A senior editor at the Houston Chronicle, apparently angered by our speculation that the confluence of stories in Upstream and the Houston Chronicle would improve the share price, has killed the story.
"That is not something we want any part of," said the assistant business editor who initially proposed the story to Washington bureau senior writer David Ivanovich.
Ivanovich told an ERHC On The Move reader Arthur Krauser, known as ArtK4K, "Actually, the story has been held up, probably for one week."
Our estimate is that the share price will be unaffected by the absence of the article, and will still move to $0.90 by Monday's close.
Ivanovich also told ERHC On The Move, "I do not know when the story will run. That's my editor's call."
It's great to know that the Chronicle bases its editorial decisions on our predictions of price movement. We didn't know they cared!
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27 comments:
How bush league.
Goodness, how the traditional media is really getting their shorts all in a bunch over the bloggers, and for any reason they can find it seems. The editor would have spoken to Art personally, but he wasn't comfortable removing the pacifer from his mouth so as to talk about the issue.
The weird thing is that they did it because of our speculation about the effect of it. Presumably, they would not have killed it if we did not speculate about its effect. But trying to tell someone not to speculate - about any story that they've been interviewed for, such as the Dow Jones News Service story by Norval Scott, where we had a week's notice and speculated all we wanted - is to try to suppress free speech. So they need to make up their minds whether they want to be a party to suppressing free speech, too.
Houston Chronicle= Lightweights...
Funny how money has such a driving effect on the news. For instanc, this story is time-stamped 4:14PM. If the Houston Chronicle article appears in the Tuesday issue, I won't wonder why.
Houston Chronicle is not a lightweight. But somebody spooked them good, meaning the "spooker" is carrying a giant club. Read the Enron stories in the Chronicle. They aren't typically afraid. This time they are...
Who would be big enough to spook them? Exxon? If so why would Exxon care if an article was writtn about ERHE?
Exxon is one of the few giants with a club that could spook a paper like the Houston Chronicle.
Only the spooker knows why they would do it though.
Or maybe someone has some racy photos of the paper's editors at Sullivan's.
Any word on when the LA Times is going to a follow up article on ERHC?
It is the LA Times scoop anyway.
Joe, you are a reporter correct? Well then you need to dig deep to find out "the why".
Why specifically did they kill the article? Did someone force them to kill it and if so who and why>
You are a reporter, now please get to work.
From the RB Board:
So Joe's Sheas blog basically....
killed the chance for million new potential investor to find out about ERHE...thanks Joe,keep up the good work,you friggin a$$hole.
Art- thanks for your work and your posts. Much appreciated. But what is the goal of writing them?
I hope for their sake the Chronicle does run the ERHC story. If they choose not to do so, I sincerely hope it's not because of pressure from another company. That would be unpleasant. Most unpleasant, and worthy of a few questions.
Lets not piss off the chronicle too much. We dont need them putting a hit piece out on us. Follow Art's instructions and if you must write them do so in a constructive manner.
I am posting this from RB.
Very good post.
My take on the Houston Chronical story....
I've been in the newspaper business for 25 years and one thing no editor wants is for his paper to be used or scammed. This is one of an editors greatest responsibilities. As an editor, (I am not one but if I was) I would also become very suspicious if one of the sources, possibly the person who actually brang this story to my newspapers attention was suddenly projecting a wind fall because of a story that was to be released in my paper. Running the story knowing someone with advance notice of that story was going to make substantial gains because of it has some very edgy legal and ethical questions. The editor must first and formost protect the reputation of his newspaper and must also protect it legally.
I have problems with Joe Shea because he claims to be a newspaer man but he is willing to write stories about a company that he is actively trading, no real newspaper person with a hint of ethics would behave in that manner. Most newspapers have a code of ethics that anyone involved in either the news or advertising of that paper has to follow. One of the paramont rules is you do not profit from your own stories. Shea apparently does not believe that point of ethics applies to him.
The code of ethics that I signed is the main reason I trade on the mostly OTC, the newspaper I work for rarely covers OTC issues and OTC issues rarely run ad campaigns, it makes that an area that I do not have to tip toe.
All in all I think what has happened here is a smart editor with some ethical backbone saw that someone, possibly one of his major sources for a story was not only hoping to reap rewards from that story but he was also blatenly braging about it on an internet blog. This editor will recheck what is contained in this story and if he finds the story still contains merit he will run it, but with what I just listed he must recheck what he is going to run in his newspaper.
I know we all love to share information but sometimes you really need to just keep your mouth shut. Trust me newspaper people do not like to hear or read their names on internet message boards refering to them and future stories they are going to write. It does not surprise me that BM has backed off his communications with some here, or at least we seem to hear about it less often, HMMM, maybe he asked someone to pipe down.
