Photo by iStock

Even as fallout from the mortgage market meltdown still reverberates throughout the economy, ominous rumblings suggest that a similar bust in the student loan market could be the next big financial crisis.

According to a just-out report by the National Association of Consumer Bankrtupcy Attorneys, for example, 80 percent of respondents report a surge in prospective filers with student loan debt – including not only the students or former students but parents who co-signed loans, as well.  The release claims that loans to parents of college-age children have jumped a mind-boggling 75 percent since 2005-2006, and that delinquincies are common.  (Student loan debt is generally not dischargeable in bankruptcy so attorneys in that field have something of a vested interest in demonizing it – but I have no reason to doubt the findings as presented.)

The headlines beat on.  “The Student Loan is Crippling American Families,” reports Forbes, and a brand new Federal Reserve report shows that school loans helped fuel a $16.6 billion jump in non-revolving consumer debt in December, BusinessWeek reports.   And last month the credit-scoring firm FICO reported that many bank risk managers it has surveyd expected defauls on student loans to rise.  Debtors in the U.S. currently owe three-quarters of a trillion dollars in educational loans!

And if that isn’t burden enough, a lower interest rate set by Congress in 2007 may expire this July 1, effectively doubling the rate on Stafford loans for millions of borrowers, the Huffington Post reports.

Add in state budget woes, controversy over tuition inflation, the election cycle and it’s a complex – and at the moment, politicized – topic.  But against the backdrop of these sorts of headlines, the fact that many families probably getting under way with the application process and the dreaded FAFSA financial aid form-filling,  along with  various White House proposals related to college funding afoot (here’s a Dept. of Education summary), along with other developments in the market, you might want to plan a run at the topic soon.

Digging inside the market

A mutli-faceted approach to a student loan package might include the issues that face indebted borrowers now in the jobs market, as well as dilemmas being tackled by prospective and current students – and their parents – about borrowing resources and decisions.  What degrees are worth the debt and which programs, in hindsight, fail to pay for themselves?  What advice do current debtors have for upcoming students and prospective borrowers?  Go through CPAs, certified financial planners and other independent financial advisors; they may be able to hook you up with clients who will open their books and allow you to illustrate a story with detailed cash-flow information that can show how school loans affect a family’s finances and choices years after graduation.

Don’t forget stories about alternatives to borrowing – like working a few years ahead of college to save up, choosing AP or community college course to save on university tuition and choosing careers or jobs paths that afford student loan forgiveness.  Here’s a story from Californiaabout a proposal that student ride free in school but promise to pay a percentage of their income for decades after graduation.

Student loan stories generally should include clip-and-save (or click-and-save) sidebars and resources lists for readers;  FinAid.org is a good place to start.

Calculating the real cost of attendance

Just to play devil’s advocate: Student budgets and lifstyles are seldom mentioned in stories that bewail educational loan debt.  The notion that tuition inflation and books are solely responsible for burdensome student loan debt – rather than factors within a student’s control – is pervasive and makes for one-sided coverage of the issue.  I would suggest — through first-hand experience watching the changing retail and lifestyle scene at my own alma mater –  that travel, car ownership and general lifestyle expectations of the student population have burgeoned right along with the cost of credit hours …  and that some of that loan debt can be attributed to spring break trips, SUVs and salon shampoos.

Check out the “cost of attendance” pages at schools near you, or schools many regional students tend to flock to.  Just as an example I checked out the COA page at the University of Wisconsin (Madison) — where room and board costs seem to be predicated on a $1,000 a month average, along with another $100 a week in ‘miscellaneous’ expenses.   I’m a midlde-aged homeowner in a moderately high cost-of-living area and I spend less than $1,000 a month on shelter and food, and I sure wouldn’t be spending $100 a week on ‘misc’ if it took borrowed money to do so.  All told the room, board and incidentals at UW and many other schools with similar advisories on their sites total more than $50,000 over the course of acquiring a four-year degree.

I’m not saying students should live in a tent on boxed macaroni & cheese and water for four years, but there’s ample
precedent for living modestly and getting out of school with the minimum of debt.  Stories taking a detailed look at the budget of some local college students – and I mean really looking at their daily receipts and credit card statements — could be quite enlightening and really round out coverage of the ticking student debt bomb.

