Posted by: arnegrim | April 13, 2011

Media due diligence a thing of the past

“Thirty-five minutes after reporting that “facing criticism over the amount of taxes it pays, General Electric announced it will repay its entire $3.2 billion tax refund to the US Treasury on April 18,” The Associated Press just moved this “urgent kill” bulletin:

“The Associated Press has withdrawn its story about General Electric repaying its entire $3.2 billion tax refund to the US Treasury on April 18. The story was based on a press release that GE says was a hoax.””

http://www.npr.org/blogs/thetwo-way/2011/04/13/135376205/ap-kills-story-based-on-fake-ge-press-release-about-companys-taxes?ft=1&f=1001

Why didn’t they contact GE to verify the press release before they printed?  Of course, it didn’t start there…

“…a March 25 story in The New York Times that said the company earned $14.2 billion last year, but paid no federal taxes and got a $3.2 billion “tax benefit.

Last week, The Washington Post and ProPublica debunked some of the Times‘ report. It found that GE will not be getting a refund on its 2010 taxes and likely will have a small tax “liability” for that year, once it’s done doing its 2010 return.”

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