Author Archive
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The Audit
WSJ’s Bold Plan to Expand Subscription Revenues
May 11, 2009 08:26 AMRupert Murdoch of late has been making the boldest noises of anyone in the newspaper industry on the search for new business models. Last week, he told investors that News Corp. is going to start charging online readers of... Continue reading
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The Audit
Press Buries the GAO’s Damning Report on the SEC
May 8, 2009 12:43 PMSpeaking of Moe Tkacik: She points out a General Accountability Office report on the SEC that got woefully underplayed in the press this week—and pulls out some gems. The GAO reported that former chairman Christopher Cox "created an... Continue reading
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The Audit
Journal’s Accountability Reporting Gets a Major Scalp
May 8, 2009 09:07 AMThat didn't take long. Stephen Friedman, the New York Fed chairman and Goldman Sachs director shareholder, whose conflicts were exposed by the Journal on Monday, resigned from the Fed. It's a score for the WSJ, reporters Kate Kelly and... Continue reading
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The Audit
Center for Public Integrity Puts the Subprime Puzzle Together
May 7, 2009 04:02 PMThe Center for Public Integrity yesterday released a dynamite report on the interconnections between Wall Street and the subprime-mortgage industry. It's after The Audit's very heart, and it's gotten wide play in the press, including on the front page... Continue reading
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The Audit
Murdoch Leads the Charge on Paid Content
May 7, 2009 01:16 PMSay what you will about Rupert Murdoch (and we have), the guy's a smart businessman. Last week, I reported that Murdoch himself was "displeased" that the Journal is free on iPhone and Blackberry and that charging would begin in... Continue reading
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The Audit
They Are CNBC
May 7, 2009 09:48 AMMake sure you don't miss my friend Moe Tkacik's piece on CNBC, hot off the presses in the Columbia Journalism Review and new online here. Here's Tkacik on Jim Cramer and Rick Santelli: If Cramer does share anything with... Continue reading
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The Audit
WSJ Compares German and American Safety Nets
May 7, 2009 09:15 AMI like this Wall Street Journal page-one "leder" looking at the difference in the European and American safety nets and how that affects workers and the economies. It also broadens the story's implications with a good nut graph about... Continue reading
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The Audit
Kindle a Newspaper Life Saver?
May 6, 2009 03:12 PMIs this the gadget that will save the newspaper? That angle has been, if not dominant, then significant in the ramped up coverage of the new, bigger Kindle, which Amazon, with the help of one Arthur Sulzberger Jr., unveiled... Continue reading
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The Audit
Bloomberg Squawked, Regulators Balked
May 6, 2009 12:57 PMSpeaking of insider trading of credit-default swaps (you just can't get enough!), Felix Salmon of Reuters digs up a prescient Bloomberg story about that from 2006. Here was Bloomberg's headline: Credit-Default Swaps May Incite Regulators Over Insider... Continue reading
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The Audit
Credit-Default Swaps: WSJ vs. NYT
May 6, 2009 09:38 AMWhich story about insider trading of credit-default swaps would you rather read? Here's the Journal's C1 lede: The Securities and Exchange Commission brought its first-ever case alleging insider trading in credit-default swaps -- an opaque derivative investment at... Continue reading
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The Audit
The Journal After Murdoch
May 5, 2009 05:12 PMThe latest issue of our magazine is out, and the first piece we've put online is Liza Featherstone's look at The Wall Street Journal under Rupert Murdoch. Featherstone finds that while the apocalypse has clearly not happened, the paper... Continue reading
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The Audit
BizWeek Takes on Confusing Contracts
May 5, 2009 01:53 PMBusinessWeek uses the administration's plan to crack down on credit-card companies as a jumping-off point to look at how it got so easy for them to abuse their consumers. One big reason: Contracts that let banks change any term... Continue reading
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The Audit
Bloomberg Cuts Through the Corporate-Tax Spin
May 5, 2009 09:19 AMI like Bloomberg's tack on the Obama corporate-taxes story, reporting on real examples of tax avoidance—ones that counter Big Business's spin better than any he-said/she-said. Obama wants to raise a couple of hundred billion dollars over the next decade... Continue reading
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The Audit
John R. Wilke, Longtime Journal Reporter, Dies at 54
May 4, 2009 03:45 PMLongtime Wall Street Journal reporter John R. Wilke died of cancer this weekend and it's a big loss for financial journalism. Wilke was one of the top investigative reporters at the paper and in the business, getting scoop after... Continue reading
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The Audit
WSJ Exposes the New York Fed Chairman
May 4, 2009 01:57 PMThe Journal fronts a scoop that the chairman of the New York Fed not only held Goldman Sachs shares in violation of Fed policy but loaded up on more of them while his appeal for an exemption was under... Continue reading
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The Audit
Chrysler Cramdown in Context
May 4, 2009 09:17 AMIf you read the coverage of the Chrysler bankruptcy a few days ago in The Wall Street Journal and The New York Times, you might have come away confused about how likely the Obama administration's plan is to go through.... Continue reading
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The Audit
Bloomberg Pushes Hard on Credit-Raters Story
May 1, 2009 04:32 PMBloomberg has done a good job keeping the credit raters in the spotlight, and its latest story shines a harsh one on Standard & Poor's, Moody's, and Fitch Ratings. The Berg doesn't dance around the fact that the credit-ratings... Continue reading
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The Audit
WSJ’s Free iPhone App: Rupert “Displeased”
May 1, 2009 04:02 PMI wrote last week that The Wall Street Journal was screwing up by not charging for its swell new iPhone application and its somewhat-older BlackBerry one, despite charging good money for its website and for a paper subscription. Amy... Continue reading
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The Audit
NYT Muni-Bond Story Effects Quick Change
May 1, 2009 11:36 AMThe good Times story on small-town Tennessee losing big on derivatives is getting quick results. The state is planning "revolutionary" regulation to pretty much prohibit municipalities from using derivatives at all, the Times reports today: The comptroller, Justin... Continue reading
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The Audit
The Economy Is Much Worse Than the Numbers Say
May 1, 2009 09:15 AMBarry Ritholtz of The Big Picture said a couple of days ago that the abysmal GDP numbers, down 6.1 percent in the first quarter, were artificially improved by the collapse of imports. Today, he follows up with a note... Continue reading
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