In The New York Times article “In Case of Emergency: What Not to Do”, Peter S. Goodman offers a commentary on the mishandled actions of companies in crisis. The article focuses on three main examples: BP, Toyota and Goldman Sach. Each of these companies faced large, public disasters and did their best to minimize the realities of the situation. Goodman (2010) goes on to explain that a company in this situation ought to “disclose it immediately- awful parts included- lest you be forced to backtrack and slide into the death spiral of lost credibility” (p. 1). In other words, a company that owns up to its mistakes, works to fix them and is honest with the public up front is much more likely to bounce back and maintain the public’s trust. Goodman does not hide that fact that he is quite passionate about and aggravated by this topic. Goodman (2013) even goes as far as to say, “Children stuck on a scary roller coasters sometimes close their eyes and wait for the ride to end. So, apparently, do grown-ups heading giant corporations in crisis” (p. 9). This article is rooted in deep economic analysis, a field in which Goodman shines.
Peter S. Goodman was born in New York City and graduated from Reed college in 1989. He has worked for several news outlets including The Washington Post (as an International Economics Correspondent), The New York Times (as a key correspondent during the events of the 2008 economic recession) and currently The Huffington Post (as the Executive Business Editor). It is clear that he has a strong background in business and economic analysis, working for some of the most well known news outlets in the world. Goodman has received many awards and credentials throughout his career in journalism. Some of these include the 2005 Hugo Shong Award and a citation in the Overseas Press Club. Both awards were direct results of his foreign coverage in Asia during his time with The Washington Post.
Many different aspects of Goodman’s expertise may have influenced this article, including his novel, PAST DUE: The End of Easy Money and the Renewal of the American Economy, published in 2009. In a New York Times Book Review, Barrett (2009) describes the book’s major theme by saying, “The fairy dust of easy money — heedless borrowing by homeowners and investment bankers alike — has lost its magic, and now we have returned to harsh reality” (p. 1). This concept is very similar to the one explored in “In Case of Emergency”. Both consider the idea of “kicking the can down the road”, so to speak, in an effort to minimize the impeding crisis of today only to experience its brutal realities tomorrow. The close proximity of the novel and article’s publications suggest that Goodman’s research and analysis in “Past Due” may have heavily influenced and motivated his article “In Case of Emergency”. The effects of the economic recession were still prevalent as well, creating an audience interested in things such as corporate transparency and financial crisis. Not only did Goodman spend over a decade researching the origins of the economic recession, but “Past Due” received numerous awards including one of Bloomberg’s Top 50 Business Books. It is clear that Goodman’s ideas are incredibly credible and applicable to not only this article, but all of his works worldwide.
Barrett, Paul (2009). The Years of Magical Thinking. The NY Times. Retrieved October, 8th, 2009 from http://www.nytimes.com/2009/10/11/books/review /Barrett-t.html?_r=0
Goodman, Peter S (2010). In Case of Emercency: What Not to Do. The New York Times, 1-10.
Peter S. Goodman (n.d.) Peter S Goodman. Retrieved from http://www.petersgoodman.com/PSG/About.html