Critiquing the Citigroup bailout coverage
TheStreet.com press critic Marek Fuchs writes Monday about the coverage of the government’s bailout of Citigroup. Fuchs writes, “The first thing the bailout coverage must do is provide an overview of recent history and, specifically, how other government bailout plans of banks were greeted with relief by investors, who within days lost their confidence again. […]
TheStreet.com closes San Francisco bureau
Jeff Bercovici of Conde Nast Portfolio reports that TheStreet.com is closing its San Francisco office. Bercovici writes, “A spokeswoman confirms it, but declines to say how many jobs have been eliminated as a result, or whether San Francisco bureau chief Mike Goodman will be staying with the company; one source says he will. “‘We’ve made […]
Rich CEOs are not like us, contrary to what biz media tells you
Marek Fuchs, the media critic of TheStreet.com, wonders why some media like the Associated Press write about how much money CEOs have lost during the economic crisis — just like the average investor — when they’re still performing better than the overall market. Fuchs writes, “And this is just what went on here, though the […]
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 overlook potential bottoming of housing market
TheStreet.com media critic Marek Fuchs writes Monday that the business media have overlooked what may potentially be the bottom of the housing market currently causing the financial crisis. Fuchs writes, “The business media can be overly negative. They can be overly positive, too. The consistency comes in the ‘overly’ part: The business media is always […]
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 […]
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 […]
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 […]
Critic: Lehman media coverage sloppy
TheStreet.com media critic Marek Fuchs writes Monday about the coverage of Lehman Brothers fall from grace and finds it riddled with errors. Fuchs writes, “Though The Business Press Maven can normally dwell on other people’s mistakes forever, I’ll limit myself to four mistakes of either fact or theme: “CNNMoney went with this dumbbell of a […]
By wary of portraying stock buybacks as confident move
TheStreet.com media critic Marek Fuchs looks at a New York Times story on Lehman Brothers and how it portrayed a recent stock repurchase plan and cautions business journalists from implying that such moves convey that the executives are bullish about future prospects. Fuchs writes, “Even when the buyback goes beyond a gesture designed to impress […]
