The Twitter Business Center offers businesses three capabilities that aren’t built into standard Twitter accounts:

1. A “Verified Account” seal – you see this most frequently on celebrity Twitter accounts like @aplusk and @barackobama – the seal indicates that someone from Twitter has confirmed that the account holder isn’t an impostor.

2. “Contributors” – lets more than one user access a business account, and displays a “byline” for each individual user tweeting on a company handle (more here).

3. Non-follower DMs – allows business accounts to respond to DMs from users they’re not following. This feature is particularly relevant to businesses who use Twitter as a customer service tool, like @comcastcares; it eliminates the step of following a user back before responding to his or her inquiry or complaint.

The toolkit for business is currently only available to a select group of companies that Twitter has invited to test it out. Presumably, these are firms who are already using Twitter for business (one is @Starbucks) and will find value in the shortcuts and capabilities provided by the service. But even when it’s universally available, it doesn’t change the strategic thinking that should inform the decision to “tweet or not to tweet” – and that’s true whether you deal in derivatives or donuts.

Especially in financial services, where violating the compliance standards outlined by FINRA or the SEC has major consequences, social media is still an area in which to “proceed with caution.” Just as before, if your client’s target audience is on Twitter, and the client is prepared to devote the energy and resources to engaging there in a way that doesn’t jeopardize compliance, then by all means go for it! But just because Twitter is making a play for businesses doesn’t mean that every business should immediately jump on board.

That’s our Financial Services Practice Group’s “Two Cents” – do you think the Twitter Business Center is a game changer?

To reach Kelly:

Phone: 212.840.1661
Email: kellyd@blisspr.com
Twitter: @kellydavis226
LinkedIn: Kelly Davis

Our news highlights will focus on our group’s areas of expertise, including:  banking, bankruptcy, insurance, asset management, investing, markets and private equity. We’ll also point out who we believe are “social media stars” – those in the FS industry who are truly leading the way in these still-uncharted waters.  So without further ado, here is this week’s financial services news roundup:

Banking & Bankruptcy: It’s only mid-February and the toll of banking failures already stands at 20. It seems someone forgot to inform the banks that there is a recovery going on out there. The four failures which happened late Friday cost the Government an expected $1 billion. One of the largest failures, year to date, was that of California based La Jolla Bank, who had $3.6 billion in assets. In a deal with the FDIC, La Jolla’s operations were sold to One West Bank which was launched in early 2009, to purchase the remains of IndyMac Bank. The three other failed banks were named as George Washington Savings bank, Marco Community Bank and The La Coste National Bank. For more on this story please click here.

Speculation is mounting that MGM Mirage could be on the verge again of entering Chapter 11. Following their disappointing earnings last week, the rumors are circulating that this time they won’t be able to patch things up and that bankruptcy is looming ever closer. Like Blockbuster which we discussed earlier this year, it seems that bankruptcy talks around MGM Mirage are a regular occurrence. Given their huge exposure to the Las Vegas Strip which many analysts believe is not going to see a turnaround in the near term, it’s not surprising that Chapter 11 fears are surfacing yet again. TheStreet.com has a nice analysis of the situation here.

Credit Cards: New credit-card regulations go into effect today (the second iteration of changes Americans have seen since President Obama signed the Credit CARD Act last year). The changes are aimed to help protect consumers and make account terms easier to understand and more transparent. But, credit card companies can still raise interest rates and impose annual fees on new cards, and there is no cap on how high interest rates can go. The bill’s provisions are filled with loopholes, outlined in the Washington Post here. This week, look for coverage of what Americans should do for the best deal on their credit card, and explanations of new tactics banks are undertaking to get around the regulations, as well as a preview to the next, and last, implementation date for the regulations: August 22, 2010.

Markets: There’s plenty to keep your eye on this week, with a number of earnings and some important meetings. Today we wait as the senate is slated to hold a procedural vote on a $15 billion legislation aimed at job creation. Broadly speaking, the market is concerned about the pace of spending and basically anything that points us towards another stimulus package is going to feed into that anxiety. Some important retail numbers to watch include Nordstrom earnings on Monday, Target reports on Tuesday and the Gap’s earnings are due out on Thursday while the department store company reports full results Tuesday. On Thursday the White House also plans to hold a bipartisan health-care meeting with lawmakers and has promised to publish its version of overhaul legislation by Sunday. And lastly, let’s not forget Bernanke’s semi-annual monetary policy report, which he is expected to deliver to Congress and the Senate Wednesday and Thursday respectively. To read more about Congress confronting the jobs bill, click here.

