President Obama Cracks up Correspondents

After making an entrance to rap music, President Obama started the 2013 White House Correspondents' Dinner with the usual banter: "I look in the mirror and say, 'I'm not the strapping young Muslim Socialist that I used to be.'"   

Here are a few more highlights from the president's speech:

• Joking about his diminishing basketball skills: "I took 22 shots, made two of them. Two hits, 20 misses. The  executives at NBC asked, 'What's your secret?'"
• Considering ways to increase his popularity, the president showed a series of photos sporting Michelle-like bangs.
• Poking fun at CNN: "I know CNN has taken some knocks lately, but the fact is, I admire their commitment to covering all sides of the story, just in case one of them happens to be accurate."
• Commenting on ads by the Las Vegas Sands Corporation CEO: "Did you know that Sheldon Adelson spent $100 million of his own money last year  on negative ads? You've got to really dislike me to spend that kind of money. I  mean, that's Oprah money. … Sheldon would have been better off offering me $100  million to drop out of the race. I probably wouldn't have taken it, but I'd have thought about it. Michelle would have taken it."
• Reacting to his relationship with the Republicans: "Some folks still don't think I spend enough time with Congress. ‘Why don't you  get a drink with Mitch McConnell?' they ask. Really? Why don't you get a drink with Mitch McConnell?"

Discussion Starters:

• How does the president's delivery support the tone of his speech? What, specifically, do you notice him doing during some of his jokes?
• When the president switches to a serious tone, how does his delivery change? Again, what do you notice in his voice tone, gestures, facial expressions, and so on?

RBC Responds to Outsourcing Plans

The Royal Bank of Canada is under fire for replacing 45 employees with oversees workers. A representative of RBC admits that work is being moved to another supplier, and current employees are training their replacements. The company is looking for new jobs for the displaced workers, who will leave at the end of the month. The new supplier is iGATE Corp., an Indian multinational outsourcing firm.

In an interview, RBC HR chief Zabeen Hirji tried to explain that RBC isn't hiring the workers, and the workers aren't replacing RBC employees-just transitioning to the new staff. Both are tough sells. First, RBC hired the supplier who is hiring the workers (so they have some accountability). Second, having interim workers doesn't change the outcome: people are losing their jobs, and-as it appears-foreign workers will be doing the work. The reporter called the distinction "semantics" and said, "I get what you're trying to sell, but I'm not sure I'm buying it."

Criticism is high, particularly the concern that RBC is violating federal rules that foreign workers may not replace Canadian citizens. In response, the bank published a statement that said, "External suppliers with the right skills allow us to introduce new efficiencies, continually improve our service at reduced cost and reinvest in initiatives that enhance the client experience. Agreements with our suppliers include strict controls and ongoing monitoring to ensure full compliance with all regulatory requirements."

Public backlash is also high. A Facebook page, Boycott Royal Bank of Canada, has 7,600 likes.

Discussion Starters:

• Analyze Zabeen Hirji's interview. What does she do well, and what could be improved? What are her strongest and weakest arguments?
• Overall, do you buy RBC's position?
• One article referred to Hirji's "corporate-speak explanation and histrionic hand gestures." Do you agree with this characterization?

Hiding Under a Desk Isn't the Best PR Strategy

No one wants to be on camera when a tough story is brewing, but hiding under a desk isn't the best move-and it backfired on a receptionist at a real estate company.

For two years, Deborah Smith tried to get a dangerous tree cut down on her neighbor's property, owned by Roberts Brothers Properties. When a reporter showed up on her behalf, he saw the receptionist dip under her desk. She stayed there for 30 minutes.

The situation is silly-and embarrassing for the receptionist. But corporate communicators can learn a few lessons from the scene: 1) don't delay small requests that may turn into PR nightmares, and 2) train your receptionist to handle the media. This isn't the first time Roberts Brothers Properties has been in a dispute: last year, the company settled a lawsuit with Bank of America for $35 million. Given the history, the brothers' staff should be better prepared.

