A Lesson in Modern Journalism

Recently I wrote my column for RenewAmerica.com on "Barack Obama and the Racism Charge." Often my column gets picked up by other publications, which I am always delighted to see happen. The more sites it is found, the bigger the reach. With that, I should be thrilled about how well this most recent article was received in light of the many sites it was found. This time I was on the Discovery Channel, USA Today, the Boston Globe, and even the Wall Street Journal. The quotes they chose to highlight, on the other hand, has weakened my enthusiasm. The article was several hundred hundred words, but the syndicate only showcased three quotes:

"Moderation, contemplation, reasoned discourse and a bipartisanship spirit have been banished from the GOP. The birthers, tea baggers, Palin nuts and demented pundits like Rush Limbaugh, Sean Hannity and Beck are now in control of the Republican Party."

"Beck's claims are so crazy that I feel silly refuting them. Obama with his multi-cultural background, and his inclusive and open administration, is the very symbol of racial harmony."

"Glenn Beck's inability to hide the fact that he is an utter moron explodes into the open once more on Fox News when he, without bringing forward a single example, decides that Barack Obama is a racist."

To read these above quotes, the only ones out of the entire article that were displayed in large print, you would have to conclude I hate Beck and love Obama. If you read the article in its entirety, something that the page does, at least, encourages you to do, you will see a different picture:

• I am critical of these quotes above and those of other left wing bloggers.



• I actually cite evidence that supports Beck's claims, including Obama's appointment of Sotomayor, his treatment of the white side of his family in his biography and other sources, and the President's rush to judgement when it came to the incident with his friend Professor Gates in Boston.

The distribution of this article demonstrates one of the many problems going on in journalism today. The quotes from were likely pulled by a writer who doesn't know what journalistic integrity means. On the one hand, I'm delighted to get exposure on several major news websites. On the other hand, being projected as a liberal extremist is more than a little disconcerting.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. His articles often appear in Chicago Sun Times, Reuters, USA Today, and other national media. Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

New York Times is Worth How Much?

The New York Times, which is really a national newspaper with a comparable circulation to USA Today, has been reported to have a remarkably low value, according to Business Week. How low did the New York Times go? On Wall Street, its trading value has plummeted to half of what it enjoyed from just a year ago to $12.48 per share. That means it only has a market cap of less than $1.8 billion.

Business Week states, to "put this in perspective, CBS recently acquired tech publisher CNET, a much weaker media brand, for $1.8 billion. Add in the company's $1.1 billion of debt, subtract $42 million for its cash on hand, and the company's total enterprise value—a valuation measure that totals up those items in such a fashion—is just $2.85 billion."

Newspapers are taking a beating every where. In 1993 the Boston Globe sold for over $1 billion. Last year it was being marketed for around half that ($500 to $600 million). Most newspapers have faced a crushing blow because of the Internet and the rise of the new media. The Wall Street Journal, which was sold by the Bancroft family to Rupert Murdoch's News Corp for $5 billion (roughly twice its value on the stock market) is a happy exception to what is going on in old media. The fact the Bancroft family -- which seemed very connected to its publication -- sold it at all, demonstrates how concerned they were about the future of their holding.

Increasingly newspapers are trying to make the shift to the web as their primary media vehicle. New York Times has even gone so far to say that it could be exclusively online in a few years. Unfortunately, many newer companies are well ahead of them in this game and brand loyalty simply isn't what it use to be. The only newspapers that have enjoyed an increase in advertising dollars in recent years are those that are free. Be the writing in the newspaper or on the Internet, the writing on the wall isn't very positive for many of the strongest names in print media.

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Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.