The wonderful world of financial PR
Euromoney hacks are continuously bewildered by the mysterious workings of the PR industry but an interesting new approach taken last month has left us scratching our heads more than usual. When a press release landed in our inbox detailing new research from a boutique investment house into a forthcoming rise in default rates and distress due to the sharp increase in issuance of triple-C rated debt, our interest was piqued. The missive was efficiently followed up by a phone call from a leading PR firm, enquiring as to whether we would like to follow up on the story. So far, so good.
Then things entered the realms of the surreal:
PR: Would you be interested in following this up?
EM: Yes, it sounds interesting. Could you please send me a copy of the research?
PR: Oh no – you can’t see the research.
EM: Excuse me?
PR: You can’t see the research – but you can talk to the company about the research.
EM: The research that I’m not allowed to see?
An interesting approach – but not one likely to generate a particularly useful interview. The offer was politely declined.
Cryptic clue: The identity of the investment bank? Well just think of siblings that have not fallen out with each other...