Business Coverage

The Conference Board's September Consumer Confidence Survey came out this morning. Overall, it rose very slightly from a miserable 45.2 to a still-miserable 45.4. Consumers' assessment of near-term prospects slid from 34.3 to in August to 32.5, while their longer-term outlook improved from 52.4 to 54.0. At the Associated Press (saved here for future reference, fair use and discussion purposes…

Let's note the likely reason why what Julia Seymour observed earlier today is the case -- namely, that network news reports have taken to calling the Solyndra situation an "embarrassment." The use of that term probably dates back to September 16, which is as far as I can tell the first time the Associated Press filed a beyond-perfunctory report about now-bankrupt Solyndra, the beneficiary of…

UPDATE: BizzyBlog commenter "Rich in Iowa" notes that what the AP is criticizing is "a clearinghouse for employers and job seekers hosted by the State of Wisconsin Department of Workforce Development and  this site pre-dates Walker’s Governorship by, oh, maybe a decade." Boy, Scott Bauer and the Associated Press have really, really nailed Scott Walker this time -- not. Bauer found that some…

The Solyndra scandal is certainly an "embarrassment" for the White House, as some network news reports have called it. But somehow those same reports have still failed to criticize Obama's green jobs programs for fiscal waste, even the government loan program that gave Solyndra millions. To their credit, all three broadcast networks aired stories in September about the California solar…

So I figure that I need to catch up on the LightSquared saga. This is the company which, as Fox News reported on Thursday (the URL date is September 15, though the time stamp is the next day) is building "a nationwide, next-generation, 4G phone network." The problem is, as Fox further noted, that there are concerns that "many, including (General William) Shelton, think (the network) would…

President Barack Obama's nicknaming his new tax increases on the wealthy the "Warren Buffett rule" is fitting since the billionaire has spent a decade campaigning for a tax hike, a campaign his friends in the liberal media have been more than willing to join. For over 10 years the media promoted Buffett's complaint that the wealthy in America don't pay enough in taxes, spurred on by a Buffett's…

Part 1 on the Associated Press's September 16 evening story ("Obama admin reworked Solyndra loan to favor donor"; saved here at my web host for future reference, fair use and discussion purposes) by Matthew Daly and Jack Gillum criticized the reporters and the wire service for making it appear as if all the findings in the story were the result of original work. Two other paragraphs in the…

The public learned on September 3 from William McQuillen at Bloomberg (possibly earlier elsewhere) that now-bankrupt Soyndra's private investors restructured the company's finances in January by lending the company "$75 million." As a condition of doing so, they convinced the government to give the new loan senior status over all other creditors. Now taxpayers face a likely loss of hundreds of…

MSNBC ranter extraordinaire Dylan Ratigan is no fan of "crony capitalism" -- when businessmen get government to help them socialize the risk of their ventures through government subsidies or bailouts, leaving taxpayers on the hook for failure while reaping the benefits of government largesse. The Obama administration's handling of solar energy firm Solyndra is a perfect example of same. Yet…

It's hard to figure out why Tom Krisher at the Associated Press bothered filing a report on the status of contract talks between Detroit's Big 3 automakers and the United Auto Workers. The only reason I can discern is that he wanted to brag about how he and his wire service pals have access to anonymously-sourced info about how the talks are going. Surprise: As has been the case almost always…

Today, the White House's Office of Management and Budget published its Mid-Session Review (large PDF), an economic forecast projecting, among other things, that Gross Domestic Product (GDP) for calendar 2011 will be 1.7%. That doesn't sound like much (and it isn't), but to get there growth will have to almost triple its most recently reported level during the second half of the year. Second-…

Two weeks ago (at NewsBusters; at BizzyBlog), yours truly pointed out how establishment press coverage of the bankruptcy of Massachusetts-based Evergreen Solar had emphasized its Bay State assistance, and only rarely brought up how it benefitted by being able to sell solar panels it otherwise would probably not have bothered to produce to projects benefitting from American Recovery and…

Poor President Obama. There's only so much he can do to lift the economy. He's tried so much already, yet somehow it just hasn't worked. Now his options are limited by those darned Republican demands for "fiscal austerity" and a "tight debt ceiling" (of "only" $2.4 trillion) which was only raised by enough to get him through his reelection effort (in 14-1/2 months). This is the utter garbage…

Maybe AP stands for "Alternative Planet." In an early version of Julie Pace's coverage of President Obama's selection of Alan Krueger to be the next head of the White House Council of Economic Advisers, the following paragraph appeared (bolds are mine):