When is bad news not materially bad?

When most PR practitioners think of a successful PR case study in crisis communications, we think of Tylenol.  I think that’s fairly universal.

Now when we think of failed PR in a crisis, I think it’s safe to say most of us think of the Exxon Valdez disaster – the worst environmental disaster in the history of the United States.

True?

Except it seems that the Valdez disaster was far from a disaster from Exxon’s point of view. 

In fact they continue to aggressively fight their victims in court, happy that their corporate coffers can easily outlast those of their victims (SCO versus IBM anyone?).

Now while I do know a small number of people who still refuse to purchase anything from Exxon (now Exxon Mobil Corp.), the fact that they are generating $3 million of cash flow per hour, highlights that it hasn’t exactly hurt them and guess what, that makes Wall St. very happy.

Interesting Reuters story.