This post got me to thinking about how easy it is for the press to misunderstand something a business person relates to them.
I'm not sure why these "misquotes" for lack of a better term continue to happen. I'm sure the newspapers/reporters do not do these things intentionally.
Sometimes it could be as a result of a misunderstanding. Maybe people in the business speak in their own "jargon" and the nuances are not understood?
Take the confusion surrounding the lowering of the prime rate. It's confusing to borrowers when they read things like they can bring their arrears currect simply because the rate is lowered. And then when go into the bank or mortgage companies expecting huge savings from a .75% reduction in borrowing rates, their hopes are not met with reality. Businesses, or banks in this case, are then said to be less than scrupulous.
I'm told that when business people answer questions from the press we should do it in writing. That way the intent cannot be conveyed incorrectly.
In any event, it's time for businesses to defend themselves when these issues arise.
Generally speaking reporters are just trying to do their job but do not understand the nuances of business and this is where confusion arises, in my not so humble opinion of course.
The some politico has to run to the rescue of mankind and confuses matters even more.
Little facts and to much uninformed opinion by newspaper reports has distorted to often the subject of which they are trying to report.. Readers of the Business Section of the daily press only want a story’s specific facts.. These readers are more than capable of accessing, evaluating and make judgments for themselves when give all the necessary facts in a specific story.. Opinions should be kept on the Editorial page.. If business writers want to express their own opinions, why not do it in an editorial format in the Business Section.. Then the readers can separate fact from opinion, fact from fiction..