Lance Armstrong’s confession, though not in the least bit surprising, was one of the hottest news topics this week. In addition to how this affects him as an athlete and a celebrity, it also opened a can of worms as to how this affects his brand, his image, his reputation and perhaps most importantly, his foundation, Livestrong.
Though it may not seem like an obvious business story, Nick Balletta, CEO of TalkPoint, took a look at the situation from a business perspective and weighed in for a CNBC.com blog post. This is a great example of hijacking current events and pairing them with executive’s passion points. Nick is an athlete as well as a businessman, and he had a very strong point of view on the Lance-debacle, as you can read below. Do you think Lance will “Emerge-strong?”
CNBC.com | Friday, 18 Jan 2013
It wasn’t spousal abuse. It wasn’t animal abuse, it wasn’t murder. It certainly wasn’t child abuse or a subsequent child abuse cover up. Sound familiar? Unfortunately, they all sound familiar and are all too common when it comes to American celebrities, and in particular, professional athletes.
It was a lie, and for that, Lance Armstrong must pay and pay dearly he will. His titles, his awards, his medals and his legacy, are at best damaged, but in reality, mostly gone. Not even the secular confessional of Oprah can bring them back. Lance is done.
That’s Lance the athlete, but what about Lance the humanitarian and philanthropist? The cancer survivor and founder of Livestrong?
If you speak with anyone whose family member was treated for cancer at the University of Pennsylvania or the parent of a child who was treated at Cook’s Medical Center, you will definitely get a different perspective. How about the children whose parents fought cancer and they received counseling from Wonders and Worries or all of the Katrina survivors that received financial aid? How about the thousands of families over the last 15 years that have benefited from the support of Livestrong? They don’t care about the “lie,” they are living the truth.
In business terms, it’s time for “Philanthropist Lance” to go through a restructure. A Chapter 11 restructure is not the end for a company; it is a new beginning. It only works, however, if underlying assets have true value.
Conversely, the media pundits will tell you that “Athlete Lance” is finished. For “Athlete Lance,” they will say it’s not restructure time, but liquidation time; a Chapter 7 in business terms. In Chapter 7, you shut it down, unwind it, sell off the assets, go into the abyss and quietly into the night.
The parents, the survivors, the fighters, the families and the medical professionals don’t care about “Athlete Lance.” They believe in “Philanthropist Lance” and the value of the underlying assets. They are living proof of the good he has done and the value he has brought and can continue to bring. They will help him restructure. The brand may be damaged now, but that does not mean it can’t be salvaged or saved. Remember Chrysler, Macy’s and most of the airlines? Some of the largest brands in the world have been through the restructure process. These companies shed the baggage, recapitalized, kept the good assets and went on to fight another day. It’s time for Lance to regroup with the people that will reinvest and support him so he can emerge from the bankruptcy.
I have completed a few triathlons (although I don’t consider myself a triathlete) and can really appreciate the achievements of “Athlete Lance.” PEDs notwithstanding, anyone who competes in the Tour de France is in many ways superhuman.
More people have been touched by cancer than cycle or complete triathlons. Anyone who battles cancer or supports one who does needs to put out an effort that is herculean. There are exponentially more people who understand that. None of them know what it takes to ride a bike up a mountain, nor do they care. Lance needs to focus his efforts on that constituency and get them to reinvest in his “restructure.”
Apology accepted, Lance. Now let’s get back to the real work.
Nick Balletta is CEO of TalkPoint, an industry leader in global communications technology.
© 2013 CNBC.com
We’re in the throes of election season where topics like job creation and unemployment rates are being thrown around by candidates, pundits and citizens, alike. Did you catch last night’s debate?
While both sides of the aisle have ideas for change, Jim Clifton, the Chairman of Gallup, suggested that what we really need is more entrepreneurship inspiring people to start companies and grow organizations, ultimately leading to more job opportunities.
Well, Forbes’ Alan Hall recently spoke with 100 founders of growing businesses about the “Aha” moments that solidified their decision to move forward with their entrepreneurial initiative -– what inspired them, how they did it and ultimately, how many jobs they created in the process.
Our very own Samantha DiGennaro weighed in, explaining that after 15 years as a corporate communication executive at global companies where corporate politics “starved her soul,” she knew she could build a better alternative. And so, DiGennaro Communications was born.
Read on to be inspired by the experiences of 99 other talented entrepreneurs in “100 Founders Share Their Top “Aha” Moments — Guess How Many Jobs They’ve Created So Far?”
Agency honored by the NY Enterprise Report (NYER) for attracting and retaining an empowered workforce.
It’s an exciting time at DGC. On Wednesday night, the team was honored at this year’s NY Enterprise Report Small Business Awards. This prestigious event honors the achievements and accomplishments of the more than 500,000 small businesses throughout the NYC-area.
Selected as winners in the Leadership Category, the nomination was based on DGC’s ability to “identify, attract, retain and motivate a workforce that establishes a culture of empowerment.” And that’s exactly how we at DGC see it!
From the moment our doors were opened, CEO Sam DiGennaro has made it her mission that every employee feels as though his or her voice matters. Our culture is based on collaboration, motivation and interaction. Best of all, DGC cares about the importance of work-life balance and have made sure we sprinkle our work weeks with a little fun (hello, wine-o Fridays.)
In fact, this isn’t our first rodeo with NYER—we picked up their Top 10 Great Entrepreneurial Places to Work in 2011; another great honor.
The awards dinner was a great opportunity for us to meet, mingle and celebrate with the who’s-who of the tri-state’s SMB community. Succeeding in small business is no mean feat so a big congratulations also to our fellow nominees and winners.
Earlier this week we found out that we have been named finalists in two Stevie Awards (the world’s premier business awards) categories and our fingers and toes are crossed for the November 9 announcement. Our nominations are in the Female Entrepreneur of the Year—Business Services with more than 10 employees and the Company of the Year—Business Services with more than 10 employees categories.
Here’s to another great year at DGC.