(iChinaStock News) Guoqing Li, CEO of e-commerce retailer Dangdang (NYSE: DANG), today posted a verbal assault on his Sina Weibo microblog against the editor of The Wall Street Journal’s Real Time Report. Mr. Li attacked the editor for allegedly misreporting on his earlierprofanity-laced tirade against Morgan Stanley for allegedly undervaluing DangDang’s IPO.
(Screenshot of Dangdang's CEO Guoqing Li's Verified Sina Weibo account) [Editor's note: On Sina Weibo the "// @ user" format shows that the author is quoting an earlier microblog post from another user.]
Josh Chin, you son of a bitch, cursed me by saying "slam ~ a string of a string of vulgar slurs ~ to insult another person. F**K YOU, scum of The Wall Street Journal, let me beat shit out of you. Josh Chin, you are one of them. //@ Qiao Di: The description is not very accurate. I am referring to the phrase "business elites"… @ Guoqing Li of Dangdang: Wall Street Journal reported biased stories about me. Those sluts used four-lettered words against me. I didn't fight back at all. "This was not the first time Chinese business elites discussed on Sina Weibo a topic that is not appropriate to disclose. In January, Guoqing Li of Dangdang cursed on his weibo, criticizing Morgan Stanley suppressed Dangdang's IPO price and insulted a self-alleged Morgan Stanley employee with expletive language and self-compiled "rock 'n' roll" lyrics. Josh Chin"
The incident leading to this outburst began yesterday evening when Mr. Li posted to his Sina Weibo account, alleging that a Wall Street Journal report about his weibo posts of rage on theMorgan Stanley incident was inconsistent with the facts and asking for an apology: "I am askingWall Street Journal to apologize for its fact-distorting report on the weibo debate between me and the 'Big Morgan lady.' Otherwise, I reserve the right to sue the newspaper. Facts are: 1. "Big Morgan lady" insulted me with a series of foul words but I didn't curse back; 2. My rock 'n' roll lyrics were aimed at the investment banking industry, not the weibo user "Big Morgan lady;" 3. I am asking SEC of the United States to investigate whether Josh Chin and his relatives had gained any inappropriate profits from trading Dangdang stock."
The news triggered discussion among many Internet users, one of whom was identified as "Dow Jones business development manager Qiao Di" in Sina Weibo account information. Qiao Di's refute to Mr. Li was, "The description is not very accurate. I am referring to the phrase 'business elites'…" The comment immediately led Mr. Li to fight back. "This is fun. Otherwise why would I respond?" Mr. Li started another round of attack afterwards, but it was aimed at Josh Chin instead of Qiao Di. There was no further exchange of fire between the two later on.
Mr. Li is referring to an English article written by Wall Street Journal reporter Josh Chin in the "China Real Time" section of the WSJ.com on May 18: "Billionaire’s Elopement With Mistress: ‘I’m Giving Up Everything’". The article is about CDHfund partner Gongquan Wang's elopement with his mistress, which was also announced on Sina Weibo, and only one paragraph mentions Mr. Li. "This was not the first time Chinese business elites discussed on Sina Weibo a topic that is not appropriate to disclose. In January, Guoqing Li of Dangdang cursed on his weibo, criticizing Morgan Stanley suppressed Dangdang's IPO price and insulted a self-alleged Morgan Stanley employee with expletive language and self-compiled "Rock 'n' Roll" lyrics. Josh Chin"
Earlier this year, Mr. Li released his rage on Sina Weibo, accusing Morgan Stanley and Credit Suisse, the two underwriters on Dangdang's IPO in the United States, of inappropriate behavior like deliberately suppressing the issue price and causing an unsatisfying return after the company went public. He compiled a set of "rock 'n' roll" lyrics that attack the two investment banks. The comment triggered violent response from two weibo users, whose information showed that they are with Morgan Stanley. The intensity and bitterness of the cursing match has stunned many Internet users and drawn numerous eyeballs.
(By Xiao Ran, Sina Tech, Translated by iChinaStock.com, with supplementary explanation and clarification)