Discussion Starters

• Do you blame the receptionist for the incident, empathize with her, or something else?
• In media training for staff (particularly front line staff such as a receptionist), what would be important to include?

Carnival Cruise Apologizes for Stranded Ship

Triumph, the stranded Carnival Cruise ship will finally reach a port in Alabama today after a fire caused power outages on day 4 of the 7-day cruise. Without functioning toilets and air conditioning, and with limited food, the ship has become a vacation nightmare.

Carnival CEO Gerry Cahill led a press conference to apologize for not delivering on the company's service promise and to describe plans for getting more than 4,000 passengers home. Cahill also explained what happened with the fire, failure to restart, and tug process. Focusing on getting guests home, he then described plans to get the ship to Mobile, Alabama, and what would happen at the port. Summing up, Cahill thanked local organizations and Carnival team members.

From the ship, one passenger texted ABC news:

"Elderly and handicap are struggling, the smell is gross. Our room is leaking sewage."

In the news conference, Cahill did acknowledge "the conditions on board."

The company cancelled 14 upcoming cruises scheduled for the Triumph. As compensation, Carnival is refunding passengers' money and offering a discounted future cruise (which people aren't too excited about) and $500.

Download Carnival's Press Releases.

Download Carnival's Email to Past Guests.

Discussion Starters:

• Analyze Cahill's news conference: content, organization, tone, and delivery style. If you were his speech coach, on what would you compliment him, and what suggestions for improvement would you have?
• How did Cahill handle the "conditions" on board? Did he say enough? Too much? What are the difficulties in addressing the situation of sewage, etc.?
• From your perspective, did Carnival do enough do manage the situation? Is the compensation appropriate?

Marco Rubio's Notable Drink of Water

After President Obama's State of the Union Address, much of the chatter is not about his speech but about Marco Rubio's odd duck-and-reach move for water.

The Republican Senator from Florida was in tough spot, as are all politicians who follow a president's address. But in preparing for his response, Rubio could have done a better job planning where to keep-and how to access-water if he got thirsty.

The Atlantic Wire published a play-by-play "deconstruction" of the sip:

"Then, the reach. Rubio stopped talking, but maintained eye contact with the camera and kept his head level. Out of frame, he must have been doing a really weird crouch.

"At the moment of contact with the bottle, Rubio must break eye contact with the TV audience and look at his beverage. A false move and he would have toppled the mini-bottle! So it's a quick camera-bottle-camera zag. Poor guy didn't know his nose was behind the C-SPAN logo, but he still managed to keep his eyes floating above the graphic."

This isn't the first time Rubio's presentation skills were criticized. When delivering a speech about immigration reform, he lost a page of his script and had to retrieve a copy from a staff member.

But the senator has a sense of humor. He tweeted a picture of a Poland Springs water bottle and, 17 hours later, this: 

 
Not to miss a marketing opportunity, Poland Springs had some fun on its Facebook page. But this wasn't cute enough for The Huffington Post, which noted the company's response, delayed by a mere four or so hours: "Finally! After a dry spell of more than half a day..." 

Discussion Starters:

• What could Marco Rubio have done to prevent his awkward movement?
• How do you assess his tweets? What, if anything, could he have done differently?
• How do you assess Poland Spring's response? Do you agree with The Huffington Post's assessment that it took too long?

Jodie Foster's Emotional Golden Globes Speech

Jodie Foster, recipient of the Golden Globes 2013 Cecil Demille Life Time Achievement Award, had the audience in tears during her acceptance speech. Now 50 years old, Foster's career began when she was only three.

With a shakey voice near the beginning of her speech, Foster cued up a big announcement, which people long expected to be that she is a lesbian:

"I'm here being all confessional, and I just have a sudden urge to say something that I've never really been able to air in public, so a declaration that I'm a little nervous about, but maybe not as nervous as my publicist right now. Hi, Jennifer. But I'm just going to put it out there, loud and proud, right? So I'm going to need your support on this. I am... single."

....