A screenshot from the Milwaukee Journal Sentinel series "A Case of Shattered Trust."

A story by Raquel Rutledge and Rick Barrett that won the Barlett & Steele Silver Award for 2011 has been selected to be part of the “Best Business Writing 2012,” a book to be published in June by Columbia University Press.

Rutledge and Barrett, reporters at the Milwaukee Journal Sentinel, received the silver award in the 2011 Barlett & Steele Awards for Investigative Business Journalism for their series “A Case of Shattered Trust.”

Details in their own words about of their investigation into one of the nation’s largest manufacturers of alcohol wipes describing filthy conditions at the plant nearby are in this behind-the-story account.

Dean Starkman, editor of the Columbia Journalism Review’s The Audit and one of four editors for the Best in Business book, said this about the collection of business writing:

“The Best Business Writing 2012,” is as the name implies, the first of what we’re hoping to be an annual series that collects, well, the best. We want these books to highlight great journalism about business (and finance and
the economy) in all its diversity: from muckraking exposes (like this one) to classic corporate profiles, economics writing, business columns, blog posts, whatever. The publication or medium really doesn’t matter.

We’re now at work collecting — and soliciting — candidates for “BBW2013″. If you-all do, or see, anything we should know about, send me a note.”

Starkman’s co-editors in “The Best Business Writing 2012″ are Martha Hamilton, Ryan Chittum and Felix Salmon.

By Flickr user Kjunstorm

Now that one major TV-watching spectacle is over for 2012 –  the Super Bowl – there’s only a week left until armchair experts will settle in front of the tube to call out critiques and accolades as they root for their favorite contenders in the Westminster Kennel Club’s annual dog show at New York’s Madison Square Garden.

About 3.5 million viewers, according to this Media Life article, will tune in to the USA Network Monday night to root for their favorite Yorkie, Dandy Dinmont, Portuguese water dog or plain old beagle in the event which the WKC says in this fact sheet has been held since 1877.  (note the TV schedule on the WKC site, some segments will be aired on CNBC). The show usually permeates pop culture for a day or so, with winners appearing on morning shows and wire services covering the highs and the lows, like when one of last year’s awardees bolted her cage and went running down an airport runway, never to be seen again.

Why not tag along and give readers a look at business angles from your local pet breeding and show scene?  It’s a relatable topic and one that is made for cute centerpiece art and fun multimedia elements.

Dog breeding is a touchy topic at the best of times, and it may be tough to write about the industry without addressing the controversy.  But you certainly can show legitimate breeders’ business model — what costs go into producing a healthy litter, from medical care to food and shelter to advertising?   What sort of profit margins exist and how does area competition affect the price of ‘hot’ breeds.  What happens to imperfect dogs that don’t fetch top dollar or can’t meet the specs to get official papers?

If breeding is regulated in your state – only 35 do so – you can get the statute at this interactive map provided by Michigan State University’s law school; reading the laws — which in some cases also pertain to pet stores, pounds and kennels, other business angles — will provide a number of story ideas and question fodder for your breeder interviews.  The Michigan State animal law portal also offers a search feature; you can look up cases by state involving pet breeding and puppy mills among other issues.

And it’s worth noting, though not strictly a business angle, that according to the law site, several states are considering animal abuser registries similar to exisitng sex offender registries, to track those convicted of cruelty.  That’s a tip for your metro or state reporter; be worth talking with local legislators and animal welfare societies about the chances of such a law in your district.

A companion piece to the business-of-breeding article would be personal finance caveats for prospective buyers — how to shop for a desired breed, what to look out for, what to expect in terms of annual care and feeding costs, options for pet care while on vacation and the pros and cons of pet insurance.

Or you could focus more closely on the dog show industry.  Again, the personal finance angle has a lot of possibilities; this Yahoo! Contributor Network posts offers a good rundown on the cost of campaigning an animal; you could do a more colorful and local version by talking with various dog owners, handlers and show officials.  Find area participants through local kennel clubs; here’s a nationwide directory of some 500 affiliates.

