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Pastimes : CNBC -- critique. -- Ignore unavailable to you. Want to Upgrade?

To: Yogizuna who wrote (12848)	1/14/2004 1:31:42 PM
From: Ron	Read Replies (1) \| Respond to of 17683

CNBC Sinks to New Low Why the business channel CNBC (a unit of General Electric) would welcome back a discredited analyst like Henry Blodgett to tout his new job as a reporter for an online magazine is hard to understand - but sure enough, earlier this week CNBC's Maria Bartiromo welcomed back (with open arms) the former Wall Street analyst. Remember, this is the same guy (the former Merrill Lynch analyst) who misled investors in one of the biggest investment frauds this decade. He eventually weaseled a settlement with New York's Attorney General, neither admitting guilt nor wrong doing. But apparently Mr. Blodgett has been hired by the online magazine, Slate, to provide coverage of the insider trading case against, no other than Martha Stewart. Imagine that, Henry Blodgett covering an insider trading and obstruction of justice case. Well - at least he's got experience. Now we don't condone what Martha may have done, but enough of this story, please don't shove this one down our throat. But more importantly, why would CNBC provide a 'credible' platform or setting to interview this guy? There is no reason to suggest that the former discredited and crooked Wall St. analyst can help the individual investor (or any investor for that matter) become a better or more informed market participant. Somebody over at CNBC or GE needs to re-evaluate who made this call or decision. But lets ask you (the viewer) why would CNBC allow this to happen? Why would CNBC try to resurrect a well-known, discredited former Wall St. analyst who clearly misled the public (worse yet, right on their own network) even pitch his new wares? Here's our take. 1). CNBC is desperate for ratings, 2). CNBC owes Mr. Blodgett a favor (see back in the year 2000, they had him on almost weekly to tout worthless Internet stocks). 3). It was just a poor programming decision by the shows producer. 4). CNBC and MSN have a large joint-marketing relationship dating back to the mid 90's (Slate is owned by MSN and if you go to CNBC.com's website, you are directed to MSN), so somebody at MSN said, 'get this guy on TV', and 'voila' he's on. But there's nothing worse then listening to a reporter interview another reporter (it's bad TV and very self promoting). But doesn't CNBC understand that this guy (Henry Blodgett) hurt their own reputation, he hurt Maria Bartiromo's reputation, he hurt them all. You can decide which of the four it is, but if you continue to listen to this ‘bunk’ don’t come crying the next time your portfolio is down 40%. Burned once, call me naive, misled, or cheated. Burned twice, just call me stupid. --- And of course, let's not forget MSNBC www.earningsbase.com