Financial journalism

Accord­ing to Har­vard Busi­ness School pro­fessor Greg Miller, fin­an­cial journ­al­ists uncover nearly a third of major account­ing scan­dals. He presents this as pos­it­ive evid­ence of the busi­ness media’s ‘watch­dog’ role. In the course of an inter­view with Harvard’s Work­ing Know­ledge he also passes on this nug­get:

There’s always going to be someone in the press look­ing to put out neg­at­ive spin.

Neg­at­ive spin, eh? Like ‘Busi­ness journ­al­ism fails to uncover 70% of major fin­an­cial scandals.’

You can read his whole paper here, and cyn­icism aside, it’s actu­ally quite interesting.

Backbiting

I love a good journ­al­ism spat as much as the next gawp­ing bystander. Here’s one in the Israeli media fea­tur­ing colum­nist Nahum Barnea. It takes a while to get into its stride, but this is how it ends:

Much can be said about journ­al­ism: about its shal­low­ness, about the fact that it often provides free pub­li­city for media advisers and pub­lic rela­tions agents, about its over-reliance on leaks from the police, but very few journ­al­ists have been con­victed on cor­rup­tion charges. Even though any­one can be a journ­al­ist — and this is a basic prin­ciple of a pro­fes­sion that is designed to ensure free­dom of expres­sion — very few pro­fes­sions have a nat­ural selec­tion pro­cess that is as effect­ive. Any­one can begin to be a journ­al­ist, but few remain. Above every reporter is an editor, above every editor is another editor, and this pro­fes­sional hier­archy quite suc­cess­fully weeds out the pos­eurs and the slack­ers and the liars and the ones who are cor­rupt. That is how it usu­ally works, until a journ­al­ist attains such a senior and respec­ted status, truly a guru in his own eyes and in the eyes of those around him, that no editor dares tell him when he has writ­ten a column that is an embar­rass­ment to him­self and his profession.

That is how it hap­pens that pieces, writ­ten by people whom edit­ors trust but which should never have been pub­lished, get into the news­pa­per and spe­cific­ally onto the respec­ted op-ed pages. That is what happened last week to Nahum Barnea.

A good Pan­or­ama from Shel­ley Jofre, revis­it­ing past suc­cesses, before another Tonight spe­cial next week — Should We Fight Back? (Clue — they’re not talk­ing about cur­rent affair view­ers or ITV copy­right lawyers).

Should the Beeb have des­troyed the Pan­or­ama brand? With new staffers from Tonight they have cre­ated a pop­u­lar copy of er … Tonight. But why didn’t they do that under the Real Story label? After all when Tonight came along ITV dropped World in Action