Business Coverage

In his coverage of the Department of Labor's Unemployment Insurance Weekly Claims Report at the Associated Press this morning, economics writer Christopher Rugaber stubbornly referenced a supposedly predictive benchmark the wire service has been using which has consistently failed in recent months. Rugaber also claimed that today's seasonally adjusted increase from the previous week, which…

In what has become an all too predictable ritual, an AP reporter has tried to make the situation in the economy look like it's on the upswing when it's not. Today, the AP's Christopher Rugaber read the press release on existing home sales from the National Association of Realtors. As a trade group, NAR will tend to put a good (or at least not as ugly face) on even a rough situation. So it's…

An unbylined Associated Press item late this morning told us that, according to AAA, "Thirty three million people will travel 50 miles or more during Labor Day weekend," which will be "the highest level of travel for Labor Day since the start of the recession in late 2007." But it won't be, as will be revealed in the AAA-sourced graphic found at Page 3 of its 36-page report (large PDF) seen…

About a month ago, I joked in a column published elsewhere that the reason a certain New York Times column didn't resonate with anyone is because no one pays attention to the Old Gray Lady any more. Unfortunately, that's not true. But the fact that almost no other establishment press outlet has mentioned the paper's disclosure late Wednesday (appearing in Thursday's print edition) that former…

There are so many holes in Paul Wiseman's Wednesday report at the Associated Press on the weakness of the current "recovery" that it would take a term paper to cover all of them. I'll just concentrate on a repeat error Wiseman made. It is one which AP colleagues Christopher Rugaber (with Wiseman, as demonstrated here) and Martin Crutsinger (as shown here) have also committed. All three…

Late this this afternoon, the Associated Press made a correction to Christopher Rugaber's August 10 story on July's federal budget results. His original claim, noted on August 11 by yours truly at NewsBusters and at BizzyBlog, was that Barack Obama's promise to cut the deficit in half was something "he pledged to do during his 2008 campaign." As noted in my original post and its mirror, the…

In her story this aftermoon on the imminent expiration of the company's "lock-up" period during which certain employees and insiders must hold onto their company stock, Associated Press Technology writer Barbara Ortutay reports that Facebook founder Mark Zuckerberg will be locked into his holdings until mid-November -- while omitting out of apparent ignorance the fact that he previously cashed…

In an apparent attempt to pin blame anywhere but on the Obama administration for the rising unemployment rate, a USA Today item currently carried at Newsmax's MoneyNews.com web site opens by claiming that "Companies across the country are cutting training programs for new employees, broadening the divide between workers with skills needed to compete in today's economy and those left out,…

A year ago, Standard & Poor's cut its rating of U.S. government debt from AAA to AA+. Very early Monday morning, in what read more like an Obama administration press release than a wire service news report, Paul Wiseman at the Associated Press claimed that subsequent events and other agencies' decisions not to deliver similar downgrades represent a "decisive repudiation" of S&P's call…

It's as if these people think that we're still in the era of the Pony Express and passenger pigeons. Both CNN's email alert after the close of the markets today and the Associated Press's post-close report acted as if Monday's stock market gain was due to a positive momentum effect from Friday's splendiforous jobs report, which really wasn't that good at all. CNN's 4:01 p.m. email told…

The wire services and other establishment press members appear to be getting more selective in what they will allow into their headlines, particularly omitting items which might hurt Dear Leader. Take the coverage of yesterday's Employment Situation Summary from the government's Bureau of Labor Statistics. The news was a combination of bad and mediocre (though expectations-beating): The…

General Motors didn't have a very good second quarter, as the Associated Press's Tom Krisher duly noted on Thursday. What Krisher didn't note, and what almost no one in the establishment press ever notes, is the fact that the company doesn't have to pay any income taxes on its U.S. profits until it uses up losses carried forward from before its 2009 bankruptcy filing accompanied by at least $…

On his way out to commercial break at 3:24 p.m. Eastern, Studio B host Shep Smith noted that August 1 is "National Badminton Day," and quipped "Forget National Day of Intolerance, let's just stay with badminton." The Fox News Channel host's comments appear to be referring to Chick-fil-A Appreciation Day, which Smith's fellow FNC colleague Mike Huckabee declared August 1 to be recently.…

Chick-fil-A president Dan Cathy is in hot water with the LGBT community because he committed the cardinal sin in an age of political correctness: Thou must not speak ill of anything gays, lesbians, bisexuals or transgenders wish to do. In an interview with the Baptist Press and later on a Christian radio program, Cathy, whose father, the philanthropist Truett Cathy, founded the company,…