Reporting on Merrill Lynch deal fails to explain risk it's kept
July 31, 2008
TheStreet.com media critic Marek Fuchs takes issue with reporting at Forbes and the New York Times that ignores or plays down the risk that Merrill Lynch has kept by financing a deal to take $11 billion of risky investments off its books.
Fuchs writes, “And, as happens when you don’t let your foot get caught on the details of a deal, a false conclusion came next, set out happily in the very next line:
‘John Thain, Merrill’s chief executive officer, appears to be doing everything he can to wipe the slate clean for the company.’
“Yes, he’s wiping the slate clean … by financing the sale of the bucket of slop and keeping much of the risk.
“While Forbes really struck out on behalf of investors, others — like The New York Times — at least touched upon the technicalities of the financing but failed to explain what it meant.”
OLD Media Moves
Reporting on Merrill Lynch deal fails to explain risk it's kept
July 31, 2008
TheStreet.com media critic Marek Fuchs takes issue with reporting at Forbes and the New York Times that ignores or plays down the risk that Merrill Lynch has kept by financing a deal to take $11 billion of risky investments off its books.
Fuchs writes, “And, as happens when you don’t let your foot get caught on the details of a deal, a false conclusion came next, set out happily in the very next line:
“Yes, he’s wiping the slate clean … by financing the sale of the bucket of slop and keeping much of the risk.
“While Forbes really struck out on behalf of investors, others — like The New York Times — at least touched upon the technicalities of the financing but failed to explain what it meant.”
Read more here.
Media News
Podcast producer Mannarino departs Adweek
April 25, 2024
Media News
Orange County Biz Journal hires Koch as its editor
April 25, 2024
Full-Time
Wired seeks a senior writer to cover China
April 25, 2024
Media News
Star-Tribune biz reporter Kumar is now community engagement director
April 25, 2024
Media News
Why The Markup joined CalMatters
April 25, 2024
Subscribe to TBN
Receive updates about new stories in the industry daily or weekly.