Anyway thats my take from someone who knows a little bit about the news business.
Fitz
Fitz,
So newspapers don't like blogs and message boards on the 'net? Tough. They need to get over it. The web is here to stay and it's changing the information landscape. What the traditional media doesn't like, is to see it's near total grip on information being challenged. Well boo-hoo to them.
As for Joe and this blog, well it's a BLOG, not a newspaper. Many blogs exist on the 'net and blog's are developing their own standards, standards that are different than that we see with mainstream media. Just as one needs to be weary of information from the mainstream media, one must do the same with blogs.
Joe's blog is a clearinghouse for info concerning ERHE. That means we get news, speculative news, rumors and even gossip about a company and it's stock. IMO, any decent investor should know the old adage: DYODD. That applies to all information you come across, be it a newspaper, magazine, internet blog or even a company's website.
Any thinking person knows that news reports concerning any company is a form of PR for that company. Given ERHE's size, such stories become magnified in their PR importance. So it's not surprising to conclude that the type of exposure ERHE would receive from the Chronicle would have tremendous potential for the upside on ERHE's pps. The folks at the Chronicle are big boys and knew this as well, despite their protestations to the otherwise (a rather dubious Capt. Renault routine on their part).
IMO, this has more to do with the competition between the mainstream media and bloggers, than any fear about journalistic ethics by the staff of the Houston Chronicle.
JB
JB - good to see you around! Nice analysis of the situation and I fully agree with the "dubious Capt. Renault routine" put on by the Chronicle. Why did they start the story and finish it IF they were supposedly so concerned about stock price? Lies are too easy to spot when you have the background.
PS What happened to your presence on Raging Bull?
Thank-you for your comments.
As for RB, there's just too much noise to bother getting involved there. I do monitor it daily and read those post which might seem to have interesting commentary or news. But when I go to RB and see 120 some new post in the course of a few hours -when there's nothing to justify such traffic- I just shake my head and wonder. I rather post on iHub. Few bashers and/or mindeless pumpers. Low noise to sound ratio to boot. Anything I would say on RB, I can say there or here and have it not get lost in the clutter. I also tune in to the EF chat about every other evening. All that gives me my fill of ERHE. I have 23 other stocks I also monitor and post on their respective forums, mainly at Yahoo. So all this keeps me quite busy and guilt free concerning the RB message board.
Thanks for your interest, whom ever you might be......JB
Joe Shea you need to put a DISCLAIMER on this website,that is clearly visible when people log on.You are in no way an OFFICIAL company backed endevour,and that needs to be in plain site.
Also you need to disclose the fact that you own shares and actively daytrade this issue.These facts need to be in plain site for all to see at log on to this site.
For those that do not already know, the poster "Joe Shea" on this unofficial blog,is one and the same as the RB aliases "Jouster" and "Hijodeperu", both of which were TOS'ed from RB and can no longer post to that board (at least under those two alias).
The poster was widely regarded on Raging Bull as a manipulator who frequently lied and fabricated stories about ERHC, for his own trading gains in the stock, which he has clearly admitted to, and bragged about.
Amazing,
If one wants to witness paid bashing and mindless pumping, just go to the Raging Bull forum for EHRE. I've yet to see anything close to what I see there, here on this blog. To bad you think many of the readers here are too stupid to read between the lines, if such a tactic is called for at all.
If one is so easily manipulated that he buys or sells based on the musings of Mongo, Monkeytrots, Joe Shea or redinvest, then they deserve to lose every last dollar they own.
It's hard for someone like myself to give more creedence to those with goofy nicknames (or just plain anonymous) over someone who makes his personal identity and stocks holdings publicly known.
Controversy sells and Joe is getting more free publicity than Maddonna. In fact Im going to start calling Joe "the material guy". I just hope Joe doesnt star in his own music video and start rolling around on stage in a wedding dress. Geez.
Geeze Joe; H.C.killing put the Blog right up there in readership, WHY WOULD XOM CARE????????
JOE YOU HAVE HAD 26 COMMENTS ON THIS THREAD AND YOU HAVENT OPENED YOUR MOUTH. WAKE UP AND SAY SOMETHING.
Is this an official company sponsored blog site?
I think Joe takes off weekends.
Forget H.C. It's peanuts. check out article below from a very respected pubicaiton. Bush had invited pres of sao tome to teh white house. why u.s. would be interested in a tiny islancd country of 150,000 people? OIL!!!! When u.s. shows interest as a strategic asset, wants to send military there you know we are siiting on a gold mine. Don't pay attention to day to day even week to week fluctations. Huge oil deposits enought to garner Bush's interest means ERHE is poised to be a serious oil plan
http://www.salon.com/tech/books/2004/09/02/oil/index1.html
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