TheStreet: Sinclair 4th dumbest thing this week

TheStreet.com, call's Sinclair's move one of the 5 dumbest things on Wall Street last week. And that was before the stock really started tanking.

See the whole story here, a couple choice guotes after the jump

I think the writer is being way too careful, but given that this was written last week, that may not be too surprising. I'm sure he'd be a lot more critical right now.

4. Sinclair, the Moment I Met You, I Swear

Will Sinclair Broadcast Group (SBGI:Nasdaq - commentary - research) have an effect on the presidential election? Or will the presidential election have an effect on Sinclair?

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What we do know is that Sinclair's desire to inform the public -- or what critics call an illegal, disguised political contribution to President Bush -- could have some unintended economic consequences. Maybe.

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 Two points we might bring up, though. One, Sinclair is already hurting; the company lowered third-quarter guidance, citing auto advertising weakness and ad cancellations stemming from hurricane season.

Two, Sinclair is due to report third-quarter earnings on Nov. 4, two days after Election Day. However the presidential election turns out -- assuming we'll even know how it has turned out by then -- we wouldn't be surprised if that day's earnings call is a little noisier than normal.