Herb Greenberg

This biographical article is written like a résumé. Please by revising it to be neutral and encyclopedic. (August 2021)

This article may need to be rewritten to comply with Wikipedia's quality standards. . The talk page may contain suggestions. (August 2021)

Herb Greenberg (born June 8, 1952 in Miami, Florida) is an American journalist.

Early life[]

Greenberg graduated from the University of Miami with a bachelor's degree in journalism.^{[citation needed]}

Career[]

Greenberg was^[when?] a New York-based financial correspondent for the Chicago Tribune after transferring from its Chicago newsroom, where he covered the food and restaurant industry. Greenberg has also worked for Crain's Chicago Business, the St. Paul Pioneer Press, Amusement Business, and the Boca Raton News.^{[citation needed]}

Before transitioning to online journalism, Greenberg spent 10 years as the six-day-a-week columnist for the San Francisco Chronicle's Business section.^{[citation needed]} While at the Chronicle, for several years in the mid-1990s, he also had his own America Online business commentary site, Bizinsider.^{[citation needed]} Also while at the Chronicle, Greenberg spent several years as the morning business reporter for KRON-TV in San Francisco^{[citation needed]} and freelanced for five years as the monthly "Against the Grain" columnist for Fortune (magazine).^{[citation needed]}

Greenberg was a columnist and blogger for [[MarketWatch|MarketWatch.com^[when?]]] and a former columnist^[when?] for The Wall Street Journal.^{[citation needed]}

Prior to joining MarketWatch.com^[when?], Greenberg was senior columnist for TheStreet.com for six years.^{[when?][citation needed]}

Prior to joining CNBC^[when?], Greenberg left journalism to start a stock research firm with Debbie Meritz, an analyst and accountant. The firm, GreenbergMeritz Research & Analytics, was subscription-only and was targeted to institutional investors, investment banks and accounting firms.^{[citation needed]}

Greenberg has been a senior market commentator at CNBC since June 2010.^{[citation needed]}

In 2013, he rejoined TheStreet as a commentator and editor of Herb Greenberg's Reality Check newsletter.^[1]

In November 2014 he started a new investment research firm called GVB Research,^[2] which was subsequently renamed Pacific Square Research.^[3]

After the GameStop short squeeze of January 2021, Greenberg was interviewed on the CNBC Fast Money Halftime Report. Greenberg agreed with the host that he was "someone who sells research to short sellers," a position placing him at odds with the traders from subreddit r/wallstreetbets. Some of Greenberg's remarks, such as, "everyday I just don't want to get out of bed" and "it's the least amount of fun I think I've ever had, and I'm very serious about that" were later featured on other television news programs, using Greenberg's words to demonstrate the surprise wall street insiders felt when the short squeeze revealed their entitled and self-congratulatory view of financial privilege.^[4][5]

Investigations[]

Greenberg started an investigation into the software company AremisSoft, which was later sued by the Securities and Exchange Commission (SEC) for fraud around 4 October 2001.^[6] According to the SEC, Its former chief executive, Roys Poyiadjis, later consented to disgorge around $200 million "of unlawful profit from his trading in AremisSoft stock -- among the largest recoveries the SEC has obtained from an individual."^[7]

Later he did an investigation into A.C.L.N., a Belgian company whose ships transported cars to Africa from Europe. It was later sued by the SEC on 8 October 2002 and delisted by the New York Stock Exchange. In 2004 the company agreed to disgorge around $27.6 million, which was to be returned to investors. The company has subsequently disappeared.^[8][9]

Then he exposed accounting questions about MBIA, the bond insurer. Much of his focus was on the controversial retroactive reinsurance transaction involving the Allegheny Health, Education and Research Foundation (AHERF), which was the focus of separate investigations by the SEC, the New York Attorney General and the New York State Insurance Department. The company settled the case by paying $75 million in penalties and disgorgement.^[10][11]

SEC subpoena[]

In February 2006, Greenberg and other reporters were served subpoenas from the Securities and Exchange Commission (SEC) demanding records of phone and e-mail communications with sources for an investigation of which the journalists were not the target. In a rare public reprimand, SEC chairman Christopher Cox said that he was not consulted prior to the issuance of the subpoenas by the SEC's San Francisco office and that the "subpoena to a journalist which seeks to compel production of his or her notes and records of conversations with sources is highly unusual."^{[citation needed]}

The subpoenas were harshly criticized by the media and by First Amendment groups.^[who?] In an editorial, The Wall Street Journal said that "SEC scolds are harassing journalists who report market-moving facts based on their daily digging." The newspaper said "the journalists are suspected of having sources who tell them things that they then share with their readers or listeners. Where we come from this is called reporting, or providing facts to investors who can then make more informed decisions."^[12] Shortly after the subpoenas were disclosed, the SEC reversed course and said it would not enforce them. The investigation concerned a research firm called Gradient Analytics, which was subsequently dropped.^[13][14]

Personal life[]

Greenberg resides in San Diego.^{[citation needed]}

References[]

External links[]

• Herb Greenberg's Marketwatch blog.
• Herb Greenberg biography at CNBC.com.
• https://web.archive.org/web/20081019204024/http://www.greenbergmeritz.com/