Press Release: Pride Enterprises CFO Resigns November 23, 2013 – Pride Enterprises, Inc. (Prison Rehabilitative Industries and Diversified Enterprises, Inc.) a company that is “nationally recognized in inmate training operating general manufacturing and services facilities throughout the state of Florida” (Pride Enterprises, Inc., 2013).
Today Pride is announcing the resignation for Bob Thompson, chief financial Officer effective immediately. Susan Sanchez, Finance Director will temporarily assume the duties of the chief financial officer for Pride Enterprises until a new chief financial officer has been appointed. At this time the U.S. Securities and Exchange Commission (SEC) is investigating Pride Enterprises more will follow with the findings of the investigation.
About Pride Enterprises, Inc. “Prison Rehabilitative Industries and Diversified Enterprises, Inc. doing business as Pride Enterprises, is a nationally recognized inmate training company operating Agriculture, Sewn Products, Graphics, Manufacturing, and Services facilities throughout the state of Florida. Pride Operates 41 training centers providing work and training to inmates in 29 state correctional facilities” (Pride Enterprises, Inc., 2013).
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Each story revolves around the main female characters, Bridget Jones and Elizabeth Bennet. In pride prejudice, the financial status of the women was more of an issue when it came to finding an ideal partner, than it was in Bridget Jones' Diary. The Bennets were not very financially secure, so Mrs Bennet would arrange or attend parties with her girls that had lots of rich men simultaneously ...
General Information on Pride Enterprises can be obtained at the company’s website: http://www.pride-enterprises.org/. Contact:
Rose Rudder, Investor Relations 813-324-8700 Memorandum To: Manager From:Christina Thurman Date:12/1/13 Re:PR Communication Due to the current situation with the resignation of Bob Thompson we must understand that under corporate social responsibility Pride is “responsible for the behavior of its members and may be held accountable for their misdeeds” (Seitel, 2011).
We must do the following to abide by the laws: 1. Release to the public the resignation of Bob Thompson and the investigation from the U.S. Securities and Exchange Commission – under SEC Rule 10b-5 “the SEC prohibits the dissemination of false or misleading information to investors” (Seitel, 2011).
2. We must provide all documents that the SEC is requesting regarding the investigation
We need good public communication regarding the resignation and investigation. Through our Press Release we need to create a public understanding of what is going on in order to avoid a crisis installing fear that Pride has been corrupted we need to gain the trust of the public and stakeholders.
We must show the public and the shareholders that we are doing the right thing by following our ethics. “Ethics are the values that guide a person, organization, or society – concepts such as right and wrong, fairness and unfairness, honesty and dishonesty” (Seitel, 2011).
Pride Enterprises needs to do the right thing by letting the public to include the stakeholders know the situation. We do not need to hide anything or sugar coat it because it will only create a bad image of Pride Enterprises. It is now our job to assure the Stakeholders that we are doing everything we can during the investigation and that Pride Enterprises still has the integrity and honesty that they believed in when investing.
“public opinion is a powerful force that can impact the earnings of corporations through such actions as product boycotts, union strikes and the misdeeds of key executives” (Seitel, 2011).
The Term Paper on Meaning of Public Enterprises
Public enterprises consist of nationalized private sector enterprises, such as, banks, Life Insurance Corporation of India and the new enterprises set up by the government such as Hindustan Machine Tools (HMT), Gas Authority of India (GAIL), State Trading Corporation (STC) etc. CHARACTERISTICS OF PUBLIC ENTERPRISES Looking at the nature of the public enterprises their basic characteristics can be ...
Throughout the investigation and searching for a new CFO we must keep the public opinion on our side. Pride Enterprises is not only providing quality materials we are also helping the inmates train and start over upon release. If we fail to keep a good public opinion we could lose business and have to shut down industries causing us to help fewer inmates. References
Pride Enterprises, Inc.. (2013).
About Pride. Retrieved from http://http://www.pride-enterprises.org/about/about.html Seitel, F. P. (2011).
The Practice of Public Relations (11th ed.).
Pearson Education.
