Business Coverage

I noted on Sunday how former Associated Press reporter Philip Elliott, writing for Time Magazine's Time.com website, joined the Scott Walker pile-on brigade criticizing the Wisconsin Governor's reasonable — arguably to a fault — position that he doesn't personally know whether Barack Obama is a Christian. A separate post by Elliott, which covered a weekend retreat hosted by Charles Koch,…

These economics reporters at the Associated Press have become experts at deadpan humor. Earlier today, I noted how the wire service's Christopher Rugaber told readers, in the wake of a government report showing the lowest wage and benefit increases on record, that "the job market is not yet back to full health." No kidding, Chris. On top of that, the AP's Martin Crutsinger reacted to yesterday's…

Christopher Rugaber at the Associated Press and the "expert" he quoted in his writeup on the government's awful Employment Cost Index report seemed to be taking their cues from Steven Wright's deadpan comedy act. The problem, of course, is that they were writing and saying isn't funny at all. Rugaber, with his "expert" help, assembled an impressive array of understatements and misstatements in…

The bar-lowering in the business press continues. In the wake of today's disappointing news from the government on U.S. economic growth, an email from CNNMoney.com failed to properly describe reported second-quarter growth, and falsely characterized today's results as "solid":

The news out of Venezuela has apparently become so grim that the arguably Chavista-sympathetic press barely bothers to report it in any kind of sutstantive fashion. Inflation has gone wild, the level of violent crime has become frightening, and the government has taken to jailing citizens who dare to tweet their dissatisfaction with the regime of Nicolas Makuro (note that the linked report was…

Yet another important economic statistic confidently predicted to rise has fallen — hard. This time it was June's pending sales of existing homes. Just in time for summer, they were predicted to increase by a seasonally adjusted 1.0 percent to 1.5 percent. Instead they fell by 1.8 percent, the steepest drop since December 2013. Additionally, May's original 0.9 percent increase was revised down…

The Conference Board's July Consumer Confidence report released earlier today threw a heavy dose of cold water on the idea that the economy might finally achieve a broad-based, genuine recovery this year. Despite month after month of "all is well" reporting — and excuse-making when all hasn't been well — from the U.S. business press, the American public has apparently finally figured out that…

I guess the slogan of labor has changed from "Look for the union label" to "Look for the union waiver." The Los Angeles Times published a long front-page story early this morning on an issue some people thought disappeared after its initial exposure two months ago. The issue is whether union workers should be exempt from minimum wage laws, especially the sky-high minimums being enacted in some U…

Based on how they handled it today, it's pretty obvious that the Associated Press's Ken Sweet and his wire service's headline writers want the lowest possible number of users of their reporting — consumers and subscribing print and broadcast outlets — to know about the mainland Chinese stock market's historically deep 8.5 percent Monday dive. It took four paragraphs for Sweet to get to the…

In a speech at a Republican Lincoln Day dinner in West Virginia earlier this week, Murray Energy Corp. founder and CEO Robert Murray decried the Obama administration's determination to, as described at the financial news site SNL.com (to be clear, no relation to Saturday Night Live), "bypass the states and their utility commissions, the U.S. Congress and the Constitution in favor of putting the U…

Thanks to year-over-year declines in manufacturing orders, manufacturing shipments, and wholesale sales, along with bloated inventories, apologists for the current condition of the U.S. economy are down to three defenses supposedly demonstrating that all is still really well after yet another rough first quarter (once again excused away as due to supposedly historically awful winter weather).…

The National Association of Business Economics released its quarterly survey of its members' take on the state of the current and future economy today. Given that the survey only had 112 responses, it's probably not a good idea to generalize too much about its results. That didn't stop The Hill from headlining Vicki Needham's writeup by far too optimistically declaring that "Business leaders…

The company officially known as the Great Atlantic & Pacific Tea Co. has filed for bankruptcy for the second time in five years. This time around, the storied "A&P" name may completely disappear. Coverage at USA Today by Nathan Bomey notes that "About 93% (of its workers) are represented by one of 12 different unions, and many of them have bumping rights that the company has described as…

Writing about her paper's biased, social-activist coverage of the firing of Reddit chief executive Ellen Pao, New York Times Public Editor Margaret Sullivan let slip an unannounced editorial change by the Times, opening the floodgates even wider for reporters to inject liberal impulses into their news stories: "They want to provide 'value-added' coverage," not the "just the facts" reporting "that…