In a recent blog entry, I discussed PR professionals and unethical relationships with reporters. I came across a prime example of this in CNBC’s financial reporter Maria 
Bartiromo and her relationship with a Citigroup executive. Bartiromo anchors “Closing Bell” and “Wall Street Journal Report with Maria Bartiromo” on CNBC. According to Ethics Newsline, Todd Thomson, Citigroup exec in charge of brokerage, was recently fired for lavish spending. A major part of this spending was a $5 million sponsorship of a show to be hosted by Bartiromo. No big deal, right? Well when you add in private jet flights Bartiromo has enjoyed on Citigroup’s tab, as well as continued coverage of Citigroup on Bartiromo’s news reports, you get an ethical issue on both sides of the fence.
CNBC has backed Bartiromo, saying that the flights were business travel and were approved by management. I hope I can find a job where my business travel includes globetrotting in a private jet on someone else’s dime. CNBC claims it reimbursed Citigroup for the flight.
“The New York Post reported last week that flying Bartiromo in the Gulfstream likely cost Citigroup $2,300 to $4,000 an hour, or $40,000-plus for a trip that CNBC reimbursed at the commercial rate of $3,000 to $4,000 total. The $40,000 expense to Citigroup does not include the commercial airfare that the three bumped executives paid to get home from Beijing.” – USA Today
What’s that part in the Journalist’s Code of Ethics? Oh yeah, no gifts.
Journalists, PR professionals and business managers should all be concerned with behavior. The relationship between reporter and source (be it PR professional or executive) should be managed with respect and intense care. There is a fine line between friendly and friendlier. In my opinion, Bartiromo and Thomson crossed that line. Private jet flights, sponsorship and continuous coverage are too much to ignore.
I am so damn tired of everybody dodging blame in the Bartiromo/Thomson affair. The careful attorneys at wsj and all other publications will allow only innuendo regarding the affair between the two. If it walks like an affair…..if it looks like an affair…..its an affair. An it sure as hell looks and smells like one. Why wont the Money Honey just admit the truth instead of hiding behind the cloak of CNBC and GE.
If it was an affair, then that raises even more ethical considerations. I agree that it does sound like something more was going on but I’m not one to say. I most definetly agree that CNBC is acting as Bartiromo’s protector. CNBC should come out and say that the relationship was unethical and unprofessional. Thanks for the input.
None of say it was an affair, but everyone of us thinks it was. Why, cause it looks that way. A journalist should keep oneself completely away from the look, smell, and touch of inappropriateness. Any hint of that rapidly diminishes one’s character and that is very hard to get back. I say that neither Todd nor Maria will ever reach their previous heights (no pun intended).