NEW YORK: Nasdaq’s policy of not commenting on price levels finally paid dividends last week.
NEW YORK: Nasdaq’s policy of not commenting on price levels finally
paid dividends last week.
In the past, the rule seemed to put the company’s PR pros at a
disadvantage, as they were unable to trumpet the exchange’s huge
increases. But following the wild fluctuations of last Monday and
Tuesday - including a 574-point midday plunge - the company was more
than happy to comment on little more than trading volume levels.
’Most journalists already knew our policy and were very apologetic when
they had to ask anyway,’ said Andrew MacMillan, SVP of corporate
communications at Nasdaq parent NASD. ’We just steered them in the right
direction, mostly to analysts.’
Still, Nasdaq PR pros weren’t exactly sitting on their hands. Most
significant among the media hits the company garnered were NASD
president Richard Ketchum’s appearance on CNN’s Moneyline News Hour and
his interview for a front-page Wall Street Journal story.
The company maintained its sense of humor throughout the crisis: when
MacMillan discussed the events with vacationing director of media
operations Scott Petersen, he quipped ’Wish you were here.’