By Kathleen Gallagher
Milwaukee Journal Sentinel
WWR Article Summary (tl;dr) For late adopters of linkedin, this is a good article to reaffirm your decision to join the online social media platform. For women in business who want to network there are 414 million other people in the world using the service, ready to connect.
Mike Mallwitz is a no-nonsense executive who for years swore by an old-school communications method: picking up the phone and calling.
Now, however, Mallwitz is increasingly relying on a different approach: LinkedIn.
As president of Busch Precision Inc., a nearly 110-year-old Milwaukee machine shop and rebuilder, Mallwitz says he’s particularly interested in congratulating people for their accomplishments. Maybe he sees a customer featured in a news story, or hears about a former employee who got hired for a new job.
LinkedIn, he says, is a great way to give someone a pat on the back.
“I was hesitant, there’s no question,” Mallwitz said. But in 2009, after taking a class about how to do it, Mallwitz says he slowly became a convert.
Mallwitz is one of 414 million people in the world, by LinkedIn’s count, using the service, which is an online social media platform for business professionals.
As with many technology startups, LinkedIn’s path has by no means been free of obstacles. The social media world is highly competitive, and shareholders can be very demanding.
The company went public in 2011, and its shares traded above $250 as recently as last fall. But a bad revenue forecast, along with concerns over its decision to scrap a business-to-business ad network, sent the stock plummeting more than 40 percent on Feb. 5 to close at $108.
It slid to $100 on Feb. 9 but has since recovered somewhat, trading around $118 Monday. Some analysts contended the massive sell-off was an overreaction.