OLD Media Moves

Francisco said she always erred on side of Marketwatch

April 9, 2007

Posted by Chris Roush

Former Marketwatch tech columnist Bambi Francisco, who resigned Friday after criticism of her investment in a tech start-up that had clients she had written about, defended her actions in an interview with Marketwatch media columnist Jon Friedman.

Jon FriedmanFriedman wrote, “‘I complied [with] the rules to the best of my ability,’ Francisco asserted during an 11-minute phone interview with me Friday morning, before she officially left MarketWatch.

“‘I got the approval in September to own and operate this [Vator.tv],’ she commented. ‘I used very good common sense about the decisions I had to make.’

“Francisco also said that if she ever had to face a situation pitting her interests in MarketWatch against those in Vator, ‘my allegiance was always to MarketWatch.’ She contended that it’s ‘entirely incorrect or inaccurate’ for anyone to speculate that she would allow her sources to believe they would receive coverage on MarketWatch if they contributed to Vator.tv.

“Now Francisco is gone, but some lessons still have resonance.

“Above all, journalists should not allow themselves to be put into a situation where there’s even a suggestion of a conflict of interest. Francisco could have used much better judgment. Like I said, hers is a cautionary tale.

“As much as a reporter could be a star in the moneyed world of Silicon Valley, Francisco was just that: a celebrity journalist. Shame on her if establishing a following in that go-go world wasn’t enough to satisfy her ego.”

Read more here.

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