Five minutes to ruin a reputation

Warren Buffett famously said: "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." Chicago Blackhawks Chairman Rocky Wirtz should have considered Buffett's advice, as I wrote in my commentary published Feb. 4 in Crain's Chicago Business. I analyzed Wirtz's mishandling of reporters' questions about the team's efforts to move on from a sexual assault scandal and litigation and advised how to "TACTfully" avoid such mistakes. Wirtz's public outburst provides a lesson in what not to do when your reputation matters and you are trying to regain public trust.