"I hope that you're not too disappointed that there won't be a big coming-out speech tonight, because I already did my coming out about a thousand years ago back in the Stone Age, in those very quaint days, when a fragile young girl would open up to trusted friends and family and co-workers and then gradually, proudly to everyone who knew her to everyone she actually met,. "But now apparently, I'm told that every celebrity is expected to honor the details of their life with a press conference, a fragrance, and a prime time reality show. And you guys might be surprised, but I am not Honey Boo Boo Child. No, I'm sorry, that's just not me; it never was, and it never will be, but please don't cry because my reality show would be so boring."

Foster then talked about the challenges of being a public figure and maintaining a private life. She thanked her ex-partner and her two boys, who supported her during the speech.

Discussion Starters:

• What risks did Jodie Foster take in delivering this speech? What do you think were her fears?
• Why do you think she took as long as she did to come out publicly? Why did she choose this opportunity?

Herbalife's Unskilled Response to Criticism

After strong criticism of Herbalife, a multi-level marketing company, the CEO's response is wanting.

Bill Ackman, CEO of Pershing Square Capital Management, called the weight management and nutritional supplement company a "pyramid scheme." In a 334-slide presentation, Ackman explained why his hedge fund is shorting the stock, with a price of 0 and anticipation of the company's demise. Ackman said he felt so ,  "I don't want to make any money from this, 100% will go to the Pershing Square Foundation." 

Calling a company a "pyramid scheme" is a harsh blow. Such companies prey on people who buy into a business with little hope that they'll make any money. More typically, investors who buy in late lose everything.

The LA Times published CEO Michael Johnson's description of the company's reaction to Ackman's presentation:

"About 15 company officials, including Johnson, sat at a conference table in company headquarters and watched Ackman's presentation, growing angrier as he made his case.

"'There were a lot of cat-calls. He's not up to speed on the Herbalife of today,'" Johnson said. "'It was so filled with inaccuracies I haven't got the time. Our distributors get compensated for selling the product, not for recruiting.'"

Although Johnson said that the company would investigate the claims and respond in January, no other explanations or counterclaims were offered.

Discussion Starters:

• Review Ackman's slide presentation. What principles for visuals for an oral presentation does it follow? What are Ackman's strongest and weakest arguments? 
• How should Herbalife executives respond now?

NRA Press Conference Called a "Train Wreck"

Words like "shameful," "disaster," and "mean-spirited, cold, and misguided" have described the National Rifle Association's press conference in response to the Newtown, CT, school shooting that left 26 dead, including 20 children.  

In a tone best left for a boardroom plea to fund a new product, NRA Executive Vice President Wayne LaPierre, as expected, defended guns. His focus, presented early in the conference, was how to "protect our children." The organization's ideas are to have "an active, national database of the mentally ill," armed guards in schools ("a police officer in every school"), and armed teachers and principals.

LaPierre blamed video games, the media's misrepresentation of guns, decreasing prosecutions of violent crime, and the "criminal class: killers, robbers, rapists, and gang members, who have spread like cancer."  Using questionable logic, LaPierre warned that another hurricane or terrorist attack could bring about a "recipe for a national disaster." At one point, LaPierre seemed to blame the Sandy Hook teachers, who tried to intervene but couldn't without guns. He said, "The only thing that stops a bad guy with a gun is a good guy with a gun."

The speech was interrupted by protestors carrying signs and yelling, "The NRA has blood on its hands."

LaPierre said, "While some have tried to exploit tragedy for political gain, we have remained respectfully silent." The NRA had issued a statement to this effect. However, critics say the organization's silence on social media this week was a mistake and point out the contraction of President David Keene's closing line: "This is the beginning of a serious conversation, but we won't be taking questions today." In fairness, he also said that the group will answer questions next week.

Discussion Starters:

• Who was LaPierre's intended audience? To what extent would the press conference have appealed to that group?
• What do you think were the NRA's communication objectives for the conference?
• To avoid criticism, what could have been a better approach for the organization?

