How Murdoch can satisfy Wall Street
Published: July 19, 2011 / Author: Jon Friedman
Wall Street’s eyes will be on Rupert Murdoch on Tuesday when the News Corp. chairman testifies before a British parliamentary inquiry.
Murdoch’s appearance will come in the wake of accusations that a News Corp.
publication in London, attempting to gain information for publication, hacked
the telephones and emails of a murder victim and families of people who died in
terrorist attacks in London.
Crucially, Murdoch must accomplish more than conventional “damage control”
because damage has been done to the reputations of the global corporation and
its employees. It’s up to the chairman to assure the world that News Corp. will
recover from this debacle and be able to move on. (MarketWatch is part of News
But how should the company go forward from here?
“The conventional wisdom in a reputational crisis that threatens an
organization or brand is to be contrite, be truthful and be swift,” observed
James O’Rourke, a management professor at the University of Notre Dame. “One
further consideration that’s not often talked about: be complete. Hold nothing
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