Merrill Lynch: corporate apologia and business fraud

Merrill Lynch: corporate apologia and business fraud In April 2001, New York Attorney General Eliot Spitzer accused Merrill Lynch of fraud, creating a public relations crisis for the investment firm. The crisis was caused by the disclosure of damaging emails in which analysts referred to stocks that they were selling as “a piece of junk” or “trash.” Consequently, this monograph examines the apologetic crisis management discourse proffered by Merrill Lynch to restore its reputation. It argues that since companies are unwilling to admit responsibility due to liability concerns, in contemporary discourse compensation should be read as an argot that functions as an admission of culpability. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Public Relations Review Elsevier

Merrill Lynch: corporate apologia and business fraud

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Publisher
Elsevier
Copyright
Copyright © 2004 Elsevier Inc.
ISSN
0363-8111
DOI
10.1016/j.pubrev.2004.08.008
Publisher site
See Article on Publisher Site

Abstract

In April 2001, New York Attorney General Eliot Spitzer accused Merrill Lynch of fraud, creating a public relations crisis for the investment firm. The crisis was caused by the disclosure of damaging emails in which analysts referred to stocks that they were selling as “a piece of junk” or “trash.” Consequently, this monograph examines the apologetic crisis management discourse proffered by Merrill Lynch to restore its reputation. It argues that since companies are unwilling to admit responsibility due to liability concerns, in contemporary discourse compensation should be read as an argot that functions as an admission of culpability.

Journal

Public Relations ReviewElsevier

Published: Nov 1, 2004

References

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