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American Express Company

This has the feel of a big week. The headlines that clicked by on Bloomberg today captured a different zeitgeist than last week, a sense of a logjam of rhetoric and disconnection break open.

Commentators will have a field day, but it’s worth taking a look at how the rhythm of the news shifted.

1-21 hed 11 go 1.pngHere’s the summary of the day.

  • The activity that drives jobs and the economy — manufacturing and services — is gearing up, albeit slowly.
  • The employment market continues to stabilize.
  • Obama, faced with a strategic defeat in Massachusetts, quickly tunes into popular opinion, backs off health care and goes straight after the Wall Street titans.
  • Consumers are beginning to spend more, and the biggest Wall Street giant of them all bows to popular opinion to cut back its bonus pool, after using a Federal subsidy to post its highest earning year ever.
  • In the midst of this sudden shift in momentum, the market slides, unclear what the implications are and in a hurry to hedge its downside risk.

Here’s the highlights from Bloomberg:

U.S. Economy: Leading Index Rises More Than Forecast

The New York-based Conference Board’s gauge of the outlook for the next three to six months climbed 1.1 percent, the most in three months, after increasing 1 percent in November. The gain exceeded the median forecast in a Bloomberg News survey for a 0.7 percent rise. Another report showed Philadelphia-area manufacturing expanded in January for a fifth straight month.

Factories in Philadelphia Fed Region Grew in January

Increases in exports and business investment, combined with a need to stabilize inventories, may promote further gains in manufacturing in early 2010. The report corroborates figures issued by the Fed Bank of New York last week that showed factories in that region accelerated, indicating the rebound is broad-based.

Jobless Claims in U.S. Unexpectedly Rise on Backlog

The jump was due to an “administrative” accumulation from late December and early January holidays, and did not reflect “economic” reasons, a Labor Department spokesman said.

Obama, Democrats Signal Willingness to Scale Back Health Bill

President Barack Obama and House Democratic lawmakers signaled a willingness to scale back legislation overhauling the U.S. health-care system after the party suffered a defeat in a key Senate race.

Obama Calls for Limiting Size, Risk-Taking of Banks

President Barack Obama, tapping into voter anger over bank bailouts, called for limiting the size and trading activities of financial institutions as a way to reduce risk-taking and prevent another financial crisis.

American Express Profit Surges as Spending Rebounds

“We still face the challenge of high unemployment levels, depressed real estate values, and shrunken household balance sheets, but the overall economy and our company are in stronger shape than they were a year ago,” Chenault said in the statement. “While the economic recovery now under way is likely to be modest, we expect it to continue and have begun to shift our focus to growing American Express for the longer term.”

Goldman Sachs Posts Record Profit on Bonus Pool Cuts

“The big story is the compensation,” said Keith Davis, an analyst at Farr, Miller & Washington LLC in Washington, which manages about $650 million, including Goldman Sachs shares. “They got the message that politically they can’t be paying out close to 50 percent of revenues anymore, at least for the time being. Obviously, that’s the primary reason for the beat.”

Stocks, Commodities Slide, Treasuries Gain on Obama Bank Reform

“Financials are selling off and dragging down the market,” said Michael Nasto, the senior trader at U.S. Global Investors Inc., which manages about $2.5 billion in San Antonio. “There’s concern about an overhaul of financial services companies, with increased regulation, hurting the bottom-line of banks.”

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The top 10 posts on ViralHousingFix in 2009

by drm on December 17, 2009

As the year winds down, I was curious which posts over the course of the year were the most popular. I was pleased to see that the posts that had resonated the most with all of you were ones that I felt like I’d achieved some clarity around an idea that I’d been working through. (It’s also interesting that these posts are among the most frequently accessed through search.)

2BD74A81-08D5-4550-9EA1-6EBAC3D5B628.jpgThe number one post was from March: Social Media Can be A Marketing Platform. This was when we were taking Network Communications into its Project Massive Network, an effort to get every person in the company using social media to broaden and intensify their professional connections.

Through the year, I kept meaning to come back to the concept of Evangelist. The word too easily connotes intense passion, while I believe that the most effective Evangelists are the ones who have completely integrated their nature with their passions, so that they communicate a relaxed enthusiasm that inspires and attracts others. Evangelism is too often associated with a mania and mono-focus that can be off-putting.

