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To: Broken_Clock who wrote (336625)	6/12/2007 5:02:51 PM
From: maceng2	Respond to of 436258

Ah, I think I found the problem... theaustralian.news.com.au -lol- too funny -g- /edit.. here is the text if you can't get it later. ========================================================== Dow 'needs Murdoch's optimism' David Nason, New York correspondent June 13, 2007 ONE of Rupert Murdoch's biggest supporters among the Wall Street commentariat - CNBC Mad Money host Jim Cramer - has suggested that The Wall Street Journal's editorial floor would benefit from some targeted interference from the News Corporation chief. Mr Cramer, who once operated a hedge fund that held a 4 per cent stake in Dow Jones, said Journal reporters were too often negative about the US economy and could do with an injection of Murdoch optimism. And he said the 77-year-old media mogul was "ga-ga" over the political clout of the Journal's editorial page. "There's the main reason why I think Murdoch wants the Journal: he loves the editorial page," Mr Cramer wrote in the latest edition of New York magazine. "In fact, he's ga-ga over it. That was one reason he gave me back in 1996 (when he reportedly told Cramer he would like to bid for Dow Jones), and that's one reason why he wants it now. I think he would like to elect a president, (Citizen) Kane style, with it." Mr Cramer's comments came on a day when Dow Jones confirmed that advertising revenue at the Journal had fallen 3.4 per cent in May. Advertising volumes were down 7.3 per cent due to lower technology, general and classified advertising, the company said. Technology was a particular weak spot, with ad volumes plunging 30.5 per cent from a year earlier. But in what could be a significant indicator of the future, international advertising revenue surged 47.4 per cent, driven by gains in financial and general advertising at the Journal's European and Asian editions. Writing yesterday on his website thestreet.com, Mr Cramer said Mr Murdoch's philosophy was to "present opportunities to people", as opposed to Journal journalists and headline writers, who too often took a negative view of events in the marketplace. "Is Murdoch going to meddle in the news? Well, maybe the news needs meddling," he said. "I think a Murdoch-led paper would be an opportunity-driven paper, (it) would change the colouration of the paper. "The news might favour a more opportunistic, less faux pessimism way. By that I mean the pessimism isn't based on anything. Murdoch would have an upward bias." Mr Cramer said he expected Mr Murdoch would eventually succeed in his bid for Dow Jones because the economics of the news business had become so bad that "any protestations about journalistic integrity seem hollow". "There's no faster way to compromise the journalism than to run out of money," he said. "The Dow Jones stock price would be cut by two-thirds if Murdoch walked away. The stock resided in the 30s, not the 20s, before the bid because there was always the hope of a takeover. You reject Murdoch, you reject any bid for all time."