The cliches in business journalism

Mark Patinkin of the Providence Journal writes Sunday that some readers are tired of reading cliches in business journalism.

Patinkin wrote, “Some of you may think stocks went down last week after some poor earnings. In fact, the bottom fell out after some S&P powerhouses failed to beat the street.

“But there were some bright spots, mostly with client-centered companies that push the envelope by thinking outside the box. Apple Computer, for example, by focusing on its core competencies, has become a cash cow. I know what a golden goose is, but I’ve never figured out a cash cow. I think that means if you milk it, money will come out, but metaphorically, it would make more sense to have a cash sheep. Journalists, however, prefer alliteration.

“As far as animal business clichÉs, I’m partial to a dead cat bounce, which is what they call it if a plummeting market briefly soars before resuming its plunge. Google tells me there were 33 dead cat bounces observed by newspapers recently, mostly regarding home-builder stocks.

“There is also a lot of retreating in business journalism. Investors, for example, retreated from the previous day’s rally last week after Exxon posted a second-straight, well, retreat in quarterly profit. This spooked the markets. The markets always get spooked by retreats.

“And thank God for automotive lexicon. For example, the feds are now in the driver’s seat because a rate cut could jumpstart a rally, and get the economy firing on all cylinders.”

Read more here.