Some Public Relations news tidbits from this week:
Ketchum Chairman, Ray Kotcher Inducted into International Communications Consultancy Organization Hall of Fame
The International Communications Consultancy Organization inducted Ray Kotcher, a senior partner and chairman of Ketchum into their Hall of Fame. According to the organization, Ray has made “exceptional progress in the internationalization of the public relations industry whilst demonstrating the cultural sensitivity and commercial acumen to create an agency that shares global reach with local relevance.” In response to receiving this award, Kotcher said “[b]eing named to ICCO’s Hall of Fame is deeply meaningful to me. I have been so lucky - I’ve worked for more than 30 years in a business that I love, doing work that I love, meeting extraordinary people and travelling the world. And if I’ve learned one thing, it’s that our guiding principle must be practicing to the highest professional standards. We’re business that’s built on trust, and that’s the key to sustaining success for our industry, not only for today but in the years to come.” He is also a former trustee of the Institute of Public Relations, and was the chair of the PR Council twice. Now he is on both the executive committee and Arthur W. Page Society’s board of trustees. Kotcher earned a Bachelor of Arts in English from the State University of New York at Geneseo, where he is now a trustee of the Geneseo Foundation board. He also holds a Master of Science degree in public relations, which he earned from Boston University’s College of Communication, where he gave the commencement address.
Puerto Rico Has One Million Dollars For PR.. but Not For Creditors
Recently the Puerto Rico Electric Power Authority announced the beginnings of a review of a one million dollar contract for PR work in order to adjust such ventures to comply with commonwealth regulations and legal standards, according to Bloomberg. The Authority is currently asking creditors to consent to losses on bond payments. Prepa, the island’s primary electric power provider, is to review the terms with Joele Frank Associates LLC in the next week. Creditors are in dialogue with the authority in order to remake $8.2 billion of debt, which may reduce its costs enough for much needed plant upgrades. If the talks carry through to their ends, roughly thirty-five percent of bondholders and creditors are expected to suffer losses of up to fifteen percent on their securities’ face value.
