The explosive growth of the web has given rise to a powerful, unique form of word-of-mouth known as consumer-generated media, or CGM. This describes a variety of new sources of online content -- message board posts, blog entries, forum comments, consumer ratings and reviews, even direct company feedback -- created, initiated, circulated and used by consumers intent on educating others about products, brands, services. Fortified by the web’s expanding suite of high-expression “megaphones” – still in the early stages of development -- CGM is playing an unmistakable role in shaping consumer perceptions, awareness, and purchase behavior. It is also leaving an indelible mark on overall brand and corporate reputation. Unlike word-of-mouth centered around the proverbial “water cooler,” CGM leaves a digital trail, or what might be referred to as “reputational residue.” Importantly, CGM is archived and cataloged on the web’s public, non-erasable hard-drive, and easily accessible via search to millions of impressionable consumers and market place influencers, including media writers, analysts, regulators, lawyers, and even insurance companies. Indeed, some of the hardest, most pointed questions being put to CEOs today about corporate health are stimulated by or sourced via transparency-enabling CGM.