Business Coverage

Yesterday, The New York Times Company suspended its quarterly dividend. The company's stock slid 5% to close at $3.51, yet another all-time low in the company's nearly 23 years as a public company in its current form (the Times has been a public company since the 1960s).Henry Blodget at Silicon Valley Insider noted, even before yesterday's announcement and share-price dip, that the company's…

Wow. Rick Santelli of CNBC (picture at right is from his bio page) let the elitists running what is turning into a planned economy in Washington have it today with a rant for the ages.The direct CNBC link is here, while a YouTube is here. Allah at Hot Air has an embed. What's really revolting about this is the studio reaction. While it's maybe half-kidding at times, the fact that strong…

It's been called "the rant heard around the world," after The Drudge Report linked to the video with a screaming red headline. However Rick Santelli may have given CNBC viewers a preview of what effects Obamanomics will have on the populace. On CNBC's "Squawk Box" Feb. 19, the Chicago Mercantile Exchange floor reporter, along with several traders, expressed his outrage about President Barack…

If you haven't figured it out yet, the fact that lawmakers in Washington who voted for the mislabeled "stimulus" bill championed by Barack Obama, Nancy Pelosi, and Harry Reid did so without reading it, let alone understanding it, means that in the coming weeks (or months?) we'll be learning about all manner of items in the legislation that "nobody" knew about. But that didn't stop House and…

With so much populist outrage at bankers and other corporate types these days, Hollywood is predictably trying to capitalize on it (TNT's "Leverage" is just one example.) "The International," from Relativity Media was just the latest to hit theaters with its Feb. 13 opening. In the slow-moving thriller "The International," the executives of the fictional International Bank of Business and…

The Obama-loving media might adore flowery rhetoric with little substance, but stock investors sure don't.That's what traders and market professionals said was responsible for Tuesday's stock market collapse after Wall Street was tremendously disappointed with the lack of specifics in the highly-anticipated bank rescue plan presented by newly confirmed Treasury Secretary Timothy Geithner. As such…

A week ago (at NewsBusters; at BizzyBlog), I noted that government bailout recipients General Motors and Chrysler had horrible sales in January, and that their declines are accelerating. GM was down 49% year over year in January, compared to -32% in December; Chrysler was down 55% in January, compared to -53% in December. Meanwhile, the companies' main foreign competitors turned in January sales…

It's a question we've all been waiting to hear answered. Unfortunately, it took a conservative talk radio host to ask it and didn't come from the mainstream media. In an interview with Republican Sen. Arlen Specter, Pa., on Feb. 9, talk show host Laura Ingraham asked why he and Sens. Olympia Snowe and Susan Collins are the only three out of 229 Republican members of Congress to support the…

With the turndown in the economy and the crisis in the financial services industry, capitalism bashing has become all the rage at mainstream media outlets.From making fun of corporate jets to lambasting executive pay, liberal press members are creating a cottage industry blaming all the world's problems on the free market.Unfortunately, there are economic consequences for this "Capitalism…

Say goodbye to hope and change. It's time to embrace the politics of doom and gloom. MSNBC host Contessa Brewer, in an interview that seemed a lot like a lobbying campaign for the stimulus set for a vote in the U.S. Senate, quizzed Sen. John Barrasso, R-Wyo., about the possibility that his vote against a stimulus bill could send the country spiraling into a Depression - and endanger the public's…

He might be on the Forbes list of billionaires with a net worth of $1.3 billion and he may appear frequently in the financial media, but Pimco's Bill Gross doesn't have a grasp of how much "trillions" are. Gross recently called for a massive government intervention or face certain catastrophe.  "This economy requires support from the government, a check from the government in some form or…

Your newspaper's comic page isn't even immune to the news of economic hardship the country is experiencing - iconic cartoon character Dilbert was let go from his job. Dilbert creator Scott Adams appeared on the Feb. 2 "CNBC Reports" to explain why. "Well, you know his company was slowing down just like everybody else's company has been slowing down and he didn't have much to do, so he started…

Don't like the notion of Wall Street employees receiving bonuses? Shoot the messenger - as Adam Green at The Huffington Post has done. In a Feb. 2 post on The Huffington Post, Green said it was bad form for CNBC "Street Signs" host Erin Burnett to even think about considering the other side of the anti-Wall Street bonus argument, since some Wall Street banks received TARP funds, courtesy of the…

With all the populist sentiment generated from the economic slowdown by politicians, CNBC "Mad Money" host Jim Cramer is seeing eerie similarities with the comments of President Barack Obama and the words of a communist revolutionary. Cramer, appearing on MSNBC's Feb. 2 "Morning Joe," drew comparisons between remarks between the first head of the Soviet Union, Vladimir Lenin, and Obama. Obama…