What the mistakes in the NYTimes' Bartiromo story mean

Felix Salmon of Conde Nast Portfolio wonders how mistakes could have been made in a Monday story in the New York Times business section about CNBC anchor Maria Bartiromo that included getting wrong the names of a Citigroup executive and an investment fund.

Bercovici wrote, “This is more than a storm in a media teacup: it speaks to the shallowness of the NYT’s bench when it comes to business coverage. Some of the reporters have no idea what they’re talking about, and the editors don’t seem to be up to speed enough on business issues to catch mistakes. On any serious financial publication, substantially everyone should know what a sovereign wealth fund is. As the IMF’s Simon Johnson notes, these funds now run some $2-3 trillion, and could reach $10 trillion by 2012. Those are enormous sums of money.

“The market in business news has moved online, and is both increasingly competitive and increasingly lucrative: ads on business news websites are some of the most expensive on the web. The NYT’s strong online franchise gives it a headstart in this market, but once the FT and the WSJ go free, it’s going to need more than that.”

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