In creating the list, editors and contributors went through several drafts, culling certain events and adding others, until settling on the final 10.
Two notable incidents nearly made the list, but they were left off because deft communication helped quell the firestorms before they leveled a major corporation or further sullied an official’s reputation.
Here are the two disasters and how the people involved managed them:
JPMorgan Chase loses billions in bad trades
In May, JPMorgan Chase reported a trading loss of $2 billion—it eventually swelled to nearly $9 billion—because of a bad bet on credit derivatives.
The public howled, as some called for CEO Jamie Dimon to resign; the company’s stock plunged, and the FBI launched an investigation. At the time, we suggested it might well be the worst PR disaster of the year.
However, Dimon’s handling of the matter was textbook crisis PR. He announced the loss in an investor call, spending two seconds mentioning the $2 billion and the next half-hour apologizing.