Don’t forget about the careers angle; according to Modern Dog, top handlers can earn six-figure annual incomes trotting Rex and Rhoda around the ring.   And of course, equipment suppliers, show promotors, advertising sponsors and other related businesses all are fair game for interesting nuggets of business news.

Finally, what effect does the dog show circuit have on area expo centers, hotels and other venues?  I was shocked last year when the manager of one of Michigan’s largest convention venues told me that a dog show was his bread-and-butter event.  Who knew?  And he said trade from dog show participants and spectators was also an important source of revenue for the area’s motel operators and restaurants.

The Particulars

Instructor: Diana B. Henriques,
longtime financial writer
for The New York Times and
author of the best-seller,
“The Wizard of Lies: Bernie Madoff
and the Death of Trust”

Location: Online

When: Noon and 4 p.m. ET
Aug. 13

Register for this free,
hourlong Webinar.

Photo by flickr user ElvertBarnes

All that reporting, all those documents, all those late nights. But you finally got that story!

Now, how do you get people to read it? In today’s congested media marketplace, storytelling is more important than ever – but too often, it is the neglected element in business journalism.

Ask too many business reporters about storytelling, and they’ll say, “Oh, yeah – I have an anecdotal lede.” In fact, great stories are built from the ground up, beginning with reporting techniques that empower you when it’s time to write and moving on to eye-opening tools borrowed from the worlds of screenwriting and suspense fiction.

In this Webinar, you will learn these techniques to tell great stories from Diana B. Henriques, longtime financial writer for The New York Times and the author of the best-seller, “The Wizard of Lies: Bernie Madoff and the Death of Trust.”

Author Diana B. Henriques signs copies of "The Wizard of Lies." Photo by Michel Duarte

Sign up for this free Webinar.

WHAT YOU WILL LEARN

How to:

• Gather the telling details while chasing the story.
• Deepen your story with universal characters from folklore and myths.
• Use techniques from screenwriting and potboilers to strengthen your writing.

YOUR INSTRUCTOR

Diana B. Henriques became a contributing writer to The New York Times in December 2011, after more than two decades at the paper.

As a senior financial writer at The Times, she specialized in investigative reporting on white-collar crime, market regulation and corporate governance. She turned her coverage of Bernie Madoff’s $65 billion Ponzi scheme into a best-selling book, “The Wizard of Lies: Bernie Madoff and the Death of Trust.”

She was part of a reporting team that was named a Pulitzer finalist in 2003 for its coverage of the aftermath of the Enron scandals. She was also a member of a team that won a 1999 Gerald Loeb Award for covering the near-collapse of  the hedge fund, Long Term Capital Management.

She was a Pulitzer finalist in 2005 for exposing the exploitation of American soldiers by financial services companies. For that series, she also received the George Polk Award, Goldsmith Prize for Investigative Reporting and the Worth Bingham Prize.

FIRST-TIME ATTENDEES

Check out our Technology Help Page for connectivity requirements, helpful tips and an instructional video on how to access Reynolds Center Webinars.

ABOUT THE PROGRAM

This free Webinar is sponsored by the Donald W. Reynolds National Center for Business Journalism. If you have any questions about the Webinar or the center, please email Executive Director Linda Austin or call 602-496-9187.

The Jewish Daily Forward found that Kars4Kids spent just $6 million of its $29 million in gifts on programs, such as this Jewish summer camp.

Josh Nathan-Kazis of The Jewish Daily Forward looked into two charities, Kars4Kids and Oorah Inc., and found that less than 25 percent of the $29 million they collected in 2010 was spent on providing programs. The organizations collect donated cars for their mission to support Orthodox outreach to non-Orthodox Jews. Josh also found that Kars4Kids spent $8.3 million on advertising in 2010.

Today’s Tip: Check with your state attorney general for information on charities.

“Charities are required to register with the offices of attorneys general in states where they raise more than a certain amount of money, and they file 990s and other documents with those offices,” Josh says. Here’s a list of the attorneys general by state.

