The segment, called "Hidden Charges," did not include comment from the banking industry and it also ignored the risk taken by banks by offering overdraft protection service – which can be a benefit to consumers. Bouncing a check is costly too from what I've heard.
You know it's summer when your favorite shows start reruns, but most people don't expect reruns of television news. Yet ABC news looked like one on July 9.
ABC "World News with Charles Gibson" followed up it's July 8 hit piece on bottled water, with a second hit piece the next evening.
"There are billions and billions and billions of these [water bottles] that end up in landfills every year," correspondent Ryan Owens said to an unidentified man.
Owens report beat up bottled water using the same points as the earlier report: that it is environmentally damaging because the bottles end up in landfills and plastic is created using fossil fuels. He quoted the mayor of Salt Lake City, Utah - one city that has banned the bottle.
Today's release of the Institute for Supply Management's Non-Manufacturing Activity Report, which measures business conditions in the 86% of the economy other than manufacturing, came in with a reading of 60.7, after recording a 59.7 last month.
This was the 51st consecutive reported month of expansion for the Non-Manufacturing Index (any reading above 50 indicates expansion). It comes on the heels of Monday's ISM Manufacturing Report, which came in at 56, marking the 47th month of expansion in that index in the past 49 months.
So 14% of the economy is expanding nicely, while the other 86% can fairly be said to be nearly booming. Who knew?
(The rest of the post has the detail, including an era-by-era chart.)
The New York Times let go of the media’s “How dare you make that much money,” attitude on July 3 to support a new kind of executive. The green kind.
“The new environmental chiefs are helping companies profit from the push to go green,” wrote Claudia H. Deutsch.
Deutsch’s article supported the concept talking about how it will make money for companies, without mentioning any drawbacks. She also left out the radical left-wing nature of some of the groups mentioned in the story. The only criticism of the new positions came from the left.
Billion-dollar returns just aren’t good enough for NBC. On June 26, the “Nightly News” attacked wealthy hedge fund managers for making high-risk investments and for trying to do business with the “vulnerable” upper-middle class.
Reporter Carl Quintanilla mentioned rich investors who want to become “hedge fund rich,” but then focused his segment negatively on such investment firms.
“[T]he people who run them buy mansions, art – paying themselves salaries of over a billion dollars in just the past year.”
But is there anything wrong with that? According to Quintanilla, they’re run by greedy people and too risky for “a new more vulnerable audience.”
“They are beginning to target the upper middle class – the reasonably wealthy professional rather than the millionaire or the super-rich,” said Columbia University Law Professor John Coffee.
The Washington Post's Fredrick Kunkle let a leftist group skate away with the bland "nonprofit group" tag. The group, the Boston-based World Against Toys Causing Harm (WATCH) named Heelys -- a pair of sneakers with small wheels recessed into the heel -- the worst toy of 2006.
But a review of WATCH's Web site reveals that the group is headed by a trial attorney who boasts of raking in "record-setting settlements and jury verdicts throughout the country."
Oh, and they don't like toy laser guns, although they, you know, don't actually shoot real lasers:
“World News Sunday” on June 17 used Gibson’s very extreme situation to heap more blame on lenders without asking questions about her payment plan, loan consolidation or any other options that could lower her payments. The report also left out key facts such as where Gibson lives, how much debt she has, and what type of loan or loans she has.
You know the scorpion that killed the frog in that old fable? According to Columbia Journalism Review (CJR), that’s Rupert Murdoch.
CJR, a magazine for “professional journalists” published by Columbia Graduate School of Journalism fired the latest shot in the mainstream media’s fight to stop the sale of The Wall Street Journal to the News Corporation CEO.
“[Bancroft] family members sensibly fear that he [Murdoch] would misuse the paper’s journalistic power,” said an editorial in the July/August 2007 issue of CJR. “Murdoch’s answer is that to damage the credibility of the Journal would be to destroy it. Why would he do such a thing?”
CJR said that Murdoch would play the scorpion to the Wall Street Journal and destroy its journalistic credibility because “it’s his nature.”
Journalists in large part have come out against the Murdoch acquisition of Dow Jones & Company because of The Wall Street Journal. CJR’s editorial makes it clear journalists’ opinions on the matter are far from fair and balanced.
That’s right, a food police group has turned cereal killer. What's worse, the media don't see any foul play.
Fruit Loops cereal’s brightly colored mascot Toucan Sam, along with Sugar Smack’s Dig ‘Em and Rice Krispies’ Snap, Crackle and Pop are likely to be axed due to an agreement between Kellogg Company and the food police group Center for Science in the Public Interest (CSPI).
“Early Show’s” Hannah Storm was happy about the announcement. She called getting rid of the popular cartoon figures a “great idea” on June 14.
“[B]ecause you can’t even take your child to the grocery store because they’re clamoring for the products with characters on them. When are we going to see them disappear?” Storm asked correspondent Nancy Cordes.
The student loan industry has been too cozy with colleges and universities and has harmed students, at least that’s what the media say.
