Monday, May 22, 2006

The Times 'Scoop' That Never Was

Extra! Extra! Read all about it! The New York Stock Exchange is poised to merge with an electronic something-or-other called Euronext! So reported the New York Times today.

"The NYSE Group is expected to present Euronext with a formal proposal in the next couple of days, two people involved in the negotiations said yesterday."

The story was filled with stuff like this -- confidential source stuff -- talking about a "person" here and a "person" there said this and that.

Nice! I guess that "person" must have been reading the Sunday Times of London, which got there first. As the New York Post reported today,

London's Sunday Times reported yesterday that Big Board chief John Thain was poised to make a merger offer to Euronext - an electronic network covering stock listings in Paris, Brussels, Amsterdam and Lisbon and derivatives in London - to counter a move made Friday by German exchange Deutsche Boerse.

Gee, nothing in the Times story about one of Britain's leading newspapers reporting that.

Guess they must have forgot.

See? Bloggers aren't the only ones who get poached by the Times.

Hey Barney Calame! Dust off that Empty Suit and serve us up a nice whitewash.


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