cases it provides a better understanding
    of their products.  He also mentioned that an ancillary benefit of his personal blog and the Yahoo! Search Blog has been its help with recruiting.

    *Catherine Peterson/Business Objects: From an investment
    perspective, corporate blogs have the potential to serve as great
    sources for incremental information on a company.  She also commented
    that the humanizing effect that Shipley referred to can also influence
    a growing population of people who are seeking that type of connection
    with the companies they invest in.

    What’s the downside of a corporate blog?

    *Zawodny: The time commitment typically surprises people – in terms of creating content and actively monitoring things.

    *Peterson: Quoted Warren Buffett: “It’s easier to not get in trouble then to get yourself out of trouble.
    Point being that companies are doing business in an increasingly
    regulated environment and that for some it may be easier (read safer)
    to remain conservative with external communication than to take a risk
    with a company blog.

    Do you have an employee blog policy?  How was it created?

    *Peterson: Yes, it was born out of corp. comm., but several
    departments were involved in its development.  Also, Business Objects’
    developer community played an important role in its creation.

    *Zawodny: Yes, and he shared some of the thinking behind Yahoo!’s policy.
    Yahoo!’s focus was less on setting limitations and more on sharing best
    practices.  Zawodny, speaking from his own experience, explained that
    there are a lot of gray areas when it comes to blogging about company
    and industry issues and that Yahoo’s guidelines were designed to help
    people navigate through the lessons he and other Yahoo bloggers have
    learned.

    *Jodi Baumann/NetApp: Yes, although after further research, her
    team decided not to create a separate blogging policy and to instead
    incorporate a few additional guidelines into the standard employee
    agreement.

    *Charlene Li/Forrester: Profiled IBM and how it created its corporate blogging policy over the course of 10 days through the use of an employee wiki for soliciting input and edits.

    What are the legal risks of blogging?

    *Chuck Schwab/Cooley
    Godward: New technologies can be problematic for businesses because
    it’s not always clear how (or if) existing laws will apply to them.
    But with respect to blogs, the three biggest areas of legal risk are:

    1). Protecting the company’s intellectual property

    2). Slander and invasion of privacy

    3). Security law

    Employees haven’t really been in a position (historically speaking)
    where they can make risky public statements that can spread globally.
    Now they can, so there’s a greater need for companies to be proactive
    with their thinking around policy.  Its’ not enough to say, “Just use
    common sense” because there are too many gray areas.

    Is a policy enough?  What happens when it’s broken?

    *Schwab: Establishing some sort of blogging policy or at least
    adding some language into employee agreements should suffice for most
    companies.  Each organization will need to decide what the appropriate
    recourse is for not abiding by the ground rules (referenced Mark Jen).  NOT having a policy in place will certainly make this more problematic for companies.

    Can a company regulate an employee’s blog?

    *Schwab: Legally, there’s no basis for telling employees what
    they can and cannot blog about, as long as they’re not sharing company
    IP, breaking security law, etc.

    *Baumann: Shared that there are instances were an employee can blog and
    stay within the boundaries of the corporate policy, but still say
    things that are harmful and damaging to the reputation of the company.

    *Schwab: Companies can’t do anything to prohibit basic constitutional
    freedoms, however in instances where the employee is associating the
    employer’s brand with his or her own personal interests, then the
    company has grounds for taking action.

    What’s IR’s biggest concern with a corporate blog?

    *Peterson: Materiality is the biggest issue.  Hints to product
    release timing, forward-looking statements, speculation on deals,
    customer relationships, partnerships, etc., are what IR departments are
    most concerned with.  The other concern/question is “will this
    [corporate blog] really benefit the business and offer value to the
    investors?”  Every company needs to do its own cost/benefit analysis.

    Who’s involved in content approval for your corporate blog?

    *Baumann: Corp. comm., and no one else.  As needed, some
    content may get “escalated” up the food chain to IR or legal for
    review, but that’s on an as-needed basis.  The discretion lies with
    PR.  The reason being that too many hands in the approval process would
    inevitably affect the content and hinder the frequency of posts.

