In the past, I have been an FT loyalist and promoter, and found myself reflexively singing its praises earlier this week.
But then I started to wonder if that was still true. Yes, I still turn to the FT regularly, but it appears to be losing its preeminent position.
The pink paper has taken to somewhat sensationalistic headlines (e.g., “Shipping charter rates soar“) when not only does a close reading show that they overstate the content, but comparison with other sources show the reporting to a tad optimistic. This used to be the Wall Street Journal’s specialty. We even have an error that is still up more than 12 hours after another article, “Supertankers store 50m barrels of oil” was published:
Oil prices rose briefly above $50 a barrel, recovering from a four-year low of $40.50 earlier this month. Oil later traded $1.30 down at $44.95 barrel….
And we also have the way-too-frequent tech woes. I was unable to search the site last night, and this morning, FT Alphavile had to decamp to Facebook! What gives?
I e-mailed a buddy and found I am not alone in my take:
It has been going downhill for a while. The minute the US became their biggest market, they started dumbing it down….The Op-Ed is particularly bad now. Martin Wolf is about the only one I can read regularly.
Now there are some other comment writers I like, such as Wolfgang Munchau, and columnists I enjoy (John Authers, John Plender, Paul Davies, John Dizard), but the general point is well taken. Bring the old FT back!