Business Coverage

Despite all the gloom and doom, the employment picture in April was much better than economists had expected, and, maybe more important, quite different than the Hooveresque, Depression Era picture media members have been painting for months.Makes you wonder if in press rooms all around America, as well as in Democrat campaign headquarters across the fruited plain, there was a huge sigh of…

Hillary Clinton's tax policy on gas and oil is "pointless" while John McCain's is "evil," according to New York Times columnist Paul Krugman. But in explaining the difference, Krugman betrays either his ignorance of the flawed history of the so-called "windfall profits tax" on petroleum or his tacit approval of the tax despite its folly as public policy.From Krugman's April 29 Conscience of a…

Old Media business reporters have a definitionally-incorrect habit of labeling single industries or economic sectors as being "in recession," when the term, as defined here, can only describe national economies or the world economy. Two examples of this are New York Times reporter David Leonhardt's description of manufacturing as being in recession in February 2007 (laughably incorrect, in any…

You have to wonder if the Associated Press felt the need to find an exceptionally gloomy story to write when it learned that the economy would probably show positive growth in the government's first-quarter GDP report. That report was released earlier today -- and came in at +0.6%. If so, this article by the AP's Anne D'Innocenzio (HT to a NewsBusters e-mailer) does the job: The for-sale…

The Associated Press's Jeannine Aversa really should change her writing focus, because economics is clearly not her specialty.After telling readers in March that "Dangerous cracks in the nation's job market" are "ominous signs that the country is falling toward a recession or has already toppled into one," Aversa had the gall to report Wednesday, "The bruised economy limped through the first…

College textbooks are overpriced and something should be done. Why, Congress should even step in! That is the message that The New York Times wants us to understand and I can't say it is, in and of itself, entirely the wrong message -- save the whole bit about Congress stepping in, of course. But, as is typical of The New York Times, their story is only a small part of the whole story. In their…

At the end of Wednesday’s CBS "Early Show" co-host Harry Smith introduced a segment on a new group of environmentally-friendly young professionals: "Earth Day, of course, was yesterday, but for many Earth Day is every day, especially for a growing number of Americans of means." Correspondent Priya David went on define this new demographic: "Scuppies, so interesting, that's what the people in this…

For months, NewsBusters has been warning readers of the likelihood that media will adopt the 1992 Clinton playbook of regularly depicting the economy as being far worse than it really is.On Sunday, the Democratic National Committee released a new television advertisement attacking GOP presidential candidate John McCain with economic statistics that don't measure up to even the slightest scrutiny…

They had to really be looking for this, but ABC's April 17 "World News with Charles Gibson" has found something else for parents to be concerned about. This time it is artificial turf on sports fields. "It's become part of the American landscape - synthetic turf, durable and soft," ABC correspondent Sharyn Alfonsi said. "It's everywhere, from stadiums to neighborhood soccer fields. But now,…

If you didn't know any better, you might think ABC correspondent Lisa Stark has a personal vendetta against airline mergers. For the second consecutive night, Stark gave viewers every reason to oppose a merger between Delta Air Lines (NYSE:DAL) and Northwest Airlines (NYSE:NWA) on the April 15 "World News with Charles Gibson." This time it came in the form of opposition on Capitol Hill. "But…

Understanding every nuance of economics, especially as it pertains to the airline industry, can be a daunting task. However, you would think that NBC's "Today" co-host Meredith Vieira - who has elevated herself to the point where she's worth $10 million a year, according to Parade magazine - would have risen to the task at this point in her career. In an interview with Delta Air Lines (NYSE:…

Operating under the assumption that what's good for business is bad for consumers forces the media to give Americans a narrow view of the world. All three network newscasts on April 14 reported the Delta Air Lines (NYSE:DAL) and Northwest Airlines (NYSE:NWA) as if it were a conspiracy to bilk air travelers out of more money. "It's an unsettled time in the skies - planes grounded, flights…