Countrywide Financial Running For Cover - Hires Public Relations Firm To Overcome Bad Press

Blogging Stocks reports:

• After being savaged in The New York Times for dubious lending practices, announcing it will lay-off 12,000 people, and watching its stock price fall from over $45 to $20, Countrywide Financial is hiring a PR firm.

(Not to mention Countrywide CEO Angelo Mozilo pulling down a $142 million/year paycheck last year.)

For more, see Countrywide hires a PR firm.

For the recent New York Times articles on Countrywide Financial, see:

• Can These Mortgages Be Saved? (if link expired, try here),
• Enron’s Second Coming? (if link expired, try here).

See also:

• Reuters - Countrywide PR bid to revive image may be struggle.
• Salon Magazine - Countrywide puts lipstick on the pig.
• Wall Street Journal - Countrywide Tells Workers, 'Protect Our House'.
• See a script of Countrywide's telephone conference call exhorting internal "opinion leaders" to help repair its image. countrywide pressure zebra