New Mercury News biz blog scours SEC filings

I’m really liking the new blog from the San Jose Mercury News called “Docu-Drama” launched last month that examines the SEC filings of Silicon Valley companies on a daily basis, looking for hidden nuggets of information. But then again, I’m an SEC filings junkie.

The blog is the work of Chris O’Brien and Jack Davis. O’Brien has been a business reporter at the paper for the past eight years, while Davis calls himself the department’s “designated number cruncher.”

In an e-mail to readers, the two wrote, “Now you’re thinking, ‘Oh, great. I need another blog to follow like I need a hole in my head.’

“So why read this one?

“First, let me answer by explaining what we hope to do. We intend to follow the digital paper trail of Silicon Valley companies. At first, this primarily means combing through the pile of securities filings that public companies make every day that go largely unnoticed. There are too many, that are too long, and too confusing, for even the most dedicated insiders to follow. So we’re going to do it for you. We’ll be looking for the telling details, shocking revelations, and the general wackiness that gets hidden in these financial confessionals. And we hope to make it entertaining, rather than an accounting snooze fest.

“How will we do this? Well, that’s our secret for now. Suffice to say, we’re not outsourcing to some exotic locale, we aren’t using child labor, and no animals will be harmed in the writing of this blog. But, of course, we’ll always appreciate good tips. (No prizes. Hey, haven’t you heard times are tough at newspapers?)

“Eventually, we’ll grow to include just about any kind of public record that companies file. And there are a lot.

“So, that’s the what. Now, back to the ‘why,’ as in, ‘Why bother reading another blog by some pathetic newspaper people making a last-ditch stab at relevance?’ Ouch, that’s a bit harsh. But since you put it that way, we hope to prove you wrong. We’ll be looking to put stuff here that you can’t find anywhere else. We won’t overtax you, but we’ll aim for two or three good nuggets everyday (except weekends, of course). And if we can’t, well, Starbucks is always hiring, right?”

What I also like is the humor that they’re using.