I have a good friend in the public relations business in Indianapolis that has simple advice for his clients caught in a tight spot – Tell The Truth.  And be quick about it.  No spinning allowed.

But I don’t think he would have advised David Letterman to handle his indiscretions they way he did.  Letterman, allegedly being extorted by a CBS employee, did tell the truth, using his late night show last Thursday to admit that he had sex with several female employees who worked for his production company, Worldwide Pants Incorporated.  He’s continued over the past few days to continue addressing the issue with comedic asides, not the contrition one would expect.

So far, there hasn’t been a lot of fallout. It’s great for ratings.  I’m sure CBS would have preferred it happening in November.  That’s  when the next important Nielsen sweeps period occurs.

It’s a serious issue. Even though the Worldwide Pants employees have not complained, the risk of claims that they were coerced because of fear of losing employment or favor opens a path that makes lawyers drool.  And, the other employees start seeing disproportionately favorable treatment to other employees, based on you-know-what.

The alleged extortionist has an attorney whose public statements this week sound like Letterman (and CBS) are in for a very uncomfortable 2010.

The public, so far, is giving Letterman a pass. I’m sure Bill Clinton and Mark Sanford are chuckling right now.  Not to mention Sarah Palin.