Josh Nathan-Kazis

Charity registries maintained by the state attorneys general offer more information than reporters can get from IRS tax Form 990 filings, which are available online through GuideStar, he says. (Another source for 990s online is Foundation Center.) In New York, the website of the attorney general includes 990s and independent auditor’s reports, which interpret the 990s and lay out any financial problems organizations have. IRS determination letters, which grant an organization tax-exempt status, and certificates of incorporation are also often available, he says.

If you’d like to know more about nonprofits, check out the self-guided training on Investigating Private Companies and Nonprofits that will be available next week on BusinessJournalism.org. Can’t wait? Here’s a recording from yesterday’s Webinar with Chris Roush, business journalism professor at the University of North Carolina, on finding public information on nonprofits.

Here is some information about the jobs from the news organizations who are searching for reporters.

OIL & GAS INDUSTRY REPORTER, Oklahoma

Description: The Oklahoman and NewsOK.com, a multimedia news operation in Oklahoma City, is looking for a multimedia oil and gas industry reporter to help us expand our coverage of Oklahoma’s energy industry. The applicant should have a minimum of 5 years news experience covering the energy industry, with particular emphasis on the financial, regulatory, environmental and operational areas of the oil and gas business. Please send resume to jobs@opubco.com or apply online at: Oil and Gas Reporter.

Salary Range: Commensurate with experience
Contact E-Mail: aknudsen@opubco.com
Mailing Address:
9000 N Broadway, Oklahoma City, OK 73114

INVESTIGATIVE REPORTERS, FELLOWS, Pittsburgh, Pa.

PublicSource.org is filling two immediate openings for investigative reporters. These are great jobs in a great city, says editor Sharon Walsh. PublicSource Jobs.

PublicSource is an independent news organization supported by The Pittsburgh Foundation, the Heinz Endowments, the R.K. Mellon Foundation and the John S. and James L. Knight Foundation to do in-depth reporting in the public interest.

More from Walsh about the jobs:

INVESTIGATIVE REPORTERS:

PublicSource, a non-profit news website focusing on original investigative reporting about important issues in Pittsburgh and the Western Pennsylvania region, has an immediate opening for two investigative reporters. The reporters will pursue stories of significance to the region, with a focus on holding the powerful accountable.

Successful candidates will be high-energy, passionate investigative reporters with proven skills in conceiving, reporting and writing investigative pieces that provoke change. You should also be unafraid of risk, excited about helping to build a website that is part of the future of journalism and able to juggle enterprise and investigative stories.

The ability to work well with others is a given for an enterprise that values collaboration both within the newsroom and with other media partners.

We are based in Pittsburgh, a city with a great deal more to offer than the Steelers. It is often on the top 10 lists of most livable cities, enjoys a low cost of living and has a cultural life that other cities envy.

Benefits include excellent health insurance (medical, dental and vision), life insurance and participation in our 403-B retirement program. We’re a non-profit, but offer a salary that is commensurate with your value and experience as a journalist.

Please send a resume, cover letter and writing samples to Sharon Walsh, swalsh@publicsource.org, with the job title in the subject line. Send all clips in .doc or pdf format.

FELLOWS POSITIONS:

PublicSource, a non-profit news website focusing on original investigative reporting about important issues in Pittsburgh and the Western Pennsylvania region, has an immediate opening for two investigative reporting fellows. These will be full-time jobs for recent graduates or Master’s grads who are interested in investigative reporting. They must come highly recommended and have shown that they are interested in investigative and enterprise work. They will work closely with the editor and two full-time investigative reporters that PublicSource is in the process of hiring, as well as with the experienced reporters of our media partners.

These will be rotating, two-year positions and will pay $35,500 a year and will include health benefits and two weeks of vacation. Interested candidates should send a cover letter, resume clips and three references with contact information to Sharon Walsh, swalsh@publicsource.org, with the title Fellows position in the subject line. Clips must be in .doc or pdf formats.

The Barlett & Steele Awards for Investigative Business Journalism have been awarded by the Donald W. Reynolds National Center for Business Journalism since 2007. They recognize the best in print and online investigative business journalism and are named after two-time Pulitzer Prize winners Don Barlett and Jim Steele.

