What you will learn...
FleishmanHillard Repping Dallas Police and Fire Pension System
Both the public in Dallas and the bond market are watching Dallas’ Police and Fire Pension System as they try to sail out of troubled waters. Coming to their assistance, at least from the PR perspective, not the financial one, is FleishmanHillard. Just in time too, since the organization does not have a PR employee. With over $3 billion of unfunded liabilities, the pension system is under intense scrutiny. If they don’t receive help from either the state or city, they could run out of funds within 10 years. Unfortunately for the city, they are obligated by law, but the amount underfunded could end up bankrupting the city as well as the DPFP.
Ruder Finn Brings David Brooks in as SVP of Digital and Social Health
David Brooks is leaving his SVP job with Ogilvy PR to join Ruder Finn’s U.S. healthcare division. He was with Ogilvy since 2011 and at Burson-Marsteller for four plus years prior to his time at Ogilvy. He’s also served at the Guild Group as VP for the marketing agency, as well as at Sanctuary Woods as their marketing and educational sales director. Brooks’ job at RF will have him overseeing the development of healthcare-related, social and content, and digital strategies to increase their biotech and life sciences capabilities. He’ll be working out of the New York headquarters.
DBAY Advisors Buys Remaining Shares in Creston Making It a Privately Owned Entity
On December 16th the shareholders of Creston approved the sale of the company for £75.8 million, which was then delisted from London’s Stock Exchange this week. Before DBAY Advisors’ purchase these shares they already had a 29% ownership of Creston Unlimited, the holding PR company that includes other PR firms such as Nelson Unlimited, Red Door Unlimited, and Fever Unlimited. With the change, the holding company will now be known as Creston, and Creston Unlimited becomes Unlimited Group. The change means that Bell Pottinger won’t provide financial PR services for Creston any longer.
Res Publica Group Facing Lawsuit from EVP Leslie Fox
One of Chicago’s top public affairs agencies is facing some ugly courtroom moments in the near future with Leslie Fox’s Cook County Circuit Court filing in December. Fox has been serving as EVP and general manager at Res Publica but plans to terminate her employment at the end of the year. She claims that she has neither received her promised bonuses, but also that the CEO Guy Chipparoni has “substantially diminished” her duties.
Fox’s suit claims that Chipparoni “consistently has disregarded the separate legal entity of Res Publica and at all times relevant he has acted as if Res Publica and Chipparoni are alter egos.” At the moment neither party is providing comments. The suit, however, claims that her power to manage the day-to-day functions of the firm such as hiring, firing, assigning work, and more were diminished significantly almost as soon as she was hired two years before.
5WPR Moving Into New Office Space in Manhattan
Ronn Torossian, CEO and President of 5WPR happily announced that they will be moving from their current location. The shift takes from from the Avenue of the Americas to The Helmsley Building above Grand Central Terminal in Manhattan on Park Avenue. They are taking over two floors – 31 and 32 of the 1929 building and adding more than 4,000 square feet to their overall office size. The official address is 230 Park Avenue, 32nd Floor, New York, NY 10169.