Business Coverage

Late last week (covered at NewsBusters; at BizzyBlog), a Goldman Sachs economist issued a dire warning cutting current-year federal spending by a measly $61 billion, or about 1.75% of the administration's full-year projected spending total, would significantly reduce economic growth in the coming quarters. If this were so, the economy would booming beyond belief right now, given that the Obama…

Although it would be unfair to characterize Derek Kravitz's report at the Associated Press this morning on the Census Bureau's new home sales report as anything but bleak, the AP reporter missed what should have been the most obvious stat: The 19,000 new homes actually sold nationwide in January 2011 (i.e., not seasonally adjusted, real number) is the lowest for any single month on record in…

On Wednesday, with a bit of an assist from the Census Bureau's seasonalizers, the Associated Press's Derek Kravitz, with the help of Martin Crutsinger, covered the Bureau's just-published January data on housing starts and building permits. Though no one could accuse the AP pair of excessive cheerleading, they missed the most important comparison: How did January 2011 compare to January 2010?…

In Tuesday's Kansas City Star, reporter Aaron Barnhart revealed that Current TV, the cable channel launched in 2005 by Al Gore, would be the least missed, only managing to be viewed by 18,000 households in the fourth quarter of 2010. Also on the list of "Cable's Least Wanted" were the DIY network, ESPN Classic, Fox Soccer Channel, Logo, and Sleuth. Despite such abysmal ratings for Current,…

Twice on Monday (here and here), I took serious issue with the opening sentences of two Associated Press stories on Uncle Sam's fiscal situation. First, there was Martin Crutsinger's Sunday stinker, which described the level of spending in President Obama's yet to be released 2012 budget as "$3 trillion-plus," timed so that early morning news readers, radio listeners, and TV viewers would…

In his lifetime, Princeton economics professor and Nobel Laureate Paul Krugman has published 20 books, over 200 papers, and since the year 2000 two columns a week at the New York Times. Clearly without understanding the irony of his question, the man once accused by the Gray Lady's ombudsman of possessing a "disturbing habit of shaping, slicing and selectively citing numbers" asked his…

The coal industry not only gets attacked by the media for being a "dirty" fossil fuel, it rarely gets positive coverage because the networks focus on disasters. Since January 1, 2010, nearly 80 percent of the broadcast network stories about coal were related to tragic mining accidents. Only 14 percent of stories mentioned coal in any context other than a mine disaster or natural disaster that…

On Tuesday's CBS Early Show, correspondent Michelle Miller reported on planned closures of 2,000 U.S. Post Office locations: "...in this age of digital communications, online bill paying, and Federal Express, are physical post offices still relevant?" She seemed to answer her own question: "Folks are not going to let this go down without a fight...It's what makes their community whole."…

At the top of Tuesday's CBS Early Show, co-host Erica Hill cheered President Obama's supposedly pro-business move of speaking at the U.S. Chamber of Commerce on Monday: "Obama's olive branch. The President reaches out into hostile territory and meets with the U.S. Chamber of Commerce, urging the private sector to start hiring." Introducing the later report on the speech, co-host Chris Wragge…

CNBC's Jim Cramer appeared with Matt Lauer, on Tuesday's Today show to pronounce that big business is warming to President Obama as he cheered: "This is a new president. The market is up 12 percent since he changed his ways. He doesn't say he's changed his ways, but boy business sure feels he has." Cramer even went on to predict the economy would be recovered by the 2012 election as Obama was…

Someone needs to tell the Associated Press's Jeannine Aversa and Christopher Rugaber that just because the number of unemployed people declines, it doesn't mean that they "found work." That must be what the pair believes. Their error-riddled and suspect supposition-driven Friday afternoon report, whose title predictably focused on the unemployment-rate drop while ignoring the pathetic…

Here's a modest proposal for liberals who say they support job creation: Stop smearing successful, law-abiding private companies whose values don't comport with yours. I'm looking at you, New York Times. Chick-fil-A is an American success story. Founded by Georgian entrepreneur Truett Cathy in 1946, the family-owned chicken-sandwich chain is one of the country's largest fast-food businesses.…

Ed Schultz on Tuesday spent a great deal of time blaming the crisis in Egypt on rising food prices tying commodity inflation to former President George H.W. Bush and Wall Street speculators. Not once in over fifteen minutes of air time were the name Bill Clinton or the two bills he signed into law that deregulated the financial services and commodity futures industries mentioned (videos…

Andrea Mitchell invited on DNC Chairman Tim Kaine, on Tuesday's Andrea Mitchell Reports, to announce the Democrats have picked Charlotte, North Carolina to host their 2012 convention but the MSNBC host couldn't resist hitting Kaine from the left as she scolded Democrats for selecting a right-to-work state. Mitchell, taking up for Big Labor, even challenged Kaine: "I defy you to find a labor…