Business Coverage

From what I can tell, no one in the establishment press yesterday attempted to quantify the total employment impact of yesterday's announcement by Best Buy that it will reduce its headquarters headcount by 400 and close 50 stores. One thing is certain: It's not just 400, as the headlines and verbiage in certain media reports might lead readers to believe -- and it's not excusable to say that…

Earlier this year, a reporter informed me of what is apparently a common belief in the business press, namely that "the Labor Department considers the (seasonally adjusted, or SA) numbers to be much more reflective of what’s actually going on in the economy" than the raw (i.e., not seasonally adjusted, or NSA) economic data. That's interesting, given that you can't even do seasonal adjustments…

The science against BPA isn’t very convincing, yet the left-wing onslaught from environmental groups, activist scientists and the media has convinced many consumers that soup cans, soda bottles and plastic storage containers are going to make them sick. In the case of BPA, perception and reality are far different, but false perceptions can still cost businesses millions -- or put them out of…

ABC’s attacks on USDA-approved beef have already put American jobs in jeopardy, and Dan Gainor, the Media Research Center’s VP of Business and Culture, appeared on Fox News Channel’s “Happening Now” on March 28 to discuss the sliming of Beef Products Inc. by the news media.

I had to make sure that the Conference Board, which issues one of the most closely watched consumer confidence reports each month, didn't issue some kind of update during the day after telling us in the morning that its reading for March came in at 70.2, down from 71.6 in February. Nothing changed. But oh how the Associated Press's headlines about the Board's reported results changed in…

You've got to admire the determination of Derek Kravitz at the Associated Press, aka the Administration's Press, to find lemonade among the lemons known as the monthly new-home construction statistics from the Census Bureau. Why, he was even able to find a guy who said that "housing permits-not the starts" are more relevant in gauging the health of the market. Did it ever occur to these guys…

Once again, CNN's Piers Morgan is pouting that corporations like Apple should bring jobs back to the U.S. simply because they should. Morgan was rebutted by Chris Christie the last time he made that reasoning at the expense of shareholders' profits, but he was at it again on Monday night. He has a "constant nagging problem" with Apple making money overseas. "So they are making squillions of…

The exercise of watching the press report on the current week's unemployment claims figure as if it's etched in stone and assessing it as if it's the last word -- only to see the figure get upwardly revised the next week virtually without media comment -- is getting extraordinarily tedious and predictable (but of course watching what they do remains necessary).  At the Associated Press,…

The New York Times told us about three weeks ago that "there's little President Obama" can do about the current pump price of gas. Since then, it has become a well-established media meme. Poor guy. Well, not really. Four years ago, another U.S. president did something which caused the barrel price of oil to drop by over $6, and the press spent the rest of the day trying to pretend that the…

Gosh, how did that happen? At the Associated Press as of 7:30 p.m., its Top Business stories (saved here for future reference) top headline read: "Strong 3 months of hiring as US adds 277,000 jobs." The headline at the underlying article (saved here) reads the same. Related pics are after the jump.

Yesterday was sort of "Pick on Christopher Rugaber at the Associated Press Day." So when I came across a particularly reprehensible report he filed last night whining about the difficulty the economy may face in meeting heightened expectations -- with yet another reference to the wire service's obsession with its relevance to President Obama's approval ratings and reelection -- I let it go.…

Earlier today (at NewsBusters; at BizzyBlog), I noted the press's ridiculously forgiving coverage of today's reported increase in unemployment claims while concentrating primarily on RTT News's assertion that the unemployment rate should continue to come down as long as weekly claims stay below 400,000. Three years ago, Christopher Rugaber's threshold at the Associated Press, also known to…

The Department of Labor reported today that initial claims for unemployment benefits increased to 362,000 from an upwardly revised (as usual) 354,000 the previous week. Expectations were for a reading of 351,000 (Business Insider's email) or 352,000 (Bloomberg). Over at the Associated Press, also known as the Administration's Press, the headlined reaction in its 9:17 a.m. report was: "…