Magazine article Editor & Publisher

WSJ Apologizes for Running Bogus Graphic: Art Was Supplied by Merrill Lynch

Magazine article Editor & Publisher

WSJ Apologizes for Running Bogus Graphic: Art Was Supplied by Merrill Lynch

Article excerpt

WSJ apologizes for running bogus graphic

Art was supplied by Merrill Lynch

A "mortified" Wall Street Journal ran a small item on Feb. 25 on the front of its "Money & Investing" section, apologizing to its readers for running a false "tombstone" ad as art accompanying a story.

The story focused on the many brokerage firms which are now defunct. The advertisement, allegedly from 1969, listed 36 firms no longer in business today. Unfortunately, while it is true that all the brokerage firms listed but one are defunct, the ad itself was never run.

The ad was supposedly for an American Motors Corp. stock offering. A copy of the ad was supplied by Merrill Lynch & Co., which has used it in its own publications.

A copy of the ad was passed to a Merrill Lynch executive even before the book was published. It made its way into the communications department to be used as an example of Merrill Lynch's staying power during a management meeting. The ad also appeared in a Merrill Lynch publication entitled "Managing Toward a New Era."

"We were as surprised as the Journal to find out it wasn't real," Fred Yaeger, Merrill Lynch spokesman said. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.