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American Morning
Minding Your Business: New Black Eye for Gray Lady
Aired July 14, 2003 - 07:44 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: New trouble for "The New York Times." Andy Serwer is back from a little vacation and minding our business this morning.
Hey, how are you? How was your vacation?
(CROSSTALK)
ANDY SERWER, "FORTUNE" MAGAZINE: I'm fine. My vacation was great.
O'BRIEN: Oh, wonderful.
SERWER: But now we are back running full steam here.
Really, a remarkable story in "The New York Times." I happened to catch the one from last week. This morning's "New York Times" has basically an incredible correction. They call it a "corrective article." Now, I've never heard of that term before.
O'BRIEN: And I've never seen one of these in "The New York Times" before, a full article...
SERWER: Right.
O'BRIEN: ... where they basically go through step by step of all of the errors in the article before.
SERWER: That's right. It concerned, Soledad, a record producer named Steven Gottlieb of TVT Records and a dispute he's having with Prudential Securities. It gets very bogged down, but basically it says that he would lose control of this company in this financial dispute. And there are all sorts of details about this guy, and basically none of them were true! I mean, it's just amazing what this reporter was up to here.
They're saying -- the article said he was litigious. Well, it turns out he's not particularly litigious. The date of his Harvard graduation, come on! That's journalist 101. You check the darn thing.
This is my favorite, the location of the office. It said in a recent interview in his Soho (ph) office, which is a neighborhood in Manhattan, it's not in Soho (ph). I mean, how did she know where she was? I don't even want to begin. The start-up costs, $250,000. No, it cost $125,000.
And, of course, this follows the Jayson Blair scandal. "The New York Times" does not need this black eye.
I saw Arthur Sulzberger, Jr. on C-Span the other day speaking to Hispanic -- a conference of Hispanic journalists, saying we print as many corrections as any newspaper. Well, gee, that may not be such a good thing, is it?
O'BRIEN: But truly, usually corrections are this big on the 99th page.
SERWER: Right.
O'BRIEN: I mean, this was a giant article where it sounded like they were taking the reporter to task for most of it.
SERWER: That's correct. I mean, they also had corrections in the correction page as well. But the whole corrective article, I mean, you know, it's just more trouble for the newspaper's name.
O'BRIEN: Yes, it's really unfortunate for them there.
Let's talk a little bit about the market. Do we have time for that?
SERWER: We do very quickly. Another great week, two weeks in a row. We're up. The Dow was up -- what do I got here -- 49 points. Nasdaq flying as well, and it looks like we're going to have a higher open this morning. Good news from Bank of America and Citigroup. So futures are up right now.
O'BRIEN: Excellent. Thanks so much.
SERWER: OK.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Aired July 14, 2003 - 07:44 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: New trouble for "The New York Times." Andy Serwer is back from a little vacation and minding our business this morning.
Hey, how are you? How was your vacation?
(CROSSTALK)
ANDY SERWER, "FORTUNE" MAGAZINE: I'm fine. My vacation was great.
O'BRIEN: Oh, wonderful.
SERWER: But now we are back running full steam here.
Really, a remarkable story in "The New York Times." I happened to catch the one from last week. This morning's "New York Times" has basically an incredible correction. They call it a "corrective article." Now, I've never heard of that term before.
O'BRIEN: And I've never seen one of these in "The New York Times" before, a full article...
SERWER: Right.
O'BRIEN: ... where they basically go through step by step of all of the errors in the article before.
SERWER: That's right. It concerned, Soledad, a record producer named Steven Gottlieb of TVT Records and a dispute he's having with Prudential Securities. It gets very bogged down, but basically it says that he would lose control of this company in this financial dispute. And there are all sorts of details about this guy, and basically none of them were true! I mean, it's just amazing what this reporter was up to here.
They're saying -- the article said he was litigious. Well, it turns out he's not particularly litigious. The date of his Harvard graduation, come on! That's journalist 101. You check the darn thing.
This is my favorite, the location of the office. It said in a recent interview in his Soho (ph) office, which is a neighborhood in Manhattan, it's not in Soho (ph). I mean, how did she know where she was? I don't even want to begin. The start-up costs, $250,000. No, it cost $125,000.
And, of course, this follows the Jayson Blair scandal. "The New York Times" does not need this black eye.
I saw Arthur Sulzberger, Jr. on C-Span the other day speaking to Hispanic -- a conference of Hispanic journalists, saying we print as many corrections as any newspaper. Well, gee, that may not be such a good thing, is it?
O'BRIEN: But truly, usually corrections are this big on the 99th page.
SERWER: Right.
O'BRIEN: I mean, this was a giant article where it sounded like they were taking the reporter to task for most of it.
SERWER: That's correct. I mean, they also had corrections in the correction page as well. But the whole corrective article, I mean, you know, it's just more trouble for the newspaper's name.
O'BRIEN: Yes, it's really unfortunate for them there.
Let's talk a little bit about the market. Do we have time for that?
SERWER: We do very quickly. Another great week, two weeks in a row. We're up. The Dow was up -- what do I got here -- 49 points. Nasdaq flying as well, and it looks like we're going to have a higher open this morning. Good news from Bank of America and Citigroup. So futures are up right now.
O'BRIEN: Excellent. Thanks so much.
SERWER: OK.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
