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Steel City Re Provides Reputation Risk-Related Insight to Pharmaceutical Executive

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Kossovsky points to evidence that superior reputations create additional value. He cites the recent example of Merck CEO Ken Frazier’s reaction to the racist protests in Charlottesville, VA, over the weekend of August 12–13, 2017. Early in the morning that Monday, Frazier held a press conference and announced that he was resigning from President Trump’s Manufacturing Advisory Council. “That act raised Frazier’s profile very quickly,” says Kossovsky. “He was known within the industry before that, but not among the general public.” There was the expected surge of activity on Google, with people searching for more information on Frazier, but in terms of the market, “for about the next 10 weeks, Merck outperformed the SNP 500 pharmaceutical index, ultimately by about 3.5%, which for a company of its size translates to creating an excess of almost $6 billion in value.”

And Frazier’s move was no fluke, Kossovsky adds. “He showed that the company had a mechanism where they could take the event of that weekend, process it, and make a board-level decision by Monday morning. That’s a lot of activity for a company of that size, and a lot of risk for a company to take. It meant they had a risk management system in place that could handle it.” For Kossovsky, Frazier’s action was “an incredible example of how a CEO of a pharma company can create value by raising the expectations of stakeholders and signaling that the company is indeed an ethical one.” – Excerpt

To read the Pharmaceutical Executive article in full, visit: Accentuate the Positive: Tackling Pharma’s Reputation Problem

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AC Client RIDC Cast as Economic Development Model

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Featured recently in Area Development and Revitalization News, AC client RIDC has been cast in national news as an economic development model that’s focused on revitalizing communities left behind by large industrial companies.

What Corporate Executives Need To Know When Making Location Decisions

Partnering on Industrial Site Reuse for Private Profits With Public Benefits

Photo Credit: RIDC tenant Westmoreland County Community College

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William Valenta Profile in PG: “Handling Police Business In Between MBA Classes”

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The Associate Vice Provost for Professional Programs at the University of Pittsburgh, and the Assistant Dean for MBA & Executive Programs at the Katz School of Business, William Valenta, was profiled in a recent WorkZone column in the Pittsburgh Post-Gazette.

Handling Police Business In Between MBA Classes

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Client Guest Article in Risk & Insurance: “Reputation’s Going-Forward Effects”

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Nir Kossovsky, the CEO of AC client Steel City Re, writes a guest article for Risk & Insurance that describes the lasting going-forward effects of reputational crises, as seen with United Airlines.

“Our data, which shows that the frequency and severity of economic damages connected to reputational injury increased by 461 percent over the past five years, also suggests that the real effects of that damage may take up to 13 weeks to first become evident and another 20 weeks to set in. So, UAL’s disappointing results, months after their reputational incident, are completely in line with the after effects of other corporate reputational events.”

Reputation’s Going-Forward Effects

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