The votes are in, and we are pleased to announce our picks for best risk communications in 2012. The year had plenty of risk to go around – a presidential election, an uncertain global economy and a fragile European union. Our Risk List recognizes the people who best demonstrated how risk-taking and excellent communication were a formula for success.
1. President Barack Obama – Watching President Obama’s inauguration this week, it was easy to forget how uncertain his 
re-election prospects looked a year ago. But with good risk-taking and near-flawless execution he prevailed, winning despite an unemployment rate of 8 percent, something that hadn’t been done since Franklin Roosevelt.
The campaign made several big bets that paid off: it went after Mitt Romney’s business record early and aggressively; it invested heavily in technology to bring voters to the polls on election day. And it defended the president’s policy record even when the electorate was still divided on many of them, like healthcare, the bank bailout and the economic stimulus. Winning requires taking the right risks at the right time, and that’s exactly what Obama did.
2. Tim Geithner – It’s hard to find another Treasury Secretary who faced the kind of risks Tim Geithner did, or one who handled 
them as well. When he took the post, the world was darkening – a blown housing bubble, a banking system near collapse, a deep recession, a combative Congress and balky allies in Europe and Asia.
Geithner’s cool public style (in contrast to his sharp and profane private one) was just one of several traits that offer lessons for dealing with a crisis. Besides remaining composed under pressure, Geithner showed that having a game plan and sticking with it, despite doubts and criticism (e.g. stress tests and capital injections for banks) is a big advantage in a crisis. He also proved the virtue of doing lots of small things (like encouraging the Federal Reserve’s multiple credit and asset-purchase programs) in addition to a few big things (like TARP and the AIG rescue). The far bigger risk would have been doing too little.
3. Joe Girardi – We underestimate the difficulty of being a manager in major league baseball because so many managers do it 
well. It’s only the spectacular blow-ups (like Terry Francona and the 2011 Red Sox) that remind us how challenging it is.
Communication is at the heart of these roles: motivating players with giant egos, handling the constant media attention, keeping the support of the owners and the goodwill of fans. It’s easy to look like an excellent communicator when you’ve won. But it’s losing that really puts you to the test.
Yankees manager Joe Girardi handles his role masterfully, and there was no better example than the way he dealt with the team’s stunning exit from the postseason in a four-game sweep – a dismal feat that hadn’t been equaled for nearly half a century. He took the criticism, didn’t make excuses and didn’t hide from the media.
4. William Shatner – Everyone knows William Shatner for his role as Captain James Kirk on Star Trek. What isn’t as well 
known is his willingness to take risks in his career and create other enduring characters, like Denny Crane on Boston Legal.
Shatner performed a one-man show on Broadway earlier this year – itself a risky thing for any actor, let alone one who is nearly 82. He spoke to NPR about the play and his attitude toward risk:
“It’s very easy to say no to leaving the house. I’m happy with what I got. No, I’m not going there. No, I don’t want a new idea — the old idea is fine. No, I don’t want a new thing — whether it’s a president, an idea, a concept. No. And you’re safe. You’re right in your little hole; you haven’t moved. And what you’re doing before is what you’re doing now. And that’s safe. That’s comforting, and you’re going to die that way. ‘No,’ and you’re put in your hole and that’s fine and you’re dead. ‘Yes’ requires you to move out of that hole. ‘Yes’ is like those little animals that pop their heads out and look around.”
Later in the interview, he speaks about the acting at a very high level of proficiency, but it really applies to any creative activity:
“When you’ve done the technical part, you’re then into the joy, the zen, into being,” he says. “Technology no longer exists for you. You’re then into the mystery of the thing you’re doing.”
The experience Shatner speaks about is the payoff from hard work and risk-taking, and it’s familiar to many a musician, artist or athlete.
5. Mary Nichols – As chairman of the California Air Resources Board, Nichols has been on the front lines in the battle to adopt a 
cap-and-trade program to curb carbon emissions.
It’s been a tough fight, with both business and environmental groups opposing large parts of the plan. But the program was launched successfully this fall with the first auction of carbon permits, setting the stage for further growth in the emerging carbon market.
The project would not have happened without the courage, determination and leadership demonstrated by Nichols. One of her best moments was when she faced down demands from the oil industry that they be given free permits:
”Easing the transition is one thing; leaving the entire industrial sector outside the arena where every other member of society, from forestry to municipal sewage treatment plants is taking aggressive measures to reduce their emissions is just plain unacceptable.”
Tough words. But sometimes that’s what it takes to handle a tough issue.