Business Coverage

When it comes to raising the minimum wage, networks minimize balance and maximize bias. After a year of protests clamoring for a $15 minimum wage, Christian Science Monitor reported that 14 states and several cities increased minimum wages or planned to in 2016. Several more cities and states are expected to consider a $15 minimum wage with ballot or legislative initiatives, according to USA…

Today was a fairly brisk day for economic data, as four noteworthy reports were released. One of them contained good news, but with a heavy asterisk. The other three were either not good, period, or came in below expectations. Readers here probably know which one the Associated Press was still carrying at its Top Business Stories page as of 2:39 p.m. Of course, it was the one with good news.

On Monday, the Institute for Supply Management's Manufacturing Index for December came in showing contraction for the second consecutive month, and with a slightly worse reading (48.2 percent, versus 48.6 percent in November; any reading below 50 percent signifiies contraction). These two results followed readings which just slipped over the expansion bar (50.2 and 50.1 percent, respectively) in…

In the latest episode of the CBS reality show Undercover Boss, “Shoppers World,” we meet Sam Dushey, President and CEO of Shoppers World, described as “one of the nation’s fastest growing retailers of discount apparel and merchandise.” A family-owned and operated discount retailer, Sam is the last family member in the business.

This week, the Associated Press wrapped up a year of largely pathetic business reporting with three items exemplifying the wire service's habits of data-twisting, sloppiness, and convenient omissions. A deceptive AP post-Christmas story pretended that Christmas-season "spending" was twice as high as anyone else has predicted. A report on pending home sales omitted a concerned comment from a…

In September, President Barack Obama "committed the U.S. to a new blueprint to eliminate poverty and hunger around the world" in a speech at a United Nations "global summit." A review of his speech's transcript indicates that while he acknowledged the ugly reality that "800 million men, women and children are scraping by on less than $1.25 a day," he made no mention of the fact that just three…

Establishment press pundits often wring their hands over how supposedly far to the right the Republican Party and conservatives in general have moved since the presidency of Ronald Reagan, that flaming moderate, to the point of claiming that Reagan would never be accepted by today's "wingnuts." They seem to actually believe this amusing nonsense. In a classic example demonstrating where the real…

After serving as the virtual mouthpiece for the "there is no crisis!" crowd for at least a decade since George W. Bush's attempt to partially privatize Social Security in 2005, someone at the New York Times has finally recognized that there is one — but still won't level with readers about the system's true condition. Eduardo Porter "writes the Economic Scene column" for the Times. Before that…

As I noted in a pre-Christmas post, "The desperation is palpable at the Associated Press, aka the Administration's Press, over how the Christmas shopping season is going." Desperation has clearly descended into outright deception at the wire service, where an unbylined story claims that spending is up 8 percent, but that the source involved "does not include spending by dollar amounts." As will…

In the annual competition between leftist media outlets for the screwiest (or most Scrooge-like) criticism of Christmas traditions, a Huffingon Post item published Thursday morning by Michael McLaughlin (HT Breitbart) was a formidable entry. After the HuffPo reporter's headline noted that "U.S. Christmas Lights Burn More Energy Than Some Nations In A Year," he suggested that "maybe we should…

Merchants haven't been the only ones discouraging those who work for them from using the word "Christmas" during the Christmas shopping season. The press has been at it for years, and those efforts have brought regrettable results. This is the eleventh year of an effort I began in 2005. Each year has involved three sets of Google News searches on "Christmas shopping season" and "holiday shopping…

The desperation is palpable at the Associated Press, aka the Administration's Press, over how the Christmas shopping season is going. Having appearently learned something contrary to the "consumers will catch up with their spending" we've been hearing from the National Retail Federation and others so far, AP Business Writer Joyce M. Rosenberg shifted gears and decided that consumers are spending…

The Census Bureau reported today that new-home sales in November came in at a seasonally adjusted annual rate of 490,000. That was a 4.3 percent increase over October, but it only occurred because October was revised steeply downward by 25,000 to 470,000; August and September were also revised slightly downward. Actual sales were 34,000, the highest November figure during the Obama era but lower…

Today's release from the government on economic growth estimated that the nation's Gross Domestic Product grew at an annual rate of 2.0 percent in the third quarter, a slight downward revision from November's estimate of 2.1 percent. This continues the economy's dismal, worst-since-World War II growth performance since the recession officially ended over six years ago. But never fear. According…