Lemon Law Attorney

It is no surprise that the business media made a mistake in coverage of the all important talks between General Motors(GM - Cramer’s Take - Stockpickr) and the UAW, which have reached a strike as of this very moment, but could turn before the editor hits publish. (Or more likely, three minutes after said event.)

The Business Press Maven was hardly shaken by the first miss. But what makes me want to bellow today, though, is that the business media double dipped into their tub of mistakes.

One week ago I wrote how comically divergent coverage of the discussions, which may hold the American auto industry’s fate in its uncertain clutches, had been from publication to publication.

Since then, amazingly, things have gone from bad to putrid. Even from the same journalists with the same publications, reporting on whether these negations will end in success or failure has been wildly divergent. This within a week’s time!

I’m officially shaken.

Worst of all, most of these lurching reports were written in the absolute terms The Business Press Maven warned you to beware of. For emphasis, investors need to be careful of anything written about ongoing negotiations in absolute terms.

Last week, I pointed out how fluid negotiations for things like houses and pushcart hemp shirts were in our own lives and even bared my dark soul – telling the tale about how, covering an impending bus strike late at night for a major newspaper, I almost made the mistake of my working life by filing a report that the strike was nearly settled.

That much younger and inexperienced me was awakened to news that – between my deadline and the morning – the bus drivers had walked. I had only (thank God and night editors) been saved by the grace and skill of a few of the red pen sorts who were experienced in the ways of the business world, where it is easier to pin a wave upon the shore than the precise direction of a labor negotiation.

Back to GM-UAW, let’s review the carnage since last Monday. That day, Business Week saw fit to run with a headline containing hackneyed and more importantly, foreboding, metaphor. Said Business Week: UAW and GM: Stuck in Neutral?

The subheadline was quite definitive. The gap between the two sides was canyon wide: “After a grueling weekend, GM and UAW remain far apart on plans to fund an historic health-care trust fund.” Compare that to yesterday’s subheadline from Business Week (exact same reporter), which says the exact opposite on that central issue of health care: “The two sides are near agreement on a deal that would wipe out GM’s long-term health-care liabilities while protecting retirement benefits.”

Nowhere does the journalist mention how within a few days time, things were tilting toward totally different endings. Even if it meant taking a hit, that is what would inform investors the most – shedding light on the thought that you should never invest on the strength (read: inherent weakness) of any one report about high-pitched negotiations in process.