Peter Jennings and the Stock Market

Jack Tomsky jtomsky at IX.NETCOM.COM
Tue Feb 10 23:32:37 MST 1998


Tonight, on World News Tonight, Peter Jennings admitted that he was
wrong about the stock market.  Since 1982, when the Dow Jones average
stood at 778, the market has increased to more than tenfold.  During
this time, Peter Jennings has rarely mentioned the steady consistent
rise in the price of stocks.  However, when there is a temporary
correction, it becomes the lead story.  "Panic.  Stock market crash.
The Asian crisis.  Insecurity."

   Tonight he said,

   "Good evening.  We're going to begin tonight with the power and
confidence of the small investor.  When the stock market rose today to a
record high, it caught SOME PEOPLE off guard.  The government and the
MEDIA have been so intently focused on all that perilous news from Asia
and what it would mean here.  At the end of January, most of the market
analysts thought it would be a bad year.  Today, however, it looked like
individual investors were saying 'whatever happened in the rest of the
world, putting my money here at home was as good as putting it
anywhere.'  Today, the Dow Jones industrials gained 115 points and the
record high at the close was 8,295 (sic)."

   If you think that's not an admission of error, then you don't know
Peter Jennings.  After all, when there are two minutes to go to air
time, he's still rewriting the lead story in his head. He also types at
his computer keyboard with two fingers.

   Jack



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