SABEW issues statement on the role of the financial media

The Society for Advancing Business Editing and Writing issued the following statement on Friday:

On the 125^th anniversary of Labor Day, the Society for Advancing Business Editing and Writing (SABEW) recognizes the contributions that our members make in delivering important information and insights to the public.

At a time when markets are facing whiplash from conflicting policy directives, the role that our journalist members play in informing the public with their reporting is crucial to the smooth functioning of the free market system.

To do their work, SABEW members count on access to financial markets data and economic reports that are trusted and timely. We are also dependent on access to government officials and corporate executives in order to provide relevant insights and context for our audiences.

While we welcome the recent statement by The Business Roundtable adopting an expanded definition of corporate governance, we would add that dealing with the financial press in a fair and ethical way is part of the essential duty of a corporation. As The Economist wrote in its Aug. 24 editorial: “The way to make capitalism work better for all is not to limit accountability and dynamism.”

As we take time out to celebrate the contributions of hard-working Americans, SABEW applauds the efforts of our members to make sense of complex issues in a turbulent time.