Hit & Run

The Two Faces of Lou Dobbs

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On CNN, Lou Dobbs doesn't hide his anger at companies that commit the dreaded practice of "offshoring" (i.e., moving jobs abroad when they can be done more cheaply but still effectively); Lou's misplaced ire was discussed on Reason Online a while back by Julian Sanchez, and the longtime anchorman gets beat up a bit in my July Editor's Note (online here as pdf file; if you were a subscriber, you'd have already gotten the latest print edition of the 13th best magazine in the country).

But it turns out that when he's pitching stocks in his investor newsletter, the Lou Dobbs Money Letter, Lou is often bullish on offshoring companies. Notes the Wall Street Journal:

Dobbs has used his private newsletter, the Lou Dobbs Money Letter, to endorse the stocks of some of the very companies he criticizes as exporters of jobs. The newsletter, published monthly by Phillips Investment Resources LLC, is being offered to subscribers for $99.95 a year, down from the regular $199 price. In the August 2003 issue, Mr. Dobbs described the newsletter's mission thus: "Every month I introduce you to people that I believe bring a lot of value to the table. They run good companies, they look out for their employees, and they care about the shareholders."

Whole thing here. Dobbs says that he's going to change his newsletter to reflect his TV persona.

[Thanks to Romenesko].