Shocking Truth About Tabloids and Trading

A big story in Thursday's paper provided yet another good example.

Here was a five-column, top-of-the-page headline on A8: "China Shuts 180 Food Plants in Safety Push." Systematic problems, we are told in the subheadline, are acknowledged by the government. We are told about a nationwide sweep, tons of unqualified food and a lack of national standards. But we are not told the only thing that matters, the one number someone with any basic sense of them needs to know ... how many food plants are in China?

Perhaps the Journal reporters who worked from home to protest Rupert's impending purchase missed a callback. But if there are 1,000 plants in China, then this is truly a nationwide sweep. If there are 1,000,000 plants in this vast country -- then this looks like a hollow gesture, not evidence of any emerging national problem or standard.

Heed the Oracle?

Finally, The Business Press Maven has gone against two of his own ancient foundations of thought in perhaps my worst call ever, so far. I never go against one of the few geniuses in American business -- Larry Ellison. And I never compound a mistake by holding to my opinion, despite the numbers. Let's see how this one plays out, though, because I still feel that Oracle's (ORCL Quote) acquisition binge (a word that if oft-used but does not capture its scale) will be hard to integrate, organize and manage. The business media portrays Ellison as able to walk across the water he famously sails across, but let's wait and see. ...