TheStreet.com media critic Marek Fuchs writes that the business media has let Gap CEO Glenn Murphy get away with telling investors that the company’s stores have become too big “all of a sudden” when they have been that way for a decade.
Fuchs writes, “Now let’s be fair. Even scripted to the nines as modern-day CEOs are at such investor gatherings, anyone can speak a bit out of turn, glossing over the darker reaches of reality and framing long-term trouble as near-term slip-ups.
“But then Murphy made his more substantive mistake. And the business media, once more, let it pass.
“After suddenly noticing that Gap stores were too big, Murphy apparently formulated a plan. He’ll simply shrink and consolidate stores. The Wall Street Journal passed along Murphy’s terms like ‘right size,’ ‘sweet spot’ and ‘halo effect’ and even made mention of this strategy’s financial impact in 2009.”
OLD Media Moves
Biz media let Gap CEO get away with script
June 12, 2008
TheStreet.com media critic Marek Fuchs writes that the business media has let Gap CEO Glenn Murphy get away with telling investors that the company’s stores have become too big “all of a sudden” when they have been that way for a decade.
Fuchs writes, “Now let’s be fair. Even scripted to the nines as modern-day CEOs are at such investor gatherings, anyone can speak a bit out of turn, glossing over the darker reaches of reality and framing long-term trouble as near-term slip-ups.
“But then Murphy made his more substantive mistake. And the business media, once more, let it pass.
“After suddenly noticing that Gap stores were too big, Murphy apparently formulated a plan. He’ll simply shrink and consolidate stores. The Wall Street Journal passed along Murphy’s terms like ‘right size,’ ‘sweet spot’ and ‘halo effect’ and even made mention of this strategy’s financial impact in 2009.”
Read more here.
Highlighted News
Swisher to receive Lifetime Achievement Webby
April 23, 2024
Media News
Berke’s cannabis newsletter nearing 15,000 subscribers
April 23, 2024
Highlighted News
Qwoted 100 PR Superstar: Amanda Kruse of UpSpring
April 23, 2024
Media News
Parker named Bloomberg ME of economy/government coverage
April 23, 2024
Media News
Bloomberg’s Cortez moving to Washington
April 23, 2024
Subscribe to TBN
Receive updates about new stories in the industry daily or weekly.