Gasparino: Jack Welch Warned Me About Doing Market Moving Stories

Discussion in 'Wall St. News' started by Tauvros, Dec 29, 2010.

  1. Tauvros

    Tauvros

    Monday, December 27, 2010
    Gasparino: Jack Welch Warned Me About Doing Market Moving Stories, "You Are Going to Get Your Brains Blown Out"

    It doesn't get much clearer than this, for those of you who don't think corporate execs don't influence reporting at mainstream media.

    In an interview on benzinga.com, Charlie Gasparino, who used to work at CNBC, said that Jack Welch, who was Chairman of GE when they owned 100% of CNBC, told him not to do market moving stories Gasaprino said:
    Jack Welch told me you do not want to do that. You really don't want to move the markets like that because one of these days you are going to get your brains blown out. And I took that to heart.
    It seems that Gasparino takes the message from Welch to somehow just mean it's a very dangerous thing to do and doesn't catch the nuance that Welch is attempting to muffle him. But what the hell is a corporate exec, one of the most powerful corporate execs in the world, doing telling a reporter not to break market moving stories?

    The clip is here, Gasparino mentioning the warning is at roughly the five minute mark:


    http://www.economicpolicyjournal.com/2010/12/gasparino-jack-welch-warned-me-against.html
     
  2. cstfx

    cstfx

    Only problem with that is that Welch left GE in 2001 and Gasparino didn't join CNBC until 2003/2004.
     
  3. Good comment from another forum:
    "BOHICA 02:09 AM on 4/18/2008
    9 Fans
    Not for nothing was Jack Welch known as Neutron Jack during his time as Chairman of GE. Made the people vanish, left the buildings standing. I will say this much for him (as a long-time stockholder) when Jack was at the helm of the ship, my stock hovered around $50 a share, split regularly and paid handsome dividends.

    Too bad the little bastard handed over the reigns of the company to his successor just 4 days prior to 9/11. Talk about timing! Talk about luck o' the Irish!"
     
  4. I think the book "Confessions of an economic hitman" had a mention of Welch saying he got the director of a major gov't in an emerging Market economy fired because he choose a product not supplied by GE. The author contends thats its an Ole boys club and GE is up near the top of that food chain.
     
  5. Gasparino is a gas bag. fos.
     
  6. he doesnt say Welsh was AT GE when he told him that.

    dweebs
     
  7. NoDoji

    NoDoji

    There is no "liberal media" and no "conservative media", it's all corporate-owned media. And they control what the masses are fed. It's all done quite cleverly, and is far more powerful than a single government-controlled media outlet. At least if there's a single government-controlled media outlet pumping propaganda into your brain 24/7, you might suspect it's propaganda. But when your belief systems are shaped and controlled 24/7 via the representation of free press and other Constitutional freedoms, and via the representation of democracy, the resulting brainwashing is far more effective and frighteningly insidious.

    Read Noam Chomsky, and practice questioning your strongest beliefs. Take the other side of your strongest beliefs and form arguments against them. It's aerobics for the brain, and may give you a glimpse of what freedom and democracy could actually be like.
     
  8. He's Welsh?
     
  9. yep
    [​IMG]
     
  10. cstfx

    cstfx

    Then he was not in a corporate position of influence that the author infers.

    "But what the hell is a corporate exec, one of the most powerful corporate execs in the world, doing telling a reporter not to break market moving stories?"
     
    #10     Dec 30, 2010