TheStreet.com media critic Marek Fuchs writes Wednesday that some media — Barron’s, BusinessWeek and the New York Post — missed the story behind Wal-Mart’s strong earnings, while The Wall Street Journal got it right.
“But it’s as if the business media, too often complacent, was literally plugging their ears to the new story at Wal-Mart. Wal-Mart has run overseas and one takeaway of yesterday’s report was that it’s working quite well, thank you.
“Let’s take a quick look at one business media outlet that captured Wal-Mart’s accomplishment in this regard with a perfectly appropriate emphasis. We’ll look at another that at least bothers to mention it. Then we’ll let loose on a couple of media outlets that don’t even mention the word ‘international.’
“From Gary McWilliams at The Wall Street Journal, we get a pitch-perfect headline that centers upon the word ‘Global.’ The lead, God bless it, rightly credits Wal-Mart’s international sales as making up for a host of other troubles.”
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