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Conference 7.286::dcu

Title:	DCU
Notice:	1996 BoD Election results in 1004
Moderator:	CPEEDY::BRADLEY

Created:	Sat Feb 07 1987
Last Modified:	Fri Jun 06 1997
Last Successful Update:	Fri Jun 06 1997
Number of topics:	1041
Total number of notes:	18759

318.0. "Contacting the Public Press" by SAINT::STCLAIR () Wed Oct 16 1991 12:31

I am entering this as a separate topic because several people have
indicated that they are very frustrated with the BoD and DCU personnel.
I beg you don't use the press to either vent you frustration or
leverage the results you desire. The results could be very damaging
to all members of the DCU.

I don't think we appreciate the size and importance of the DCU
as a financial institution. I came to realize that when my son
worked on Wall Street as an analyst in the research dept of a 
major brokerage. His area was banking. They watched one credit union 
ours. They watched it because they felt it was significant as an 
indicator of the financial industry.

If it is ever appropriate to contact the public press I for one should
like to know that the person making the disclosures is not going
to hurt me in the process. Since I feel there is far too much emotion
and too little information to ensure a thoughtful disclosure by anyone
I request discretion from everyone.

Thanks

T.R	Title	User	Personal Name	Date	Lines
318.1		CVG::EDRY	This note's for you	`Wed Oct 16 1991 12:33`	7
	RE: .-1 How do press releases "Hurt You"?? - b
318.2		MIZZOU::SHERMAN	ECADSR::Sherman DTN 223-3326	`Wed Oct 16 1991 14:16`	12
	I think it dependes on who is doing the release and what's in it. If you claim to represent Digital or anyone other than yourself, watch out for incoming. Ditto if you include information that is not already in the public domain. And, caveats when you make assertions for which you could be legally liable. Make the press release nice and safe by following all the above guidelines. And, then be prepared to wait a long time - cause the press only wants the juicy stuff! I'm an advocate of limited press involvement. My paramount concern is that I don't want outside influences (like press and lawyers) to distort or interfere with information exchange between shareholders and the Board. Steve
318.3		GUFFAW::GRANSEWICZ	Someday, DCU will be a credit union.	`Wed Oct 16 1991 14:40`	10
	People, whether we want them or not, they can show up at the meeting. They will not be allowed in because it is for DCU members only. The U.S., being the free country that it is, allows news coverage of anything the media deem appropriate. Therefore if they deem this important, expect coverage. Having coverage is not necessarily a bad thing IMO. There are thousands of DCU members that may still be unaware of what all this is about.
318.4		NETATE::BISSELL		`Wed Oct 16 1991 15:03`	8
	Somebody should be prepared to ask for a secret ballot. How many of the DCU employees would be willing to risk their jobs by voting againt the BOD. Even if the BOD is removed, CC is still there. There will be lots of employees (DCU) there as this impacts their jobs and they may be "encouraged " on how to vote. Has anyone submitted this to "livewire" ?
318.5		GUFFAW::GRANSEWICZ	Someday, DCU will be a credit union.	`Wed Oct 16 1991 15:51`	15
	>Somebody should be prepared to ask for a secret ballot. How many of the >DCU employees would be willing to risk their jobs by voting againt the BOD. >Even if the BOD is removed, CC is still there. > >There will be lots of employees (DCU) there as this impacts their jobs and they >may be "encouraged " on how to vote. A very good point. >Has anyone submitted this to "livewire" ? Yes. Working the issue. More later.
318.6	how to get the press into the meeting	CIMNET::KYZIVAT	Paul Kyzivat	`Wed Oct 16 1991 20:41`	8
	> People, whether we want them or not, they can show up at the meeting. > They will not be allowed in because it is for DCU members only. I think the probability is great that there is at least one member of the press who IS a DCU member, by virtue of being a relative of a Digital employee. I'm not sure how to find them, but I bet there is one. Paul
318.7		CROW::KILGORE	Digital had it Then!	`Wed Oct 16 1991 23:24`	7
	Re .6: Gee, I'd call every paper I could think of, tell them what's coming and that only a correspondent who is also a DCU member would have access. If they're intereted at all, they'll do the searching for you.
318.8		GUFFAW::GRANSEWICZ	Someday, DCU will be a credit union.	`Thu Oct 17 1991 00:15`	7
	RE: .6 & .7 If there is a DCU member that works for the press I can almost guarantee you they will be there! I'm sure they can smell this story a mile away.
318.9	It's best to keep the press out	STOKES::NEVIN		`Thu Oct 17 1991 13:22`	10
	Given the number of banks and credit unions in New England which have failed recently, I don't think that it is in the best interest of DCU or ITS MEMBERS to have the press involved. Stories of this type are generally exaggerated, and news which would imply that the DCU is in major trouble (which it clearly is NOT), would be counter-productive. If the press shows up on its own, that's one thing, but I think that we are only shooting ourselves in the foot if we invite them. Bob
318.10	Please, no press.	AURORA::MACDONALD		`Fri Oct 18 1991 09:27`	14
	Re: .9 I agree. Let's chill out a little about the press. If they would be interested in this sort of thing, they probably already know about it and have plans to cover it. If we invite the press in, then once in, they proceed according to their own agenda. They will cover it as they want to further their interests. That might or might not work out in our favor. I don't think the risk is worth whatever additional benefit they might bring. Steve
318.11	.9 Understands the point of this note exactly	SAINT::STCLAIR		`Fri Oct 18 1991 09:53`	4
	Thanks Bob for clearly echoing my concerns. /doug