The trials and triumphs of corporate chieftains are daily blood sport here at CNBC. These days, CEOs seem to be on a winning streak.
Jamie Dimon, CEO and chairman of JPMorgan Chase, this week successfully fended off a shareholder attempt to change that title by splitting his roles.
Ever heard of the "unpublish"? It's a phenomenon peculiar to Internet journalism. It's basically taking down a story or video you've posted on your website. And we in the business are getting hit with requests to do it more and more.
In fact, we've gotten three unpublish requests within the last two months. They were all turned down. We're particularly sensitive to the sanctity of our public record, since so many business decisions are based on it.
My colleague Jim Cramer, host of Mad Money and stock commentator extraordinaire, gave a rocking speech to the Society of American Business Editors and Writers.
The speech praised a little and prodded a little. And it was well-received, despite the fact that Cramer isn't always the fave among more old-school business journalist types. I blame the soundboard.
So I thought I'd post it for general consumption as a tip of the hat to Mr. Cramer (and yes, to hype Sabew a bit, since I'm on the board). Now, he did ad lib a bit, so the draft below lacks the total feel. But you'll get the gist..........
It's a war every April Fools' Day.
From bacon mouth wash to glass bottom jets to Google shutting down YouTube, the forces of merriment try to trick the media into swallowing all sorts of bogus tales. That's what makes the holiday irksome for news management colonels like me. We have to remind our staffs to be particularly vigilant, or risk having to hang a very public "loser" sign around our necks.
UPDATE: The comments are fixed! Everyone enjoy, especially you, Mr. Clumpus. We appreciate your patience and sorry for the inconvenience.
We've gotten a fair amount of email lately asking us what the heck we did with the comments section on our stories.
In all the coverage of Carnival Cruise's Triumph-not episode, a recurring question comes up: Why didn't they offload the passengers?
Expert after expert has the same answer: It's dangerous. (Check out the video for an example)
You see a certain amount of incredulity about this answer, be it in the interviewer's eyes or the readers' comments. And you can understand the thinking to a certain extent…it's a boat on water. Pull another boat up, jump across, move on…what's so hard?
We, we've heard a lot about the "January Barometer" this past week. That's the notion that if the stock market finishes positive for the month of January, it will finish positive for the year as a whole. We certainly had a strong January. But let's not get carried away, folks. It's really the stock market's version of a groundhog's shadow.
People, and media, love predictors. They have cute names (great for headlines), simplify complicated situations, and add tension to what can be a sometimes dry and lengthy process.
Prepare for a lot more discussions in coming months about "dark pools." Thank goodness. Maybe it can shake off some of the Flash Crash funk still hanging around.
"Dark pool" is Wall Street slang for private stock trading platforms operated for the most part by brokerages.
They were started essentially to help institutions hide big buy and sell orders. On public exchanges, you see, savvy traders can spot an outfit trying to execute a big order and front run it … basically driving the offered stock price up or down in anticipation of the demand effect of the huge order.
But in a dark pool, identities and total order sizes are kept hidden until the trade is executed. So a large pension fund or mutual fund can make a major investment move without fear of trader-predators homing in and making the transaction more expensive. That's good for the customers of those funds, like retirees and retail investors.
It's time for my annual defense of our coverage of the business of pornography.
This is the time of year, you see, when the adult entertainment world holds its annual convention and awards show in Las Vegas. We cover the show and put together a package of stories detailing how the business has fared lately and what kind of changes it is facing.
Adult entertainment is a $14 billion industry. It also lies at the center of a lot of societal debate and technological innovation. That merits our coverage, despite the taboo nature of the subject matter. It's an argument I've made again and again.
Admittedly some industries are more taboo than others. But ignoring them doesn't make them any better or any worse. It just makes them less understood.
Well, we've finished installing our new content management system at CNBC.com and there were a few hiccups here and there unfortunately.
One notable flaw that readers should be aware of: The time stamps on our stories are showing earlier times than the actual publication time in some cases. This has to do with file creation and internal logging and all sorts of technical stuff that would make the ordinary reader's eyes glaze over.
Suffice it to say we know about it and are working on a fix. In the meantime where we find specific instances, we're going in and correcting it manually.
We had some other issues crop up, mostly to do with internal production. But if you see anything you miss or think we should be aware of, please drop us a note.