Savings Experiment: Snow Removal
The Money Man Behind Rick Santorum: Who Is Foster S. Friess?A big change has come
in the way we receive financial news from Google (GOOG). The company recently announced that it was doing away with financial newswire releases, in favor of distributing company financial news through its own website(s). Google spokesperson Jane Penner stated it this way: "We felt it made a lot of sense, given that we're a technology company and that we announce virtually all of our company news on our blogs."
The change is almost insignificant, really, when we consider that Google is a glass-walled corporation anyway. What news happens at Google comes out of Google and gets splattered every which way. There's almost no escaping it.
My question is, will this move by Google, and several other mainstream companies, pave the way for a mass exodus from financial newswire services? Will investors be required to diligently and independently seek out the financial details of their favorite companies? Well, in truth, they should be doing that anyway, regardless of from where the news might issue.
My suggestion to investors is simple. They should be reviewing the websites of their portfolio companies on a weekly, if not daily, basis. Things are moving too rapidly these days to have it any other way.
I suspect that newswire services will continue to do business as usual, although some of them might begin to enlist more help from freelance writers in gathering and presenting the financial news of the day. Of course, investors should also keep a stable of quality investment news sites at the ready, to which they may refer for timely updates and insightful analysis of financial news events.
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