Maybe We Could Just Forget About The Entire Thing?


You know. That whole Circuit City fiasco. Ok, sorry, fiasco is a bit, impolitic. How about, indiscretion?
If nothing else, we can use the entire event as a brief study on financial journalism. Consider this passage from Reuters on recent events:

Circuit City shares, which now trade for less than $1, rose 50 percent in early activity. Best Buy Co, which has said it could view store closures by rivals as an expansion opportunity, rose 7 percent.

Far be it from Reuters to permit even a moment's hope by allowing someone to put the 50% jump early in the paragraph. No, no. Not here. Hopes are immediately dashed with the "less than $1" clause before the percentage gain is disclosed and, even then, the entire thing is wrapped up with the discrediting "in early activity." Capping the entire 'graph off with a rival's shrewd, opportunistic move really drives one of the last nails in. Don't you think?
Don't hang around financial journalists when there is blood in the water.
Circuit City closing 155 stores, seeking options [Reuters]