So there you have it, the Financial Services Practice Group’s “Two Cents” on what’s news in finance this week. Stay tuned for next week!

To reach Nicole:

Phone:   212.584.5473 
Email: nicole@blisspr.com
Twitter: @nicolejleblanc
LinkedIn: Nicole Leblanc

This Monday our weekly Top Line News Summary highlights three different sectors: banking, healthcare, and the markets.  Last week we covered bankruptcy, real estate and retail – more to come next week from our primary sectors.  To sign up to receive these posts regularly, click here.  

Without further ado, look for these topics to make the news this week:

Banking: With the Fed issuing a new rule that will require banks to get customer consent before they charge overdraft fees and Congress looking to draft legislation in the coming months on just this topic, it’s opportune timing that U.S. banks are easing how much they charge their customers in overdraft fees.  A new study from Moebs Services Inc. found that during the last 5 months, U.S. banks raised their standard overdraft fees at the slowest rate in 17 years, which is good news for those customers struggling in the wake of the recession.

Healthcare:  President Obama’s healthcare reform bill finally landed on the Senate floor.  Expect more news in the coming weeks as Democratic and Republican leaders debate major issues – the public option being one of them.  To read more: please click here.

Markets: There’s a lot of action in the markets today with home sales numbers released and soaring commodities and gold prices.  October home sales were up 10.1%, beating expectations.  The Dow gained more than 100 points and other stock indexes leapt as commodities prices soared amid dollar weakness.  Gold jumped to fresh record highs as metals prices rallied, defying underlying fundamentals as the unprecedented weight of investment money helped lift the markets to fresh 2009 highs.

What will YOU be looking out for in business news this week?

(Photo by JWorld)

To reach Karlsson:

Phone: 212.584.5485
Email: karlsson@blisspr.com
Twitter: @kbanks
LinkedIn: Karlsson Banks

Real Estate:  The credit-starved commercial real estate industry will face a first today – the sale of commercial mortgage backed securities under a government designed rescue plan. According to WSJ, The Developers Diversified’s debt sale will “pave the way for other CMBS deals and help uncork a market that had been one of the most important funding sources for commercial real estate in the past decade.” We’ll be watching closely how this one plays out.

Bankruptcy: According to an article in this morning’s Wall Street Journal, the “bankruptcy boom is going bust.” After one of the worst periods for corporate bankruptcies, failures have started to slow and companies that were on the verge of going under are refinancing their balance sheets to give them a new lease of life. Does this mean a brighter 2010 ahead?

Retail:  U.S. retail sales rebounded from the year’s biggest drop last month with a 1.4% increase (up from a 2.3% drop in September). The increase helps ease concerns that consumers will sit on their wallets after government incentives ended, and economists argue that this increase could bode well for the upcoming holiday season. Read more via Bloomberg.

What will YOU be looking out for in business news this week?

To reach Gretchen:

Phone: 212.840.1460
Email: Gretchen@blisspr.com
Twitter: @gsteinmiller
LinkedIn: Gretchen Steinmiller

It’s Monday.  The Yankees are going to the World Series (which could be good or bad news for you), and it’s time again for our weekly preview of this week’s headlines in the industries we follow the most.  Last week we focused on markets, HR/Management and personal finance.  This week our media relations professionals highlight healthcare, real estate, and markets.  Happy reading!

Healthcare:  For those following healthcare reform headlines, you might be in for some news this week.  According to WSJ, Senate Democrats will unveil their health bill as soon as tomorrow.  The bill is expected to expand health coverage by offering low and mid-income families subsidies to offset insurance costs.

