Do You Really Trust CNBC-TV18 ?

“CNBC-TV18 today is clearly the last word in business news. CNBC-TV18 is a joint venture between Network18 and CNBC, the global leader in business television”. That is what their website tells us. With the Radia tapes exposing many journalists and news channels and newspapers,  the financial networks haven’t received much attention. They, of course, offer wisdom on how your money works best or how the economy is doing or what shares will do well. But do they always tell you the facts? Can you trust them? Let’s take the case of CNBC-TV18. The TV18 group is headed by none other than Raghav Bahl, the author of a recent book called ‘Superpower’. Yes, he should know everything about power. 

                     Udayan Mukherjee - Pays 6 Crores as Income Tax?

Girish Nikam, a journalist, has been following the telecom scandal for quite a long time. Following the second round of the Radia tapes exposure in Outlook magazine, here are some extracts from his site: (in colour and edited for space by me)

What does Raghav Behl, the MD of TV 18(CNBC TV 18 and CNN-IBN), have to say about Manoj Modi (right hand man of Mukesh Ambani) claiming (on June 10,2009) in his conversation with Niira Radia that he told(threatened) him(Raghav) “your organisation is corrupt…. Even factual stories you don’t print about ADAG and you will work for us. I want to know who is the source, Mukesh(Ambani) ko personally attack karega toh main manoj modi hoon, chodega nahin kisiko.——-Raghav said in order to put pressure on me(Raghav himself)— send me(raghav) a legal notice”...... Did Raghav Behl ask Modi to send him a legal notice? If not true, did Raghav Behl get a letter from Modi, making such threats, as Modi claims in this tape and repeatedly asks Niira Radia not to disclose about it to anyone?

In one of the conversations(on June 13,2009) .......Niira Radia remarks that “Sebi investigations is on against Siddharth(Zarabi, Economic Policy Editor, CNBC TV 18), Udayan(mukherjee, anchor and MD CNBC TV 18)....they are getting their wives involved in the (stock) market), and the SEBI investigation is on”. She also goes on to say that Udayan Mukherjee “files the highest tax returns among journalists…… he pays Rs.6 crore as income tax, and he doesn’t even earn that much”. Now what has Raghav Behl and his colleagues named here done about these obviously serious charges? Is what she is saying true? If not what action are they contemplating or have taken?

 

Make no mistake whatsoever. CNBC-TV18 and other financial channels as also most of our news channels and journals can only be expected to be faithful to their paymasters. The viewers and readers are their last priorities. And if you believe all the stories that appear on financial channels, do so at your own risk. Most financial journalists eat from the palms of corporate bosses and advertisers. Not convinced yet? Let’s go to the global CNBC itself.

In my post ‘Servantile Journalism’ in March 2010 this is what I wrote:

"... In March 2009 in his now famous smack-down of CNBC (the American financial channel) Jon Stewart of The Daily Show showed how the journalists at CNBC asked all stupid and servantile questions to CEOs of companies like Bear Sterns, AIG, GM, Merryl Lynch, one even went far enough to ask Allen Stanford “how does it feel to be a billionaire?” ....In weeks after the interviews each company collapsed and Stanford was actually running a Ponzi-scheme. Yes, the very same Allen Stanford who sponsored a cricket event in the WI. The point here is, the journalists sucked up to the CEOs of these companies and never asked real hard questions that would indicate the health of their companies. The end result was the economic collapse in the US."    View the full Jon Stewart CNBC smackdown video HERE.

That US economic collapse also affected India. There were suicides by many financially broken people. When it comes to your money beware of servantile journalists and channels. When it comes to financial channels, be cynical. Be very cynical. Can you really trust them?

Vir-Gati – Vir Sanghvi Suspends HT Counterpoint, Takes a Break...

Vir Sanghvi bites the dust.

“...I have no desire to subject Counterpoint to this filth. It deserves better. So, Counterpoint will be taking a break. When life returns to normal, so will Counterpoint.” Thus wrote Vir Sanghvi in his column.  I doubt life will ever return to normal for this journalist.  Fortunately, he does have an alternate career in the foodie category.

A few days back Vir Sanghvi defended himself, unconvincingly in a post on Counterpoint :  “My response to the  Radia transcripts”. He claimed the tapes were selectively leaked and some parts doctored. Hindustan Times had distanced itself from his comments and his connection to the Radia tapes.

This is the man who has consistently proclaimed a prominent politician “mass murderer” for many years. One can understand dislike for Narendra Modi, but characterising him as “mass murderer” reeks of malice, prejudice and lack of discretion for a wimp who passed off as a journalist.  He is fortunate he wasn't dragged to court for such defamatory charges. He had figured in my list of India’s worst journalists in a post on August 31. (Read Here)

On Counterpoint post Gujarat elections of 2007 Sanghvi refers to the ".. north Indian slur that Gujaratis are effete" and then goes on to add  "So as a Gujarati, I am proud that we finally have our pride and confidence back. But it is a sad commentary on our state that it took a mass murderer to achieve this".  Ironically, it is a Gujarati woman (Nira Radia) who screwed Sanghvi.

