Despite Morgan Stanley, Corporate Recruiters Embrace VaultReports.com's Message Boards

Business Wire, June 7, 1999

NEW YORK--(BUSINESS WIRE)--June 7, 1999--

While Morgan Stanley Dean Witter (NYSE: MWD) has blocked its employees from visiting VaultReports.com's new message boards for employees, the rest of the recruiting world has been embracing the site as a uniquely powerful means of gauging employee satisfaction.

A major victory for VaultReports.com's message boards came last Friday when Electronic Recruiting News (ERN), one of the most trusted observers of the recruiting business, published a glowing review of the boards (see: http://www.interbiznet.com/ern/archives/990530.html). With the arrival of VaultReports.com's message boards, says ERN, corporate "attempts to manage the truth" are becoming increasingly difficult. ERN says that the healthiest companies are the ones that resist the "old fashioned" need to manage the truth and learn from the "mix of varying opinions" on VaultReports.com's message boards. ERN advises the recruiting community that, "If you're not tracking the VaultReports.com message boards about your company, it's time to start."

Corporate recruiters are also issuing their stamp of approval by posting their own messages on the VaultReports.com message boards. Companies ranging from Young & Rubicam to Mitchell Madison Group to DMB&B Advertising have joined the growing discourse. Some companies are using VaultReports.com's message boards to answer prospective employees' questions about the company, while others are answering specific concerns about their recruiting procesess. The Mitchell Madison Group, for example, recently posted an explanation of why it rescinded offers it made to a number of candidates.

Other companies are inviting their employees to start posting on VaultReports.com's message boards, in hopes of letting the world know how great their company is. One senior vice president at Young & Rubicam (NYSE: YNR) wrote: "I think [these message boards] are a great tool to post information that you'd like to have people to respond to... I'd like to invite Y&R employees to get on this board and `chat' and let people know what the company's all about."

To visit VaultReports.com's message boards, go to: http://vaultreports.com/links/MSMessageboard

About VaultReports.com

In January, VaultReports.com (http://www.VaultReports.com) was one of only two career web sites honored by Yahoo Internet Life as "Best of the Best Sites for 1998." A leading workplace portal, VaultReports.com publishes "insider" guides on over 1,500 companies and 50 industries. Eight weeks ago, VaultReports.com launched its Electronic WaterCooler(tm), the first-ever network of company-specific bulletin boards for employees. Located at http://www.vaultreports.com/links/MessageBoards, Vault's Electronic WaterCooler(tm) allows employees around the world to dish the latest gossip about their company or other companies - all within the uncensored domain of the VaultReports.com web site. VaultReports.com was founded in 1996 by H.S. Hamadeh, Samer Hamadeh, and Mark Oldman, recent graduates of Stanford and Wharton.