OLD Media Moves

CNN's Velshi misstates Exxon earnings

July 27, 2007

Posted by Chris Roush

Jeff Poor of The Business & Media Institute writes that CNN business reporter Ali Velshi made a fact error when he reported Exxon’s recent earnings, and other journalists used the earnings to promote fears about higher gas prices.

Poor wrote, “But Velshi’s own eagerness to dramatize ExxonMobil’s earnings may have caused him to commit a gaffe immediately after the ExxonMobil’s quarterly earnings were announced.

“‘ExxonMobil reporting quarterly earnings of $10.26 billion a share, John. We’re on this and we’re going to continue to find out where that money is being made,’ said Velshi during the 8 a.m. hour.

“Velshi misspoke. ExxonMobil actually showed a second quarter earning of $10.26 billon, or $1.83 a share. That’s down a $100 million from this time a year ago.

“Maligning the oil and gas industry was a theme for ‘American Morning’ on July 26. Like other journalists have tried to scare viewers with $4 a gallon gasoline predictions, Roberts hyped the threat of higher prices.

“‘And some people predicting that we’re not far away from $100-a-barrel oil,’ Roberts said.”

Read more here.

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