“For weeks, an investigation of the student loan business has been scrutinizing whether close ties between lenders and colleges have enriched them at the expense of debt-laden students,” explained the May 29 USA Today.
But that investigation has been an anti-industry “crusade” waged by liberal New York Attorney General Andrew Cuomo, and the media have been fighting alongside him.
“I think that it should be given by prescription so limited amounts are given out, limited amounts at a time. So, if someone is using it too much, it is monitored by a physician,” said Newman.
Anchor John Roberts did not mention other possible factors involved in Arielle Newman’s death and only provided a short statement from manufacturer Johnson & Johnson Consumer Companies, Inc. Nor did CNN include consult any medical experts on the show.
While past ABC reports have mourned the hardship facing the American auto industry, ABC aired liberal support for higher fuel efficiency standards that would make competition more difficult and manufacturing more expensive.
But reporter Dean Reynolds gave almost no time to the auto industry in his June 7 “World News with Charles Gibson” story.
Reynolds cited left-wing Sen. Byron Dorgan (D-N.D.) and Phyllis Cuttino of Pew’s Campaign for a Fuel Efficient America.
“We have better cup holders in cars, we have better music systems in cars – that’s all good,” Dorgan said, “But the fact is we need cars that are more efficient.”
From the moment word got out that Rupert Murdoch had offered billions to buyout The Wall Street Journal, the media have cried foul.
Journalists and media critics charged that a Murdoch takeover would turn the prestigious business newspaper into a journalistic joke, that the media mogul would page six-ify the Journal.
An art director at The New York Times, carried those complaints a step further by creating a mock-up of what the Journal would look like under Murdoch. According to The Washington Post, the image has been circulating Journal and Times newsrooms for about a month.
The tabloid style page (See below) reveals the anti-Murdoch bias that exists even in the Times art department.
The June 6 story by Julie Appleby emphasized problems with such insurance and questioned "whether such policies provide a false sense of security."
Critics beat out supporters in the story by a ratio of 2:1. Appleby cited two experts from different pro-universal health care advocacy groups and two unsatisfied customers.
Both advocacy groups took a hostile stance toward the health insurance industry, but Appleby gave readers no sense of the organizations' liberal positions - which included an affiliation with the liberal Kaiser Family Foundation.
This is not the first time Appleby has provided viewers with a one-sided view of health care issues. In August 2005, she wrote a story complaining about the expense of health care. But she buried the major reason for high costs: medical progress that saves more lives than ever before.
Story after story about Rupert Murdoch’s purchase offer for Dow Jones & Company, which owns The Wall Street Journal, has criticized the prospect as a threat to journalism, questioned the media mogul’s “editorial integrity” and attacked his character.
Journalists, media critics and the union representing the Journal were up in arms.
“[P]robably not quite as frightening as the day we learned Kim Jong Il has the bomb, but close … very close. It could be worse. We might have discovered, for example, that Saddam Hussein had stashed all those missing weapons of mass destruction in a Pasadena storage locker rented to Osama bin Laden,” said a Los Angeles Times column.
NEW YORK (AP) — The nation's service sector expanded at a faster-than-expected pace in May, suggesting it could help sustain broader economic growth as the automotive and housing industries slump, a research group said Tuesday.
The Institute for Supply Management, based in Tempe, Ariz., said its index of business activity in the non-manufacturing sector was 59.7 in May. The reading was higher than April's reading of 56 and Wall Street's expectation of 56.
..... The service industries covered by the ISM report represent about 80 percent of economic activity and span diverse industries including banking, construction, retailing, mining, agriculture and travel.
Ford's protracted sales slump continued in May, while every other major automaker showed gains:
DETROIT — Toyota Motor Corp.'s U.S. vehicle sales jumped 14.1 percent in May to its best monthly level ever and General Motors Corp.'s sales rose 9.7 percent, helping boost industry sales 5 percent, as both automakers credited in part the appeal of their more fuel-efficient offerings amid high gas prices.
For the second month this year, Toyota outsold Ford Motor Co., which saw sales fall 6.9 percent as it continued to cut low-profit sales to rental companies. Nissan Motor Co.'s sales gained 7.4 percent, DaimlerChrysler AG's sales rose 3.9 percent and American Honda Motor Co. rose 2.5 percent.
Even factoring in the change in sales to rental companies, the article goes on to say that Ford's retail sales were still down 3%.
As he did last month, George Pipas of Ford tried an advance PR stunt that fizzled, but left less-than-close observers thinking that the company might be doing better than it really is:
TheDaily Brief, one of the blogs for the new Conde-Nast business magazine Portfolio, took some jabs June 1 at their target audience, businessmen, by comparing them to, “bitter banker” Mr. Potter in the movie “It’s A Wonderful Life”. The typical bias came courtesy ofMegan Barnett, News Editor of Portfolio, who said:
“Like the ruthless Mr. Potter in “It’s A Wonderful Life”, hedge funds are attacking banks for being too soft on homeowners at risk of defaulting on their mortgages. The reason? Simple. Hedge funds would make more money if they didn't.”