Business Coverage

Ever since fast food chain Burger King announced its desire to purchase Canadian coffee and doughnut chain Tim Hortons, CBS has done its best to play up the supposed backlash the company will face as it moves its headquarters overseas to lower its tax burden.  On Wednesday morning, following the news that billionaire investor Warren Buffett is helping finance the merger, CBS This Morning made…

For the second day in a row, CBS did its best to hype opposition to fast food chain Burger King after it announced plans to purchase Canadian coffee and doughnut chain Tim Hortons and relocate to Canada to lower its tax burden.  On Tuesday, CBS This Morning fill-in anchor Anthony Mason introduced a segment by boosting how “Main street and some in Washington are fuming about the fast food…

Someone must have slipped the wrong data to the Associated Press's Josh Boak yesterday before he composed his dispatch on the Census Bureau's latest report on new home sales. Boak got the current month's news right, though likely by accident (like almost everyone else in the business press, he relies on seasonally adjusted figures, and rarely goes to the unadjusted data), telling readers that…

Tonight's CBS Evening News spent 63 seconds on the Burger King fast-food chain's plan to merge with Canadian donut chain Tim Hortons, a move which would also relocate the new company to Ontario, Canada,  for "substantial tax savings" where the corporate tax rate is much more favorable for business (15 percent) than the present federal corporate rate (35 percent).  But while business…

"Patriotism may be the last refuge of a scoundrel, as Samuel Johnson put it, but a lack of it may be the last refuge of corporate executives who have run out of ideas on how to improve their business," groused Daily Beast global finance editor Daniel Gross in the open of his 9-paragraph screed "Burger King Plots Canadian Invasion to Save His Faltering Kingdom." "It’s one thing for a fairly…

The Associated Press's Top Business News page lists the headlines and opening passages of what the wire service believes are the ten most important business stories at the moment. Its 9:16 a.m. version had a story entitled "JACKSON HOLE DEMONSTRATORS RALLY AGAINST RATE HIKE" listed fifth. Earlier in the morning it was fourth. Surely, I thought to myself, this must be about a group of at least…

Lean, finely-textured beef (LFTB), commonly referred to by media outlets as “pink slime,” is “back in demand,” according to Yahoo! News. In 2012, a series of media attacks on LFTB, including several by ABC News, scared grocery stores like Kroger and Safeway and restaurants like McDonald’s away from using the meat product even though it had been safe and approved for use by the USDA for many…

It takes a special man to cram so much wrong into a mere 342 words.  Or an Old Grey Lady. The New York Times’ utterly ridiculous Editorial Board recently as one addressed Title II Internet regulatory Reclassification and Network Neutrality - and they did so in utterly ridiculous fashion.  They either have absolutely no idea what any of this is - or they are lying through their printing…

Former CBS anchor Katie Couric recently granted an “Inspirational People” interview to Good Housekeeping magazine on her movie Fed Up, a documentary against child obesity. “As the anchor of CBS Evening News, I was constantly referencing new studies about childhood obesity. The problem seemed to be getting worse and worse even though it was getting more and more attention.” She “constantly”…

The federal government reported a $94.6 blllion deficit in July, only marginally better than the $97.6 figure posted in July 2013. As has become its habit, the Associated Press's coverage of that result contained omissions, spin and half-truths about government tax collections, spending and the origins of the Obama administration's first four years of consecutive trillion-dollar deficits.…

This morning, the Census Bureau, in its advance report on retail sales, revealed that seasonally adjusted July sales were "virtually unchanged" from June. Expectations were for a 0.2 percent gain, supposedly with "solid upside" potential. Oops. June's result stayed at its previously reported 0.2 percent increase. Reuters did the "U-word" honors this time out: "U.S. retail sales unexpectedly…

This post is not about an item in The Onion. It's about a supposedly serious establishment press story at The Hill. This morning, Amie Parnes and Peter Schroeder covered the Obama administration's apparent plan to pivot to the economy for the umpteenth time. But this time, Obama and his apparatchiks aren't doing it because they think they need to convince people that things are getting better…

In a Thursday report on why many Americans are still unimpressed with the U.S. job market, Associated Press reporters Christopher Rugaber and Josh Boak made a rare admission that "Finding a steady full-time job has become harder" than it was before the recession. The AP pair then contended that "the trend might also reflect a lasting shift among restaurants and coffee shops," but found an "…

Which is the more important statistic: A 36 percent decline in U.S. median household net worth since 2003, or a 43 percent decline in that same statistic since 2007? The average person would certainly be more concerned about the latter, which represents an annual drop of about 7 percent compared to the less than 4 percent per year seen in the past decade. But apparently if you're a reporter…