Mark Cuban has come out swinging in defense of the maverick journalism website Sharesleuth. The wealthy entrepreneur came under fire when he announced he was not only sponsoring the site, which takes aim at corrupt business practices and mismanaged companies, but planned to make investment decisions based upon the as-yet-unpublished investigations of its reporter, veteran journalist Christopher Carey. Although this breaks with the traditional rules applicable to many business journalists—who are often prohibited from trading in any stocks they right about and sometimes from trading in any individual equities at all—Cuban argues that his way of doing things is no less damaging to Sharesleuth’s credibility than relying on corporate advertisers or pandering for increased audience share.
He also takes a shot at an unnamed former Business Week writer, who we can only assume is Gary Weiss, author of Wall Street Versus America:
One former BusinessWeek reporter suggests in his blog what I am doing with Sharesleuth is not responsible journalism because I am trying to make a profit by trading on the information that we uncover. All the while, he promotes his site to draw readers, possibly chooses blog posts that will generate the most readership and promotes his TV appearances as a means to pimp his books , which are for sale with HUGE graphics on every page of his blog.
There is absolutely nothing wrong with that. Nothing at all. The news, his news has to get paid for somehow, right? But is he a responsible journalist ? Is he a responsible publisher ? Do we even know ?
Doesnt the foundation of responsible journalism come from transparency ?
Tell us what the goals of your publication are so we can understand your motivation and use it as a filter when we read your blog. your newspaper. Watch your network.
Of course if he did that, he would be alone in the publishing universe.
Responsible Journalism [Blog Maverick]