Mid-Day Roundup
The craziest week I’ve seen in a while continues. First, some quick ones, then an outrageous downplay headline from Reuters.
- DO NOT MISS “The View with a Clue.” Besides being better TV, it’s easier on the eyes than the original. There were some dead-air moments, but all in all it was a very good first outing by a group of with divergent views who nevertheless have a civil conversation (what a concept). Michelle Malkin continues to push the Internet broadcasting envelope, which is a good thing, because YouTube and others seem intent on shrinking it (here’s yet another example).
- Retail sales excluding gas, which everyone knows dropped, went up a “stellar” 0.6% in September.
- WoMD notes more voter-registration fraud ACORN-iness — in Missouri, while, the 527 Media pretends that it’s not a big deal.
- Porkopolis is on Ted Strickland’s case for what has to be seen as yet another example of extreme non-judgmentalism — voting against a resolution declaring that the US will prevail in the War on Terror. What, he doesn’t care? Doesn’t think it matters? Hopes we’ll lose?
- It was thought to be imminent about a month ago, but now it’s official — Air America Radio has filed for bankruptcy. I would have thought that they would do anything to hold on past November 7. The Smoking Gun has a 26-page list of AAR creditors that, to quote Zell Miller, “goes on and on and on.” Things must have been really dire.
Finally, what a bland headline from Reuters for this report:
Oct consumer sentiment rises more than expected
Friday October 13, 10:30 AM EDT
NEW YORK (Reuters) – U.S. consumer sentiment rose more than expected in October, a preliminary report showed on Friday, as consumers’ view of both current and future conditions improved.
The University of Michigan’s preliminary October reading on its consumer sentiment index was 92.3, up from September’s final 85.4, said sources who saw the subscription-only report.
The median forecast of Wall Street economists polled by Reuters was for the index to read 86.5.
The survey’s index of current conditions jumped to 106.1 on a preliminary basis in October from 96.6 in September, while consumer expectations climbed to 83.4 from 78.2.
“Happy days are here again,” said Patrick Fearon, senior economist at A.G. Edwards and Sons in St. Louis, Missouri. “It was a stellar number compared to what we’ve been seeing for the past many months.”
Those differences between actual and expected show that economists were caught totally flat-footed. How about “October Consumer Confidence Blows Away Forecasts”? Or “Reuters Is Really Hoping You Won’t Read Past This Headline”?
re Air America: It has been my experience that filing bankruptcy is a process, not an event. If a set of negotiations failed leading to bankruptcy, then bankruptcy was not only in the cards, but an inevitable result of months/years of financial difficulties. Any attempt to portray the filing as ‘only just now needed’ is blowing smoke.
Air America’s protests of a month ago were as damning as Ken Lay’s claims that Enron was doing just great…right up until the end.
Comment by Tracy Coyle — October 13, 2006 @ 12:46 pm
#1, Brian at Radio Equalizer seemed to foretell that this would happen when the insiders failed to get a sweetheart arrangement:
http://radioequalizer.blogspot.com/
I agree that BR is usually a process, but I have seen situations where a company is for all practical purposes bankrupt but does not file for years. The creditors are tired of calling and know it is pointless, and the company limps on. They essentially have the choice as to when or if to file. My point on AAR is that if they were a limp-along company, they would have chosen to wait until after the election because, in a way, this discredits liberalism and gives conservatives a chance to crow, just like the train wreck that is and continues to be Salon managed to avoid delisting until after the 2000 election.
My guess is that the new law in the corp area makes limp-alongs tougher and gives creditors more ability to simply come in and shut things down.
Comment by TBlumer — October 13, 2006 @ 12:56 pm