Friday, July 13, 2012

My Respect For CNN Just Shot Up Immeasurably

And it's not because I'm an employee of TBS and therefore am contractually obligated to defend all things Time Warner. I've written about CNN's missteps before, but things like this remind me that there is still a modicum of decency and fairness in political journalism.

John King, a recently demoted media personality at CNN, wrote an article addressing the issue behind Mitt Romney's departure from Bain Capital to head the Salt Lake City Olympics. Earlier in the week, the Obama campaign and biased political writers tried to say Mitt Romney lied when he said he left Bain in 1999 because SEC filings show him as the CEO and President of Bain Capital until 2002.

The reality is that private LLCs have much different governance than public companies, and a founder and extremely successful executive like Romney can remain CEO and President while taking an extended leave of absence from the company. A publicly traded company CEO would have to resign his position if he were to leave to run a different organization that demanded his full time for 3 years.

I'm glad that King, who probably is more closely aligned with the Democratic party, had the guts to say what everybody knew: this is a complete non-scandal and the Obama campaign simply found new material it can use to bash Romney over but they can't because he really left the company in 1999, like he said all along.

Good job, John King. And good job, CNN, for reporting the news as it is, not how they want it to be.

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