Thank you for sharing the information you received from Jennifer at WAVO IR, Gary. Before you, I, or anyone gets to excited, however, let's look at this from the perspective of CNBC (and Cramer). You write:
[quote begin]
Jennifer Schreiner at IR said it is
their intent to "restore shareholder value" to where it was before Cramers
remarks...says they are taking the high road, with a professional but firm posture
and that CNBC is cooperating...this GUARANTEES positive coverage
[quote end]
This does not necessarily "guarantee positive coverage" tomorrow. Actually, I would expect a wishy-washy statement on the part of Cramer or someone else affiliated with CNBC. Whatever is said, it has to be carefully worded so it does not totally conflict with what was said today. Anything said has to be carefully weighed so that someone--WAVO, investors who acted on Cramer's flippant comment, etc.--does not slap CNBC with a legal case.
Basically, all the writers [in deep conference with their lawyers] have to do is come up with some statement which basically says, "Hey, Cramer's comments were taken wrong." Whatever is said, I doubt if it will fully retract (or confirm) what was said today.
In terms of CNBC [potentially] addressing Cramer's term "fraud-net," this can be handled by some apology. Basically, a verb blunder while attempting to make a cutsie remark about a company Cramer, _for_his_own_ reasons does not like.
Tomorrow should be interesting, but I do not think we should get too excited about CNBC getting on its knees and asking forgiveness about having one of its employees make a slanderous comment about what they now know is a supurb company. This just won't happen. Also, regaining ground in share price won't happen as a knee-jerk reaction after whatever is said.
Lynn |
