Guy Baker’s comment on the importance of financial-news media as a check against the selfishness of giant corporations is sharp.
A conglomerate that was recently accused of bullying turned to poor crisis management in arrogantly declaring it was “too big” to take advantage of small fry. That upset readers of the social and mainstream media even more. Many then called for a tightening of laws against anti-competitive practices. In sum, the incident was a warning to giant conglomerates that, when financial-news media are active, they must show humility and sympathy in the face of all complaints.
Though conglomerates can benefit society by providing convenient services and reducing prices through economies of scale, they should never act in the belief that they are too big to fail. History has proven this belief to be a fallacy.
Fair play