All Posts Tagged With: "Dow Jones"

News Corp Swept by Outbreak of Contagious Amnesia.

 I don’t know if swine flu is yet rife within the offices of News Corp’s world wide operations, but there is a visible increase in cases of galloping amnesia, if not downright mendacity, doing the rounds among their senior executives, especially when being asked questions by Members of Parliament.

Les Hinton, with silver locks well coiffed and a chummy habit of calling his questioners by their Christian names, consented to give evidence today to the House of Commons Culture Media Sport Committee via video-link from New York. He used to be Executive Chairman of News International, which owns the Murdoch newspapers in Britain, until December 2007, when he was promoted CEO of Dow Jones in New York, after Murdoch’s News Corp acquired it in their takeover of the Wall Street Journal.

          He was, therefore, boss of Stuart Kuttner, Tom Crone and Andy Coulson, the management in charge of the News of the World when Royal Editor, Clive Goodman was jailed along with private investigator Glenn Mulcaire for tapping the phones of members of Prince Charles’ household.

          As executive chairman at the time, he was as responsible as any of his subordinates for what went on – unless, of course, they knew more than he did about those events. But one of the committee today pointed out the striking similarity in the way Hinton answered the questions put to him and the efforts of his former executives. The number of times he shrugged his shoulders and declared he was “sorry but he just didn’t know”, or that, “given how busy he was at the time, he just couldn’t remember”, almost rivalled Andy Coulson’s performance in front of the same committee in July, when he declared he had no recollection of his paper publishing a transcript of a telephone message left by Prince William for Prince Harry, reproduced verbatim on p.7 of the Screws with a strap across the front page.

          However, Les did let slip one little droplet of truth.

          Asked, ‘Did it surprise you that Andy Coulson didn’t know that a voicemail had been hacked?’ he answered, ‘He might well have known.’

          Thanks, Les. That’s what we’ve all been saying.

          But, on the other hand, Les didn’t know why News International had given Gordon Taylor and his associates a million quid in damages, although he was very much in charge when the events that led to it took place.

          That is so surprising, you could be forgiven for thinking Les was being a tad disingenuous. And when asked who had given him the advice that NI should give a substantial settlement to a journalist who had been dismissed for plainly breaking his contract, or how Clive Goodman had been able to afford a top QC to fight his case (when he’d already pleaded guilty), he’d jolly well forgotten again.

          If I were a share-holder in News Corps, I think I’d be very worried that one of its principal assets is being run by a man who has lost his capacity to remember such important details.

Popularity: 2% [?]