Many people have asked me why I am not covering the ongoing James Cramer soap opera.
Cramer, of course, the co-founder of the Street.com and a talk show host at a rival network, is now out with his own book, Confessions of a Street Addict.
Cramer makes good copy. Just ask Nicholas Maier, who used to work for him and has now written a blistering attack on Cramer's trading tactics called Trading with the Enemy.
The book's a doozie, rife with examples of Cramer's telephone-throwing temper and reports he would use certain reporters to get a legal leg-up on investing or advance a position. Cramer himself talks about almost daily chats with one CNBC reporter, in particular.
But I'd have ignored this entire story as idle gossip — at this stage — had he not dragged FOX News into it.
Cramer claims Mr. Maier was in cahoots with FOX News, since Maier's publisher Harper Collins, like FOX, is a News Corporation property. Cramer believes that there was somehow a larger corporate vendetta here.
Cramer going so far as to tell the New York Times, "I think Nick is working hand-in-glove with FOX and Roger Ailes," the chairman of FOX News.
Jim, here's where I have to draw the line.
Just because you used to do a show here, doesn't mean we miss you here, or wish you ill there.
There's no plot. No sinister cabal. No daily strategy meetings on how we can do you in.
I meet and chat with Roger Ailes quite often. Business news is very important to him. You are not.
We value being the no. 1 news channel. We particularly value having the no. 1 business news show. That's what we're about. Not you.
Clearly, Jim, you need no career guidance from me. Judging from your book, TV deals and other enterprises, you don't need my boost.
Nor do I need your slap, or even the slightest inference that what we do here is plot how we can destroy you.
We're not that petty and frankly, you're not that important.
You're good at what you do. Let others judge the propriety of how you do it. I'm not here to do that. So don't judge me, or my organization, or my boss.
I wish you well, Jim, even though, after all these years, you clearly wish us only ill.
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