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Kass: CNBC and Me

In the email I also suggested that a deeper dive and analysis of the possible impact of the two purchases should have been adopted by CNBC and that the excitement should be put into the proper perspective. (I believe, at the time, Lee separately communicated the limited consequences and importance of Omega's modest purchase directly to Scott as well.)

The New York Post only quoted my email to Scott (which wasn't meant to be made public and without my permission) and suggested my criticism was aimed only at CNBC, which was not accurate. (Again, I had sent similar emails about the coverage of the Apple story to Bloomberg and Fox Business Network.)

While the New York Post column centered on the personal email, the thrust of my criticism is that, too often, all of the business media slides into hyperbole and sometimes superficial reporting that has a sensationalistic title but fails to put the events in the proper perspective.

To be fair, the reporter closed her story with a quote that I had sent her in an email, but the damage had already been done with the over-the-top title of the column and the release of the aforementioned personal email:

My criticism is of the entire media business. The reason I point this out is because the small investor piles in when Apple is up 10 percent. It's caveat emptor, but the poor lemmings pay top dollar....

The job [of the business media] is not to regurgitate the headline, but to provide additional information to the retailer. These activists have learned how to basically manipulate the news purveyors and it's a very dangerous thing. It's good for people's careers and you all do it to gain favor without thinking about it. This is a very important story.

-- Doug Kass, "CNBC Cheerleaders" by Claire Atkinson (New York Post; Aug. 18, 2013)

The day the New York Post article was published, I emailed the reporter and emphasized, again (because I had sent her a previous email before the article was published and spoke to her on the phone), that my criticism was aimed at general business media reporting and not directly to CNBC.

But by that time it was too late as the column was already published.

Upon reflection, I suppose, it was the New York Post being the New York Post.

But, with the benefit of hindsight, I wish I had not even spoken to them. Since someone at CNBC sent the New York Post reporter a personal email I had sent to Scott Wapner, I wanted to clarify my general criticism of the media. That clarification was to no avail, however, as one can see from the printed New York Post story.

Again, it should be emphasized that the New York Post has had a history of writing critical, overblown and embellished columns about CNBC. Remember Rupert Murdoch's News Corporation (NWSA) founded CNBC competitor Fox Business Network and owns the New York Post -- Twenty-First Century Fox (FOX) was spun off from News Corporation in 2013, but both companies are still Murdoch controlled.

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