I really, really, really hate to say this, but I agree with Henry Blodget. There, I said it. You remember him — the defrocked ex-analyst who is playing at not playing an analyst over on his blog.
In a recent post Blodget re-explains why he thinks Google shouldn’t have used the company blog as the primary vehicle for putting out the recent news of its click fraud settlement. Others disagree with him, saying Henry’s just being a dinosaur in not recognizing the communications puissance of blogs.
Maybe, but that’s not the point. The real point is that this was market-moving news, and Google, as usual, messed with its lowly retail investors, this time by making them play hide-and-seek to get information. Putting that sort of thing out first on a blog, rather than in the Investor Relations section, or “company news” section of the Googel site was, charitably, wrong-headed. If you’re going to put it on the blog, then put it out through all major news channels at once. Don’t cherry-pick, especially with financial news.
Bottom line: Google deserves to be spanked for not thinking through the consequences of its actions. It’s just too bad (and more than a little irritating) that it’s Henry Blodget doing it.