D819E31E-C348-4B35-93E6-E7D87C21533B.jpgThe number two most-popular post was a very detailed case study that I did in June about migrating our marketing strategy at Apartment Finder to a social media focus. My intent with this post was to demonstrate each of the steps that we had taken to extend our communications with the multi-family marketplace to multiple platforms, and our efforts to modify and adapt our messaging to the unique attributes to the platforms. This effort continues today and deserves a follow-up: the most challenging aspect of the initiative is maintaining continuity and assessing its effectiveness. Despite our intent focus, we have areas of spotty execution with our own program.

1839AA50-C660-44DF-BBC7-BB376E3C0706.jpgThe third most-popular post was my first attempt to consolidate the thinking that I’d been doing about how a traditional publishing content workflow needed to adapt to accommodate the inclusion of social media platforms. In Thoughts on Evolving the Content Strategy in Publishing to Leverage Social Media I outlined the Sharing Model of content creation. This model outlined here as served as a framework for developing new processes at our regional home design brands, and in some instances we’ve seen significant impact on audience and enthusiasm. The process is a living work in progress.

424419D6-7C15-4F88-8478-C009DE4A1074.jpgThe fourth most frequently viewed post is an down-and-dirty analysis of State Farm’s presence on Facebook. This was a period when I was trying to understand the challenges that face traditional marketing departments when implementing social media programs. The post was published in April and is one of the two most-frequently accessed posts through Google search. I recently re-visited the State Farm Facebook sites and little had changed.

05205260-1641-42FB-84AE-D597922B40BB.jpg In the Spring, I was doing a lot of work to try to quantify the impact of the economic decline on consumer spending, marketing outlays and media allocations. In an early April post, I pointed out the contradiction between industry research showing the effectiveness of TV and magazine advertising and the steep declines in revenue. The point: When marketing budgets shrink, the most expensive media goes first.

B5EDAFBE-67C2-4965-BE72-021862F64475.jpgI’m kind of proud that a self-serving post doesn’t show up until the number 6 spot. Over a period of 6 months, we radically shifted our traffic strategy at ApartmentFinder.com in order to leverage what we percieved as our core strengths. This shift was rewarded in April when Comscore reported ApartmentFinder was solidly in the top 5 destinations for apartment shoppers on the Internet. Our work put us solidly in the consideration set for online-only marketing in the multi-family industry, and we did it despite being heavily outspent on search engine marketing traffic by our competitors.

6F6305A2-0D67-449B-8D39-EE6ABE8485A5.jpgThe seventh most-popular post, from July, demonstrates how powerful social media can be. I described a disappointing customer service experience with American Express. A couple of days later, I heard from the Chairman’s Office. It doesn’t match Jarvis’ Dell experience, but it was an instructive moment in the new age of marketing and media.

74FA0199-B357-485C-BBCC-C88B26F82FF5.jpg A May post reporting on research that shows how effective print advertising is in driving web traffic came in at number 8. Despite multiple instances of independent research like this, many people insist of maintaing a very simplistic “Print Is Dead” position. At this point, I just shake my head and wonder why the concept of using multiple platforms to intersect with consumers to drive business activity is so hard to accept. [I very accepting of marketers who say they don't have the money to invest in premium marketing choices, whether they are online or offline. Then we can have a conversation about how to leverage their marketing resources to build their business. Just sitting around arguing about living or dead media gets old very fast.]

FA81662B-4DF7-4357-BE73-E23158214345.jpgAn October post made the top 10 and is a big search favorite: The Current State of the Economy in 5 Pictures. I realized doing this analysis that I should update the post in January to reflect the fourth quarter results. Lesson: People like pictures.

FC3C5C84-9494-43B5-8C37-27D1C9CDC45C.jpgThe number 10 position is taken by a post where I ranged outside of my limited sphere of knowledge to speculate about how social media platforms would change the way that people searched for information. The premise was that “human search” would develop through the filtering of content by overlapping social graphs. This is happening on Twitter and is expressed by many as crowd-sourcing. I had fun thinking about the problem and putting together the schematics. The post attracted a broad readership and started many conversations. I’m sure that those followers soon dropped off as I returned to my more mundane noodling about business models, business processing and marketing approaches.

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Winning at search

October 30, 2009

American Express has been running a series of interesting articles on its OpenForum site about how small and medium-sized businesses can leverage social media to their advantage.
A primary theme is that targeted, local businesses can use social media to significantly improve their visibility on search engines. One expert, Jason Falls, points to the [...]

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