Real Estate: Real Estate has something in common with the bankruptcy industry this week:  Capmark Financial Group.   Bloomberg is reporting that Capmark, one of the largest U.S. commercial real estate finance companies, filed for bankruptcy protection after posting a second-quarter loss of about $1.6 billion.  Capmark was one of the largest investors in strip malls, office buildings and hotels.  According to the attorney handling the bankruptcy case, “all the businesses will be saved and continue with Capmark or will be sold as going concerns for full value.”

Markets:  Oil is fueling the markets today.  U.S. stocks opened higher, pushing the Dow industrials back above 10,000 as higher oil prices lifted the energy sector.  According to WSJ, the news helped investors and analysts become more positive about Q3 earnings. 

To reach Gretchen:

Phone: 212.840.1460
Email: Gretchen@blisspr.com
Twitter: @gsteinmiller
LinkedIn: Gretchen Steinmiller

Over lunch last week, a sell-side research analyst noted that few of his former colleagues continue to work in sell-side research.  While the role of the sell-side analyst has not disappeared, it evolved into something very different over the past decade.  No longer is an analyst widely considered to be an “ax” in his or her universe of coverage.  Stocks rarely move solely based on word of a ratings upgrade or downgrade on CNBC. 

So where have the analysts gone? 

The simplest answer may be: nowhere.  Most of the large bulge bracket Wall Street firms continue to provide research services, but several factors have made the sell-side business more challenging and reduced analysts’ visibility, including

• a disconnect between research and investment banking,
• rules covering information dissemination by public companies, and
• questions over how customers will actually pay for research.

It is very rare for an analyst to fall into information that makes for a major stock-moving call.  The act of “doing” research is now more cumbersome.  There is a greater focus on techniques like channel checks, store checks, and customer surveys.  Institutional investors value this research, but it does not make for an exciting five minute segment on business television.

So what are clients willing to pay for? 

Institutional investors place greater value on information flow.  Put simply, sophisticated investors place less value on an analyst’s conclusions and more on the new incremental information that drive changes in stock opinion.  In addition, buy-siders now often look at whether an analyst can provide access to corporate management teams.  They focus more on facilitating management meetings than information analysis.

Does this evolution mean the eventual end of sell-side research? 

It seems exceedingly unlikely.  Like much of American business history, major changes create new opportunities for businesses to adapt and evolve.  Major investment banks are giving a lower priority to their research efforts, but smaller and regional firms are finding new ways to both provide and monetize value-added services outside of an investment banking context. 

Check out what Institutional Investor’s David Simons has to say on the subject.  Where do you think it will lead?

(photo by david.nikonvscanon)

To contact Donna McSorley:

Email – donna@blisspr.com

This week our media relations professionals highlight three different sectors: retail, HR/management, and markets. 

Retail: Key retail stores will release September sales reports this Thursday. Retailers and analysts will be looking to see if they need to adjust their already gloomy-holiday forecasts. More information can be found in today’s Wall Street Journal.

HR/Management:  Bank of America directors will meet this week to choose an emergency CEO in case legal issues force Kenneth Lewis to step down before the end of the year.  A five-person board committee is leading the process.  Once the committee chooses a candidate, and once the full board approves, the plan will be “shelved until needed.”  http://tinyurl.com/ybzeg3h 

Markets:  Stocks climbed early Monday, propped up by gains for financial stocks after analysts at Goldman Sachs raised their outlook on the sector. Analysts at Goldman Sachs indicated that they are more optimistic about large U.S. banks, raising their coverage view on the sector to attractive from neutral. Wells Fargo shares were up 5% after Goldman upgraded the bank to buy. Capital One Financial, which Goldman added to its conviction buy list, gained 5.2. The Dow Jones Industrial Average was recently higher by about 11 points, the S&P 500 rose about 0.4% and the Nasdaq Composite Index was up about 0.2%. http://tinyurl.com/y8fm9ru

What are YOU reading this week?

(photo by JWorld)

To reach Gretchen:

Phone: 212.840.1460
Email: Gretchen@blisspr.com
Twitter: @gsteinmiller
LinkedIn: Gretchen Steinmiller

So if nobody’s closing, nobody’s talking – or are they?

