Aaron Elstein's story about Seeking Alpha's initiative to publish free conference call transcripts made it to the number three headline in Crain's NY Business today. Here's the story in full:
Web Site to Offer Conference Call Transcripts
by Aaron Elstein
In a sign of the growing ambitions of financial blogs, Seeking Alpha, a network of stock market and personal finance Web sites, is expected to announce Wednesday that it will begin offering free conference call transcripts for nearly 400 leading companies.
Seeking Alpha founder David Jackson, a former Morgan Stanley telecommunications analyst, said he has hired a team to transcribe the calls, which often contain useful nuggets of information from corporate management teams but also typically take a long time to listen to. Mr. Jackson says he expects to have a transcript available on his Web site within six hours after the conference call is completed.
While conference call recordings are typically available on the Web sites of most companies, transcripts typically have only been available to investors willing to pay big sums to buy them.
"By offering conference call transcripts for free, SeekingAlpha.com is dismantling the last bastion of privileged investment information," Mr. Jackson said.