Business Coverage

About once a year, Congress brings in oil executives, with the media piling on, and blames oil company profits for high gas prices. Across the dial, all three network morning shows on April 1 - ABC's "Good Morning America," NBC's "Today," and CBS's "The Early Show" - characterized "big oil" as the culprit behind an increase in gas prices. On ABC's April 1 "Good Morning America," which…

The Institute for Supply Management issued its March Manufacturing Report on Business today: PMI at 48.6% Economic activity in the manufacturing sector failed to grow in March, while the overall economy grew for the 77th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®. The report was issued today by Norbert J. Ore, C.P.M., chair of the…

Just how obvious is it that the media's economic and business coverage is so negatively skewed that it has to be part of a political agenda in an election year? Obvious enough for the folks at Fox News to do an entire segment Saturday morning asking the extraordinary question: "Media ‘Talking Down' the Economy to Get a Dem Elected?" Despite my surprise seeing "Cavuto on Business" begin with…

When is a billion-dollar loss a bonanza? When the person suffering it is one of those greedy Wall Street types the MSM loves to hate. Check out how, in opening this morning's show, Today cast the situation of Bear Stearns Chairman James Cayne:MATT LAUER: Payday! His company imploded and thousands of stockholders went bust, but the Chairman of Bear Stearns cashes in and gets $61 million dollars.…

There are credit cards out there for subprime borrowers, too - it's not just mortgages. That means a new class of supposed victims for reporters like ABC's Chris Cuomo to defend. Cuomo's segment on the March 27 "Good Morning America" hammered away at the credit card industry, claiming consumers were "getting sucked in by attractive offers" and being "trapped" by "fee-laden cards." He said to him…

Want an even clearer picture of how media are intentionally reporting economic data in a way that makes the public feel things are much worse than they are?Consider the different adjectives the good folks at the Associated Press use to describe a 0.6 percent change depending on whether or not it's an increase or a decrease.As reported by NewsBusters two weeks ago, when the Commerce Department…

If there was ever an obvious conflict of interest in economic reporting, this may very well qualify. NBC chief foreign affairs correspondent Andrea Mitchell evaluated the housing crisis solution proposals of both Democratic presidential hopefuls Sens. Barack Obama (Ill.) and Hillary Clinton (N.Y.) on the March 25 "NBC Nightly News." "Clinton was the first of the two to sound alarms about the…

CNBC "Mad Money" host Jim Cramer came under fire recently for telling viewers Bear Stearns (NYSE: BSC) wasn't in trouble just days before the investment bank tanked. He has finally admitted some fault. "No! No! No! Bear Stearns is not in trouble," Cramer said on his program March 11. "If anything, they're more likely to be taken over. Don't move your money from Bear." The following weekend,…

As media continue to report current economic conditions as being almost Depression-like, they conveniently forget which political party has controlled both chambers of Congress since January 2007 as well as who was in the White House when key financial services deregulation was enacted.Such a well-timed amnesia hit ABC's Claire Shipman Sunday when during the panel discussion segment of "This Week…

A fairly common media meme during the past year or so has been that the continually declining value of the dollar is driving up oil and gas prices (image courtesy Slate).In the past three months alone, there have been over 100 stories involving this very subject, including this March 10 piece from U.S. News & World Report entitled "Why Gas Prices Rise as the Dollar Falls (emphasis added):…

It's a common trick the media employ when reporting on "skyrocketing" gas price stories: show photos or B-roll of price marquees that bear prices way above the actual average price.MSNBC.com's front page this morning is no exception, as the screen cap at right shows regular unleaded for $3.979, or 21 percent higher than the national average of $3.27.The article's headline reads, "Rising gas costs…

He'd probably like to take this comment back, but then again there are probably many things CNBC "Mad Money" host Jim Cramer has said that he'd like to take back. In a response to an e-mail posted on his Web site on March 11, Cramer said Bear Stearns (NYSE:BSC) wasn't in trouble and advised the writer to keep his money in the investment bank: "Dear Jim: Should I be worried about Bear Stearns…

For more than a week, NewsBusters has been pointing out that media seem to be adopting the 1992 Bill Clinton playbook of presenting the economy as being in much worse shape than it really is.On Sunday, former Clinton administration adviser George Stephanopoulos took this doom and gloom posture by repeatedly depicting the nation as already being in a recession. In fact, he began the most recent…