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On the Positive Side

A crisis is not always a “bad news” situation. Often it can carry—at least for one side—a lot of good news. Here’s a hypothetical, but based on a real life situation.

The Midas Bank Story

Midas Bank, a multi-billion-dollar, publicly held institution based in the Midwest, was among several organizations vying to acquire Struggling Savings & Loan, a privately held, California-based bank. Although Struggling’s balance sheet was a little lopsided, it had an 80-branch operation, all in California, with excellent customer and community relations. Midas, which already had 20 branches in California and hundreds elsewhere, was informed by Struggling’s board that they were the first choice to acquire Struggling—and the powers-that-be had decided the deal would go through in two weeks. Only then were both in-house and external public relations personnel notified of the pending merger. It was agreed that Midas would take the lead in cr....


  

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