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garden bay, west coast, Canada
persistent digging,never say never

Tuesday, March 26, 2013

CKNW Goes Full Yellow Journalism

At approximately 1:45 PM on the Simi Sara show, in between her segment with Bob Mackin, cknw did a short news blurb..

And it was bullshit yellow journalism of the worst kind...


Here was the news blurb uttered, and I quote..

"Dominion Bond rating service is reporting BC`s credit rating could suffer if the NDP are elected in May`s election and make a lot of changes" snip.

After I called cknw`s newsroom and ripped them a new one, when they reported that same story on latter news spots, they dropped the word "suffer" from their claim...How come it took a complaint from a blogger/writer for cknw to Clean up their wording?....It was done deliberately, subtle messaging, later in the day both the Vancouver Sun and The Province posted the report from Dominion Bond Rating Service, nowhere in the written report was the word "suffer" ...So how did that word enter cknw`s newsroom?.

This is yellow journalism of the worst kind, Bond rating agencies DO not call up radio stations and ask news departments to report opinions as news..It`s not their job, rating agencies are paid to assess finances, not weigh in on elections, I suspect that this crap was sent to cknw newsroom from the BC Public affairs department..

This is shocking propaganda..

I implore all readers to call up cknw and air a grievance, ..

This is as bad as it gets..

Here is a link to the audio vault..


http://www.cknw.com/news/audiovault/index.aspx

Cue up March 26th/ 1:00 pm...Fast forward to about 1:45 pm..

I phoned the newsroom already, I told them if that crap is uttered again I`m reporting them to the CBSC(Canadian Broadcast Standards Council)..

And I will, they are back east, phone call will have to wait until tomorrow..

Look people, rating agencies don`t do that, they don`t try to influence an election, this tactic wasn`t even attempted in the Romney/Obama battle for presidency..

That is how outrageous this was..

CKNW should bow their head in shame, their newsroom should be fired on
the spot..

Here is the little bit from the code of conduct rules for rating agencies..

______


6
1.15 The CRA should institute policies and
procedures that clearly specify a
person responsible for the CRA’s and the CRA’s employees’ compliance
with the provisions of the CRA’s co
de of conduct and with applicable laws
and regulations. This person’s reporting lines and compensation should be
independent of the CRA’s rating operations.
1.16 Upon becoming aware that another employee or entity under common
control with the CRA is or has engaged in
conduct that is illegal, unethical
or contrary to the CRA’s code of conduct, a CRA employee should report
such information immediately to the i
ndividual in charge of compliance or
an officer of the CRA, as appropriate, so proper action may be taken. A
CRA’s employees are not necessarily exp
ected to be experts in the law.
Nonetheless, its employees are expected to report the activities that a
reasonable person would question. An
y CRA officer who receives such a
report from a CRA employee is obligated to take appropriate action, as
determined by the laws and regulations of the jurisdiction and the rules and
guidelines set forth by the CRA. CRA management should prohibit
retaliation by other CRA staff or by the CRA itself against any employees
who, in good faith, make such reports.
2. CRA
I
NDEPENDENCE AND
A
VOIDANCE OF
C
ONFLICTS OF
I
NTEREST
A. General
2.1 The CRA should not forbear or refrain from taking a rating action based on
the potential effect (economic, political, or otherwise) of the action on the
CRA, an issuer, an investor, or other market participant.
2.2 The CRA and its analysts should use care and professional judgment to
maintain both the substance an
d appearance of independence and
objectivity.
2.3 The determination of a credit rating should be influenced only by factors
relevant to the credit assessment.
2.4 The credit rating a CRA assigns to an issuer or security should not be
affected by the existence of or poten
tial for a business relationship between
the CRA (or its affiliates) and the issuer (or its affiliates) or any other party,
or the non-existence of such a relationship.
2.5
The CRA should separate, operationally and legally, its credit rating
business and CRA analysts from any other businesses of the CRA, including
consulting businesses, that may present a conflict of interest. The CRA
should ensure that ancillary business operations which do not necessarily
present conflicts of interest with the CRA’s rating business have in place
procedures and mechanisms designed to
minimize the likelihood that
conflicts of interest will arise. 
_________________

Code of conduct rules prohibit the actions and statements attributed to Dominion Rating Services by cknw, in other words, they broke the code, cknw needs to retract that blurb, it needs to be put on the record by cknw`s newsroom that Dominion Bond Rating Service did not use the word "suffer"..

If indeed Dominion Bond Rating Service did use that word, if, than they broke the code of conduct,(Trying to influence an election)

Have a perusal of the PDF on code of conduct for rating agencies

The Straight Goods

Cheers Eyes Wide Open






18 comments:

North Van's Grumps said...

Could it be that Dominion people got it right but CKNW, in their haste, didn't see that there ARE two Press releases. One for the BC Government sitting at AA and the SECOND one is for BC Ferries ....... sitting at A

March 26, 2013

http://www.dbrs.com/industries/bucket/name/press+releases/page/1/id/0

Press Releases

1-15 of 24054
DBRS Confirms Wal-Mart at AA, R-1 (middle), Trend Stable Mar 26, 2013

DBRS Rates Palladium Securities 1 SA Series 100 Notes – Collateral Guarantor Finmeccanica SpA Mar 26, 2013

DBRS Rates Palladium Securities 1 SA Series 95 Notes – Collateral Guarantor Enel SpA Mar 26, 2013

DBRS Takes Rating Actions on U.S. RMBS Securities Mar 26, 2013

DBRS Assigns Provisional Ratings to IM CAJAMAR EMPRESAS 5, FTA Mar 26, 2013

DBRS Discontinues Rating on Potential Swap Termination Payments Owed by Saybrook Point CBO, Ltd. Mar 26, 2013

DBRS Confirms British Columbia at AA (high) and R-1 (high), Trends Stable Mar 26, 2013

Cyprus Loan Program Increases Euro Zone Uncertainty Mar 26, 2013

DBRS Assigns Ratings to Loans Issued to AMT Trust Mar 26, 2013

DBRS Confirms British Columbia Ferry Services Inc. at “A”, Stable Trend Mar 26, 2013

Hugh said...

wtf. bullshit. Like the scare tactics they pulled over the HST.