One hopes that during his break Sanghvi will reflect and introspect on the consequences of being a biased and influenced journalist. The first martyr of the Radia tapes has truly achieved ‘Virgati’

We might now get to hear the line "what kind of food do you want?" Now who can complain about that.

The Barkha Dutt - Nira Radia Tapes : Power-brokers?

These tapes (in 5 parts) were posted at Open Magazine. The link for the post is given below:

http://www.openthemagazine.com/article/nation/tell-me-what-should-i-tell-them

A transcript is also posted at:

http://www.scribd.com/doc/43110861/%E2%80%9CTell-me-what-should-I-tell-them-%E2%80%9D-OPEN-Magazine 

Although the tape seems to be authentic, I cannot vouch for the same, so readers may make their own judgement. However, it is now up to both Barkha Dutt and Nira Radia to confirm or deny the accuracy of the tapes. These conversations were in 5 parts but I have combined them in to one single conversation.

The conversations are reported to have happened in May 2009 when the new UPA ministry was being formed at the centre. The transcripts provided below may exclude some interruptions or inaudible parts in the conversation but have been reproduced verbatim from the sites mentioned above.

(Transcripts as contained in the original sites referred above)

ALERT: Conversation begins on some audios after a few seconds of silence; all audio files embedded at the beginning of corresponding transcripts

As talks between the DMK and Congress (‘them’) broke down over joining the Government in May 2009, Radia was actively involved in opening channels between the two parties through, among others, television journalist Barkha Dutt

“Oh God. So now what? What should I tell them? Tell me what should I tell them?” —BARKHA DUTT

DATE 22 May 2009 TIME 09:48:51

RADIA: Hi, did I wake you up?

BARKHA: No, no, no. I’ve been up, ya, most of the night. The stalemate continues, yaa.

RADIA: Yeah. Listen, the thing is that they need to talk to him directly. That is what the problem is.

BARKHA: Haan so, apparently PM’s really pissed off that they went public.

RADIA: But that’s Baalu’s doing, naa… he was not instructed by Karunanidhi to do that.

BARKHA: Oh, he wasn’t?

RADIA: This is not. He was told to come away and tell Congress that.

BARKHA: And he went public

RADIA: Well, the media… media, the media was standing outside.

BARKHA: Oh God. So now what? What should I tell them? Tell me what should I tell them?

RADIA: I’ll tell you what it is---the problem and I have had a long chat with both his wife and with the daughter right

…

BARKHA: Haan, haan.

RADIA: The problem is if the Congress has a problem with Baalu, if they have no problem with anyone. They need and go talk to Karunanidhi. They have very good relationship with Karunanidhi directly.

BARKHA: Correct, haan.

RADIA: Because you see, in front of Baalu, in front of Maran, they can’t talk.

BARKHA: Yeah

RADIA: So they have to tell him directly, there [are] enough Congress leaders in Tamil Nadu. They need to go in and tell him exactly---the biggest problem is that the following of Alagiri is saying that you cannot give [inaudible] a cabinet [inaudible] and keep Alagiri in the MoS state.

BARKHA: That’s right. But will Karuna drop Baalu?

RADIA: He… look, if you tell him that Baalu is the only problem. I would imagine, he will drop him.

BARKHA: But you see the problem right now is also over the choice of portfolios, naa…

RADIA: No. They’ve not said anything. The portfolios have not even got discussed.

BARKHA: Congress claims, for whatever it’s worth, that the DMK wanted surface transport, power, IT, telecom, railways and health.

…

RADIA: You see, you see my honest advice…

BARKHA: Yeah.

RADIA: ..is that you tell them that they need to tell him directly that we are happy because Kani’s [Kanimozhi, DMK Chief Karunanidhi’s daughter] got no issue being about independent. But Alagiri is now telling her that you cannot take an independent charge if Maran remains cabinet minister.

BARKHA: I see.

RADIA: And Congress is sending messages through media and through various sources, saying that. And Maran is telling everyone that he is the only acceptable person.

BARKHA: Person, yeah, yeah, yeah. That I know.

RADIA: But that’s not correct, naa?

BARKHA: No, I know. We’ve taken that off. We’ve taken that off.

…

BARKHA: Also, but, but the Congress needs to tell Karunanidhi that we have not said anything about Maran.

BARKHA: Okay. Let me talk to them again.

RADIA: Yeah? The choice of candidate we will leave to you. We have some reservation about Baalu. And let them tell the reservation. And we have not said anything about Maran. We are not talking

In another telecon, Barkha Dutt offers Niira Radia the assurance that she is on the job as a reliable go-between

“That’s not a problem, I’ll talk to Azad. I’ll talk to Azad right after I get out of RCR” —BARKHA DUTT

DATE 22 May 2009 TIME 10:47:33

BARKHA: Haan, Niira?

RADIA: Barkha, what I’m told is that the Congress yesterday, apparently, God knows who they are talking to in the DMK.

BARKHA: Haan, well must be Maran…

RADIA: Relayed---no, they relayed that the infrastructure portfolio should not be given to Maran or Baalu.