Police News Conference About the Newtown, CT, School Shooting

A terrible tragedy took place at an elementary school in Newtown, CT. A school shooting left at least 27 people dead, including 18 children (according to an MSNBC count to date). In the face of such an unimaginable event, state police delivered a news conference to update the public.

The news conference begins (at least what we see here), with an explanation of why the CT state governor isn't present at the conference.

Next, the lieutenant explained what happened, with a focus on safety. He also acknowledged fatalities but said that more information was not being released. In most situations like this, the priority is on notifying families: no one wants to hear on TV that a loved one has been killed.

The conference ends with promises for updates and assurance that "the public is not in danger."

Discussion Starters:

• This news conference is very soon: how well did the police handle the news? 
• What are the most important points that the police want people to know at this point? To what extent did they accomplish these objectives?

Bank of America CEO's "Star Trek Special"

This isn't a good week for Bank of America. A Rolling Stone article describes CEO Brian Moynihan looking foolish during his testimony about the bank's acquisition of Countrywide Financial Corporation, one of the companies that sold subprime mortgages before the 2008 crash:  

"In this long-awaited interrogation – Bank of America has been fighting to keep Moynihan from being deposed in this case for some time – Moynihan does a full Star Trek special, boldly going where no deponent has ever gone before, breaking out the 'I don't recall' line more often and perhaps more ridiculously than was previously thought possible. Moynihan seems to remember his own name, and perhaps his current job title, but beyond that, he'll have to get back to you.."

The full testimony is, for a court document, rather entertaining to read, including this excerpt: 

 

Discussion Starters:

• Read as much of the full testimony as you can tolerate. What's your view of how Brian Moynihan comes across?
• This is a difficult question without knowing the legal constraints, but how else do you think  Moynihan could have handled the questions?

Mayor Bloomberg's Messages and Delivery Style in Hurricane News Conference

To provide an update on Hurricane Sandy's impact on New York City, Mayor Bloomberg held a news conference on October 30.

The mayor began by thanking the signer and by saying that the conference is "an update on our progress in recovering from Hurricane Sandy." Immediately, he is framing his message as looking forward. However, he does, up front, acknowledge the severity of the storm:

"I don't think it's any secret, but Sandy hit us very hard. It was a storm of historic intensity, but New Yorkers are resilient, and we have seen an enormous outpouring of support from people eager to volunteer, donate, and help out." 

Bloomberg emphasizes the recovery plan in place,while, again, acknowledging that it will be a long process. His message is clear throughout the 24-minute conference: efforts to restore power, transit service, and business operations are under way. Throughout the news conference, Bloomberg shows appreciation for these efforts and provides phone numbers and other ways to get information and resources (e.g., disasterassistance.gov). 

The mayor's delivery style is appropriately serious throughout the new conference, but he shows little affect and tonal variation. At times, his messages are difficult to distinguish; the speech sounds like a laundry list of items, and we have to listen closely to digest all of the information. 

The mayor's style changes when he emphasizes one important point:

"I can't repeat this message often enough: stay away from city parks; they're closed until further notice. And report down trees and tree limbs to 311, not 911. Please, 911 will just have to remain free for making and receiving emergency calls about life-threatening issues."

During the Q&A period, the mayor becomes marginally more animated-using more hand gestures, smiling where appropriate, and making more eye contact (as expected when he's off script). During the section, his voice modulation is more natural, and we see more of the mayor's personality.

Today, the mayor addressed criticism for allowing the NYC Marathon to proceed this weekend.

Discussion Starters:

• What other observations do you have about the mayor's messages and delivery style?
• What's your view of Con Edison CEO Kevin Burke's segment? How effective are his messages and delivery style? How do they compare to the mayor's?

Obama, Romney Give Funny (Yes, Funny) Speeches

At a dinner for the Alfred E. Smith Memorial Foundation, both candidates showed their humorous side. In quips about themselves and each other, President Obama and Governor Romney had the crowd going.

