New York Times reporter Geraldine Fabrikant takes a close look at CNBC anchor Maria Bartiromo and her association with Citigroup in Friday’s newspaper.
Bartiromo’s trip on a Citi corporate jet is apparently what led to the ouster of one of its executives earlier this week. Fabrikant reported that it wasn’t the first time Bartiromo had flown on the plane.
Fabrikant wrote, “CNBC also denied that Ms. Bartiromo had involvement with Citigroup more so than other businesses. In its statement, CNBC said, ‘In 2006 alone, she made 46 public appearances on behalf of CNBC.’
“The CNBC representative said that as the on-air figure most closely associated with the channel, Ms. Bartiromo routinely made promotional appearances at corporate events. Many of the corporations advertise on CNBC. Citigroup is among the biggest advertisers, a CNBC spokesman said.
“Of the 46 appearances Ms. Bartiromo made in 2006, the CNBC representative said, only three were on behalf of Citigroup. The list of other companies with events at which she appeared last year included Google, Schwab and Dow Jones.
“In no case was Ms. Bartiromo paid for speaking at the events, the CNBC representative said. The channel defended Ms. Bartiromo’s travel arrangements. The statement said, ‘Her travel has been company-related and approved, and involved legitimate business assignments.’ The CNBC representative added that the awards event in London was a routine appearance for Ms. Bartiromo.”
Read more here. The Wall Street Journal has a very similar story this morning.
Meanwhile, The Washington Post’s Howard Kurtz entered into the Bartiromo coverage on Friday, noting that her close association with some companies is raising questions.
Kurtz wrote, “CNBC executives say they approved and paid for each trip, and reimbursed Citigroup for the corporate flight. But the time and distance involved raise questions about how close Bartiromo has gotten to some companies she covers and whether she has become more of a celebrity journalist than the Wall Street workhorse of her earlier years.”
Later, Kurtz wrote, “While some of the 46 events involved other major corporations, such as Google, Charles Schwab and General Electric, they also included appearances on behalf of the AARP, Milken Institute, New York University and various charities.
“CNBC executives say that Bartiromo was fostering positive publicity for herself and her network while developing high-level sources among companies she covers. ‘I don’t think there’s even the appearance of a conflict of interest,’ said one executive who asked not to be identified while discussing personnel matters. ‘We paid our way. This is what we cover. This is what we do.'”
