Is it time to retrain business reporters?

As of the time I am writing this, the most e-mailed article from the New York Times is entitled “Is it time to retrain B-Schools“. Kelley Holland began the article by writing “John Thain has one. So do Richard Fuld, Stanley O’Neal and Vikram Pandit. For that matter, so does John Paulson, the hedge fund kingpin.  Yes, all five have fat bank accounts, even now, and all have made their share of headlines. But these current and former giants of finance also are all card-carrying M.B.A.’s.”

Obviously, we now know what caused the financial meltdown.   For your information, their MBAs were all between 29 and 36 years ago.

  1. John Thain, Harvard, 1979.
  2. Richard Fuld, Stern, 1973
  3. Stanley O’Neal, Harvard , 1978
  4. Vikram Pandit, Columbia, 1976
  5. John Paulson, Harvard, 1980.

If only these titans of industry had taken that course in business ethics around 30 years ago, we may have averted this crisis.

In reality, the article has nothing to do with these five infamous MBA graduates except for the initial paragraph quoted above and a quote from the dean of the Thunderbird School of Global Management; rather the article deals with educational issues that have been around for years that business schools are still debating. In fact, the first paragraph was a journalistic version of “bait and switch” so that the reporter could write about general concerns about MBA education.

So, my questions are: Where do New York Times business reporters learn their journalistic ethics? And it is time to retrain them?

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One Response to “Is it time to retrain business reporters?”

  1. careermee Says:

    Very nice. This argument – wall streets in the toilet, MBAs go to wall street, therefore business schools are to blame for the crisis – is really, really popular at the moment (i think philip delves broughton is leading the charge), and it’s faulty logic is just an eye-grabbing way of getting into a tired pontification on business education and the need for change.

    Good work.

    R Vaughn
    http://blog.careermee.com

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