Here are a few of the highlights of Romney's ten-minute speech:

• "It's nice to finally relax and wear what Ann and I wear around the house." (Formal attire)
• "I was actually hoping the President would bring Joe Biden along this evening because he'll laugh at anything." (Referencing the VP debate)
• "President Obama and I are each very lucky to have one person who's always in our corner-someone who we can lean on and someone who's a comforting presence without whom we wouldn't be able to go into the day. I have my beautiful wife, Ann; he has Bill Clinton."

Obama had his share of laughs in his nine-minute speech:

• "This is the third time Govenor Romney and I have met recently. As some of you have noticed, I had a lot more energy in our second debate. I felt really well rested after the nice long nap that I had during the first debate."
• (About the first debate) "For example, I learned that there are worse things that can happen to you on your anniversary than forgetting to buy a gift."
• "I went shopping in some stores in Midtown. I understand that Governor Romney went shopping for some stores in Midtown."
• "Mitt is his middle name. I wish I could use my middle name."

Discussion Starters: 

• Watch both speeches. Do any of the jokes surprise you?
• In what ways, if any, do the speeches sway your thinking about the candidates?

RIM Struggles to Gain Enthusiasm for BlackBerry 10

With decreasing market share, Research in Motion (RIM) is plugging its latest BlackBerry. Through a spoof music video, a CEO video, and other communications, the company is declaring a comeback of the souring brand.

The music video, targeted to developers, didn't go over too well. With the article subtitle, "Not even dad rock can save RIM," a writer for BuzzFeed said, "I mean.... Someone, probably a millionaire with a VP title, had to sign off on this."

 Feedback on Twitter wasn't too positive either:

CEO Thorsten Heins spoke as the BlackBerry Jam Americas Keynote. Do you find the first nine seconds "exhilarating"?

One blogger wrote a disappointing review for BlackBerry 10, summarized in this way:

"The general theme of Heins' keynote was that the company is trying hard to come back from the brink. In fact, at several points, Heins talked about fighting back. And while it's good to see that BlackBerry 10 has seen some significant advances in the past four months, the fact that we still haven't seen any final pieces of hardware beyond the Dev Alpha Developer Kit, is somewhat disheartening."

Rick Perry's Debate Gaffes Blamed on Lack of Sleep

With the upcoming presidential debates, we're reminded of Rick Perry's trouble during the Republican primary. At his worst, he couldn't remember the third government agency he would eliminate if he became president. (It was the Department of Energy.)

A new book, "Oops," blames Perry's failings on his insomnia for weeks during the campaign. Author Jay Root, who covered the  campaign, says that Perry was finally diagnosed with sleep apnea, for which he was given a machine to help regulate breathing.

In his book, "Sleep for Success!," Dr. James Maas, professor at Cornell University, warns that lack of sleep "significantly affects mood, performance, relationships, health, and even longevity."

Discussion Starters:

• Do you believe that lack of sleep caused Perry's debate problems? Here's an embarrassing sequence of his failings during the campaign.
• Other than getting more sleep, how could Perry have improved his debate performance?

Analysis of Michelle Obama's Speech

Elaine Brye, mother of four servicemen, introduced Michelle Obama at the Democratic National Convention. Using alliteration, Brye said, "I'm not even a political person, but what I am is a military mom." Unfortunately, Brye's speech wasn't properly reviewed; two grammatical errors slipped by: "...she invited my husband and I to the White House" and "...like I said..."

After the introduction, the First Lady spoke to an enthusiastic crowd.

Reporters for The New York Times added commentary throughout Michelle Obama's speech. The article shows the speech transcript and includes selected video clips with annotations. Jodi Kanter notes Michelle Obama's use of emotional appeal and her attempt to relate to the American People:

"This speech could be called 'The Obamas Next Door.' It's all about how they are regular folks who have experienced economic struggle."

Another reporter notes contrasts between this speech and Ann Romney's: 

"In contrast to the speech that Ann Romney, Mitt Romney's wife, gave at the Republican convention last week, Mrs. Obama avoids any kind of political confrontation: No talk of Republicans or Romney or even the other side.