Here are all of the previous winners:

2011

Gold: The Arizona Republic for “Public Pensions, A Soaring Burden” by Craig Harris. The series focused on questionable public-pension practices and their cost to taxpayers. The project, which involved 67 public-records requests, uncovered elected officials making more in retirement than when they were employed and pensions paid to convicted felons removed from office for official wrongdoing.

The winners of the 2011 Barlett & Steele Awards: (from left) Craig Harris, Michael J. Berens, Jim Steele, Raquel Rutledge and Rick Barrett.

Silver: Milwaukee Journal Sentinel for “A Case of Shattered Trust” by Raquel Rutledge and Rick Barrett. The series revealed how a firm with a decade of serious regulatory violations of sanitary conditions was allowed to operate while the Food and Drug Administration did nothing. As a result of the stories, the FDA revealed the name of the bacterium that it found in the manufacturer’s contaminated alcohol wipes. Following a permanent federal injunction against the firm, the product is no longer manufactured.

Bronze: The Seattle Times for “Seniors for Sale” by Michael J. Berens. The series investigated the growing trend toward seniors being moved from nursing homes into less expensive “adult family homes.” The investigation uncovered more than 230 deaths that indicated neglect or abuse in these homes but were not reported to the state. (The bronze award was added in 2011.)

More on the 2011 winning articles.

Barlett & Steele Awards for Investigative Business Journalism: 2011 Winners from Reynolds Center on Vimeo.

2010

Gold: Reuters for “Diagnosed with Breast Cancer, Dropped by Insurer” by Murray Waas, whose four-month investigation revealed that a giant health insurer had targeted policyholders recently diagnosed with breast cancer for aggressive investigations with the intent to cancel their policies. An exhaustive study of records, hearings and federal data, as well as dozens of interviews with experts, officials and patients led to the story.

Silver: Milwaukee Journal Sentinel for “Side Effects: Money, Medicine and Patients” by John Fauber, whose stories uncovered conflicts of interest that can compromise a doctor’s judgment. An example was a surgeon receiving millions of dollars in royalties annually from a medical device company while serving as editor of a medical journal that published favorable research on the company’s projects.

More on the 2010 winning articles.

2010 Barlett & Steele Awards for Investigative Business Reporting from Reynolds Center on Vimeo.

From left: Don Barlett, Rob Barry, Matthew Haggman, Jim Steele and Andrew Leckey

2009

Gold: The Miami Herald for “Borrowers Betrayed” by Jack Dolan, Matthew Haggman and Rob Barry, whose nine-month investigation and resulting series uncovered poor oversight by Florida mortgage regulators that permitted thousands of individuals with criminal records to conduct business in the state’s home loan industry.

Silver: Bloomberg Markets for “AARP’s Stealth Fees” by Gary Cohn and Darrell Preston, who found through public documents and scores of interviews, that the world’s largest organization for seniors collects hundreds of millions of dollars annually from insurers who pay for AARP’s endorsement of their policies.

More on the 2009 winning articles.

2008

Gold: BusinessWeek for “Prisoners of Debt” by Robert Berner, Keith Epstein, Brian Grow and Geri Smith, who revealed how large financial firms regularly collaborate with doctors and hospitals to turn unpaid medical bills into high-interest consumer debt.

Silver: The Seattle Times for “The Favor Factory” by Hal Bernton and David Heath, who uncovered thousands of purchases that the U.S. Congress has forced the military to make in recent years, including a $4.5 million Navy vessel that sits unused by a Seattle pier.

More on the 2008 winning articles.

2007 Gold Award recipient Walt Bogdanich

2007

Gold: The New York Times for “A Toxic Pipeline” by Walt Bogdanich and Jake Hooker, who documented China’s role in supplying a counterfeit drug ingredient that killed at least 100 people in Panama and is suspected of killing thousands of others around the world.

Silver: The Baltimore Sun for “On Shaky Ground” by Fred Schulte and June Arney, who tracked how Baltimore’s arcane system of property fees initiated in Colonial times had evolved into a system of greed and lax oversight that preyed on the poor and elderly.

More on the 2007 winning articles.

Learn more on how to apply for the annual Barlett & Steele Awards for Investigative Business Journalism.

