When you are up to your neck in crap and some one with a head cold spits at you what do you do – duck? Perhaps the worst but therefore the most lucrative account must be the Countrywide Financial (CFC).
Mauled by the financial media for its questionable lending practices, announcing it will lay-off 12,000 people, and watching its stock price fall from over $45 to $20, Countrywide Financial has just hired Burson Marsteller.The cuddly lovable PR behemoth is a hefty and influential PR conglomerate that is adept at generating a positive image for businesses involved in unethical corporate practices and human rights misdemeanours.
I suppose when you need help, you turn to someone with muscle. It is a bit of a poor start to highlight the strategy in a secret memo, and presume it will not be leaked to the press.