Episode 103: Social Media and Banking

Episode 103 originally broadcast on May 26, 2007

School of Business for May 26, 2007

Today John and Russ disrupt your traditional business school teachings with a quote from Samuel Johnson, the birth of Cornelius Vanderbilt this week in 1794, the end of the Model T production line this week in 1927, Gerald Ford vetoing a jobs bill this week in 1975, learning what an adhocracy is, and the city Hoboken, NJ breaking a deal with Robotic Parking, thus trapping many cars and causing the city to spend even more!

Ralph W. Babb Jr. of Comerica Bank

Today Russ talks with Ralph W. Babb Jr., Chairman and CEO of Comerica Incorporated and Comerica Bank, about why they have decided to relocate their headquarters to Dallas, TX after being based in Detroit, Michigan for 150 years. He believes the move will improve their corporate culture because Texas is centrally located Comerica's markets. They also discuss Comerica's international presence, Ralph's perspective on entrepreneurship in America, and his "ordinary" beginnings.

Flashback - Jeremiah Owyang

Flashback a few weeks to Erica O'Grady's interview with Jeremiah Owyang, web strategist, social media advocate and current Director of Corporate Media Strategy at PodTech.net. Jeremy talks about his role in helping PodTech's client's understand social media and strategizing these tools to connect with their customers. His policy of letting go to gain more has helped client's like Intel become more personally involved with their customer base. He also warns companies not to be too structured; be authentic in your communications with customers and listen to the good and bad.