The Barlett & Steele Awards for Investigative Business Journalism are named for two-time Pulitzer Prize winners Don Barlett (left) and Jim Steele.

The Donald W. Reynolds National Center for Business Journalism celebrates the best in print and online investigative business journalism each year with the Barlett & Steele Awards for Investigative Business Journalism.

Named for two-time Pulitzer Prize-winning journalists Don Barlett and Jim Steele, the awards were first given in 2007 and have featured a gold award of $5,000 and a silver prize of $2,000. Due to the growing number of exceptional submissions each year, a bronze award of $1,000 was added in 2011.

Entries for the 2012 award must have appeared in the year ending June 30, 2012. Each media outlet may submit no more than two entries. Submission deadline is Aug. 1, 2012, at 11:59 p.m. PT.

The Barlett and Steele Awards for Investigative Business Journalism from Reynolds Center on Vimeo.

QUALITIES OF WINNING ENTRIES

“Don and I have an informal motto: ‘Tell the reader something they don’t know,’” said Steele. “It sounds simple. Yet a lot of journalism is a rehash of what people already know.”

Judges will be looking for investigative enterprise, strong business theme, elegant writing style, clarity and impact.

The awards are conferred in January during Reynolds Business Journalism Week at Arizona State University’s Walter Cronkite School of Journalism and Mass Communication in Phoenix.

Read more about previous winners.

Barlett & Steele Awards for Investigative Business Journalism: 2011 Winners from Reynolds Center on Vimeo.

HOW TO APPLY BY AUG. 1, 2012

Applications will be accepted only online and from editors or the contest coordinator designated by your news organization. Applicants will need to provide the following on the Barlett & Steele Contest Entry Form (coming soon).

• Contact information for the editor submitting the entry.
• An editor’s letter outlining any (a) obstacles in reporting, (b) reforms or impact after publication and (c) corrections or challenges to accuracy. It can be submitted as a Word document (.doc) or an Adobe Acrobat PDF (.pdf) file.
• Up to four articles, submitted as either an active URL or as a Word document (.doc) or Adobe Acrobat PDF (.pdf). A sidebar counts as an article.

Applicants do not have to file all elements in one sitting, but all elements must be uploaded before the application is submitted for consideration. The deadline for submission is 11:59 p.m. PT on Aug. 1, 2012.

Questions? Email Andrew Leckey, Reynolds Center president, or call 602-496-9186.

Susie An

Susie An of Chicago’s WBEZ public radio station found some people who couldn’t pay their bills were landing in jail despite laws that prohibit debtors’ prisons.

She starts the segment with the story of Robin Sanders, an Illinois woman who owed $730 on a medical bill. She was pulled over for a loud muffler, but arrested because of a warrant for failing to appear in court. She said she didn’t know the collection agency had sued her, but she still spent four days in jail waiting for her father to post $500 for her bail.

The big issue Susie found with her reporting was debtors and even some judges didn’t know how to handle the issues. I asked her how – in a field strewn with uncertainty – she found her way through the story.

Today’s Tip: Listen to the people who’ve been affected to form the story and determine where to begin your research, Susie says.

The Star Tribune in Minneapolis wrote about debtors in jail in 2010.

Starting with the debtors led her to legal aid lawyers who specialize in these cases to get the “legal nuts and bolts,” she says.

The legal aid lawyers led her to creditors’ attorneys, who acknowledged many debtors don’t know their rights.

“With the creditor I spoke with, he explained that most creditors try to reach out to debtors to explain the situation and help them out,” she says. “But not all creditors are so valiant.”

For the big picture, Susie spoke with the Illinois Attorney General who provided the overview to put her piece into perspective.

In 2010, The Star Tribune in Minneapolis also did a piece about people being jailed for unpaid debts. As Bernie Kohn notes in his post on the story, reporters Chris Serres and Glenn Howatt searched for the keyword, “warrant,” when looking at debt-collection lawsuits.

A National Post headline focused on the words of an Italian Coast Guard chief.

By some web accounts, that command translates roughly to “Get back on board, damn it!” and the man who issued it, Coast Guard officer Gregorio De Falco, appears fast on his way to becoming the Tuscan equivalent of Capt. Chesley “Sully” Sullenberger, the U.S. Airways pilot who made several searches of his airship and was the last to leave the plane he had to ditch in New York’s Hudson River. 

