Author Archive
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The Audit
The New York Times prepares to leave the content farm
August 9, 2012 06:50 AMThe New York Times Company looks set to exit the content-farm business, with AllThingsD's Peter Kafka reporting that the company has signed a letter of intent to sell About.com for $270 million. It was never clear how a low-quality... Continue reading
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The Audit
A welcome spotlight on trade deals
August 8, 2012 11:00 AMIn March, the Obama administration implemented a trade agreement with South Korea that it promised, implausibly, would create tens of thousands of jobs to the U.S. While we've had just two monthly trade reports since the agreement went... Continue reading
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The Audit
Audit Notes: Auditor conflicts, Frannie holdup, London Whale pressured
August 8, 2012 01:11 AMFrancine McKenna looks at Deloitte's role in the latest money-laundering scandal and how it points to conflicts of interest in the auditing industry's business model: There’s big temptation for Deloitte or any of the Big Four audit firms who... Continue reading
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The Audit
Audit Notes: Singing on Libor, another bank scandal, Star Tribune
August 7, 2012 06:50 AMThe New York Times, in a good page-one story, reports that giant banks are selling each other out trying to scurry to safety in the Libor scandal. In trying to work out a deal, (Barclays) offered information on the... Continue reading
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The Kicker
Required skimming: Libor
August 6, 2012 06:50 AMThis month, CJR presents “Required Skimming,” a daily miniguide to our staffers’ beats and obsessions, ranging from finance to food. If we overlooked any of your must-read destinations, please tell us in the comments. • Ian Fraser: The... Continue reading
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The Audit
Audit Notes: California’s Enron echoes, Sox toolbox, the Dow’s decade
August 5, 2012 06:50 AM— Michael Hiltzik had a good column two weeks ago on allegations that JPMorgan Chase manipulated California energy markets: The Federal Energy Regulatory Commission, the regulator of the ISO and its trading markets, has started a formal investigation into... Continue reading
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The Audit
The Washington Post’s not-so-good earnings report
August 3, 2012 03:39 PMHere's how the Washington Post covers its namesake parent company's dismal second-quarter earnings report: Washington Post Co. second-quarter profit up 13.6 percent Here's how everybody else covers the Washington Post's erns: Bloomberg News: Washington Post Profit Drops as... Continue reading
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The Audit
Audit Notes: Taibbi on TBTF, the paranoid rich, Olympics
August 2, 2012 06:50 AMIt's unclear why The New York Times is running op-eds on finance from a guy who is still operating under an SEC ban as part of a settlement in a kickback investigation. But Steve Rattner, Obama's former car czar, gets... Continue reading
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The Audit
The Times airbrushes Tiger Fund’s flop
August 1, 2012 11:10 AMThe New York Times posts a flacktacular Business Day piece on a new hedge fund named Falcon Edge. This new hedge fund is profile-worthy because it has raised $1.2 billion and because its founder, Richard Gerson, used... Continue reading
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The Audit
Audit Notes: News Corp.’s board, Romney’s taxes, NBC’s Olympics
August 1, 2012 06:50 AMThe Guardian's Nick Davis, with David Leigh, has another stunner on the hacking scandal. They report that Britain's Crown Prosecution Service, which last week charged eight News Corp. journalists and executives with crimes, is considering criminal charges against... Continue reading
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The Audit
Audit Notes: Twitter’s censors, NYT apology, Craigslist’s aggregators
July 31, 2012 06:50 AMTwitter gave itself a serious black eye today, censoring a journalist for reporting the easy-to-figure-out corporate email address of NBC Universal's top Olympics executive. The Independent's LA bureau chief Guy Adams tweeted this today as part of his... Continue reading
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The Audit
When a news executive sits on a bank’s board
July 23, 2012 11:00 AMIt’s unusual—rare, even—for the CEO of a major financial news and information concern to serve on the board of directors of a giant global bank. There’s a reason for that. Rona Fairhead, who heads the Financial Times Group,... Continue reading
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The Audit
The WSJ on the fall of Nokia
July 20, 2012 07:26 PMThe Wall Street Journal has an excellent page-one story on the fall of Finnish cellphone giant Nokia—the kind of deeply reported classic WSJ corporate leder we just don't see much anymore. It went and put a weak lede on... Continue reading
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The Audit
Audit Notes: Bloomberg on Libor, “can’t find workers” in the WSJ
July 20, 2012 12:57 AMBloomberg names names in the Libor investigation, reporting that at least 34 traders from more than a dozen banks are being examined: Regulators are examining the possible roles of Michael Zrihen at Credit Agricole, Didier Sander at HSBC and... Continue reading
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The Audit
Audit Notes: Ignoring Libor, Barron’s, rich kids and TV news
July 19, 2012 06:50 AMThe Washington Post's Erik Wemple points to Media Matters research that shows ABC's and NBC's nightly newscasts completely ignored the enormous Libor scandal unfolding here and in the UK during the first two weeks of the story.... Continue reading
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The Audit
More on NPR and manufactured quotes
July 18, 2012 04:38 PMNPR Ombudsman Edward Schumacher-Matos (who teaches here at Columbia) takes a look at the network's poor showing with manufacturing sources over the last few weeks. I wrote about this last Tuesday, noting how a couple of small businessmen,... Continue reading
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The Audit
Audit Notes: Too big to fail football, Guardian digital numbers, WaPo
July 18, 2012 06:50 AMIt's not just the banks. Now elite college football programs are too big to fail, as well. Here's Bloomberg News on Penn State and a potential NCAA death penalty for its sexual-abuse scandal: If the NCAA levies the death... Continue reading
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The Audit
The WSJ Editorial Page and the Libor scandal
July 17, 2012 11:00 AMWhen wrongdoing by Big Business is in the news, you can usually count on the WSJ editorial page to do its best to downplay the story and shift the blame to its three favorite boogeymen: the press, the government, and... Continue reading
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The Audit
Audit Notes: Statute of limitations, whither The Daily, Romney’s taxes
July 17, 2012 01:55 AMThe Wall Street Journal is good to keep an eye on the statutes of limitation clocks that are running out on Wall Street fraud. The paper reports that a federal court ruled last year that the five year statute... Continue reading
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The Audit
Audit Notes: JPMorgan’s Whale, rent-a-quotes, shark videos
July 13, 2012 03:00 PMThis New York Times story on JPMorgan's regulators is not well edited, but it has some interesting reporting: At one point in the first quarter of this year, some of the examiners said that JPMorgan had simply stopped providing... Continue reading
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The Kicker last updated: Fri 3:00 PM
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