Business Coverage

I guess at Reuters, when you see that an economy can't meet normal benchmarks for success, you simply lower them, and pretend that success will come anyway. Over at the Associated Press a few weeks ago, in his write-up in the wake of the government's awful June employment report, Chris Rugaber correctly pegged the kind of economic growth it will take to get millions of currently unemployed…

In his Friday report covering the June state and local employment report released by Uncle Sam's Bureau of Labor Statistics, the Associated Press's Derek Kravitz told readers about the three biggest seasonally adjusted job-losing states (Tennessee, Missouri, and Virginia), but had nothing to say about states which gained jobs. This was a curious omission indeed, given that BLS told us that "…

On Wednesday evening (at NewsBusters; at BizzyBlog), I noted the absurdity of Associated Press coverage characterizing the 5-page document with 3-1/2 whole pages of text issued by the "Gang of Six" as a "plan" -- 12 times, plus in the item's headline. Though I didn't bring it up then, an obvious point to make about any of these items floating around Washington is that if the Congressional…

Yesterday, White House spokesmouth Jay Carney made yet another claim concerning how grrrrrrreat the economy is compared when President Barack Obama took office (bold is mine): The economy is vastly improved from what it was when Barack Obama was sworn into office as president. To no one's surprise, this howler was not considered news at the Associated Press. No article found in a search at…

Green Vehicles is no more. The world will somehow have to get by without the lovely vehicle pictured after the jump populating our streets and highways. Given that its owner put an "I've giving it up" blog post last Tuesday, and even though Drudge just caught it a few hours ago, it's pretty safe to assume that the Green Vehicles debacle won't be a national establishment press story. It is,…

Per Reuters blogger James Pethokoukis, Goldman Sachs, demonstrating Democratic-friendly timing similar to that seen at the New York Times a month or so ago, published an extraordinarily gloomy economic forecast last night. Here are some of the details he quotes: "Following another week of weak economic data, we have cut our estimates for real GDP growth in the second and third quarter of…

I've been trying to resist taking satisfaction in David Cay Johnston's utter humiliation on his first assignment at Reuters. Y'know, there but for the grace of God, etc. I do wish him well, though I question whether the feeling is mutual. More important, I hope he recognizes the need to go into journalistic rehab. My guess is that he doesn't. The former New York Times journalist/reporter (…

While Associated Press Economics writers like Christopher Rugaber and Paul Wiseman, as seen in a post this morning (at NewBusters; at BizzyBlog), talk of "baffled economists" and a job market that is "defying history," one AP writer, in discussing stocks which have done well in this economy, has revealed what employment prospects really are with quite un-baffling certainty from the point of…

If we are believe two late Friday afternoon dispatches from the Associated Press following the government's awful Employment Situation report earlier in the day, you would think that even a cadre of cops with the talent of Sherlock Holmes couldn't solve the mystery of the underperforming job market. Economics Writers Christopher Rugaber and Paul Wiseman went with themes of "baffled economists…

On Friday, at its Political Hotsheet, Corbett B. Daly at CBS News, who joined the network in late May after leaving Reuters, appeared to virtually celebrate what he believes was the latest of Mitt Romney's flip-flops. Though it's clear that Mr. Romney has flip-flopped in the past on a number of matters, it's hard to see how Daly or any of the other flip-flop scorekeepers has a case -- at…

The front page of Wednesday’s National section of the New York Times featured the suddenly ubiquitous Ian Urbina advancing the paper’s agenda against the natural gas industry, as he’s been doing all week: “Lawmakers Seek Inquiry Of Natural Gas Industry.” Luckily for the Times, it found a few liberal Democrats to keep the story going by calling for an investigation into industry practices.…

One might be an accident. Two indicates a bit of a trend. Yesterday (at NewsBusters; at BizzyBlog), I noted that an early dispatch from Bloomberg on a disappointing consumer confidence report opened by telling readers that "Consumer confidence unexpectedly fell in June to a seven-month low ..." A later version purged the dreaded U-word ("unexpectedly"), opening with "Consumer confidence…

While the vast majority of those in the establishment press doggedly insist on reporting seasonally adjusted numbers in most economic spheres, there is an odd exception: Standard & Poor's Case-Shiller Home Price Indices. Not that it's completely the press's fault. S&P emphasizes the raw numbers over the seasonally adjusted ones, and for a pretty good reason: The raw numbers represent…

It looks like someone in the establishment business press might be getting a little touchy about the razzing they continually receive for delivering "unexpectedly" bad economic news. As captured by Glenn Reynolds at Instapundit and corroborated in this Google News description, Bloomberg's 10:16 a.m. report on consumer sentiment told readers that "Consumer confidence unexpectedly fell in June…