Monday, December 27, 2010

Gasparino: Jack Welch Warned Me About Doing Market Moving Stories, "You Are Going to Get Your Brains Blown Out"

It doesn't get much clearer than this, for those of you who don't think corporate execs don't influence reporting at mainstream media.

In an interview on, Charlie Gasparino, who used to work at CNBC, said that Jack Welch, who was Chairman of GE when they owned 100% of CNBC, told him not to do market moving stories  Gasaprino said:
Jack Welch told me you do not want to do that. You really don't want to move the markets like that because one of these days you are going to get your brains blown out. And I took that to heart.
It seems that Gasparino takes the message from Welch to somehow just mean it's a very dangerous thing to do and doesn't catch the nuance that Welch is attempting to muffle him. But what the hell is a corporate exec, one of the most powerful corporate execs in the world, doing telling a reporter not to break market moving stories?

The clip from the Benzinga interview is here, Gasparino mentioning the warning is at roughly the five minute mark:


  1. problem is Welch stepped down in 2001 and Gasparino didn't join CNBC until 2003/2004

  2. Are you kidding? They still pay attention to Welch now at CNBC? Do you think he has stopped being connected? Do you think he was giving less advice when he was CEO?

  3. Welch was a self-centered blowhard and Gasparino is a self-centered drunk so they are clearly meant for each other. Both moved and manipulated markets to get ahead. Would also bet they traded illegally at some point in their careers.

  4. Yes, this interview was from