This Journal story on Nomura Holdings upping its U.S. presence is a bit off.
First of all there’s the headline:
Hiring Spree at Nomura: 135 in U.S.
Sure, it’s great that anybody’s hiring in this economy, but it seems like “spree” is a bit much for 135 jobs. Down in the actual story we find that the net headcount is even less—about 100. Second of all, does this story deserve the prominent display, above the fold on C1?
It certainly would be if Nomura is luring bankers away from U.S. banks because they’re hobbled or, more interestingly, if they don’t want to be subject to the pay restrictions that come with some of the bailout funds.
But the Journal gives readers none of that. Of course, the paper gave the story just 368 words because it has to have some stories that don’t jump inside. You try packing much context into a tiny space like that.
The way the story is handled effectively signals to readers that the Journal doesn’t have the space to really explain it to them but trust them, this story is important.
That doesn’t cut it.
Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR’s business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu. Follow him on Twitter at @ryanchittum.