To: N. David Lessani who wrote (3498 ) 6/22/1998 1:38:00 AM From: Lazlo Pierce Respond to of 4903
N David, Here's part of a piece Cramer wrote a few weeks ago but this matter. ****************** Wrong! Rear Echelon Revelations: Cramer Explains His Relationship with TSC By James J. Cramer 5/25/98 12:15 AM ET Wow, it happened. That's all I could think. Someone called me the other day, urging me to kill a nasty piece that was to appear in TheStreet.com. Hoo-hah, had to happen someday, given the visibility I have with TheStreet.com. I know the individual who called will never, ever believe this, but I have about as much clout with the editor-in-chief about what goes into our cybermag as my mother has. I picked my beloved mom, who passed away 13 years ago, to make this clear, because nobody, from saints and Samaritans to war criminals and wackos, ever invokes his mom in vain. Even Nixon pronounced his mother a saint in his farewell Aug. 8, 1974, speech before departing the White House. You just don't bring out this stuff idly. Out of respect to the complaining individual's wishes -- not one bit more -- I called Dave Kansas, the editor-in-chief of TheStreet.com, and relayed that this individual desired the story to be killed because of alleged inaccuracies. Dave said "thanks," and hung up. No more. He did not ask me what he should do. He did not try to figure out what Cramer really wanted. He just acknowledged the call and rung off. And the story ran within the hour. As I knew it would if Dave thought the story was truthful, accurate and valuable to the reader. Because Dave Kansas, not Jim Cramer, calls the shots in editorial. Jim Cramer only calls the shots in his column, as it should be. I can't do jack about what appears everywhere else on the site. I can no more order up a story in TheStreet.com or get one killed than I can make a story appear in The Wall Street Journal. No, check that, I think I have a better chance of getting a story idea in the Journal. Journal reporters call me all of the time. They want to know what I am seeing and hearing. Hey, that's their job. In a bizarre twist of helping competitors, I tell them stuff all of the time that I could never, ever tell Dave Kansas or anyone else at TheStreet.com. I just don't go there. TheStreet.com reporters can't make that kind of call to me or to my staff. We all took pledges at the beginning of this thing, and I gave my word to the government, that they wouldn't and they haven't. I have met most of TheStreet.com's staff through the Xmas party we held at year-end, and through my five visits to the newsroom in the last year, two of which were to show my wife around, and the others were to see if anyone was doing customer service, because I couldn't get onto the site. That's the extent of my contact, however, and everybody who works at Cramer Berkowitz, which is located across town from TheStreet.com, and the folks at TheStreet.com understand that's the way it has to be. I don't think I could tell Dan Colarusso from Gregg Wirth in a lineup. Which one of those guys is George Mannes, I asked Dave the last time I was there. Dave ignored me, ushering me to the exits. Hey, I just wanted to shake the guy's hand so as not to be rude. I don't know if I have ever met Gail Griffin, who edits my copy each morning. Pretty weird. But I know we will have no credibility otherwise. The last 10 hires? I have no idea who they are. Won't know the next 10 either....... (more)archive.thestreet.com Dave If you think about it, the amount of money that MIGHT be made off of thestreet.com is such that he'd be a fool to use it to make money for his hedge fund, and risk the possibility of losing Everything . And he may be lots of things, but stupid ain't one of them. Dave