Posted by Christopher Stevenson
As a parent and resident of a town where Mattel is a major employer, I've been watching with interest the recent recall of 9 million Chinese-made toys. And even as I was wondering whether or not I was going to have to dispose of my son's Batman action figures (which, although cool, are nowhere near as cool as the Mego action figures I had when I was his age), I was wondering how the company was going to handle the bad press generated by toys that can poison kids and cause perforated intestines. I had my doubts, but Mattel proved me wrong.
This weekend, CEO Bob Eckert posted a video on Mattel's Web site. In it, he makes no excuses, but outlines the reasons for the recall and explains the steps Mattel is taking to ensure the safety of their toys. Eckert falls short of an apology, but the video, combined with an easy to read FAQ Web page, effectively reassures consumers that they can trust Mattel's toys. It's a model for effective damage control.
How well prepared is your credit union for damage control? Whether it's a possible data breach or alleged crooked employees, your CU could face PR nightmares you'd never dream of. Are you prepared?
One question for Eckert, though. Why isn't the video on YouTube?