BARKHA: No, that’s because they want to keep it for themselves.

RADIA: No, they wanted to; they didn’t want any infrastructure, that’s what Prime Minister said, so he said that’s why they give him labour, fertiliser, chemical---and telecom, IT, they said for Raja. So what has happened is, is that message not relayed to Karunanidhi?

BARKHA: Oh I see!

RADIA: They might have told some minion down the line or told Maran who is not relaying the truth.

BARKHA: I think they have told Maran.

RADIA: Yeah, now what they need to do is, they need to speak to Kani so she can set up the discussion with her father, because even the Prime Minister’s discussion was … she was the one who’s translating, and it was a very brief discussion for two minutes.

BARKHA: Okay.

RADIA: That we’ll try and work it out, and the let’s not you know take it a hasty easy decision. That’s the type of conversation that happened.

BARKHA: No, I’ll set it up as soon as they get out of RCR.

RADIA: What she saying is that, you know, that someone senior like Ghulam [Nabi Azad, senior Congress leader]---because he is the one who is authorised to speak. ….

BARKHA: Yeah, yeah, yeah.

RADIA: Right? Was to speak to her then she can tell her father that I have got this message from the Congress.

BARKHA: Theek hai, not a problem. That’s not a problem, I’ll talk to Azad---I’ll talk to Azad right after I get out of RCR [Race Course Road, presumably, the PM’s residence].

RADIA: Yeah, and then she said when father lands, I can speak to him.

BARKHA: Okay.

The two conversationalists touch base again

“I’ve had a long chat, I had a long chat, and they promised me that Azad will speak to her” —BARKHA DUTT

DATE 22 May 2009 TIME 15:31:29

RADIA: They will speak to her?

BARKHA: Yeah.

RADIA: Who? Ghulam?

BARKHA: Ghulam. Yeah.

RADIA: You know, the problem is she’s catching a flight at five haan, going back. Dayanidhi Maran is attending the swearing in when only Raja has been authorised to attend, so he’s gone and told his leader that Ahmed Patel has told me especially to attend the swearing in.

BARKHA: Ahmed says this is rubbish …

RADIA: But I am telling you but this. Karunanidhi’s very confused.

BARKHA: No, but why can’t Kani stay also and attend it?

RADIA: She doesn’t want to attend no because her father told her to come back. She has to follow what she’s father says, no. Call Ghulam then.

BARKHA: Let me call him.

RADIA: She’s leaving at five. She’s catching a flight at five.

DATE 22 May 2009 TIME time 18:09:06

BARKHA: No, you see Congress’s condition is Baalu should not get surface transport. Not Baalu, DMK should not get surface transport, beyond individuals right?

RADIA: Correct, correct, and they are not individuals. Let me tell you one thing’s for sure, 3 plus 4 was yesterday; because of Maran, they wanted to make it 4 plus 3.

BARKHA: Okay!

RADIA: So, now it is back to 3 plus 4 that was already worked on the table?

BARKHA: No, so why does this formula not sound right then?

RADIA: Because of Alagiri naa, if you make Alagiri… not cabinet. No, he’s not got cabinet.

BARKHA: Oh, Alagiri got what, according to these things?

RADIA: You see, according to her, he’s got Health, but he can’t be cabinet. Either Maran is not cabinet, either Raja is not cabinet or Baalu’s not.

BARKHA: Alagiri’s got Health and that’s a big compromise by Congress because they said we won’t give them Health. So that’s their face saver. No, but Alagiri, Health can be cabinet?

RADIA: Agreed, but then Raja is MoS.

BARKHA: Raja is MoS!

RADIA: Then is Baalu MoS?

BARKHA: Nahin ho sakta. Nahin, nahin, nahin, if Baalu gets the Heavy Industries and Alagiri is in the Fertiliser, according to …. Baalu gets Fertilizer; Alagiri gets this thing, Health.

RADIA: Maran gets Telecom and IT.

BARKHA: Maran gets Telecom and IT. Raja gets demoted.

RADIA: Who gets…?

BARKHA: Raja. Nahin hoga?

RADIA: I am telling you nahin hai (laughing). Trust me, nahin hai.

BARKHA: Achcha, theek hai.

In yet another telecon, Barkha Dutt explains her situation to Niira Radia

“Everybody I know in the Congress was at the swearing-in, so I haven’t been able to speak with the top guys, and now I just finished and I am going to make my set of calls” BARKHA DUTT

DATE 22 May 2009 TIME 19:23:57

BARKHA: You see, what happened was everybody I know in the Congress was at the swearing in, so I haven’t been able to speak with the top guys, and now I just finished and I am going to make my set of calls.

RADIA: Kani just landed in Chennai. Just now. I just spoke…

BARKHA: Where is Daya? Where is Maran?

RADIA: Daya didn’t turn up for the swearing in because he was called back, because he went and told Karunanidhi that I have been asked by Ahmed Patel to come for the swearing in. But the leader said then you join the Congress.

BARKHA: (laughs) So now?

RADIA: So Raja was the only one who’s authorised to attend which he’s done and Raja’s catching the 8:40 flight...

BARKHA: Okay