A blurb from each of the four sections of today’s Wall Street Journal.
“Website Alleged to Extort Millions from Companies,” Wall Street Journal, September 12, 2014 A9. This is a follow-up story on the 21st Century Herald website, which allegedly required companies doing IPOs to buy expensive advertising on the site or face bad news articles. Gosh, newspapers can do that? Maybe just in China. What’s information worth?
“Yahoo Faced Big U.S. Fines,” Wall Street Journal, September 12, 2014 B1. Next in the extortion parade, the US government wanted to fine Yahoo $250,00 a day for its refusal to turn over customer data in response to a secret proceeding, pre-Edward Snowden. Portions of the record is still sealed. Balancing constitutionally protected privacy rights versus national security – I guess my copy of the Constitution is missing that provision. Yahoo for Yahoo for not caving in.
“Top Trader Linked to Probe Gets New Job,” Wall Street Journal, September 12, 2014 C2. What does it say about the culture of his new employer when a trader fired in wake of the alleged shenanigans in the global currency markets is hired? His new employer did a lot of due diligence and talked with the investigators several times, and the employee hasn’t been convicted of anything yet. But what’s the impact on the other employees, and how limited is his new role? Would you want to be his manager?
I can normally use sports to make an information point. And how can one let the Ray Rice incident go unnoticed? “A New Twist in the NFL’s Ray Rice Probe,” Wall Street Journal, September 12, 2014 D9. [Who writes their headlines? Was this on purpose?] Following on the Watergate theme, what did you know and when did you know it? Did the NFL big shots see the full video before deciding on a two-game suspension? If so, end of story for them. If not, why not? What do your senior executives not see before they decide something? Did they make reasonable inquiries? Did some low-level employee receive the full copy and decide not to share it with the top brass? Why? How many papers will these stories sell?