Tuesday, September 16, 2008

Positioning matters in the news, for sure.

Goldman Sachs posted a profit this morning. It was 71 percent lower than the profit for the same quarter last year, to be sure, but it was a profit, in stark contrast to other investment banks who've precipitated the Great Skid on Wall Street.

The AP headline read: Goldman posts worst quarter since going public

Not: Goldman posts lower-than-expected profit

Or: Goldman remains in the black last quarter

The selected AP headline works well to add to the doom and gloom, doesn't it? I'm not advocating being a PollyAnna, but it's smart to keep a wary eye on the news media which, after all, is in the business of selling its wares. Big, exciting and even horrifying headlines sell. But if we care about our economy, perhaps we could position "somewhat bad news that could be a lot worse" as something else than yet another financial disaster.

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