And as if the NDP could be fiscally worse than the Libs.

Anonymous said...

Good thing most everyone dosen't even listen to the CKNW crap.

They have forever been a yellow journalism station, always helping the rest of the Corrupt Mainstream Corporate Media deliver good messages (lies) about the Harper/Campbell/Christy Clark's BC Liberals, Federal parties and municipal parties and all extreme right-wing parties who represent their corrupt corporate masters only...always negative (lying) towards moderate left-wing people parties.

The corrupt owned and operated media have always decided who wins elections in BC and Canada because most people don't have a clue...that is, only the corrupt corporates have been represented using OUR money.

Wake up people, vote for a party that represents we the people...as it should if it were a democracy.

Go NDP Go, a party for the people!
Jean

Anonymous said...

can someone pull down the dbrs presser without all of us having to register with dbrs?

Anonymous said...

Seems like there are a lot of "media offensives" of this type going on right across the board right now. Confuse, frighten or disinform. I think it's a measure of desperation. Sure smells like it, anyway.

Anonymous said...

Seems like there are a lot of "media offensives" of this type going on right across the board right now. Confuse, frighten or disinform. I think it's a measure of desperation. Sure smells like it, anyway.

Anonymous said...

Hi there ...

Well I have not heard the talk show commentary, but it seems this article talks about was the supposed basis for the statement you quoted ...

BC Credit Rating Change Possible If NDP Win: Minister
http://www.huffingtonpost.ca/2013/03/26/bc-credit-raitng-change-ndp-win_n_2958469.html

The HuffPost article actually says the following:

"While (the agency) is encouraged by the responsive measures taken in the February budget to restore fiscal balance," the statement said, "the upcoming provincial election ... has the potential to delay or cancel the implementation of some of the ... budgetary measures. "(The agency) believes this could result in a change in fiscal direction," said the report.

The headline makes it clear how that statement was re-spun by Mike de Jong. Once he got into the act, you end up with what was said on CKNW.

The source of the problem is with Mike de Jong slanting the original statements made by DBRS. Totally irresponsible. The Liberal government cares not one iota whether people are properly informed or not. All they care about is reversing their slide into oblivion.

Grant G said...

The statement in this post, the statement surrounded by quotation marks is exactly what was said by cknw`s news room..

CKNW news people added their own slant, what was said was spun, spun with a purpose to scare people..

After I called them and complained, when they next reported the story they tweaked they way they reported and removed the word..

"suffer"..

Look friends, cknw is in the business of news reporting, this was not an accident, it was done on purpose..

And..

Even at that Dominion Rating Services went very close to the edge of the code of conduct rules cliff, possibly over..

I`m getting so sick of these media games..

Bill Good this morning had stacked calls, again.


Harvey Oberfeld`s post about cknw falling on their rating`s ass..

There is one main reason for cknw`s decline, the public hate the BC Liberals and cknw has been a BC Liberal infomercial..

Who could listen to a radio station spinning for thieves and crooks..

I listen for one reason..

To call them out on CBSC violations.

I have a message for cknw..

"From Hell's Heart I Stab at Thee"


Corus radio and BC Liberals are going down, cknw ratings going down,..kill two birds with one stone..

"revenge is a dish best served cold"


Cheers

Anonymous said...

Blazing a hot trail again persuader.{keep fire extinguisher handy}

Anonymous said...

1) The message is that if the New Democrats win, Dix will have to deal with a massive debt and a truckload of corruption instead of borrowing more $Billions. Taxpayers will blame only the Libs for the mess and it will be rough times. But it will be the Libs fault if this province is downgraded. 11 years of corruption at its worst! Get it?
2) Never mind phoning NW. It's a lost cause. Your energy should be deployed on all their sponsors. Let the advertisers know you won't be buying sweet bugger all from anyone with ads on CKNW. Tell the sponsors you listen to internet radio and have long forgotten the AM band. Hurt them in the pocketbook! Get it? Good.

paisley said...

Shaw owns this pathetic excuse for a radio station. I've taken the steps to hurt them where it hurts and cancelled my Shaw internet, I would encourage others to dump them as soon as they can and tell them why.

Anonymous said...

If you vote BC Liberal your children will suffer.

Anonymous said...

Shaw on 4 at the Chinese new year parade was following Christy around fawning about but when Adrian came along they practically dropped the camera. Later they did say hello to NDP people

Hugh said...

CBC had something about the bond rating thing this morning.

Hugh said...

Here is an interesting video on tax avoidance:

http://www.youtube.com/watch?feature=player_embedded&v=d4o13isDdfY

Hugh said...

Article today about tax cheats, thought you might be interested:

http://www.cbc.ca/news/canada/story/2013/04/03/merchant-offshore-trust.html

Hugh said...

This is pretty interesting too:

http://www.cbc.ca/news/politics/story/2013/04/02/f-rfa-macdonald-canada-cyprus-banks.html

cheers

Hugh said...

The Van Sun has canucks, lululemon, nothing about tax havens.