Tim Beyers of The Motley Fool writes Friday about how some tech industry CEOs have been blaming TV business journalists for their bad rap.
Beyers wrote, “During a Wednesday afternoon conference call with analysts to discuss his company’s solid but unspectacular second-quarter earnings, [Cisco CEO John] Chambers whined about TV news coverage of the tech industry:
I think we are actually talking ourselves into this [economic] slowdown. Over the last three or four months, I felt pretty good about business until I got on the treadmill — and then I quit early because of the pessimism that exists in the market.
“So let me get this straight. Squawk Box is responsible for the so-called tech meltdown? Chambers can’t be serious, right?
“Wrong. Just ask Intel CEO Paul Otellini. Quoting from his remarks in the chipmaker’s fourth-quarter conference call:
I have the same caution that I think everybody in America who watches CNBC has today. You hear all of the pundits saying that the world is going to go to a trash basket and you worry. It may be a self-fulfilling prophecy.””
Read more here. Beyers doesn’t believe the reasoning.
OLD Media Moves
CNBC destroys tech stocks? Get serious
February 8, 2008
Posted by Chris Roush
Tim Beyers of The Motley Fool writes Friday about how some tech industry CEOs have been blaming TV business journalists for their bad rap.
“So let me get this straight. Squawk Box is responsible for the so-called tech meltdown? Chambers can’t be serious, right?
“Wrong. Just ask Intel CEO Paul Otellini. Quoting from his remarks in the chipmaker’s fourth-quarter conference call:
Read more here. Beyers doesn’t believe the reasoning.
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