Sunday, June 27, 2004
Columbia Journalism Review strings up Lou Dobbs
Prashant Kothari points to a brilliant CJR piece that exposes Lou Dobbs for what he is -- a hypocrite. For those who came in late, Lou Dobbs has been using his show on CNN to trash outsourcing for well over a year now. Prashant culls the relevant paragraphs from the CJR story.
The distinguished-looking host of CNN's "Lou Dobbs Tonight" has ... turned his nightly news show into a one-man campaign -- the head of the Business Roundtable called it a "jihad" -- against the practice.
He makes little attempt to hide his disdain for the companies that are, as he puts it, "exporting America." And Dobbs is watched, so it's fair to say his views sway voters.
Dobbs even asks viewers to send him the names of companies that outsource. He then posts the list (scroll down) on his CNN website, under the heading, "These are U.S. companies either sending American jobs overseas, or choosing to employ cheap overseas labor, instead of American workers."
But there comes a time when Dobbs takes off his anti-outsourcing hat. That's when he switches from financial journalist to investment advisor-for-hire, peddling a monthly newsletter containing his investment recommendations. Pony up $398 and you receive Dobbs' investment tips for two years. You'll recognize some of the companies that Dobbs recommends. That's because they're on his list of firms that are "exporting America" by shutting down U.S. operations and opening overseas facilities.
Unlike most investment advisors, Dobbs goes beyond talking up the earning potential of these companies. He typically goes out of his way to praise them as good corporate citizens. The newsletter keeps a running tally of the companies profiled, under the heading, "The following companies have been featured in the Lou Dobbs Money Letter as those 'doing good business with good people.'" The appeal is alluring: You're not just buying a smart investment choice, you're buying a piece of good citizenship.
But Dobbs' newsletter doesn't just "acknowledge" successful corporation. He goes further, painting his featured companies as good corporate citizens -- and encourages readers to invest in them partly on that basis -- without mentioning that they conduct business practices that, by his own admission, he “detests.”
The distinguished-looking host of CNN's "Lou Dobbs Tonight" has ... turned his nightly news show into a one-man campaign -- the head of the Business Roundtable called it a "jihad" -- against the practice.
He makes little attempt to hide his disdain for the companies that are, as he puts it, "exporting America." And Dobbs is watched, so it's fair to say his views sway voters.
Dobbs even asks viewers to send him the names of companies that outsource. He then posts the list (scroll down) on his CNN website, under the heading, "These are U.S. companies either sending American jobs overseas, or choosing to employ cheap overseas labor, instead of American workers."
But there comes a time when Dobbs takes off his anti-outsourcing hat. That's when he switches from financial journalist to investment advisor-for-hire, peddling a monthly newsletter containing his investment recommendations. Pony up $398 and you receive Dobbs' investment tips for two years. You'll recognize some of the companies that Dobbs recommends. That's because they're on his list of firms that are "exporting America" by shutting down U.S. operations and opening overseas facilities.
Unlike most investment advisors, Dobbs goes beyond talking up the earning potential of these companies. He typically goes out of his way to praise them as good corporate citizens. The newsletter keeps a running tally of the companies profiled, under the heading, "The following companies have been featured in the Lou Dobbs Money Letter as those 'doing good business with good people.'" The appeal is alluring: You're not just buying a smart investment choice, you're buying a piece of good citizenship.
But Dobbs' newsletter doesn't just "acknowledge" successful corporation. He goes further, painting his featured companies as good corporate citizens -- and encourages readers to invest in them partly on that basis -- without mentioning that they conduct business practices that, by his own admission, he “detests.”
