News and data giant Bloomberg LP deserves high marks for a thorough and candid report on its data security and editorial practices – and for the way it was communicated.
Caught in a firestorm over revelations that Bloomberg reporters had access to client data, the company launched an independent review led by heavyweights Lou Palmisano, former chief of IBM, and Clark Hoyt, who recently served as the New York Times Public Editor.
The review was sparked by revelations that Bloomberg’s journalists had access to customer data and used it to pursue stories and check sources. The practice was widely known and tolerated at senior levels within the company.
The reports make for fascinating reading. It’s clear that the company conducted a wide-ranging review led by tough-minded, independent advisors. The exercise, in the words of Dean Starkman of the Columbia Journalism Review, confirmed Bloomberg’s status as “the most tightly-wound news operation on the face of the earth.” Quite so. But it is a great example of an effective response to a crisis.
The company presented the report via a lengthy blog post from CEO Dan Doctoroff and an accompanying video and press release. High marks again. Both offer a solid narrative about what led to the problems and what was done. They are great examples of communications that convey leadership, clarity and accountability.
What’s also remarkable about Doctoroff’s post is its careful avoidance of the word “change.” His note uses plenty of other verbs to describe the company’s actions – “reassess,” “revisit,” “reconsider,” and “reexamine” all get regular use. “Change” is never mentioned. Nor for that matter, does Doctoroff apologize or express regret for the company’s conduct. But to be fair, he and Bloomberg News Editor-in-Chief Matthew Winkler said all that once the crisis erupted. There was no need to do so again. The report does an excellent job of focusing on the future instead of the past.
Bloomberg will surely change as it adopts the many recommendations in the report. It’s odd not to see the word used. Is it hubris? Or a cautious legal position? Perhaps. But it doesn’t diminish the strength of the report. Bloomberg has successfully weathered the most serious crisis it has faced.