    *Zawodny: PR is involved in the approval process, although as time
    passes and comfort levels increase, the PR team is beginning to step
    back and only intercede as needed.

    *Peterson: Every company should have at least two people reviewing
    content – if for nothing else but an extra set of eyes.  It’s too easy
    to mistakenly share info that could prove problematic if no one else is
    checking the copy.

    Are there any legal liabilities with enabling comments and/or trackbacks?

    *Schwab: The Communications Decency Act should protect companies from the comments readers may leave on a corporate blog.  Also, the Digital Millennium Copyright Act
    should protect companies where copyright infringement is concerned
    (e.g., a commenter leaves a link to a copyrighted video or music file).

    *Zawodny: Most of the comments the Yahoo Search blog receives are
    positive and neutral. A small percentage are negative and are typically
    dealt with on a case-by-case, depending on the sensitivity of the issue
    among other things.  He also mentioned that the Search team would
    rather see dissenting opinions being shared in a forum where they can
    be seen and acted upon, verses festering on a message board or blog in
    a distant corner of the Web.

     
  • So Much for Participatory Media

    mike manuel 11:00 pm on May 22, 2005 | 1 Permalink

    The Venture County Star recently announced that it has shut off comments on its website because the tone of those comments had grown too vicious and incendiary.

    [snip] Today we stopped live, unmoderated comments on the stories on our website," wrote John Moore, assistant managing editor for new media and technology at the Star. "It’s a response to the abuse of the comments and, quite honestly, no one here involved in the decision is happy about having to do it. But it had to be done."

    [snip] Wonderful conversations ensued," Moore recounted. "Readers began talking with each other, offering opinions, raising the bar of discourse in the county. They were voices we didn’t normally hear from. The comments made many of us a little nervous. They were a little raw for our taste; language and opinions that we don’t normally see in print. But they were real. For awhile."

    [snip] "The viciousness of the comments began to escalate," according to Moore. "We found more and more of our time was being spent moderating the comments. With comments posted on dozens of stories, it ate up much of our day." That’s when the Star’s staff decided to eliminate the comments.

    For all the promise and potential of participatory media, comment control is guaranteed to be one of its biggest pains.  This same issue is bouncing around corporate conference rooms everywhere as companies plot out their blogging initiatives.  The good news is that I think the problem’s relatively manageable.  Here’s what I typically advise:

    Enable comments: Assume your community of readers will act responsibly until they prove otherwise.  Should problems arise, you’re well within you right to turn comments off.

    Create a comment policy: Protect yourself and your community with a simple comment policy.  For example, if a comment is off topic or inappropriate, you reserve the right to have it removed.  More stringent policies might require agreement with corporate usage guidelines and service terms.  Also, on a related note, consider whether or not a privacy policy should be shared.

    Close old comment threads: Regularly disable comment threads on posts older than 30 days There’s really no need to keep comments active on last month’s posts.  By keeping them open you’re inviting comment spam and creating more maintenance work then necessary.

    In addition to these three suggestions, look into what controls your blog software or website hosting providers offer to help you minimize the time spent managing comments.

     
  • Feedster Shares Its Blogging Policy

    mike manuel 12:00 am on March 21, 2005 | 0 Permalink

    Even though it seems like I’m moving a million miles per hour these days, I can always find time to check my feeds.  The difference is that while I may make note of something that has the potential for an interesting post, by the time I actually get around to writing about it, the blogosphere has usually already inhaled this news, vomited it back up and is contemplating seconds.

    Regardless, I recently noticed the availability of Feedster’s corporate blogging policy – which BTW is very good – so I made note and thought I’d simply point it out here.  Scott Rafer, Feedster’s president and CEO, shares more insight on his blog.

    I’ve said this before and it bears mentioning again, the two biggest barriers to entry for most companies considering corporate blogs is 1) lack of education and; 2) lack of practical policies. To some extent the two go hand-in-hand, but I think a lot of headway is being made on both fronts.  With respect to the later, there will always be a fine line between setting and sharing corporate expectations while still allowing self expression. For things to evolve, however, we need good models to work from and I think the folks at Feedster are providing just that.

    Update: I’m just claiming my feed at Feedster.