"There is much talk of the Obama family, and the experience of raising two daughters in the White House -- something that concerned her, she said, when Mr. Obama first began running for president. But the political discussion is limited mostly to discussing Mr. Obama's record: in pushing health care legislation, in supporting abortion rights. The attacks, by design, have been left to the other speakers."

Discussion Starters:

• Watch Michelle Obama's entire speech. What is your impression? What does she do well, and what suggestions would you offer?
• Now watch Ann Romey's speech, and answer the same questions.
• Which speech do you believe is most effective and why?

Anaphora Wins in Chris Christie's Speech

Several rhetorical devices were thrown about at the Republican National Conventional on Tuesday. But the most popular was anaphora in Chris Christie's speech. (Transcript)

As the keynote speaker for the convention, the governor of New York uses repetition at the beginning of his sentences at least four times:

1:00

"Proud of my party, proud of my state, and proud of my country."

2:55

"I am her son.

"I was her son as I listened to "Darkness on the Edge of Town" with my high school friends on the Jersey Shore. I was her son as I moved into a studio apartment with Mary Pat to start a marriage that is now 26 years old.

"I was her son as I coached our sons Andrew and Patrick on the fields of Mendham, and as I watched with pride as our daughters Sarah and Bridget marched with their soccer teams in the Labor Day parade.

"And I am still her son today, as governor, following the rules she taught me: to speak from the heart and to fight for your principles. She never thought you get extra credit for just speaking the truth."

5:30 

"But tonight, I say: ‘enough.'

"I say, together, let's make a much different choice. Tonight, we are speaking up for ourselves and stepping up.

"We are beginning to do what is right and what is necessary to make our country great again.

"We are demanding that our leaders stop tearing each other down, and work together to take action on the big things facing America.

"Tonight, we choose respect over love. We are not afraid. We are taking our country back."

23:50

"Tonight, we choose the path that has always defined our nation's history. Tonight, we finally and firmly answer the call that so many generations have had the courage to answer before us.

"Tonight, we stand up for Mitt Romney as the next President of the United States."

Christie used metaphors as well:

• 2:42 - "She was tough as nails and didn't suffer fools at all. The truth was she couldn't afford to. She spoke the truth – bluntly, directly and without much varnish."
• 12:48 - "Their plan: whistle a happy tune while driving us off the fiscal cliff, as long as they are behind the wheel of power."

To raucous applause, Ann Romney also used anaphora in her speech Tuesday night (13:20):

"No one will work harder.  No one will care more.  And no one will move
heaven and earth like Mitt Romney to make this country a better
place to live."

Discussion Starters:

• What is the value of using rhetorical devices in a speech?
• What other rhetorical devices can you identify in Christie's speech?

Romney's Bus Tour PPT

We get a glimpse into the Romney Campaign by looking at the PowerPoint shown on a recent bus tour. The slides were intended as a briefing for press, who were on board to visit Ohio, Virginia, North Carolina, and Florida.

Romney bus tour ppt

Of course, the slides are the requisite red, white, and blue, but we notice several other interesting components of the PPT. Without judging the content, overall, the slides conform to basic business writing principles:

• Good balance of text and graphics
• Good talking headings ("message titles")
• Good data comparisons with simple bar charts

But the slides could be improved:

• An agenda or preview
• Better color contrast in parts
• Sentence case titles, rather than all caps, which are difficult to read
• Better color choices in parts (e.g., slide 8)

Also, I'm all for a conversational style, but some of the language looks odd (e.g., "a ton," "under water"?).

Assignment Ideas:

• Improve slide 5. The comparison to 2008 could be easier to read.
• What are the key messages of the campaign's slides? How would you summarize the objectives of the presentation?

Paul Ryan's First Speech as Romney's Running Mate

Paul Ryan, Mitt Romney's choice for vice president on the Republican ticket, gave his first speech in the role.

