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April 21, 2008
All Business: Investors’ trust drops when bad news buried
By RACHEL BECK
AP Business Writer
AP Business Writer
NEW YORK — Reality hit after a few minutes into State Street Corp.’s initially upbeat earnings conference call: The financial services giant had a $3.2 billion skeleton hidden in its closet.
Winning over investor confidence these days doesn’t come by burying news. Amid today’s punishing financial crisis and economic downturn, shareholders want — and deserve — to know straight up about anything that could potentially hurt business or profits.
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Previous columns:
- All Business: Earnings estimates deserve skepticism, 04-16-2008
- All Business: Greenspan's 'don't blame me' is hard to buy, 04-14-2008
- All Business: Firms find out cheap debt now costs a lot, 04-10-2008
- All Business: Fed makes a bet most of us couldn't stomach, 04-07-2008
- All Business: SEC overhaul good news for big business, 04-02-2008
- All Business: Has stock market hit the bottom yet?, 03-31-2008
- All Business: Bear Stearns collapse shows the power of fear, 03-19-2008
- All Business: Personal troubles aside, Spitzer helped investors, 03-17-2008