Mercury interactive backdating
Here's a look at the state of big data maturity and the challenges that remain.
At its core, digital business relies on strong security practices.
So we all saw Trump’s “fake news awards” last week and enjoyed the stupidity of the dinosaur fake news establishment being skewered once again.
But #fakenews is not limited to bogus stories about Trump.
STRATEGY: To achieve these objectives, Ogilvy PR developed communications plans to execute the following strategies: RESEARCH/PLANNING: To determine the best strategies for handling the crisis, Ogilvy PR researched other technology companies that have gone through financial crises, including Computer Associates, Brocade and Oracle.
The research was critical in convincing Mercury executives to use "moving forward" messaging, overcoming their initial plans to promote a "comeback" story.
One area where she thought we were less than competitive was our stock option granting process.
She reported that her previous company’s practice of setting the stock option price at the low during the month it was granted yielded a far more favorable result for employees than ours. Abrams and three other former officers committed fraud by backdating stock option grants and failing to record hundreds of millions of dollars of compensation expenses.
KLA-Tencor was among the companies mentioned in a front-page May 22, 2006 article entitled "Five More Companies Show Questionable Options Pattern" (here).
On June 29, 2006, the company announced (here) that its Board "had reached a preliminary conclusion that the actual measurement dates for financial accounting purposes of certain stock option grants issued in prior years likely differ from the recorded grant dates of such awards." On October 16, 2006, the company announced (here) that the special committee had completed its investigation, and that as a result of the committee’s conclusions "the company will restate its financial statements to correct the accounting for retroactively priced stock options." The company said that it anticipates that the "additional non-cash charges for stock based compensation expenses will not exceed 0 million." The company also announced that it had terminated "all aspects of its employment relationship" with Kenneth Schroeder, who had been President and COO from 1991 to 1999, and CEO and a director from 1999 to 2005.
On June 25, 2007, the SEC announced (here) that it had filed a civil complaint against the company and Schroeder.
Without proper communications management, the scandal could have caused lasting damage to the corporate brand, abandonment by customers, shattered employee morale and loss of key employees.
OBJECTIVES: Campaign objectives included: It would be crucial to launch a successful communications campaign that portrayed Mercury as a company with strong products, earnings and customers to quell the concern and skepticism of each of these groups.