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 […]
Frantic TV coverage of business news
Joanna Weiss of the Boston Globe takes a look at how television has covered the current Wall Street and economy crisis. Weiss writes, “But one thing became clear amid the breathless, wall-to-wall financial coverage: business news isn’t regular news. Watching a financial crisis play out on TV isn’t the same as watching an anchor in […]
Biz journalists continue to write about Wall Street CEOs as heroes
TheStreet.com media critic Marek Fuchs writes Friday that he’s disgusted with the terminology that is continually being used by business journalists to describe Wall Street executives. Exhibit A is Merrill Lynch CEO John Thain. Fuchs writes, “Yet he emerges from the wreckage of Mother Merrill still a hero. He was appointed to a prominent post […]
Erin Burnett in overdrive
Jessica Heslam of the Boston Herald takes a look Thursday at the work of CNBC anchor Erin Burnett, who has been on the air constantly during the Wall Street and economic turmoil. Heslam writes, “The financial fiasco has put the spotlight — and pressure — on cable TV’s business commentators. “While Burnett normally logs long […]
CNBC third quarter ratings are strong
CNBC’s business day, which runs from 5 p.m. to 7 p.m., had a strong third quarter, according to data released Wednesday. In total viewers, business day (318,000) rose 26 percent from last year’s third quarter (253,000) and had its best overall quarter since first quarter 2001. For adults ages 25 to 54, business day (94,000) […]
Even more of a need for business journalism
Jessica Pressler of New York magazine writes that there should be more of a demand for business journalism going forward to explain what’s going on in the economy and on Wall Street. Pressler writes, “One of the things that’s become wildly, hugely evident over the past year, from the early stories about subprime mortgages to […]
Fear and hype on Wall Street
David Cay Johnston, the former New York Times busienss reporter, writes on The New Republic Web site that some recent media coverage of the markets borders on instilling fear in consumers. Johnston writes, “Stock indexes matter in terms of percentage changes, not point changes, because the base changes all the time. How many points an […]
Is biz media to blame for bailout failure?
James Poniewozik of Time magazine writes Tuesday that the business media should shoulder some of the blame on the failure of the Congressional bailout to pass because of its inability to explain the gravity of the situation. Poniewozik writes, “It’s not like the financial press has swept the story under the rug, certainly. But what […]
Brauchli: Biz media did plenty of warning about economic crisis
Jos Strupp of Editor & Publisher writes Tuesday that Washington Post executive editor Marcus Brauchli, previously the top editor at The Wall Street Journal, believes the business media provided ample warning to readers about the current economic upheaval. Strupp writes, “‘There was a lot of coverage over many years about the underlying problems in the […]
Cramer apologizes for being duped by Wachovia CEO
CNBC “Mad Money” host Jim Cramer apologized on his show Monday night for recommending Wachovia stock and for comments made two weeks ago by company CEO Robert Steel, who said everything was fine with the bank, writes Andrew Ross Sorkin of the New York Times. Sorkin writes, “It didn’t help that Mr. Cramer later told […]
