“There are many reasons why the city of Stockton is now in bankruptcy, but some think the now-defunct firm of Lehman Brothers helped push the city down the stairs.”
So says KQED’s California Report which aired yesterday. You can audit the program here.
The California Report piggybacked on a New York Times story which piggybacked on my column which piggybacked on a Record story. They all came from a small blurb UOP economist Jeff Michael put in his quarterly business forecast. The blurb, just a few paragraphs, wasn’t even the forecast’s lead item. Yet it made national news.
“So my phone is ringing off the hook,” Michael wrote me recently.
The power of the pen. If only it erased red ink.