What Does a Mega Brand Like B of A Do When Wikileaks Comes a Callin’?

By: Cynti Oshin

Director of Client Services & Business Development

Its stock drops. And it did. Wikileaks is rumored to be doing a ‘bank dump’ in early 2011. What would it be about? Former employee, Hal Blackwell, who was fired back in 2009 states that the bank knew of its enormous liquidity problem in 2008 but told clients and investors otherwise. If indeed this was the case, he was high enough on the food chain to be a witness to this.

http://www.businessinsider.com/what-does-wiki-leaks-have-on-bank-of-america-2010-12

Bnet points out the vulnerability of the BofA brand, as evidenced by a 3% stock drop based on a rumor alone. Author, Margaret Heffernan’s opinion is that BofA has fallen victim to ‘willful blindness’. An illness suffered by BofA and innumerable other super brands. Her advice? If you’ve got a skeleton in the closet, pull it out and take a good, long hard look at it. Admit it, deal with it. Manage your brand with integrity and you can sleep at night without worrying about the likes of Wikileaks bringing you down.

Watch the Video here: http://www.youtube.com/watch?v=b7PP-w90asE

http://www.bnet.com/blog/business-strategy/bank-of-america-is-not-the-only-company-that-should-fear-wikileaks/957?promo=713&tag=nl.e713