Wednesday, December 20, 2006
Remember 8-Tracks, Slides Rules and Press Releases?
Is the old fashioned press release on its last legs in this Web New World?
Not yet, but Sun Microsystems CEO Jonathan Schwartz, a corporate blogging star, calls press releases "anachronistic," especially as a vehicle for disclosing important corporate announcements,
For months now, Schwartz has been bugging the SEC to recognize Web sites and blogs as the legitimate means for disseminating important corporate information. Web sites and blogs, he says, should satisfy the SEC's tough "Regulation FD" rules for releasing data.
Schwartz made his case in a letter to SEC Chairman Christopher Cox, which is here.
Cox has responded with a positive letter that seems to agree with Schwartz without proclaiming web sites and blogs as sufficient vehicles to satisfy regulation FD. See the letter here.