Maria Bartiromo's complaints delayed Citigroup story

Posted Feb 12th 2007 8:12AM by Jonathan Berr
Filed under: Other Issues, Bad News, General Electric (GE), Employees, Scandals, Columns, Citigroup Inc. (C), News Corp'B' (NWS)

The embarrassing revelations about CNBC anchor Maria Bartiromo continue.

When CNBC's on-air editor Charles Gasparino learned that Citigroup Inc. (NYSE:C) executive Todd Thomson's job was in jeopardy because of his relationship with Bartiromo, the money honey complained to her boss "that her name was being dragged into the matter," according to the New York Times. CNBC never reported on the threat to Thomson's job, which the Times says Gasparino heard about from top Citigroup managers.

CNBC's Jonathan Wald denies kowtowing to Bartiromo and told the paper that the network didn't run with Gasparino's story because it wasn't adequately sourced and it wouldn't have passed muster with the network's lawyers. I find that hard to believe.

Gasparino, who has been nominated for the Pulitzer Prize, isn't reckless. I can't remember an instance of him reporting something based on anonymous sources that hasn't panned out. There's nothing worse that management can do to a journalist than to block them from reporting a story that a competitor later breaks. You can bet that News Corp. (NYSE:NWS) executives are going to recruit Gasparino for Fox Business News if they haven't already.

Bartiromo showed incredibly poor judgment in her relationship with Thomson. CNBC would have fired or at the minimum disciplined any other journalist who got so closely entangled with one of their sources. But the Money Honey is different.

Jeffrey Immelt, the chief executive of CNBC's corporate parent General Electric Co. (NYSE:GE), has stood by Bartiromo. Wall Street loves her and probably will continue to do so. Gasparino, though, is far more deserving of the adulation.

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Reader Comments (Page 1 of 1)

2-12-2007 @ 9:29AM

Jim said...

Charlie Gasparino is a straight shooter and a class act. He has forgotten more about Wall Street than Maria Bartiromo knows. If she were a man, or even an unattractive woman, she would have been disciplined, if not fired. Because she is a hot property and easy on the eyes, she skates by with a slap on the wrist. CNBC is not unsual. In my experience, this is the way of the world.

2-12-2007 @ 9:28AM

John said...

Ms. Bartiromo may seem like the embodiment of professional journalism, but since the late 1990s, it has been clear to me that she doesn't so much break stories as allow herself to be manipulated by her sources. Even good ol' Jim Cramer knows this. When he was a regular guest on Squawk Box in 2000-2003, he used to comment on the "Bartiromo Call", dismissing them as old news or manipulated news unworthy of mention unless you planned to short the stock. Ironically now, the same is true with most of his own recommendations.

The viewing public may be, for the most part, stupid. But give some of us credit. Bartiromo's close relationship with Thompson was well-known in New York City. Surprisingly, the one person we have not heard from is Steinberg. How about it New York Times? Do you have the guts to go to the real source?

2-12-2007 @ 9:36AM

irv kay said...

Maria should be fired She is too impressed with herself I do not enjoy watching her Especially now that we no she is dishonest

2-12-2007 @ 9:45PM

irv kay said...

Maria should be fired She is too impressed with herself I do not enjoy watching her Especially now that we no she is dishonest

2-13-2007 @ 7:21AM

Sylvia said...

I've always like Charles Gasparino's reporting style. He comes across professional and credible, someone knowledgeable about financial matters.

In fact I just got done with his book "Blood on the Street" and thought it was interesting and well written.

I've never particularly cared for Bartiromo's demeanor.