Not many businesses are making more money in the present global climate, but for a few lucky professionals, this is clean-up time. Insolvency lawyers, administrators and corporate investigators, for example, are almost turning down jobs, or having to hastily recruit staff to deal with the wrecks that have been left exposed by the falling economic tide.
Add to these one other class – the communications industry. When times are tough, the spin doctors really get going, because even relatively impoverished bankers and financiers need to think about their image, with an eye to the post-recession jobs market. When your reputation is all important, you have to be sure it remains as unsullied as possible by association with the disasters taking place all around you. As the saying goes: “A good reputation is more valuable than money.”
The decision makers of Dubai obviously agree. I hear that a senior delegation of the emirate’s financial and economic elite made a trip to London last week to consult some of the biggest names in the world communications business. Their mission was to find out why Dubai seems to have been getting a rough ride in the international press, and what can be done to put it right.
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