Local economy loses industries and small businesses

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Reference no: EM132295192

Scenario: would you run these ads

You are the sales manager for a local radio station that has seen a dramatic downturn in ads and revenue as the local economy loses industries and small businesses. One of your biggest advertisers has been Migh TY Mortgage. Migh TY Mortgage sport feature the company president. Tom Tyler, promising to “save our friends lost of cash”. In these commercials, Tyler claims that his company offers the lowest mortgage rates and will pay to have homes appraised.

Two weeks ago, state regulations charged Migh TY Mortagage with a variety of unethical and illegal practices. The firm offers no proof that its loan rates are the lowest and charges enough in fees to more than cover the cost of the free appraisals. Investigators also found that, in most instance, Migh TY failed to properly disclose loan terms to borrowers. The state wants to revoked the company’s license, fine Tyler $250,00 and make sure the mortgage lender pays restitution to borrowers. However, final action has not been taken and will not be for several months.

After temporarily pulling his ads, Tom Tyler wants to go back on your station’ s airwaves with a new set of commercials. The new sports still promise to save listeners lots of money but no longer mention free appraisals. Instead of claiming to offer the lowest interest rate, Migh TY Mortgage now says it offers a low interest rate.

Would you broadcast the new commercials for Migh TY Mortgage? Explain?

Reference no: EM132295192

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