Sunday, July 15, 2012

Disarming and Neutralizing One’s Critics and Detractors: Jamie Dimon’s Repeated use of the word “Company” Instead of "Bank" in recent Interviews

Ever since that huge trading loss at JP Morgan first came to light some couple of months ago, every word uttered publicly by CEO Jamie Dimon with regard to that misstep has gotten enormous coverage in the media. No surprise there. But here is something instructive: In every interview/ public statement on that subject, Mr. Dimon has tried assiduously to avoid using the term “bank” when referring to JP Morgan, uttering the word “company” instead. See for yourself by clicking on the following which is a link to the May 13, 2012, “Meet the Press” transcript—his first interview on this financial disaster.

By preferring the word “company” over “bank,” Mr. Dimon is doing exactly what I would have done had I been in his situation. The term “bank” has been in bad odor ever since that massive and highly unpopular federal government bailout of the banking industry during the financial crisis. So, by avoiding mention of “bank” when referring to the multi-billion-dollar loss is one smart tactic to help disarm and neutralize critics of “big banks” and thus minimize the public’s adverse reaction to JP Morgan’s misadventure.

BTW, I will be presenting a seminar on this topic (i.e., on “How to Disarm and Neutralize Your Critics and Detractors without being Offensive or Disrespectful”) at a Houston-based unit of Subsea 7 later this week.

© Copyright 2012 V. J. Singal

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