It’s happened again. A large, iconic business has applied for or is about to receive government loans that were meant to sustain small businesses during the pandemic. This time it was the LA Lakers basketball team (valuation of $4.4 billion), which, like several other high-profile brands, has said it will return the money.
 
The question for communicators is whether or not these brands will take a long-term reputation and/or financial hit for their actions.
 
This is one of the questions we’d like you to weigh in on as part of PRNEWS’ 5-question poll. We’ll report the results here and on our social channels Thursday. Thank you for participating. Stay safe.

Question Title

* 1. Will large, prosperous brands suffer extensive reputation damage as a result of accepting PPP funds, the federal government’s small business loans program? Or, will the federal government and Congress take the biggest hit in terms of reputation?

Question Title

* 2. What will be the fate of large brands, such as the LA Lakers, Potbelly, Ruth’s Chris Steakhouse and Shake Shack, that have pledged to give back their PPP loans? Will the public forgive these brands and patronize them as usual once the pandemic ends?

Question Title

* 3.  Will brands and organizations that have been philanthropic during the coronavirus see quantifiable financial and reputation gains once the economy becomes more robust?

Question Title

* 4. Over-communication has become a familiar refrain among internal communicators during the coronavirus. With the country months into the pandemic and some states beginning to ease lockdown restrictions, is it time to reduce the rate of internal communications?

Question Title

* 5. Has your company had to lay off, furlough, terminate or reduce salaries of communicators or marketers during the past two months?

Question Title

* 6. What is your level of PR/marketing experience?

T