Thursday, June 25, 2009

Commentary: How the 'major' media gets it wrong" Fortune Magazine 4/27/09 issue

Howdy all.

I spend my Saturdays, doing nothing, deliberately. It's my Sabbath, my day of rest, and besides going to services, I essentially do nothing except read, discuss the occasional political topic, and read.

Now, I SHOULD read torah commentary, but I'm not perfect.

So, I read other stuff, including the "New Yorker", Fortune, the "Atlantic", "Fast Company", and a whole slew of computer magazines.

So I decided that I would start by reviewing some of the more interesting stuff I read.

Here goes, in no particular order:

Victim # 1: Fortune Magazine, an AOL-Time Warner (Time Inc.) Publication.
General impression:
Fortune's sales staff is very busy, with at (usually) least one, and often two dedicated advertising supplements in each issue (interestingly enough, this issue has none.., so I am lying...)

update 4-30-09 -- I was mad, at not seeing the sales generated pages adding to the value (thickness) of my magazine UNTIL I saw the next issue-- the Fortune 500 issue with ad supplements on Corporate airplanes, and 4 other special supplements. A-HA!

This issue: Cover 'Warren Buffet's Electric Car', (green, and made in china)

A general discussion of this magazine would have to talk about how often this magazine seems to be a "Rah, Rah, Rah, Sis boom bah" booster of Wall Street, and big business.

In reading the magazine in the past 3 years, All I can say is that either the lead time is 9-12 months ahead of the market, or simply that the editorial staff is totally out of touch with reality.

In making a observation as pointed as this, I can point to a number of issues over the past several years, that touted real estate AFTER the market started tanking, STOCKS, as being a good buy, because the bull market was so steady, and generally, that the sub-prime mortgage crisis was totally over, and the banks would be fine.

In my crystal ball, (if you actually read this blog, you'd know that I think that we're in for a huge (75%) drop after the consumer credit market crashes.

One other complaint about this magazine.
Editorially, the magazine does not understand that
a) the voice of the press could be critical, and should try and be unified.
b) when different departments/writers 'snipe' at each other in the same issue, it becomes very difficult to understand the 'tone' of the magazine.

Example of this:
This issue, Page 31, the Investing column, Titled, "Time to bet on Oil Again"

This issue discusses AUTOMOBILES, and the future of the car, as well as electric cars. Is THIS really the issue to discuss how to drive oil prices higher?

I interrupt this Criticism for another criticism

I couldn't wait for Saturday to read the next issue (dated May 11, 2009), with a
interesting article on Bernie Madoff and how he did it.

In this issue:
A ode to Gun Manufacturers
A Businessman's guide to Congress
An ode to the 6 craziest fans of products
A supposed investigative article on Bernie Madoff


Oh heavens


I understand... I really do...

This must actually be the April 1st (fool's) Issue of Fortune for this year.


I'm really glad my subscription label says it expires in May 09.

I don't think I could deal with receiving another year of this hysterical magazine.




End of MY criticism of Fortune, their total, 'not getting it-ness', and general frustration!
but I do love Stanley Bing, and always have.

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