(Editor's note: To access some of these stories, registration or a subscription may be required. Please check the individual links for the site's policy.)If you think Wall Street loves layoff announcements, take a look at how the business media greet them. It is an ultimate irony that reporters -- busy whining in their own newsrooms about how the product they produce will break bad if a single hair-care-product columnist is laid off -- do so little critical thinking about layoffs at other companies. There's never a sense that announced cuts often don't materialize ... or do, but at a higher cost, as buyout packages have to be sweetened to find takers. Worst of all (see, uh, that hair-care columnist), there is never a sense (so vital to the well-being of investors) that cuts have potential costs. That brings us to Business Week -- no stranger to layoffs -- and its
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Get to the SourceFinally, what would happen if some French newsletter you've never heard of published an unsourced story on a potential merger? If you were a modern news outlet like Reuters, you'd pick up that deflated ball of a story and
PARIS/LONDON (Reuters) -- Sanofi-Aventis and Bristol-Myers Squibb Co. could announce a friendly merger deal within the next few weeks to create the world's biggest drugs company, according to a report on Monday. In an unsourced story, French financial newsletter La Lettre de l'Expansion said a pre-merger deal was thought to have been signed last week.For all I know, it could have been. But one newsletter plus no sources does not equal a story, in The Business Press Maven's divine book. Beware.