January 28, 2007
Bartiromo Did Nothing Wrong, Says CNBC
CNBC's Maria Bartiromo has the support of her network in response to questions, and raised eyebrows, about her professional relationship with a former Citigroup boss.
The star financial anchor has reported extensively on Citigroup, and on Todd Thomson, formerly chief of Citigroup's wealth management unit.
Among other complaints, Thomson was faulted by Citigroup Chairman Charles Prince for the decision to spend $5 million to sponsor Sundance Channel programming that Bartiromo was expected to co-host. According to the (Wall Street) Journal, Bartiromo no longer will host the project.
Since 2004, Bartiromo has aired 11 major pieces on Citigroup, including four interviews with Thomson, according to the Journal's review of CNBC transcripts.
Michael J. Hanretta, a spokesman for Citigroup Inc., said Thomson "has left to pursue other interests. We are not commenting beyond that."
The succession of events has focused media scrutiny on Bartiromo, who, like any reporter, is expected not to get too close to, or accept favors from, the people and companies she covers.
On Friday CNBC said Bartiromo, 39, has done nothing improper.
Bartiromo — who's married to Jonathan Steinberg (son of financier Saul Steinberg).... gained the nickname "Money Honey" and became the network's face.
Besides her CNBC duties, she's also host of the nationally syndicated "Wall Street Journal Report with Maria Bartiromo," has a syndicated daily radio report and writes regular columns for Business Week and Reader's Digest.
~I'm sure there were sound fiscal reasons for Mr. Thomson investing Citigroups's $5 million to sponsor Bartiromo's project. Certainly there's nothing illegal about it.
Like my father often says, "if you can't help friends, who can you help? And if you use someone else's money, he'll know where to go for more fish."... My Dad's getting old.
[MB via google not above]
~You get the feeling cable tv is a big money maker? The Sundance Channel is a premium cable channel. I've never watched it. CNBC is basic cable. I never watch it but my cable-tv subscription helps keep it on the tube anyway. My checks for ComCast's services are like spare change--just pennies a month--I give to Maria Bartiromo and others. No need for them to starve.
Posted by Stubbornson at January 28, 2007 10:03 AM