12.06.2005

Where's the "news" in the News Tribune?

When your local newspaper can't cover a major piece of news that takes place within the community, I have to ask, what's the problem?

The local newspaper in question is the Daily News Tribune, and the piece of news is a case of alleged fraud perpetrated by Mark Conway, whose "hedge fund" company, Groundswell Partners, is based in Waltham. In early November the SEC launched an investigation and a corresponding suit that alleged millions of dollars in losses, doctored books, and fictitious auditors, all involving Conway and his company. Later in the month the SEC apparently froze his assets. Yet not a peep about this in the News Tribune.

It's not like the News Tribune didn't know about this case. It was carried on Bloomberg, the Boston Globe, and even sister pub the Herald had an item about it on Nov. 9. It's not clear if Conway is a resident of Waltham, but according to public records (thanks, Zabasearch!) he is listed as having an office on Moody Street. Couldn't the Trib editors assign someone to wear out a little shoe leather and check out the office, get comments from workers there, find out where Conway can be reached? What about Conway's business partner, Aaron Behle, apparently himself a victim of Conway's alleged deception? Couldn't anyone track him down, and call him, to get comments and/or additional background? What about the investors? Millions of dollars were allegedly lost. I am sure they have something to say!

This major item taking place on home turf was a chance for the local paper to shine. Instead, it blew the opportunity. Scratch that; it totally ignored the opportunity.

It seems the editors of the Tribune expect news to come to them in the form of press releases, city council meetings, the police and fire departments, and community events. Hence front page items like "3 cheers for Disney", pro-realtor fluff pieces, and token crime stories.

C'mon, Trib! You can do better!

1 Comments:

Blogger Lisa said...

This is the kind of stuff that gets a local blog into the bigtime. I think you'd do a very good job covering it. Just start at the beginning, go through the documents, and start emailing people.

Hedge funds manage monies for others. Who invested in the hedge fund? Did the managers of the hedge fund make political contributions to any candidate or political party?

12:41 PM  

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