How did Merrill accomplish this feat? Merrill's communications team were tight-lipped, with a media relations spokesperson only saying in an e-mail, "Merrill Lynch released two statements the day the article appeared denying the accusations in the story. Over the next two weeks, the firm held a series of meetings and calls with the editorial and legal staff of the Wall Street Journal to explain why the story was wrong and to press for a correction."
The situation shows how important media monitoring is, the critical role that communications professionals play (the story could've been very damaging at a time when Merrill is already vulnerable), and that even the WSJ can make the occasional error.
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