Ryan had an awkward start: Romney mistakenly introduced him as "the next president of the United States." Romney recovered by rejoining Ryan at the podium saying,

"Every now and then I'm known to make a mistake. I did not make a mistake with this guy. But I can tell you this: he's going to be the next vice president of the United States."

Coincidentially, in 2008, President Obama made the same mistake when introducing Joe Biden, his running mate at the time: "So let me introduce to you the next president-the next vice president of the US of America, Joe Biden." I guess they were both a little nervous.

Much of Ryan's speech touted Romney's qualifications for the job:

"And I believe there is no person in America who is better prepared-because of his experience, because of the principles he holds, and because of his achievements and excellence in so many different arenas-to lead America at this point in its history."

Predictably, he also criticized the Obama Administration:

"President Obama, and too many like him in Washington, have refused to make difficult decisions because they are more worried about their next election than they are about the next generation. We might have been able to get away with that before, but not now. We're in a different, and dangerous, moment. We're running out of time-and we can't afford 4 more years of this."

Read the Romney's and Ryan's speeches here.

Discussion Starters: 

• What's your view of Ryan's speech? Which are the most and least effective parts?
• How do you assess his delivery skills? What does he do successfully, and what should he work on leading up to the election?
• In the excerpt of Ryan's speech, above, what rhetorical device does he use?
  

Knight Capital Group CEO Responds to Trading Glitch

Thomas Joyce, CEO of Knight Capital Group, has lost no time in addressing concerns about a trading software problem that almost doomed the company. The error caused price distortions in almost 150 stocks, and Knight lost $440 million in a half-hour. In total, Knight has lost 600 million shares.

Joyce has been vocal on business news programs, trying to rebuild confidence in Knight. Sources say he has been transparent about the error and about the company's decision to accept a cash infusion.

On CNBC, Joyce started on a positive note. He said that the industry has responded well to the crisis: "The wildly flattering thing was how our clients responded to us." Joyce then said that the company made clients the priority, admitting, "There was a problem. We took the consequences. None of our clients took the consequences. And, importantly, the industry didn't suffer."

Joyce also explained what happened: "Sadly, it was a very simple breakdown...an issue with trading technology... Right now, we're doing an internal investigation." Joyce was firm about coming up with solutions.

When Joyce was asked about an interaction with SEC chair Mary Shapiro, Joyce addressed the question directly. He admitted contacting her while on vacation to request that the SEC cancel some of the incorrect trades. She refused. 

"She did what she thought was right for the industry... I'm kind of biased, I wish she had made a different decision, but she did what she thought was right..."

Discussion Starters:

• Watch Joyce's interview on CNBC.What strategies does he use to rebuild confidence in the firm?
• What non-verbal communication skills does Joyce use during the interview? Which are effective, and which, if any, are not?

Jamie Dimond Responds to More Questions

Following JPMorgan Chase's spectacular trading loss, CEO Jamie Dimon is still on the hot seat to explain what happened. Today, on the second-quarter investor conference call, analyst Mike Mayo asked particularly difficult questions.

Mayo asked "if the firm as a whole has reached some sort of tipping point in terms of bigness or complexity that makes it more difficult to manage than in the past." Dimon responded, "No." Mayo followed up by asking whether Dimon has "lost a step," and someone yelled, "Are you getting old?"

Dimon focused on the firm's successes through the recession and in assimiliating Bear Stearns and Washington Mutual. He claimed that the issue is a marketing problem.

However, Dimon did admit, as he had before, "We made the mistake," but also said, "I cannot prove a negative." To regain trust, Dimon emphasized the firm's current structure: "We believe we've got very good controls and very good people in place."

Dimon focused on the bank's results, and Mayo acknowledged the positive returns but said, "But we saw how the sausage is made, and it just makes me wonder if I'm going to get food poisoning in the future."

Discussion Starters:

• Listen to the exchange between Mayo and Dimon. What's your assessment of Mayo's interview strategy? What are his most and least effective questions?
• What are Dimon's most and least convincing arguments?