I’ve had many "moments" with analysts – all flavors in fact. These include "moments" where I’ve recommended companies stop funding certain industry analysts. But that is very different than Altera’s moves covered in the NYT this morning. They are cutting a financial analyst out, claiming it is not in the interests of shareholders to work with him. Bad move on their part. No need to do business with them if you don’t like their views, but I beleive companies have a responsibility to communicate.
First, this sends entirely the wrong message to shareholders. So you are going to make calls on who gets to ask questions and who gets information? As a shareholder I want you to be entirely transparent. Opacity is a reason to sell, not to buy. Assuming we don’t have the smarts to read and interpret research is insulting.
Second, we’re in the Participatory Age. That means fostering participation through engagement and transparency. It doesn’t mean cutting out people whose opinions you don’t agree with when you have a responsibility to deal with them on behalf of your shareholders. All this does is call into question your business practices.