There Is Nothing like a Nap

Ken Makovsky, the CEO of our public relations firm, has written about the benefits of “power napping” on his blog, My Three Cents. He passionately believes that naps enhance information processing and learning, reverse information overload and increase productivity. He’s definitely not alone in his views.

If you too want to deploy a napping strategy to become “smarter, healthier and safer,” it’s worth checking out the Boston Globe feature, “How to Nap.” It’s not just a great in-depth look at the myriad health benefits of naps and how to attain them, it’s also a great example of how to use a well-designed visual to effectively communicate complex information quickly and easily.

The Demise of Truth?

A couple of years ago, in his My Three Cents blog, PR guru Ken Makovsky wrote about the concept of “truthiness,” a word coined by the Stephen Colbert, host of the Comedy Channel’s Colbert Report. Truthiness is believing what you feel or wish were true, without reference to logic, evidence or facts.

There’s new book out called True Enough: Learning to Live in a Post-Fact Society, by Salon.com staff writer Farhad Manjoo. In it, he explores the idea — well supported by cognitive scientists— that when the facts don't fit a person’s frame of reference, the frame stays and the facts are ignored.

Manjoo cites a study by Stanford professor Shanto Iyengar and Washington Post columnist Richard Morin who tested Republicans and Democrats’ reactions to a list of headlines covering topics ranging from politics and race to travel and sports. The headlines were randomly paired with one of four logos: BBC, CNN, Fox and NPR. Not only did the Fox logo triple Republicans’ interest in stories about politics and Iraq, it even increased Republicans' interest (and decreased Democrats' interest!) in headlines about travel and sports.

The rise of the internet and the disintermediation of the mainstream media were supposed to help us get to the truth faster than ever before. But when people choose to read only the news that supports their ingrained prejudices, those of us who are responsible for public relations and brand management must recognize that we are facing a bigger challenge than ever before.

An Unintended Side Effect of the Subprime Fiasco

Since our public relations firm is based in New York — a world center for banking and financial services — we’re following the ins and outs of the subprime mortgage crisis with more than average interest interest. In fact, our president, Ken Makovsky, has written about it on his My Three Cents blog.

One of the more interesting side effects of the scandal was reported by Bloomberg News: “Judges in at least five states have stopped foreclosure proceedings because the banks that pool mortgages into securities and the companies that collect monthly payments haven't been able to prove they own the mortgages.”

The article goes on to report that a man named Joe Lents in Boca Raton, FL, hasn’t made a single payment on his $1.5 million mortgage since 2002, when his mortgage bank, Washington Mutual, first tried to foreclose on his home. The efforts ceased when WaMu couldn’t find the paperwork!

“If you're going to take my house away from me, you better own the note,” said Lents.

He’s one of the lucky ones. Millions of other subprime homeowners are on the verge of bankruptcy and foreclosure. If the banking industry doesn’t address its own shortcomings, it better be ready for the inevitability of regulatory intervention if we want to protect consumers and the U.S. economy.