TheStreet.com reports loss, names Cramer chairman
Financial news site TheStreet.com reported a third-quarter loss on Wednesday and named founder and commentator Jim Cramer as its chairman. A story on the site stated, “TheStreet.com Inc., the publisher of this Web site, said Wednesday that its third-quarter revenue rose 4% from the same period a year earlier, but the financial media company swung […]
Biz media go easy on Google
TheStreet.com media critic Marek Fuchs writes Friday that the business media let Google off the hook by ignoring how cost-cutting improved its profits and instead implied that it was recession-proof. Fuchs writes, “But part of weathering economic uncertainty — especially for a company, such as Google, never known to be overly concerned with costs — […]
Financial Times parent reports strong results
Andrew Edgecliffe-Johnson and Ben Fenton of the Financial Times report that the financial newspaper’s parent, Pearson, reported strong third-quarter results, when revenue from the paper rose 14 percent. Edgecliffe-Johnson and Fenton write, “The FT Group saw sales rise 11 per cent, led by an increase of 14 per cent at FT Publishing, which includes the […]
What were they trying to say?
Mark Anderson of the Ottawa Citizen rails Wednesday against news releases from companies that are indecipherable, even to business journalists who know the jargon. Anderson writes, “The other day I received the following press release: “‘Bridgewater Systems (TSX:BWC) today announced a wholesale solution for WIMAX service providers who wish to leverage their investment in 4G […]
Biz media lack perspective in reporting on Costco
TheStreet.com media critic Marek Fuchs writes that most of the business media, when writing about Costco’s recent earnings, forgot to mention that the company warned in July that its earnings would be lower than forecasted. Fuchs writes, “Here’s a Reuters headline, quite positive: ‘Costco profit up 7 percent.’ “And a Reuter’s lead, equally positive: ‘Costco […]
Where was the financial press?
Howard Kurtz of The Washington Post writes Monday about the role the business media has played in not warning investors and consumers about the current financial and economic crisis. Kurtz writes, “After being burned by years of cheerleading before the dot-com collapse, the media warned repeatedly that the surge in housing prices might turn out […]
Simple skill: Checking facts
Eric Benderoff of the Chicago Tribune believes that citizen journalists posting items about business should check their facts before posting and not be allowed to post unsubstantiated stories like Apple CEO Steve Jobs having a heart attack. Benderoff writes, “I’m not a journalist who believes I have an especially difficult job. But I take my responsibility […]
CNN hands over info to SEC about Jobs heart attack poster
Jessica Mintz of the Associated Press reports that CNN has provided information to the Securities and Exchange Commission regarding a person who posted on its iReport.com site that Apple CEO Steve Jobs had a heart attack, causing its stock price to drop. Mintz writes, “CNN spokeswoman Jennifer Martin said the SEC contacted iReport.com Friday afternoon, […]
Apple stock falls after false report that Jobs had heart attack
An unbylined Atlanta Journal-Constiution story reports Friday that Apple’s stock fell after an erroneous report on a CNN site that CEO Steve Jobs had a heart attack. The AJC story stated, “The iReport.com item said Jobs had suffered ‘a major heart attack’ and was rushed to a hospital. It cited an anonymous source. “The report […]
WSJ steps over the line with Disney
TheStreet.com media critic Marek Fuchs writes Wednesday that a Wall Street Journal story on Walt Disney Co. went too far in predicting financial problems for the company due to the credit crunch. Fuchs writes, “In a WSJ article about Disney today — ‘Headwind Threatens Disney Parks: Global Economic Slowdown Promises to Take a Toll on […]
