Business Coverage

It's not just the Associated Press that can't get basic facts right. No wonder Barack Obama doesn't get challenged by the media on fundamentals -- y'know, things like how many states there are in the union (he says 57 or so), whether Illinois is closer to Kentucky than Arkansas (he says it's not), or whether Warren Buffett's income (!) is $56 billion (Obama seems to think that income and net…

On the one hand, I have to give the Washington Post some credit for its biased June 16 story about a new pro-life pharmacy set to open in northern Virginia this summer. Even with its less-than-fair treatment, it informs pro-life readers of a new pharmacy they may wish to patronize. Of course the store opening is worthy of news coverage for a number of reasons, such as the intersection of faith…

The Associated Press's Martin Crutsinger got out the gloom-and-doom paint in his report on the Consumer Price Index on Friday morning. Here are his opening paragraphs: Inflation rate jumps by biggest amount in 6 months Inflation shot up in May at the fastest pace in six months, pushed higher by soaring costs for gasoline and other types of energy. The Labor Department reported Friday that…

It certainly wasn't surprising how press outlets desperately trying to depict the economy as depression-like in order to get Barack Obama in the White House were practically giddy following the dour jobs report released by the Labor Department last Friday.What was shocking given the portion of May's unemployment rate rise attributed to high school and college students looking for summer jobs was…

The Associated Press's Jeannine Aversa started off her Friday evening report on the day's economic news showing, as she and her AP colleagues have for several months, that they either don't understand very basic concepts relating to the information they're attempting to digest and convey or are deliberately reporting it inaccurately: Pink slips piled up and jobs disappeared into thin air in May…

Don't miss the significant reporting errors noted at the end of this post. _______________________________________________ If this were a boxing match, with "The Economy" in one corner, and "Expectations" in the other, we'd be seeing a third-round knockout with "Expectations" taken away in an ambulance. But if you think the news this week has changed the tone of the Associated Press's business…

Yesterday's edition of CNN's Lou Dobbs Tonight included a report from Kitty Pilgrim on product recalls from China and the administration's efforts to reduce importation of unsafe products. "Bush administration officials are going through the charade of tougher enforcement with few results," according to correspondent Pilgrim. Using the term "charade" prepared viewers for where this segment was…

Matching predictions from Reuters and Bloomberg, the government's Bureau of Economic Analysis told us this morning that the economy grew at an upwardly-revised annualized rate of 0.9%. As I've said frequently, this is nowhere near acceptable. But it sure as heck isn't a recession.Initial reaction to the news by the Associated Press's Jeannine Aversa was unfortunately predictable (bolds are mine…

The media have been quick to paint the slow-growing economy as though it's in recession. Indeed, as our friends at the Business & Media Institute discovered, the MSM now is painting the economy much worse than the print media reported the 1929 stock market crash that marked the beginning of the Great Depression.But kudos are due U.S. News & World Report's Rick Newman for staking out a…

..... But Misses Chance to Refute "Jobs Slashed" Claims. It's good to see that someone else is on the case of the recession-obsessed Associated Press, particularly reporter Jeannine Aversa. But even the estimable James Taranto, in his Best of the Web column yesterday, let Aversa's most obvious and repeated error go by without comment. Aversa started out her report yesterday ("When economy…

If there were any doubt the media is trying to milk bad economic news for all that it's worth, look no further than BusinessWeek magazine. BusinessWeek kicked off its "Recession in America" blog on May 2. It is dedicated solely to reporting on the "recession [that] is here (or will be soon)," as the headline of a May 19 post stated (h/t BMI advisor Chris Roush of Talkingbiznews.com). "As the…

According to the American Fire Safety Council (AFSC), flame-retardant chemicals save a lot of lives. But you would never know that from watching the May 19 "CBS Evening News" because correspondent Wyatt Andrews hyped the danger of such chemicals. Andrews report featured a liberal politician who wants to ban the chemicals in Maine, and has made it one of her pet causes. "You know, it makes me…

Here is a story in a small paper in Philadelphia that serves as a fine example of the junk that all too often passes for "journalism" in America today. This example is as ridiculously anti-intellectual and dismissive of the importance of preserving our history as it is anti-corporate. It's a fine example of a journalist who thinks he is smarter and funnier than everyone about whom he writes --…

The Federal Reserve reported Thursday that April industrial production fell, the second negative reading in the past three months. Specifically, February and April fell by 0.7%, and March showed an increase of 0.2%. In May 2001, that same report showed that production fell for the seventh consecutive month. Seasonally adjusted data from the Fed indicates that industrial production during those…