Eric's Memo about Publications
Memo to Steven Hess
Thank you for your kind encouragement.
You may be interested to know that we do not strategically time News Releases as to specific hour of the day for the following reasons:
· There is no consensus as to what constitutes optimal release hour
· Even if there were, the timing issue may be affected by larger context variables
· Markets are increasingly international – what is the effect upon Frankfurt for example?
· Conscious efforts of that type would constitute market manipulation by Winning Brands, and in the process of bringing benefit to some, might harm others inadvertently. Our impartiality is a part of the trust equation.
· If News Releases are authentic, their impact will survive the time of day issue by having enduring material impact upon the understanding of the firm, and thus its worth, for better or worse
As a matter of policy, if Winning Brands issues News Releases refer to 3rd parties, the company ensures that it has the prior consent of such parties, or where it is not considered necessary that the consent be explicit, then that the News Release does not cause an undesired consequence in respect of the 3rd party at least. This takes time to determine through a process of drafting and vetting the News Release to achieve highest possible accuracy. When persons are quoted, then their comments must first be reviewed by them exactly as noted and their consent obtained in writing to ensure that there is no misunderstanding by Winning Brands as to what was quoted. This policy benefits Winning Brands shareholders because the company’s News Releases become a source of information of legitimate interest to the investment community, or the community at large and withstand scrutiny from any governing agency.
A further factor affecting intra-day timing is the news wire organization itself. Prior to an item “crossing the wire”, it must be confirmed by the news dissemination group that the item was put out by the organization claiming to have done so. If photos are included (as is usually the case for Winning Brands), then they must be formatted and captioned. Also, the news wire organization requires payment – which in order to keep at the best possible price, Winning Brands settles at the time of release. There are mechanics involved in this payment procedure.
Finally, on a cultural note, it must be remembered that News Releases also are seen by people and organizations in the affected industry. Winning Brands shows restraint by avoiding references which may compromise the confidentiality of other companies’ commercial activities if they appear to prefer it. Failure to do this would change the nature of Winning Brands’ current and emerging relationships with major retailers from one of trusted business partner to something crassly self-serving.
Winning Brands would rather earn and retain a good reputation for its shareholders rather than to buy Andy Warhol’s 15 minutes of fame through promotional tricks.
Eric Lehner, CEO
Winning Brands Corporation
Trading Symbol: WNBD