Homebuilder glosses over write-off, and biz reporters ignore it
June 4, 2008
TheStreet.com media critic Marek Fuchs writes Wednesday about how homebuilder Toll reported another write-off when it released earnings, but the media that wrote about the results downplayed or ignored the fact that because the company asked politicians to fix the home crisis.
Fuchs writes, “The Business Press Maven always tells you that local news can either be the best or worst of coverage, having either great sources or sources the reporters are too chummy with?
“Well, The Triangle Business Journal, based in the Raleigh-Durham-Chapel Hill area of North Carolina where Toll is active and powerful, fell in the latter camp. The paper’s offering managed to feature the quote that laid siege to investor attention without — I kid you not — even mentioning the write-off. Though a full paragraph was given to the company’s beg to Washington, dust the article for evidence, and you won’t find the write-off. Yikes.
“The Associated Press was not, overall, more negative on Toll. This report, in fact, mentioned in the lead that the company surpassed Wall Street’s expectations. But it appropriately managed to work in news of the nearly $300 million write-off, which it called ‘hefty,’ and did not take the bait on the whine to Congress.”
OLD Media Moves
Homebuilder glosses over write-off, and biz reporters ignore it
June 4, 2008
TheStreet.com media critic Marek Fuchs writes Wednesday about how homebuilder Toll reported another write-off when it released earnings, but the media that wrote about the results downplayed or ignored the fact that because the company asked politicians to fix the home crisis.
Fuchs writes, “The Business Press Maven always tells you that local news can either be the best or worst of coverage, having either great sources or sources the reporters are too chummy with?
“Well, The Triangle Business Journal, based in the Raleigh-Durham-Chapel Hill area of North Carolina where Toll is active and powerful, fell in the latter camp. The paper’s offering managed to feature the quote that laid siege to investor attention without — I kid you not — even mentioning the write-off. Though a full paragraph was given to the company’s beg to Washington, dust the article for evidence, and you won’t find the write-off. Yikes.
“The Associated Press was not, overall, more negative on Toll. This report, in fact, mentioned in the lead that the company surpassed Wall Street’s expectations. But it appropriately managed to work in news of the nearly $300 million write-off, which it called ‘hefty,’ and did not take the bait on the whine to Congress.”
Read more here.
Full-Time
Crain’s Chicago seeks an AME of news
May 1, 2024
Media News
FT’s Agenda hires Sandler as associate editor
May 1, 2024
Media News
Claman of Fox Biz inducted into Cable Hall of Fame
May 1, 2024
Media News
BBC News hires Edwards as money, work and tech reporter
May 1, 2024
Media News
Maher named Reuters deputy breaking news editor for Middle East
May 1, 2024
Subscribe to TBN
Receive updates about new stories in the industry daily or weekly.