CNBC -- critique. Message Board

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Pastimes : CNBC -- critique.

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To: Thomas G. Busillo who wrote (2025)	12/4/1998 10:32:00 PM
From: Sandy	Read Replies (1) of 17683

Why do some companies prohibit Faber from listening to their conference calls? CNBC should bar these companies from appearing on the network to plug their wares. I have no problem with any group conducting a conference and admitting whomever it wishes. However, when an officer of a public company goes outside the corporation and puts out information relevant to the performance of the company, that information belongs first and foremost to the shareholders. We've lost that principle, haven't we? In fact, it sounds rather naive to suggest a mere shareholder should be the first to know if a quarter is going to blow up. Sometimes, you're even expected to pay someone who was allowed to attend for a report of what your company's CEO said. I have given no power of attorney to any analyst, investment banker, or money manager to attend meetings or listen to conference calls on my behalf and later give me "guidance". Any company-analyst privilege that exists is wrong. I think a company official owes a duty to shareholders to make sure the press is not excluded. You can either put it on Broadcast.com or let guys like Faber in and he can tell me what was said right now. Not later on after the privileged few have departed.

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