Author Archive
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The Audit
Looking at BusinessWeek’s Prospects
September 14, 2009 10:39 AMSomebody finally got a hold of the BusinessWeek sale documents, and they clarify the magazine's prospects a bit. The New York Times's Stephanie Clifford gets the scoop one day before bids are due for the magazine. Expected bidders include... Continue reading
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The Audit
BW Looks at Effectiveness of Proposed Reforms
September 11, 2009 05:35 PMWe've been watching press coverage of regulatory reform closely here at The Audit for several months. The press has done a pretty good job covering the lobbying pushback by the finance industry, which got up off the mat swinging... Continue reading
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The Audit
Lessons from “Sesame Street”
September 11, 2009 11:14 AMLast night, I saw some of the best journalism on regular working folks that I've seen in some time. But it wasn't on CNN or the NewsHour. It was on "Sesame Street". Ahem. My wife stumbled across the special, "<a... Continue reading
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The Audit
WSJ: Some Restaurant Won’t Take Cash Now
September 11, 2009 10:22 AMFile this one under odd news judgment: A Greenwich Village restaurant is no longer taking cash. The Wall Street Journal puts it on A6. This isn't a trend story, it isn't a slice of life story. It reads like... Continue reading
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The Audit
The Times on a Real Estate Deal Gone (Deservedly) Bad
September 10, 2009 02:22 PMThe New York Times on page one today looks at the fate of the buyout of Manhattan's Stuyvesant Town and Peter Cooper Village. It's about as close as a story will get to saying: It's going bust in five... Continue reading
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The Audit
WSJ on the Prospects for Reform
September 9, 2009 05:48 PMThe Wall Street Journal has an okay page-one look at the prospects for financial reform, concluding that they've "faltered" as the crisis has eased. The piece doesn't add much new but it's by no means not worth doing. These... Continue reading
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The Audit
The Times Takes on Overdraft “Protection”
September 9, 2009 07:00 AMThe New York Times goes big this morning on the overdraft "protection" racket with a front-page story looking at this issue, one we've been eyeballing for a while here at The Audit as newsrooms... Continue reading
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The Audit
Somebody Else (!) Takes on the Murdoch Journal
September 8, 2009 05:31 PMThe blog NYTPicker, in the course of praising a page one Times story yesterday, turns its critical eye on The Wall Street Journal: Once upon a time, a great newspaper called The Wall Street Journal (not to be confused... Continue reading
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The Audit
The Unlearned Lessons of Lehman, a Year Later
September 8, 2009 03:26 PMSeptember 15 is a week away, so here come the Lehman Brothers retrospectives. First out of the gate is Bloomberg, which goes long—as in 4,091 words long, and this is just the first of four parts—on how and why... Continue reading
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The Audit
WSJ on a New Chamber of Commerce Campaign
September 8, 2009 10:08 AMThe Wall Street Journal has a scoop today that the Chamber of Commerce is funding a $2 million ad campaign against the proposed Consumer Financial Protection Agency. Not exactly shocking, but it's especially critical to keep an eye on... Continue reading
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The Audit
More on Print and Online Reader Revenue
September 4, 2009 04:23 PMMichael Masnick of TechDirt took issue last week with my post showing the wide disparity between the value of online and print readers of newspapers—calling the exercise "totally meaningless." I never said it was the codebreaker, but okay.... Continue reading
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The Audit
Unemployment (Still) Worse Than You Think
September 4, 2009 09:53 AMThe press reports the bad news this morning that the unemployment rate closed in on 10 percent last month, hitting 9.7 percent from 9.4 percent in July. That's a truly awful number—the highest in twenty-six years. But, as we... Continue reading
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The Audit
A Good Dose of Common Sense Heard on the Street
September 3, 2009 06:02 PMThe Journal's Simon Nixon has a nice Heard on the Street column today, noting that "Bankers Have Only Themselves to Blame" for a new backlash. And how. He notes that the banks were chugging along the return to normalcy... Continue reading
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The Audit
Calculating the Benefits of Cash for Clunkers
September 3, 2009 01:24 PMYesterday I tipped The Audit's cap to a nifty bit of analysis from Calculated Risk pointing out that the real cost of the Cash for Clunkers and first-time-homebuyers subsidy programs were far higher than what's been reported. But Michael... Continue reading
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The Audit
WSJ’s Wessel on the Deficit and Taxing the Rich
September 3, 2009 10:25 AMThe Wall Street Journal's David Wessel has a useful column looking at whether and how much tax increases on the well-to-do would be able to close the estimated $9 trillion budget gap over the next decade. Not much, actually.... Continue reading
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The Audit
Calculating the Clunkers’ Real Cost to Taxpayers
September 2, 2009 10:06 AMCalculated Risk has a smart bit of economic analysis on the real cost to taxpayers of the Cash for Clunkers and housing-credit subsidies—calculations I haven't seen anywhere else. CR notes that the real economic benefits of the subsidies come... Continue reading
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The Audit
The FT on the Bloat in Banking
September 1, 2009 03:57 PMThe debate in the U.S. over how to reform the financial system has been overshadowed by the health-care hubbub. It's been a bit hotter in Europe recently. To see a bit of what we're missing, check out Philip Stevens <a... Continue reading
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The Audit
Lazy Summer Musings from the WSJ D.C. Bureau
September 1, 2009 01:36 PMThe Wall Street Journal wants you to know why the town halls were so rowdy this summer. Here's its stilted lede: WASHINGTON -- Recent town-hall uproars weren't just about health care. They were also eruptions of concern that the... Continue reading
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The Audit
NYT’s Rejoinder on Obama and the Deficit
August 31, 2009 02:48 PMLast Wednesday, I got on the Washington Post for a poor page-one story on the $9 trillion budget deficit—a piece that had plenty of blame for Obama, and none for George W. Bush. So it was nice to see... Continue reading
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The Audit
Bloomberg on the Derivatives Lobby
August 31, 2009 10:30 AMBloomberg this morning takes a hard look on the Wall Street lobby, writing that it's "suiting up for a battle to protect one of its richest fiefdoms, the $592 trillion over-the-counter derivatives market." This is one of the most... Continue reading
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