What To Do When Bad Press Tanks Your Stock
Check this out. What you will see is an article that describes what JNJ is doing to counter the influence of a recent expose’ that argued that not only did the company’s Baby Powder contain asbestos, but that the company had known that to be the case for years. What are they doing to manage the crisis? They are doing what JNJ has been known for doing since the Tylenol poisoning, when the president of McNeil sat on the edge of his desk, looked into the TV camera and announced a total recall of the product directly to the American public.
This time, they are again taking an approach that goes directly to consumers. BUT. This time they have a different message. Arguing for science over sensationalism, they are refuting the science behind the points of the article’s attack one by one.
Bottom Line. We should watch closely to see how well this approach works. While I understand the JNJ line of reasoning here, I question whether the average citizen will have the interest to take the time to read JNJ’s scientific argument.
As always, stay tuned!