Lipin

If Lipin was a sign of decline, CNBC comes off as the veritable Great Satan.

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012

Lipin did excellent reporting, and the beat was a pressure cooker.

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012

He begins with Steve Lipin, the fine Wall Street Journal M&A reporter who established the paper as the go-to vehicle for M&A announcements in the late '90s "established," because the WSJ had long had a powerful franchise in that area.

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012

Under Lipin, who, Starkman sniffs, toiled in the "trades" before somehow arriving at the WSJ, the paper dominated in deal scoops, particularly on Mondays.

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012

In fact, Lipin was riding a powerful bull market, driven in part by expanding M&A activity that had been growing since the late '60s, most spectacularly in the '80s.

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012

Starkman characterizes the rise of Lipin as a "divide," as a "watershed moment" when the WSJ abandoned its interest in reporting for the public to reporting for "insiders" -- who he later inflates into "investors."

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012

Lipin did excellent reporting, and the beat was a pressure cooker.

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012

Starkman takes the fact that CNBC used the daily drama of the stock market and turned it into a sporting event creating "stars" like Maria Bartiromo who in Starkman's scheme is analogous to Lipin and represents "something changing in the culture" and decides it poisoned -- corrupted -- business journalism.

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012

Under Lipin, who, Starkman sniffs, toiled in the "trades" before somehow arriving at the WSJ, the paper dominated in deal scoops, particularly on Mondays.

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012

He begins with Steve Lipin, the fine Wall Street Journal M&A reporter who established the paper as the go-to vehicle for M&A announcements in the late '90s "established," because the WSJ had long had a powerful franchise in that area.

Robert Teitelman: Starkman on the Decline of Business Journalism Robert Teitelman 2012