Actually, coverage of credit-constrained businesses is better than ever. Commercial real estate industry coverage in the Wall Street Journal and other national media outlets has never before been more robust, received as many front page mentions, or provided as much context beyond individual deals. Reporting teams have expanded, and interest from the wider business community has increased, largely as a result of the role real estate has played in the financial crisis. As a result, there are plenty of opportunities to share expertise and contribute to the dialogue – and many do not require a recent transaction as a news anchor.

If you want to raise the visibility of your transaction-focused business – and this goes for any transaction-driven business, whether it be commercial real estate, investment banking, or other such fields – but don’t have a new deal to talk about, there are ways to jump into the public conversation.

Here are a few things you CAN be doing to garner attention to your own expertise, or that of your business, in the press:

Recognize that it’s the size of the ideas, not the size (or lack thereof) of the deal. Editors care about trends, ideas and unique perspectives – and even more so now, when the immediate future of the industry and of any

specific market is so unclear. Sure – deals of any significant size will bring on proverbial ink to their buyers, sellers and other participants. But there’s more room for ideas, with less deals in the news.

Make friends with your analysts.  Many firms employ both analysts and dealmakers. If your dealmakers don’t have transactions to shine a spotlight on, concentrate on media opportunities for your analysts. Their expertise and lack of bias are welcome to media outlets seeking those with in-depth expertise and fresh perspectives on what’s coming next for their sector of expertise. If this sounds like a good idea for your firm, check out this post on analyst PR.

Discover diamonds behind closed doors. If you’re at the negotiating table and know the numbers being thrown around – you have information reporters want. The rest of us aren’t in those closed-door meetings with lenders, dealmakers and IPO candidates. Of course you can’t share everything, but what you can tell the world will help reporters and readers get a clearer picture of what’s going on in the market. And in turn, your brand will get a boost as a key industry player. What are the spreads? What are lenders asking for – and what are borrowers able to give? Who has capital, who does not?

Of course, when you do have a deal – by all means, make the most of it.  Just remember that size isn’t the only differentiator when editors decide what makes the cut. Even if it might not have warranted media attention in boom times, if there is something unique or interesting about your transaction, it’s worth at least bringing to a reporter’s attention.

Deal or no deal, your business will benefit by you sharing your thought leadership and unique perspective. The source of your next transaction may be delighted enough by what you have to say, to pick up the phone and start the conversation.

(Photo by denismc)

To reach Margy:

Phone: 312-252-7314
Email: margy@blisspr.com
Twitter: @margysweeney
LinkedIn: Margy Sweeney

And, at a time where many financial institutions need to counteract negative news, an integrated marketing communication program centered around research and expert commentary can generate controlled, positive press.

Typically, strategic public relations for analysts is used to:

• Increase brand recognition:

Regular commentary in outlets such as Barron’s and CNBC can raise a firm’s profile and pay big dividends for the rest of the business. One of our clients swears, “Every time one of our analysts is on TV, our sales and trading phones immediately start ringing.”

• Add credibility:

If a firm expands coverage of new industries or issues, the first thing it needs is credibility, and consistent media coverage provides it.

• Attract and retain Senior Analysts:

Analysts are often attracted to firms with a robust PR program. Recognition is portable, so analysts that come from other firms will easily be able to pick up where they left off.

If you do decide to move forward with a program, we’ve learned a few things that are important to remember to keep it chugging along smoothly:

•  Give them what they want:

Analysts generally value media opportunities that highlight their expertise and the depth of their industry knowledge. Each analyst has different priorities that PR should learn —while auto analysts may privilege the Detroit Free Press, others will only focus on the Wall Street Journal.

• Respect their boundaries:

Media interviews aren’t for everybody—and that’s okay. PR’s role is to educate the analysts, and use tools such as media training to increase their appetite. But we also have to respect the fact that not everyone wants to share their wisdom publicly.

• Value their time:

Time is of the essence for analysts. Working with analysts requires balance—and we’ve learned the importance of efficiency while working to accommodate the hectic schedules of both the analysts and reporter.

Have you had an effective PR program for analysts?

(photo by luisvilla)

To reach Katherine:

Phone: 212.584.5475
Email: katherine@blisspr.com
Twitter: @kilpatrickk
Linked In: Katherine Kilpatrick