Like Sullenberger, and in contrast to Schettino who’s being vilified for leaving his ship ahead of passengers, De Falco is being hailed as a no-nonsense, straight-talking hero and champion of maritime ethics.  Someone created a Facebook page that pays homage to him — my rudimentary Italian translates some comments as “you’re a real man,”  “I’d like to virtually shake your hand” and “You showed great professionalism.”  (There’s another Facebook page for Vada a bordo, cazzo! ) As with Sullenberger, I forsee speaking engagements, consulting work and maybe a book contract in this man’s future.

None of which would have much to do with financial journalism except that this story clearly is going to play out as one with terrific potential for marketing, public relations, damage control and disaster preparedness stories.  Some, like the merchandise angles, are interesting and head-turning in and of themselves — others you can localize by finding ties to experts in your community or parallels to companies and individuals that have weathered man-made disasters of their own.  

Maybe your’e in the Gulf Coast region, for example, and it’s time to take another look at the environmental, economic and image rehabilitation efforts by BP and other entities involved in the oil spill crisis.  Maybe your area is home to an amusement park or factory or transportation firm involved in accidents or malfunctions.  Or a product problem, like recent years’ meat recalls, or even marketing gaffes like Netflix’s shortlived Qwikster foray.

Social media and camera phones.  One aspect of the Costa Concordia disaster highlights new problems for companies attempting damage control: The pervasive and swift power wielded by patrons and onlookers with social media tools.  According to some reports, a Facebook posting by the relative of a crew member was one clue that the deviation from the cruise ship’s planned route may have been a deliberate ‘drive-by greeting’ attempt by the vessel’s captain.  We’ve all seen the camera phone photos and videos of the sinking under way; this sort of unfettered and uncontrollable public ‘speech’ by both onlookers and participants is really pretty new to the corporate damage control scene.  You might want to talk with local experts and consultants about how companies are changing strategies based on their inability to control images and messages as much as in past eras.

Here’s a piece from Ragan’s PR Daily noting a study that says most companies are not prepared for a social media crisis; reading it will help you formulate questions for consultants and corporate social media gurus in your region.

The Titanic.  I’d hoped to hold off on Titanic anniversary blog posts for a while longer, but it wasn’t meant to be.  As this Associated Press article points out, we’re not too shy of the 100th anniversary (April 12) of the ill-fated ocean liner’s sinking.  From a business standpoint, you might want to check eBay, Etsy, Zazzle and other online grass-roots retailers (many let you search by ZIP code for local merchants) to find people attempting to cash in on the anniversary.

Technology.   As has been pointed out, the Costa Concordia, like other cruise ships, operates on a sort of autopilot that steers it through a programmed course.  That comes as a surprise to many people; can you find local examples — like robots in a warehouse, or amusement park rides, or cargo trains or other conveyances that rely on innovative technology to steer, drive, park or even land themselves?   It’s rather a tenuous tie but the technology is apt to intrigue people who are drawn in by the story of a doomed state-of-the-art mechanical wonder like the Concordia.

Tourism.  Are would-be cruisers canceling or changing plans in favor of land-based and domestic vacations?   It can’t hurt to check with area tour operators, lodging and hospitality companies about any uptick in inquiries or reservations.  Same goes for travel insurance firms — will they get a boost from vacationers with visions of their jewelry, bankroll and belongings consumed by unexpected disaster?

Opportunism and opportunities.   There’s nothing wrong with earning an honest sale or profit, and the sinking of the Concordia doubtless will create an economic boost for contractors ranging from the Dutch fuel salvagers to ship-breakers who will dismantle the carcass.

Not to be outdone by overseas competitors, one CafePress purveyor already is selling ‘Vada a bordo!’ mugs, bumper stickers and  T-shirts; I predict more to follow.  Books and speaking engagements for survivors, disaster preparedness seminars, you name it — keep an eye out for entrepreneurs looking to grab their piece of the action from an unexpected, chillingly picturesque and larger-than-life manmade fiasco.